1. SET UP to Trade Nifty Bank.
- Global markets: Dow Jones future is Flat & Hang Seng is Flat.
- What is on News/TV Market still in range, But trading on Higher end of range. Buying on dips works today.
- Positive News-flow:: Sentiments is High due to large last day relly , FII data Positive & Monsoon has come!!
- Negative News-flow:: Global data- crude near 66$ is worry & dow is nagative.
- 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 will on 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 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 71 Point. Since My Trading Edge is more than 70, I will look for Buying Opportunity only.
- Entry on Edge: Buy- When BN is below 30811.05
- Exit on Fair price: Fair Price for Today's Trade is 31043.05