In this chart we've marked 2 price levels which have been determined based on previous day high (PDH) and previous day low (PDL) of Banknifty. The zone between these two price levels is a strict "No Trade Zone".
If Banknifty crosses the PDH, we will be looking for long opportunities and if Banknifty crosses the PDL, we will be looking for short opportunities.
Entry criteria:
Stop Loss criteria:
Ideally the stop loss should be palced just below (in bullish case) or just above (in bearish) the nearest retracement on the spot chart; this is a just a guide though - in some cases you might actually have to deploy your own discretion. Assuming you're trading at-the-money (ATM) options - the stop loss wouldbe half the stop loss on the spot chart of Banknifty.
Take profit criteria:
Please note the given zones are valid only until the end of the day. Any open positions must be closed by 15:20 PM IST.
If Banknifty crosses the PDH, we will be looking for long opportunities and if Banknifty crosses the PDL, we will be looking for short opportunities.
Entry criteria:
- Bullish case: Breakout to be followed by retracement which in turn would be followed by a 5 minute candle close above the DAY HIGH.
- Bearish case: Breakout to be followed by retracement which in turn would be followed by a 5 minute candle close below the DAY LOW.
Stop Loss criteria:
Ideally the stop loss should be palced just below (in bullish case) or just above (in bearish) the nearest retracement on the spot chart; this is a just a guide though - in some cases you might actually have to deploy your own discretion. Assuming you're trading at-the-money (ATM) options - the stop loss wouldbe half the stop loss on the spot chart of Banknifty.
Take profit criteria:
- ATM Option Buying (Next Week Expiry): Enter with 2 lots. Exit lot number 1 at 1:1 RR. Once 1:1 RR is hit, set Stop Loss of lot 2 to cost and take profit of the same at 1:3 RR.
- ATM Option Selling (Current Week Expiry): Enter with 2 lots. Exit lot number 1 at 1:1 RR. Once 1:1 RR is hit, trail profit in lot 2 with the help of 15 EMA on the option chart; exit lot 2 on 5 minute candle close above 15 EMA.
Please note the given zones are valid only until the end of the day. Any open positions must be closed by 15:20 PM IST.
주문취소됨:
In spite of a breakout on the downside, owing to the absence of a retracement followed by a day low breakout on the 5 minute timeframe - no trade was taken.