Looks Bearish. But short or long cannot be initiated at current levels. Levels are given as below to keep an eye on.
Comment:
current level 191019 : 29120
Strategy for intraday trading
Strategy for intraday trading
Comment:
221019: 29411
Strategy for tomorrow: Short below 29364 with SL 29456 for tgt 29060;28810;28560
Already long should have exited the positions by today's trading, as almost all the targets are met with high being 29690. Also today's trading is a reversal day, which means I'll be hesitant to take long position. However, Long position can be initiated if the index can sustain level above 29760 for TGts of 30110;30230;
Strategy for tomorrow: Short below 29364 with SL 29456 for tgt 29060;28810;28560
Already long should have exited the positions by today's trading, as almost all the targets are met with high being 29690. Also today's trading is a reversal day, which means I'll be hesitant to take long position. However, Long position can be initiated if the index can sustain level above 29760 for TGts of 30110;30230;
Comment:
231019: 29459
Strategy for tomorrow: Bank Nifty is in a tricky situation. At present price there is not much of a risk-reward ratio. So better wait it out for a particular trade option.
However the situation that could unfold may be:
Can short @ cmp 29459 with SL @ 29520 for a target of 29380.
For long SL could be placed at 29420 for a target of 29600.
The real trade will be decided upon what happens next.
If Banknifty breaks 29420, then it will see 29360;29200;29060 levels;
If Banknifty breaks 29600, then it will offer a target of 29700-720 level, which will act as crucial resistance.
Strategy for tomorrow: Bank Nifty is in a tricky situation. At present price there is not much of a risk-reward ratio. So better wait it out for a particular trade option.
However the situation that could unfold may be:
Can short @ cmp 29459 with SL @ 29520 for a target of 29380.
For long SL could be placed at 29420 for a target of 29600.
The real trade will be decided upon what happens next.
If Banknifty breaks 29420, then it will see 29360;29200;29060 levels;
If Banknifty breaks 29600, then it will offer a target of 29700-720 level, which will act as crucial resistance.
Comment:
271019:29396
R1: 29700;R2 : 30084
S1: 29060 S2:28800
R1: 29700;R2 : 30084
S1: 29060 S2:28800
Already long means can keep the SL at 29060, for targets 29340, 29472,29761.