BankNifty Game plan for Tomorrow (08/11/2020)

Higher Time Frame Price value relationship:
Monthly - Key Resistance at 27300

Weekly - Higher value relationship with a CPR expansion, mostly market can be ranging.

Game plan for tomorrow(08/11/2020):
- Price value relationship indicating higher value. Market can be ranging.

- Trade Plan A: Any bullish price action seen at 26580 - 26620 go for long with target of 26820, 27000

- Trade Plan B: Any bullish price action seen at 26380 - 26420 can go for long with target of 26600, 26820

- Trade Plan C: Any bearish price action seen at 26980 - 27020 can go for short with target of 26820, 26600, 26400

- Trade Plan D: Any bearish price action seen at 27180 - 27220 can go for short with target of 27000, 26820

- Trade Plan E: Aggressive longs can take if price goes above 27200 with target of 27520

- Trade Plan F: Aggressive shorts can take if price goes below 26400 with target of 26060

My trade will be short CE's or buy PE's as per Plan C/D.

Please zoom-in to see levels on chart

Don't forget to follow, if you make some bucks with these levels :)

All levels are as per spot. Anything can happen. Please have a proper risk management. Happy trading.

Yorum:

Went as per Plan E :)
Traded half quantity only as market went against my view.