BankNifty was trading in a range yesterday between 40680 and 40520 levels. There was not much of a trade for options buyers(unless you were a scalper).
Today there could be a break out or break down from this range.
My Plan:
- If the market opens flat(40600 levels) or gaps up, then I would would go long once it crosses 40700 levels.
- If the market opens flat or gaps down, then I would go short in intraday once it crosses 40500 levels.
- If there is a big gap down, then there would be panic in the market, which could bring the market down further.
Today there could be a break out or break down from this range.
My Plan:
- If the market opens flat(40600 levels) or gaps up, then I would would go long once it crosses 40700 levels.
- If the market opens flat or gaps down, then I would go short in intraday once it crosses 40500 levels.
- If there is a big gap down, then there would be panic in the market, which could bring the market down further.