23 Aug 2024 - BankNifty stance went wrong, not changing neutral
BankNifty Stance Neutral ➡️
Despite BN moving up 587pts ~ 1.17% this week, I am not intending to change the stance to bullish yet. The last time I checked, I preferred a close above 51400 to go long.
We had a flattish Monday, followed by a highly volatile Tuesday. In fact, the moves on Tuesday would have hurt the algo traders pretty dearly, the reason I am sure is because I was one of them.
Wednesday we had a normal and non-directional day, but the last 1 hour of trade was pretty unusual. We went up 366pts in the last 1 hour, giving some early clues that Thursday may be a green day. Friday was again consolidation just like Nifty.
From the Algo perspective, the returns were quite low this week for me even for the good nontrending days. I assume it could be due to the lower premiums and hence the proportionately lower decay.
Wish to start trades on Monday with a neutral stance and then go long if we go above 51400.
Despite BN moving up 587pts ~ 1.17% this week, I am not intending to change the stance to bullish yet. The last time I checked, I preferred a close above 51400 to go long.
We had a flattish Monday, followed by a highly volatile Tuesday. In fact, the moves on Tuesday would have hurt the algo traders pretty dearly, the reason I am sure is because I was one of them.
Wednesday we had a normal and non-directional day, but the last 1 hour of trade was pretty unusual. We went up 366pts in the last 1 hour, giving some early clues that Thursday may be a green day. Friday was again consolidation just like Nifty.
From the Algo perspective, the returns were quite low this week for me even for the good nontrending days. I assume it could be due to the lower premiums and hence the proportionately lower decay.
Wish to start trades on Monday with a neutral stance and then go long if we go above 51400.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.