1. SET UP to Trade Nifty Bank.
- Global markets: Dow Jones future is Flat to Negative & Hang Seng is Negative.
- What is on News/TV If BN cross last day high of 19191, then hugh chnce of short covering.
- Positive News-flow:: FII data are very bullish.
- Negative News-flow:: State Govt Bond aucation has yeild of 7-9% & Bond market crashing overnigh. Bad for PSU bank.
- Bottom Line: Sentiments is Mild Positive. Sentiments is also supportive to upmove.
3. Game Theory ( Tug of war between Buyer & Seller)
- From where New Buying comes? A.Since sentiments are Mild Positive, the Outside Trader will Buy with very Mild Force. B. Trader's with a short Position-"less" chance for short covering today.
- From where new selling come? A.Since Sentiments are Mild Positive, Outside Trader may Go short on Rise Only.
- Will Seller sell on rise? There may not be any resistance from Seller side as most have sold their position
4. What I am going to do today (In Bank Nifty)
- Set Up: Today Bank nifty Force set up is Very Much Supportive for Buying. So Today is Great set up to buy. Today, you should not miss the opportunity on the upside.
- Sentiments: SentIments is Mild Positive.
- Trading Edge: My Today Trading edge points clubbing Setup & Sentiments is 52 Point. Today, I 'don't have Any Edge', So I will ' Not Trade Today'.
- Entry on Edge: Buy- When BN is Between 18832-19010
- Exit on Fair price: Fair Price for Today's Trade is at least 19356 - 19467
- Bottom Line for Day : Dont trade -Take a day off