BN is not bearish - Do not short

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Do not short BN! It's only a gap down. Wait for price action and look for intraday Long opportunity.

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ملاحظة

No trade on BN - nothing long and nothing short.
There is a possibility of a long short covering rally setting up on Nifty though later in the afternoon. However, this needs confirmation.

٩ سبتمبر ٢٠٢٤

ملاحظة

Following up from the last week, this week, my view is BN to be sideways/bullish.
It should stay above 50,000.
Hence, for this week expiry, my hedged strategy would be:

Sell 50,000 PE
Buy 51,600 PE

It is better to work with hedges in such a choppy environment.

٩ سبتمبر ٢٠٢٤

ملاحظة

As I mentioned earlier, BN is clearly the leading index. Nifty will lag from now on.
The simple reason being that Nifty has already rallied more than expected.

٩ سبتمبر ٢٠٢٤

ملاحظة

Bank Nifty looking good for an intraday rally to 51,240 levels based on current price action.

١٠ سبتمبر ٢٠٢٤

أغلقت الصفقة: تم الوصول للهدف

Booked the Intraday rally profit last afternoon. I have closed the earlier positional trade with a loss and taken a Debit Spread for tomorrow's expiry -
50,600 CE BUY
51,500 CE SELL

١٠ سبتمبر ٢٠٢٤

أغلقت الصفقة: تم الوصول للهدف

Booked profit on the 50,600 CE BUY. Will allow the 51,500 CE SELL to expire. The understanding is that BN will not close above 50,600 in this expiry.