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BankNifty Short Setup Idea

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Banknifty close to retracement level tops, Booked the longs in open as laid out in the plan. 25K CE OI is still stacked up and declining volumes in this zone. so odds are in favour for a low probability short.Going short at near 25000 futures levels. with SL above 25150.
this can mature into a swing short if 24740 cracks on the downside. else expect a small trade or SL to be taken out to attempt higher levels of 25500

註釋

15- Mar: Update:
while the short at 25K did manage to test 24550 zones, we saw a sharp pull back to 25K levels. although despite that the 25150 levels are still intact.
yesterday's action
we saw a neutral day on thursday expiry, this increases the possibility of a trend emerging in the coming 1-2 sessions. A move below 24750 can confirm a top
and a potential test of 24550-580 zones and lower levels of 24480. On the upside, we had a failed breakout at 25007, a move above 24940 this time though should
see the buyers become more active.
max OI is now at 25000 levels on the call side and 24000 on the putside, while PCR remains a bit bullish, CE addition is relatively higher.
summary: levels to watch out, 24750 on downside, 24940 on th upside

註釋

20-Mar:
Last thursday we mentioned that it was a neutral day, and the possibility of a trend day emerging was high, we saw 2 consecutive trend days post that.
Today could be an interesting session, as Bankifty unlike NIFTY is yet to mark a new low. THing to watch out is if we will move and trade below 24250 zonesor manage
to pull back above it. If that happens that will keep the possibility of an upward rotation open. Below that we are likely to do a test of 23840 zones once.

手動結束交易

22- Mar:
I think for now we are done with the sell off. mkts seem to have respected the 24100 levels. and have managed to hold fort abv 24250 zones. closing the trade here at 24300 BNF levels. neat gain of 700 pts.
will look for a long side trade if an opportunity emerges