UNITED STATES OF BANKNIFTY

Top_Massage

Well-Known Member
Alright folks .... moving forward .... we just have to focus on only one level i.e. 29500 spot level in Banknifty ....

Breaching and staying below 29500 decisively, we may slip further .... but if bulls can somehow protect 29500 for long enough, then we can climb once again ....

Choose wisely ... Trading is all about making right choices .... Best wishes .....

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Top_Massage

Well-Known Member
OK guys .... Banknifty needs to surpass the tiny range of 29950 to 30000 which is currently acting as a minor obstruction for bulls.

On staying above this range, we will climb towards 30150, 30250 and so on .... But staying below this tiny range of 29950 to 30000 for longer will cause a problem for bulls and we may ultimately slip towards 29500 ... on slipping further below 29500, bears may takeover ....

Choose wisely .... Confirm the trend ... and try to enter when premiums are low enough .... good luck to all

Disclaimer: This forum is meant for educational purposes only.
 

Top_Massage

Well-Known Member
We are now standing at a crucial point in Banknifty .... surpassing and staying above 29950 to 30000, we can climb further for higher targets ...

But failing to surpass this level for long enough, we may slip once again and slip very badly towards lower targets ....

Be aware of high option premiums ... choose wisely .... good luck to all ... hope you make good money ....

Disclaimer: This forum is meant for educational purposes only.
 

Top_Massage

Well-Known Member
Well ... I just got a query from direct message regarding "Rising VIX and it's relation with upward movement" ...

Let me just answer this in short:

-- Rise in VIX doesn't always mean that markets will fall only. It's a myth. Hence, surging VIX is not always good news for PUT buyers or shorters.

-- I have been observing VIX for past few months, and this is what I can tell you ..... Rising VIX these days (as we approach election results date) signify that it won't necessarily support only one particular directional movement but rather intraday major moves will be quick enough. It means that Banknifty can suddenly move 150 points to 200 points within five minutes to half an hour and can consolidate for rest of day. These moves may not be easy to catch always.

-- Hence, VIX above 20 means quick volatile moves from trading point of view. Theoretically, it means surge in speculation.

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Top_Massage

Well-Known Member
OK guys .... so I am receiving quite a few direct messages from some of my friends these days .... There's a reason why I stopped sharing my executed trades with you ....

To begin with, I received a direct message from one of the forum readers. It was probably couple of months ago. He suggested me to stop posting screenshots of my profitable trades. He said that it doesn't make any sense and doesn't look good either. He also recommended that I should post only the screenshots of buying price and selling price and timing of entering a trade while hiding the quantity or number of lots bought. I respected his views and hence, I decided not to post profit or loss in rupees and decided to show only buy & sell price of my trades while blurring the quantity of lots.

But then few weeks ago, another reader requested me to share only the outlook/view of market and support and resistance levels. I respected his suggestion and did the same.

But now, I am again getting requests from other readers to start posting screenshots of profits (or losses) along with buy/sell price and timing of entering the trade. They say that it might be helpful for new traders and may just boost their confidence a bit while starting their own journey in market. So, friends, I just wanted to say that I always respect my reader's opinions and therefore, I have decided to start sharing my own views and outlook on markets (which already I have been doing), screenshots of my trades showing profits/losses (along with buy/sell price, lots purchased and timings) and support & resistance levels.

Thanks for the support .... I am glad that people are liking this little forum.

Disclaimer: This forum is meant for educational purposes only.
 
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Top_Massage

Well-Known Member
I would like to request all my brothers and sisters here at Traderji to kindly contribute towards Odisha CM Relief Fund. Your each help will go directly to the people affected due to cyclone Fani. Your each contribution will facilitate smooth flow of food, water, shelter etc to the people affected. Those people need you today! I did what I could do. Requesting you once again for your kind help. Thanks a lot. God bless you all.


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Top_Massage

Well-Known Member
OK guys .... For near future, we just have to focus on two broad levels in Banknifty .... those levels are 29500 and 30000 ....

Breaching and staying below 29500 in near future, we may go down further ... But if bulls could somehow stay above 30000 for long enough in near future, then we can see much higher targets ....

But the problem is that NIFTY is badly stuck between range of 11550 to 11800 .... Now, the big question is:- "Can markets get out of this range to produce one last major move before election results date?" .....

Keep watching closely .... Good luck

Disclaimer: This forum is meant for educational purposes only.
 

Top_Massage

Well-Known Member
OK guys .... we are now standing at a crucial point in Banknifty ... we just have to focus on only one level as of now ... please remember that 29500 is the deciding level for near future ... it's the make or break level .... we shall definitely come to know tomorrow if bulls have the strength to protect the wall of 29500 ...

Breaching and staying below 29500, we will get to see much lower targets ... but staying above 29500 for longer, we will eventually march towards 29900 to 30000 in near future ....

Keep tracking guys ... choose wisely .... best wishes ....

Disclaimer: This forum is meant for educational purposes only.
 

Top_Massage

Well-Known Member
Wait for the right time to enter guys .... options is all about timing of trade ... traders should know how to deal with melting premiums ... let the intraday premium erosion complete first ...

I will try to enter in second half today .... We already have the levels with us .... Best of luck

Disclaimer: This forum is meant for educational purposes only.
 

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