#banknifty OI down by +9.15% and price up by +2.16 %, which indicates long build-up.
Bold Recommendation:- Short market at higher levels with SL of 23,388.
FII bought 1101.76 Cr & DII sold 934.84 Cr, DII is selling for the last three days and FII buying intensity increased once again.
Data Analysis:- FII unwinded long position on the index and DII & PRO shorted Index today and only retails are long in the index.
Perfect trap set for retails on index long positions.
The overall neutral, reason we are yet to enter the uptrend channel that is running for the last 3 months and the trend will be positive above 23,388.
In the last 8 trading day's we have covered 2488 points and this is too fast and the 5th wave seems to get completed between 22,890 to 23,090.
Decision Zone 22,582- 22,651 below is bearish, and above is bullish.
Long SL is 21,811.
I posted yesterday:- "We seem to be on wave 5, which might have an upside target of 22,890 - 23,090" and we achieved 22,890 targets today.
Trading stratergy:- To sell in higher range ( 22,900 - 23,100) SL 23,388 for a target of 22,800 / 22,650 / 22,400 / 22,050.
I will not long on index any further, until we cross 23,388 and holds and will add to long-only above 24,000.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Bold Recommendation:- Short market at higher levels with SL of 23,388.
FII bought 1101.76 Cr & DII sold 934.84 Cr, DII is selling for the last three days and FII buying intensity increased once again.
Data Analysis:- FII unwinded long position on the index and DII & PRO shorted Index today and only retails are long in the index.
Perfect trap set for retails on index long positions.
The overall neutral, reason we are yet to enter the uptrend channel that is running for the last 3 months and the trend will be positive above 23,388.
In the last 8 trading day's we have covered 2488 points and this is too fast and the 5th wave seems to get completed between 22,890 to 23,090.
Decision Zone 22,582- 22,651 below is bearish, and above is bullish.
Long SL is 21,811.
I posted yesterday:- "We seem to be on wave 5, which might have an upside target of 22,890 - 23,090" and we achieved 22,890 targets today.
Trading stratergy:- To sell in higher range ( 22,900 - 23,100) SL 23,388 for a target of 22,800 / 22,650 / 22,400 / 22,050.
I will not long on index any further, until we cross 23,388 and holds and will add to long-only above 24,000.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
