Banknifty daily view for 21-09-2021

After a bullish trend in Banknifty, it seems Banknifty is bearish and oversold level. 36800-36900 is a strong support level and Banknifty may turn upwards from the mentioned level. Be attentive with the FOMC meeting conclusion and Japanese financial news and Chinese Reality sector news. Our market will react to these three news. If Banknifty breaks 36800 then next support is 36500 levels and 36000 psychological levels. Let see what will happen in the market, tomorrow. I recommend to avoid trade but if you want then do it in small quantity as scalping trade.

Banknifty intraday trading on 20-09-2021

 As depicted in below image, you can trade accordingly

1. If Banknifty (15 minute candle) crosses 37950 level then you can buy 38000 CE for 100 points or more, trail the stoploss with the up move.

2. If Banknifty (15 minute candle) crosses 37450 level then you can buy 37500 PE for 200 points or more, trail the stoploss with the down move. My suggestion is to avoid trading for PUT or downside movement, it may be a trap because Banknifty trend is Bullish.

3. Avoid trading in the range between 37950-37450, because it is a trap zone, but you can do scalping trade for 5% +, only.

 

 

 

Banknifty is again in parallel channel:

Various trading styles in stock market

  

1. Positional Trading Style: This is a long term trading style for which a stock market instrument is taken for few months or years for good gains of 50% to 100% or more.

2. Swing Trading Style: This is a short term trading style for which a stock market instrument is taken for few days or weeks for expected profit of 5% to 10% more more.

3. Day Trading Style: This is also known as intraday trading for which a stock market instrument is taken for a day (no carry forward position) for 1% to 2% or more gains.

4. Scalp Trading Style: This is an extremely short term based trading style for which a stock market instrument is taken for few seconds or minutes to get good gains.