BANKNIFTY Risk/Reward Intraday play for 18 Dec,19
Atualizado
Zones are mentioned on the charts. If I am not trading, will try to update this live.
Nota
The Zone effect,Anyone who was tracking BANKNIFTY against its main drive for the day, HDFCBANK.. will understand what I am saying. Today the end of second last half hour, Banknifty was rising but momentarily HDFCBANK had just begun profit booking for the day.
I was long with 32300 CE (weekly). While profit booking HDFCBANK made one swift move back upwards (just one candle at 15:09-15:10), at that moment Banknifty touch the Extreme UZone...and at that exact moment I booked my CE.
Nota
Attached is the screenshot of exit of CE.prnt.sc/qch56s
PS: Check the price and time on chart to understand how its done.
Nota
Newbie's take, See you gotta understand what you have bought, is it cheap or its pricey. I bought ce to play momentum, but along the way i realized, banknifty was making new highs but my CE hardly rising. Considering zones, I knew banknifty will atleast touch extreme zone, which will create a bull trap opportunity and also create a quick surge in CE. That was my decided exit point. It touched, I booked at market price.Its not easy for anyone who's new to the zones concept to take a good entry with zone. But its comparatively easier for anyone to exit with zones. Basically, lower your losses with good risk to rewards and protect your profits.
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