1. SET UP to Trade Nifty Bank.
- Trend: (⇓-End of Down 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 :(⇓- Opposite to trend ) Today Bank nifty Force set up is Supportive for Buying. So Today is Good set up to buy. Today, you should look to Buy.
- F&O Trader position: (⇔- Basis is flat ) The Difference between Bank Nifty future and spot (Basis) is now 62 Points. The Basis has risen from last day about 8 points.
- 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.>> Basis rise.
- Global markets: Dow future is flat+ Asia is Mild Positive.
- What is on News/TV Today can be choppy day, as Positive news is factor in & major tredn has not change to upside. Trade Boundries.
- Positive News-flow:: PSU bank recap, but I think relly is alredy done in last few days. & FII turn buyers.
- Negative News-flow:: FED see balancedsheet reduction this year.
- Bottom Line: Sentiments is Mild Positive. Sentiments are supportive of upmove.
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 Positive.
- Trading Edge: My Today Trading edge points clubbing Setup & Sentiments is 63 Point. Since My Trading Edge is more than 50, I will look for Buying Opportunity only.
- Entry on Edge: Buy- When BN is below 26961.5
- Exit on Fair price: Fair Price for Today's Trade is 27096.5
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