Bank Nifty Trading – 01July2020

This is the 15 min chart of Bank Nifty. Price is making new highs but momentum is not supporting, so we should take profits on long positions and reduce long positions to one-third or one-fourth.

We have been long on Bank Nifty Futures from 21,300 and now the futures are at 21,900. So we have gained 600 points rapidly, and we should take the profits.

If you are trading Bank Nifty Call Options, then you should definitely take profit on at least half your position, and keep 21,800 as stop loss to exit fully.

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