30 Apr 2024 - BankNifty's last candle takes out the full day
BankNifty Analysis - Stance Bullish⬆️
Banknifty does a perfect parabola and it really went by the script. Even though my Algos are non-directional - it has a huge hit rate on expiry days as the ATMs usually go to zero and the risk: reward is quite favorable. Despite having a directional move today, the slow grinding worked out in my favor until the 13.59 candle.
We rallied 474pts ~ 0.96% in 12 minutes and then fell 723pts ~ 1.45% in the last 60. I am quite sure, there is absolutely no way you can capture that kind of move via an algo. If you know someone who made money from this move, let me know - I am ready to be his/her student.
On the 63mts TF, notice the last candle, after hitting a new ATH - the profit booking brought us down below the previous close. The entire day's gain was wiped out in a single candle.
Algos were sailing perfectly till the 13.59 candle, quite happy to have given out only 49233 INR as losses today.
Banknifty does a perfect parabola and it really went by the script. Even though my Algos are non-directional - it has a huge hit rate on expiry days as the ATMs usually go to zero and the risk: reward is quite favorable. Despite having a directional move today, the slow grinding worked out in my favor until the 13.59 candle.
We rallied 474pts ~ 0.96% in 12 minutes and then fell 723pts ~ 1.45% in the last 60. I am quite sure, there is absolutely no way you can capture that kind of move via an algo. If you know someone who made money from this move, let me know - I am ready to be his/her student.
On the 63mts TF, notice the last candle, after hitting a new ATH - the profit booking brought us down below the previous close. The entire day's gain was wiped out in a single candle.
Algos were sailing perfectly till the 13.59 candle, quite happy to have given out only 49233 INR as losses today.
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