Do you want to trade Nifty Share Price and Banknifty Share Price like Smart Money does? Then you are at the right place because I’m going to show the best way to analyse trade volatile markets like Nifty and Banknifty plus a few extra’s.
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But before that lets go through the standard disclaimer – Derivatives Trading involves substantial risk of loss therefore is not suitable for all investors. Past Performance is not necessarily indicative future results. All information shared here is for educational purpose only. – Read Full Disclaimer
How Nifty and Banknifty traded today?
Slack Update 1
Markets opened with imbalance higher. The initial development begged for continuation higher.
Slack Update 2
Nifty order flow chart showed lot of sellers attempting to mark the prices down, but they were not getting any follow through. These sellers looked more like the fuel for the next leg up.
Slack Update 3
Markets looked like they were absorbing the overhead supply. Order Flow charts too were supportive of this development. We were waiting for new business above the loop of the small ‘P’ that formed.
We got the development we desired and markets spiked sharply higher. Markets closed off the highs a little but going into the close.
How to trade Nifty and Banknifty tomorrow?
The late spike on both the indices was due to short covering. All the shorts from the composite gave away to result in a nice spike higher. Now we are very close of ATH on both indices, and the ball is in the court of buyers. They should not let go now, else we may slip into further consolidation.
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