Sankalp Profile picture
May 16, 2023 11 tweets 4 min read Read on X
Shared this setup not just here but with my @HavanaOreen students as well at 11.45 am for #banknifty. This was the zone where most conventional studies could have been neutral to the max but not bearish for sure. But there lies the difference of having a view and trading the Image
view. To understand the context lets see what happened on 15th.I had shared a level in bnf spot which had unfinished business.Yesterday this level absorbed the whole day’s demand and didn’t let price close above it and notice how HiPro turned bearish by closing despite being Image
above the conventional norms of looking at RSI above 55. Now lets see today’s chart.Since opening there were 2 failed attempts to approach the zone whereas HRSI remained bearish.Since opening the index components were showing strength but not the right intent. Whenever this Image
Happens it’s Gravity that wins in the end. There was a 3x supply cloud on top - thats the reason I did not take a single long trade today. A student even sent me a DM that I am too biased today. My reply was simple , either turn the captain bullish or let the other components
Push BNF above 44141 but until that happens i will keep looking for short trades. Now speaking of the captain, which was also one of the SFTs today . Had a similar bearish structure with 4x supply loud on top Image
I hope by now if you are still reading you wont be keeping a bullish approach for the day.the execution vehicle 44200 pe failed in the first attempt to breach the execution zone. I always reiterate that I need some part of the candle’s body above a marked resistance zone Image
A wick is just a means of the market to lure the weak hands where as a body ensures commitment of follow through
During the 2nd attempt the breach was decisive but the candle closed above my comfort zone of taking the trade at 352 level. Image
Its even better if you ask me

1. This just became a high probability setup
2. Instead of the usual 30 point stop loss I now have the
luxury of keeping the stop loss at just 15 points ( the last supply zone - BPOC pivot marked in orange .
Now since the move happened post 3 so there wasn’t much time left for it to reward. Yet I took it and it rewarded 1:3 while being in complete control of the trade. Now I am a system oriented rule based option buyer so my way of looking at markets and general direction might be
Different than yours. But every trader before risking even a single rupee should have a sense of direction, understand the context and should be willing to embrace the stop loss if at all the setup fails. Hope you learnt something through this thread , for tomorrow
as well the view remains same unless the components show intent. Thanx for reading TC

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More from @csankalp

May 13, 2023
Hope people marked the zones and made use of them yesterday for #banknifty now anything that can be learnt from yesterday ? N I specifically mentioned " If you are an Options Buyer "

1. A buyer only makes money when there is a range expansion - what is the simplest way to Image
understand if there is a range expansion - Look at +/- DI if they are trading closeby and are below 25 you might make a few bucks by scalping(40-60 points in Spot) but it wont facilitate a range expansion (300+ points )

2. When price is between @HavanaOreen Bullish and Bearish Image
Breakout Zones the ADX generally is closely knit so we only expect scalping moves in the zone. People usually take years to master scalping as not everyone has fast execution and analytical skills and these dead zones contribute to the time where maximum people exhaust both their Image
Read 18 tweets
Nov 8, 2022
Any Idea how stress affects our health ? If you are going through what I went through then this thread will be helpful for you , if you are not there yet then this thread might be helpful for you to keep stress at bay.

I have been a Banker for 11 years and lived under the Image
assumption that my demanding job made me immune to stress and I have unlimited multitasking capabilities. I was completely wrong ofcourse , being a full time trader I already had my stress plate full & on top of that I started teaching and then livestreaming in Feb 22. I never
used to be tired and since childhood have a habit of only sleeping for 5-6 hours a day but post live streams I used to be so tired,I started sleeping in the day time. I started waking up tired and was always in an irritable state. This continued for sometime and then comes March
Read 19 tweets

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