Bank Nifty has more downside space.

28 Mar 2023

Trade Proposal:
After conducting a thorough analysis of the market, I have identified a short pattern and a bear trend in Banknifty. If the 39300 level is breached, I anticipate that Banknifty may experience further declines. In such a scenario, I plan to short BN with a stop loss of no more than 400 points and a target of approximately 800.

Entry Criteria:
If the 30-minute candle closes below the 39300 level, I will create a short position in Banknifty Futures.

Stop Loss:
I will place a stop loss of no more than 400 points to limit potential losses.

Target:
My target for this trade will be approximately 800 points.

Risk Management:
It is important to note that Banknifty is one of the most volatile indexes. As such, I strongly recommend managing your risk accordingly. I suggest not risking more than 2-3% of your entire capital on this swing trade.

Timeframe:
Since this is a swing trade, it may take a few days to reach the target. However, I will keep you updated on any developments.

Updates:
I will provide regular updates on the trade via this platform so please follow me . Feel free to ask any questions or share any concerns you may have in the comments section.

Thank you for considering this trade proposal, and I wish you all the best in your trading endeavors

8 Apr 2023

Catatan

as Bank nifty did not break important support of 39300 and moved up . there was no point to enter this trade. Stay tuned for more new ideas to make money .