Bank Nifty Trading Strategy for 2nd June'2020.
If I am see the chart correctly, there is breakout of breakout happned around 19450 levels.
17105 to 20122 recovery took 63 bars on 30 min chart and time of almost 10 days.
Before moving to next level, at least price or time correction is required.
Price Correction:- Might be till 19,000 to 19,350 levels along with time correction of 1/3 of 10 days, i.e. 3 days.
For next 3 days, we need a consolidation for next major upmove.
If the next levels of breakout happens above 20,223 levels, the target are as big as 23,139.
Setup fails below, 18,900 closing.
Some people were talking about RSI divergence, this might give a dip for entry point.
#banknifty #niftybank #trading
17105 to 20122 recovery took 63 bars on 30 min chart and time of almost 10 days.
Before moving to next level, at least price or time correction is required.
Price Correction:- Might be till 19,000 to 19,350 levels along with time correction of 1/3 of 10 days, i.e. 3 days.
For next 3 days, we need a consolidation for next major upmove.
If the next levels of breakout happens above 20,223 levels, the target are as big as 23,139.
Setup fails below, 18,900 closing.
Some people were talking about RSI divergence, this might give a dip for entry point.
#banknifty #niftybank #trading
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