Below are 2 simple BankNifty strategies you can follow to make money with BankNifty. These are simple, easy to implement, and do not require too much technical chart analysis know how on your part.
BankNifty is a group of 12 banking stocks, each holding different weightage in banknifty. HDFC bank and ICICI Bank, these 2 alone form 50% of BankNifty. HDFC holds 35% weightage, and ICICI holds 15%.
To trade, you can do 2 things.
1. Depend on overall market sentiment.
Suppose if overall market sentiment is good, at 9:30am, and its also good 15 minutes later around 9:45am, then take a BUY intraday trade in BankNifty.
The opposite is also true. If sentiment is poor near 9:30am, and it gets worse around 9:45am, then take a sell trade in banknifty for intraday trading.
Please remember, this strategy works only in intraday. Avoid taking your position home.
To keep track of live sentiment, I use this website:
https://munafasutra.com/nse/FearGreedMeter
I prefer to trade in BankNifty "options" rather than in BankNifty "Futures".
You can use that same website to keep track of BankNifty options chain. Its here (updated daily):
https://MunafaSutra.com/nse/optionAnalysis/BANKNIFTY
There is another strategy you can follow in BankNifty.
2. Depend on BankNifty 15 minute charts.
For this strategy, all you have to do is open 15 minute charts of Banknifty, and wait for one candle which gives a move larger than 50 points.
Then take a trade in that same direction. Keep candle open as stoploss.
You can easily expect another 50 to 100 points run up/down in BankNifty with this strategy.
50 points might not sound too much, but multiply that with LOT size of banknifty, 20 per LOT. And your profit becomes 50x20=1000 rupees per LOT.
Once you have enough practice, increase number of LOTS. For 2 LOTS your profit will be 50x20x2=2000 rupees and so on.
- 00e Buy Sell
- 00ebook
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