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Nifty Bank Index

BANKNIFTY INTRADAY for 27 Dec,19

Oleh The_RedTicker
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Zones are mentioned on the chart.
Check Historical idea on 3 mins time frame.

Dont be a Bull. Dont be a Bear. Just be a Hare.
Nota
First candle reaction is to be usually avoided, also it wasn't a perfect entry.
Nota
Its not exactly an offset kind of day, I would say positions for the month are being so I dont think anyone really cares about their PnL today (which can be understood by looking at the premium in banknifty FUT, almost 170-180 points compared to spot).
so considering Put-Call parity, there is massive premium in options and yet we're crossing a decent OI levels on spot like it means nothing.
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Took one zone trade, in fut, shorted around 32416 @ 10:31, but pretty soon realize the momentum was a bit vague for me. Squared off instantly @ 32408. Lucky, as just the next candle gave a reaction of 80-90 points against me.

Attached is the trade log.
prnt.sc/qg959s
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I will probably avoid more trades today, lets head into the new year with a green PnL. Also I dont banknifty will give any more zone setups for the day, Nifty might.

But on the weekly, just in last few mins 12200 pe got OI spurt (anyone who understands what that means, trade accordingly.)
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The_RedTicker
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