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Banknifty Trade Plan 13/08/2020

Updated: Aug 19, 2020



Market texture of " Buy on dips" likely to get tested tomorrow. With Russia announcing about a vaccine can probably expect some minor profit booking. Global markets remain positive with S&P 500 almost testing it's all time high. Lagging stocks have started to show some sort of momentum. If banknifty is able to hold below 22300 levels 30 mins post open, will short 22300 weekly contract calls. In case of aggressive moves will buy into 22500 calls for a hedge. FII have bought INR 351CR and DII have sold INR 939.67CR.

As per FII change in oi data 5034 contracts unwind ed in index futures and 10905 contracts added in index futures shorts followed by same pattern on stock futures.


*above view is my personal view and shouldn't be traded without understanding the risk and psychology. Do your own research and consult your financial advisor before initiating any trades.

 

 


Trade plan played out well as per mentioned above. Hope everyone made good bucks. Stay safe and have a nice day.