12 Sep 2024 Bank Nifty Predictions
1. What was Today's Scenario?
The market moved down today. This is evident from the 5-minute chart showing a consistent downward trend throughout the trading session.
2. What level of support and resistance exists on Next Trading Day?
Based on the daily chart:
• Support Level: Around 50,800 (previous low)
• Resistance Level: Around 51,400 (previous high)
3. What is the Next Trading Day Scenario?
Based on the current chart patterns and today's downward movement, the next trading day scenario could be:
Time Market| Condition
Opening | Slight Gap Down
Morning | Bearish
Midday | Range Bound
Afternoon | Slight Recovery
4. Strategy or STRIKEs for Next Trading Day
As an option buyer, the following strategy could be effective:
• Morning Session: Buy 51000 PE if the market opens with a slight gap down and shows bearish signs.
• Afternoon Session: Consider buying 51000 CE if there is a slight recovery.
Additional Analysis
• Volatility: Expect higher volatility in the morning session.
• Stop Loss: Set a strict stop loss to manage risk, especially in a volatile market.
By following these specific strategies and levels, you can make more informed decisions for the next trading day.
Disclaimer: Do Follow you Risk and Money management, We are not providing any TIP or IDEAS, Just Sharing My views.
The market moved down today. This is evident from the 5-minute chart showing a consistent downward trend throughout the trading session.
2. What level of support and resistance exists on Next Trading Day?
Based on the daily chart:
• Support Level: Around 50,800 (previous low)
• Resistance Level: Around 51,400 (previous high)
3. What is the Next Trading Day Scenario?
Based on the current chart patterns and today's downward movement, the next trading day scenario could be:
Time Market| Condition
Opening | Slight Gap Down
Morning | Bearish
Midday | Range Bound
Afternoon | Slight Recovery
4. Strategy or STRIKEs for Next Trading Day
As an option buyer, the following strategy could be effective:
• Morning Session: Buy 51000 PE if the market opens with a slight gap down and shows bearish signs.
• Afternoon Session: Consider buying 51000 CE if there is a slight recovery.
Additional Analysis
• Volatility: Expect higher volatility in the morning session.
• Stop Loss: Set a strict stop loss to manage risk, especially in a volatile market.
By following these specific strategies and levels, you can make more informed decisions for the next trading day.
Disclaimer: Do Follow you Risk and Money management, We are not providing any TIP or IDEAS, Just Sharing My views.
JB 2024
Penafian
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