Trading Set Up for Banknifty on 11/09/2019

#1

1. SET UP to Trade Nifty Bank.

  • Trend:
  • Bank nifty's downtrend seems to exhausting now. Buyers/ demand try to make a comeback & supply also gets reduce on further dips today.
  • Market set up:
  • Today Bank nifty Force set up is Supportive for Buying. So Today is Good set up to buy. Today, you should look to Buy.
  • Bottom Line :
  • The Trend is Down, But it is end of downtrend. The Trend can change itself to Upside Today.>>Good set up to Buy.

    2. Sentiments

    • Global markets:
    • Dow Jones future is Flat to Negative & Hang Seng is Flat to Positive.
    • What is on News/TV
    • FII selling is very Low But We are in Bear market overall. 27650 is Line in sand, then it can work as major Point to any direction! It is bear market relly!
    • Positive News-flow::
    • FII selling is Low.
    • Negative News-flow::
    • Bottom Line:
    • Sentiments is Mild Negative. 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 mild Negative, the Outside Trader will Buy on DIPS only. B. Trader's with a short Position-"less" chance for short covering today.
    • From where new selling come?
    • A. Since Sentiments are mild Negative, Mild new short selling expected from outside Traders.
    • Will there be Resistance from 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 Supportive for Buying. So Today is Good set up to buy. Today, you should look to Buy.
    • Sentiments:
    • Sentiments is Mild Negative.
    • Trading Edge:
    • My Today Trading edge points clubbing Setup & Sentiments is 53 Point. Today, I 'don't have Any Edge', So I will ' Not Trade Today'.
    • Entry on Edge:
    • Buy- When BN is below 27369.65
    • Exit on Fair price:
    • Fair Price for Today's Trade is at least 27617.65
    • 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.

    Abhikumar Patel
    Twitter
    https://twitter.com/abhi_9392