09 Apr - BankNifty is structurally more Bullish than Nifty50
BankNifty Analysis - Stance Bullish ⬆️
BankNifty does an inverted V pattern today due to which the Algos went negative. Was quite happy that the losses were contained in the end, but what I learned is that sharp rises & falls take out the stop losses at both ends. And what is the end result? We are treading nowhere.
On the higher timeframe, BN looks more bullish than Nifty. Just like we discussed yesterday, only if we take a pause and retrace a few points - we can mark the higher high. Since the 11th is a holiday due to Ramadan, both Nifty and BankNifty will have the expiry tomorrow.
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Algo Trading
The trades ended today with a loss of -18294. There is no way the Algos can defend a V or an inverted V shape. The best I could do was firefight the same manually, but I decided otherwise.
BankNifty does an inverted V pattern today due to which the Algos went negative. Was quite happy that the losses were contained in the end, but what I learned is that sharp rises & falls take out the stop losses at both ends. And what is the end result? We are treading nowhere.
On the higher timeframe, BN looks more bullish than Nifty. Just like we discussed yesterday, only if we take a pause and retrace a few points - we can mark the higher high. Since the 11th is a holiday due to Ramadan, both Nifty and BankNifty will have the expiry tomorrow.
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Algo Trading
The trades ended today with a loss of -18294. There is no way the Algos can defend a V or an inverted V shape. The best I could do was firefight the same manually, but I decided otherwise.
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