Short Bank Nifty Below 31000:
Target: 30450-30550.
Stop Loss: 31050.
RSI and MACD suggest shorting possibility.
Look at RSI for retracement till 50.
Look at MACD for histogram and preferably trade after the red part of the histogram begins till it peaks.
Target Won't be activated if Bank Nifty Opens Gap up which is unlikely for now.
Long possible above 31500 but seems unlikely right now.
Bank Nifty is in consolidation phase and may seem to continue in the same on 01/01/2020 in which case it is not advised to trade due to the low volatility due to holidays.
Note: This post is only for educational purposes.
Target: 30450-30550.
Stop Loss: 31050.
RSI and MACD suggest shorting possibility.
Look at RSI for retracement till 50.
Look at MACD for histogram and preferably trade after the red part of the histogram begins till it peaks.
Target Won't be activated if Bank Nifty Opens Gap up which is unlikely for now.
Long possible above 31500 but seems unlikely right now.
Bank Nifty is in consolidation phase and may seem to continue in the same on 01/01/2020 in which case it is not advised to trade due to the low volatility due to holidays.
Note: This post is only for educational purposes.
Comment:
Upside Breakout seen today. Upside targets open now.