Friday, 23 June 2017

Nifty Future 23062017

It opened around PDC and started to move down.  There were multiple levels just below.  Looking at the price action yesterday, there was an expectation of rangebound move and with good level of support just beneath, it is not a good idea to go for a BPB short trade.  Rather it makes sense to buy around 9580-85 level with the expectation of rangebound move and earlier price behavior at that level.  Have a look at this chart,

On the other hand, Bank Nifty presented a good setup to go for short after the open and also provided another opportunity to short at range high.


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