AhmedabadTradebulls

Sell Banknifty between 30900-31000 Stoploss 31275 Target 30100 (

Short
NSE:BANKNIFTY   NIFTY BANK
Monthly Basis
BankNifty Trading below Last Month low 30996
• It has Last Month High 32613 and This Month High 32465 almost similar
• Monthly candle is totally Bearish Open 32237 High 32465 Low 30521 (It has full negative body) and close Near Low


Weekly Basis
• It is making lower High pattern from last 5 Week there was two high which are similar (32347-32322) which is huge resistance for Bank nifty
RSI in downword
Macd is Negative( signal line crossing MACD line)


Daily Basis
• Close below 100 DEMA 30786
• Average Resistance are 31242 (20 DEMA ) 31275 (50 DEMA ) 30985 (10 DEMA )
• Support supposed to has is 30089 (200 EMA )
• From Last 7 Trading session there is no clear move the range is 31375 to 30521.
Banknifty confirmed it’s head and solder break down around 31000
• All Average and Bolinger bend indicating down side sloping view.
RSI Below 50
MACD in Negative
• ATR is Flat


Strategy:
Sell Banknifty between 30900-31000 Stoploss 31275 Target 30100 (
Trade closed: target reached: target 30000

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