Trading Set Up for Banknifty on 15/11/2019
1. SET UP to Trade Nifty Bank.
Market is not trending anywhere, But there is mild Bies on Upside.
Market set up:
Today Bank Nifty Force set up is Not too much Supportive for Buying. So, Today is BUY ON DIPS only day. Dont chnase momentum.
Bottom Line :
The Trend is Not define, But last day Flat to mild positive move can support today Up-move and give follow up on upside.
- Global markets: Dow Jones future is Flat to Positive & Hang Seng is Positive.
- What is on News/TV Today can be Green day. This is clearly Buy on dips. Stong bank is leading now & weak bank are falling now. Thus Bank nifty is bit stonger.
- Positive News-flow:: DII are now Buying. Essar judgments is very Important for SBI which schedualed around 10.30.
- Negative News-flow:: Near term, FII selling can be irritant.
- Bottom Line: Sentiments is very Much Positive. Sentiments are not supportive of on going Trend.
3. Game Theory ( Tug of war between Buyer & Seller)
- From where New Buying comes? A. Since Sentiments are Vey Much Positive, the Outside Trader will Buy with Good amount of aggression. B. Trader's with a short Position-"in dips goods" chance for short covering today.
- From where new selling come? A. Since Sentiments are Vey much Positive, Outside Traders will not try to short sell at all today.
- Will there be support from buyers buys on dips?: On Fall- Since the Trend is 'Not Define', There will be a moderate number of Buyers at the lower end which propels the Market to go up from Dips. Moreover at Dips Sellers who wanted to sell has sold off. So buying on dips is the Dominant Strategy as More Buyer and lack of Seller at the bottom of This Non-Trending Trend
4. What I am going to do Today (In Bank Nifty)
- Set Up: Today Bank Nifty Force set up is Not Supportive for Buying. So, Today is Bad set up to buy. You should Avoid buying.
- Sentiments: Sentiments is very Much Positive.
- Trading Edge: My Today Trading edge points clubbing Setup & Sentiments is 71 Point. Since My Trading Edge is more than 70, I will look for Buying Opportunity only.
- Entry on Edge: Buy- When BN is Between 30667-30575
- Exit on Fair price: Fair Price for Today's Trade is at least 30958.95
- Stoploss: One you get a entry, You should follow 70/100 point stoploss, without fail.
It's Significant intellectual property & New way to Analyse the Market which use Unconventional Instruments Like Behaviour Finance & Game Theory for getting clear & Unbies idea for Traders.