Rattibha

Umang

12 Tweets 2 reads Apr 10, 2023

My Banknifty Option Trade Plan for 23/03/23
(1/n)
#banknifty #StockMarketindia #StockMarket #optionbuying

Scenario 1 : Flat Opening
I want some range consolidation in 40030 (200ema) and 39700
I do not want banknifty to open flat and straightaway go up with no base
We need some breather as well
I will wait for it to consolidate and then Give a breakout above 40030-40050
(2/n)

Scenario 2 : Gap Up
Will treat a small gap up same as flat opening
But I do not want it to give a gapup and open straight at the resistance zone
If that happens I will avoid taking any options trade in the first half and observe how the market behaves
(3/n)

Scenario 3 : Gap Down
Gap down in the support zone of 39600-39700 will be a good opportunity to go long
I will trade that based on candlesticks instead of a base pattern
(4/n)

As of now, I have no plan of going short tomorrow
Only two trade plans
1. Go long after range BO above 40030-40050
2. Go Long based on Doji/Hammer or 5Ema strategy at support zone of 39600-39700
(5/n)

I always try to keep SL below 100 points
And I generally do not have any particular target in mind apart from 4RR where I book Half position
And I trail rest as per momentum
(n/n)

Opened Gap Up so call buying is not favorable right now
I will wait

BANKNIFTY
As I said buying at the open was not favorable
I need at least 2 contractions here to get a low-risk entry, 3 would be even better
#StockMarketindia #StockMarket #OptionsTrading #banknifty