trend line proved too much it.
Bank nifty just cooling down from over bought zone (stochiastic)
I was observing in 5 minutes time frame
its high was to touch the trend line in the 1st hour
towards the end it went near it and then subsequent fall took place.
Baring last hour it was trading in a tight range.
It appears if it breaks today's low it will go back to the support black line shown in the chart.
Indeed it has to cross the trend line to move higher.
I was doubtful of its crossing the trend line and was in to 37800 PE which rose from 430 to more than 750
even touched 800.
Now please watch if it goes down to touch the support line.
This is my analysis not any kind of trading recommendation.
Don't forget to like this post, follow me to get updates
Bank nifty just cooling down from over bought zone (stochiastic)
I was observing in 5 minutes time frame
its high was to touch the trend line in the 1st hour
towards the end it went near it and then subsequent fall took place.
Baring last hour it was trading in a tight range.
It appears if it breaks today's low it will go back to the support black line shown in the chart.
Indeed it has to cross the trend line to move higher.
I was doubtful of its crossing the trend line and was in to 37800 PE which rose from 430 to more than 750
even touched 800.
Now please watch if it goes down to touch the support line.
This is my analysis not any kind of trading recommendation.
Don't forget to like this post, follow me to get updates
Comment:
at around 12.15 five minutes candle did cross the trend line but could not sustaion.
Comment:
Comment:
this was my trade setup for today.
Comment:
bank nifty has not yet violated Friday's low .
