BankNifty Startegy for the day 04/07/18

BNF trading at 26200 at 11.25 am, markets have taken a dip early morning, but unable to break Monday low as of now. which act as support for the markets.

Scenario 1- Today, I am looking forward to 26160 – 26180, if trades around for the majority of the time, may be till 2.30 pm, markets may try to break the low of Monday’s and, if they break below before 2 pm, may try testingĀ  25980-25920.

we may see the downside and bears have upper hand.

Scenario 2- Above 26250 by 2.30 PM, markets may try to touch 26330-26370.

If they break before 2 pm, we may see up to 26340-370 and bulls may have the upper hand

Now, the question is, if this number comes before the prescribed time, what to do?

Their lies the market wisdom, on what to trade and how to position themselves -this can’t be taught, it has to be experienced.

Better stay light on the downside, and lighter on the upside

I would be tracking 26100 call and 26300 put options.

26100- should be ONLY above 150 for any upside in the markets.

120-80 are the important support till tomorrow expiry. Upside -190-240-270

26300-should be only above 190 for any downside in the markets.

80-50 are the important support till tomorrow expiry. Upside -240-280-320-350-380

Tade less and trade form savings money.

All the Best

Sagar U.S