Nifty Bank IndexUpdated BankNifty has downside space
Trade Proposal:
Market Analysis:
A short pattern and a bear trend may come in BankNifty after conducting a thorough market analysis.
Breaching the 40830 level after some consolidation may lead to further declines in BankNifty.
Entry Criteria:
A short position in BankNifty Futures will be created if the 15-minute candle closes below the 40830 level before consolidation and retest the resistance. Consolidation is important .Don't worry I will update when to take trade.
Stop Loss:
A stop loss of no more than 200 points will be placed to limit potential losses.
Target:
The target for this trade will be approximately 400 points.
Risk Management:
It is recommended to manage the risk accordingly by not risking more than 2 to 3 % of the entire capital on this trade.
Timeframe:
It may take a maximum of 2 to 3 days to reach the profit target. Regular updates on the trade will be provided via this platform.
Updates:
I will provide regular updates on the trade via this platform so do follow me and invites any questions or concerns in the comments section.
Thank you for considering this trade proposal, and the trader wishes you all the best in your trading endeavors
Market Analysis:
A short pattern and a bear trend may come in BankNifty after conducting a thorough market analysis.
Breaching the 40830 level after some consolidation may lead to further declines in BankNifty.
Entry Criteria:
A short position in BankNifty Futures will be created if the 15-minute candle closes below the 40830 level before consolidation and retest the resistance. Consolidation is important .Don't worry I will update when to take trade.
Stop Loss:
A stop loss of no more than 200 points will be placed to limit potential losses.
Target:
The target for this trade will be approximately 400 points.
Risk Management:
It is recommended to manage the risk accordingly by not risking more than 2 to 3 % of the entire capital on this trade.
Timeframe:
It may take a maximum of 2 to 3 days to reach the profit target. Regular updates on the trade will be provided via this platform.
Updates:
I will provide regular updates on the trade via this platform so do follow me and invites any questions or concerns in the comments section.
Thank you for considering this trade proposal, and the trader wishes you all the best in your trading endeavors
Note
Banknifty is behaving exactly what was expected 40830 is a powerful support if bn break it then i am going to take short position on retest only . I will update so do follow me .Note
curretly bn near our support zone of 40830 let see if this support can be broke by a 15 min candel.Note
let this 5 min candel closes below 40830Note
entered @ 40790Note
my short position in banknifty @ 41790 sl is 41070
target is 40390
this trade has somewhat more risk so manage risk accordingly.
Do your own analysis before taking trades.
I don't recommend any one to take my trades .I will not be responsible for your losses. Do follow me for more trade ideas.
Note
as after 2 consecutive profits this trade has hit my stop lose so I exited it in red. because Bn gave a big gap up. As my risk management was good so this trade only took 50% profit of last trade.Trade closed: stop reached
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.