08 August, 2023, Tuesday: Nifty and Bank Nifty are moving in opposite direction today. In such a situation traders have to be aware if they are holding their trades for long because market trend is uncertain at the moment.
Specifically, option buyers have to be aware and maintain strict SL to avoid losses. try to book small points and do scalping only.
Currently, Nifty is trading about 25 points down from the previous day closing and Bank Nifty is trading at 185 points above form previous day closing.
Make sure to hold your long position only above the day high or go for short if market sustains below the day low. Otherwise, you can make strangle till the market is in the range.
Also, if you are doing scalping then try to book 8-10 points in nifty and 15-20 points in bank nifty and also maintain strict SL as per 1:1 Risk Reward.
Also Read: Bank Nifty Prediction for Today 8 Aug 2023
