Nifty & Bank Nifty both opened down today on 09 August 2023 following the global negative sentiment and traded below the opening level for the whole first half from 9:15 AM to 11:30 AM.
If we see from the perspective of an option buyer, so market is good today for option buying and traders have captured good points in the one way direction of downside.
Nifty & Bank Nifty Second Half Live Updates 🔴
1:15 PM: Currently Nifty & Bank Nifty are still trading lower by 70 and 320 points respectively. Traders may have captured scalping move CE side after 11:30 AM but still the trend is downwards until the previous swing is broken.
1:20 PM: Bank Nifty has fallen 30 more points in the last 5 minutes and the trend is continue in bearish side in nifty as well.
1:30 PM: Sideways to Bearish Momentum is continue in Nifty & Bank Nifty, Buyers can book profits as option premiums are getting decayed.
1:40 PM: Gradually, Nifty has rejected the level of 19470 and moving towards 19524 level upside. Bank Nifty is also revolving between 44680 and 44543 level. Strangle can be a good trade setup here.
2:30 PM: Bank Nifty have recovered by about 160 Points and nifty bounced about 80 points from its day low today and currently trading at 19538.
Trade Setup Advice for Nifty & Bank Nifty Today
Trend and Sentiment both are suggesting for Bearish Setup today, so please try to avoid any upside retracement and stay into the trade only if market moves in bearish side and keep SL of previous swing high to avoid losses in case of sudden movement in the opposite direction.
Unfortunately, if you are sitting in CE side today then please take the SL and close for the day or hedge your position with the PE side as well.
Note: We are updating this post continuously to keep you updated with today’s live market updates, Thanks!
