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Saishayu Option Scalpers Educational Roller Coaster Ride Today in Bank Nifty! Bulls n Bears were in amusement park mood!

Roller Coaster Ride Today in Bank Nifty! Bulls n Bears were in amusement park mood!

It simply a WoW Day today! How beautifully Bulls & Bears controlled market! Truly it was option seller’s market till 2.30 pm. Buyers who entered late, were screwed up! As mentioned in my yesterday’s post, 42500 & today’s low level was nicely respected for bot side reversal. It was a roller coaster ride today. Someone who traded based on planned levels, would have definitely earned loads of money today, even as a Buyer.

As mentioned in the screen yday, which is appended here, Demand Zone is still Active & any dip to this level is getting bought aggressively like a hungry devil. Bulls are NOT allowing any fall below this level. Its 8th day now in a row, where Bulls have defended this level since early this year. 41200 to 41800 area is looking like Bull’s Territory & a hyper Demand Zone! Bears if at all want to break down, need to get equipped with huge volume there. Bulls on the other side, 42500 is the most tricky resistance where everything is getting rejected! In a nutshell, BNF is stuck in the range of these 300 points technically – 42200 – 42500.

After a killing assault by bears today, I was of opinion that Bears would break demand zone but volume wasn’t encouraging towards last leg. Hence, a Daily TF candle which was looking like a Doji till 2 pm, became Hammer kind of a candle again, though not exactly a Hammer with upper wick.

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