Verdict:
Sideways or Bearish
Plan of action:
keep holding yesterday’s position, or you can make a new position once it tests the 48100 level again.
Sell 48100 CE + Buy 48500 CE
As we discussed, Banknifty yesterday was sideways while the day was quite volatile. People who Sold 48200 CE and bought 48600 CE would have been in profit. Now, if we see the chart, it took resistance at the line we drew yesterday; now, I am expecting it to touch level 48100 again and then make a double top and fall.
Reasons:
Verdict:
Sideways or Bearish
Plan of action:
keep holding yesterday’s position, or you can make a new position once it tests the 48100 level again.
Sell 48100 CE + Buy 48500 CE
Disclaimer:
The information provided in this blog post is for informational purposes only. It is not intended as financial, investment, or trading advice. The author is not a licensed financial advisor or professional.
Trading and investing in financial markets carry inherent risks, and past performance is not indicative of future results. Readers should conduct their research, consider their risk tolerance, and consult with a qualified financial advisor before making any trading or investment decisions.
The author is not responsible for any financial losses or gains that may result from actions taken based on the information presented in this blog post. All trading and investment decisions are made at the reader’s own discretion and risk.
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