praveen.bhatiya

Nicely formed Channel > possible Trade !

Short
NSE:BANKNIFTY   NIFTY BANK
Bank Nifty has formed a beautiful channel which offers a short trade at current level as it has touched the upper boundary and traded above it but closed below and the red candle have confirmed it. So One can short it at the current level with SL of recent High. It offers a good Risk to Reward Ratio.

Entry 20800
SL 22150
Target 17200
Risk/Reward Ratio 2.70
However it works as a trap for small trader and SL triggers one can reverse the position to buy for the target mentioned in the chart.

Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
Trade active
Trade active: Trade is doing well so lower the Stop Loss at entry price. It is a risk free trade now :)
Trade closed manually: The trade is closed at no loss and looking for another trade in it as mentioned above. :)

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