Banknifty is trading in a bearish flat pattern so chances are high this structure is going to break for downside,,if this is happening then we can see free fall in banknifty and this fall can take banknifty towards 43900 and more lower towards 43600. MACD is already given bearish crossover,,RSI also supporting data.Market sentiment looking bearish, So if anyone wants to go short can take position with proper given levels on chart and here. But at this levels also there is strong support,,according to pattern this should break for downside, but if banknifty take support on this levels then we can see sideways market for today. But as of now chances are higher for downside. Please follow strict stop loss in this trade.
Naked option buying Hero Zero trade.
Buy Banknifty 8th june 44200 pe now at 45
keep stop loss at 10 and go for target above 75/125/175/250+
Option writing Trade.
Sale Banknifty 8th june 43400 Ce option at 229 now
and keep stop loss at 350
and hedge with
bankinifty 8th june 44300ce at 20 now
Please follow strict stop loss, and trade with less qty.
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