Recommendations for Bank nifty 16/08/2021(Monday)
Just 2 Trade entries for today!! Have a right entry and get the profit to exit rightly
1) Until BN stays above 36140, watch for the up movement. BUY CE Above 36235 for target 36320 . 100 Points to capture.
2) When it breaks below 36086, it has taken a bearish trend. Risk takers can do early enter into PE BUY position at 36080 for target 35900. stop loss 36086. Safe PE ENTRY BUY below 36020 for target 35900. 100 points to capture.
At 35900 , wait for a clear reversal to enter into CE Buy . If it breaks below 35900 , the next support is35800 and look for reversal . If it breaks8, the next support is 35700. Its 100 points support build lines are present. At any of this point there can be a reversal to upside which we have to be cautious.
No proper option data build is currently present as there were unwinding at both sides on Friday as profit booking we can wait to track the option build-up in later in day.
Thanks,
Trade profits