Bank Nifty forms Hammer near gann angle,EOD Analysis

  •  As discussed in Last analysis  Bank Nifty opened gap down made high of 19725 and bears became active below 19700 and did target of 19500 and close below 19500 suggesting we can move towards 19300/19000.  Low made today 19252 so 19300 also done,today low is near gann angle suggesting we can see upmove till 19700 and if sustained can see move till 20K, again not able to cross 19700 we can see fall till 19000 in next round of correction.   Fatal Flaws of Trading

bank-nifty-breakdown

  • Bank Nifty November Future Open Interest Volume is at 17.9 lakh with addition of 56 lakh, with rise in Cost of Carry suggesting longpositions were added today. Bank nifty rollover % at 66.7 rollover cost is coming 19750.  Do you know your Risk of Ruin in trading ?

Buy above 19550 Tgt 19620,19725 and 19840 (Bank Nifty Spot Levels)

Sell below 19430 Tgt 19330,19150 and 19030 (Bank Nifty Spot Levels)

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6 thoughts on “Bank Nifty forms Hammer near gann angle,EOD Analysis”

  1. Bramesh & Nagarajan Sir, With due respect to your advice on trading only in futures ( avoid options ) while taking position with SL, I have an apprehesion saying that especially in banknifty when one trades in banknifty fut with Stoploss of just 50 points, the way banknifty moves (sharp ups and downs ) very often we will have to face stoploss of 50 points getting trigerred on up or downside

    Nifty in comparision is more subdued , so 20 points SL for nifty seems reasonable.

    These are my observations

    Need further inputs on the above, if any ?

  2. Bramesh ji
    Applying fractal for stop loss or just 50 points or so which in my point of view fractal is best and this is within 20 or 50 points it is the best

  3. Sir , What is best to trade , futures or Options, if one is focussed only on trading in Index
    ( Nifty & Bank nifty )

    Is the stop loss of 50 points for Banknifty and 20 points for nifty , as suggested in your blogs, apply to both instruments of trading , viz futures as well as options , or it differs ?

    Since futures move faster than Options in Index trading , should the 20 & 50 points stop loss in nifty & Banknifty be higher?

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