From today's multi-view charts (taken at 13:30 IST), outlook for 
BANKNIFTY looks pretty clear in 3 out of 4 timeframes using ESI Indicator.
Combined with VIX, it becomes easy to identify whether to go Long or Short Options, in which direction, and for what timeframe.
Please check our previously published idea for an overview of ESI Indicator and how you can use it free for 7 days:
BANKNIFTY looks pretty clear in 3 out of 4 timeframes using ESI Indicator.Combined with VIX, it becomes easy to identify whether to go Long or Short Options, in which direction, and for what timeframe.
Please check our previously published idea for an overview of ESI Indicator and how you can use it free for 7 days:
Note
The outlook for each timeframe should probably read:* Intraday
* 1-2 days
* 1 week
* 2-4 weeks
Note
ESI works well as a short term indicator, however longer term movement involves "overnight/weekend" and "event" risks which cannot be predicted using any form of Technical Analysis.So please take the multi- day/week outlooks with a pinch of salt.
Based on our backtesting and proven results, ESI is good for the short-term.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.