BANKNIFTY Simplifying Price action from Current Context
Banknifty has reached a potential destination for this upmove. The range of 20200-19850 is pretty much the near term reference to watch out , once we break outside this range we have a potential move to 20800F on the upside and 19200F on the downside.
Now potential strategies to trade that move:
1. For the simpler on look to trade scalping pullbacks in this range with stops outside the range window.
2. Take a break out outside this range to capitalize a potential 500+ points move.
3. Can sell strangles 19500-20500: for this week has a total net credit of 350 points.
Now potential strategies to trade that move:
1. For the simpler on look to trade scalping pullbacks in this range with stops outside the range window.
2. Take a break out outside this range to capitalize a potential 500+ points move.
3. Can sell strangles 19500-20500: for this week has a total net credit of 350 points.
Commento:
Longs initiated for a break above 20200 areas
Commento:
All your analysis should culminate to one decision point or zone, after that it is just managing size, executions and risk of failures
