Nifty Bank IndexLong
Banknifty near its positive breakout, Ready for buy
Updated
Banknifty Chart Analysis - 27 July 2019
After a one week continuous fall, Banknifty started to show some signals for making positions on buy side.
First it has broken a downward trend line of 4 hour, now breaking a trend line even for 1 hour chart. Rsi is also showing a divergence on one hour chart, which means a upward trend is near.
Another signal for buy will come, when banknifty will start trading above the previous swing high on a 1 hour chart.
One can keep in radar list to buy banknifty when a strong upward trend is confirmed, Currently it is showing signals for buy but not a clear upward trend confirmation.
You can follow me for regular posts on banknifty view.
After a one week continuous fall, Banknifty started to show some signals for making positions on buy side.
First it has broken a downward trend line of 4 hour, now breaking a trend line even for 1 hour chart. Rsi is also showing a divergence on one hour chart, which means a upward trend is near.
Another signal for buy will come, when banknifty will start trading above the previous swing high on a 1 hour chart.
One can keep in radar list to buy banknifty when a strong upward trend is confirmed, Currently it is showing signals for buy but not a clear upward trend confirmation.
You can follow me for regular posts on banknifty view.
Trade closed manually
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