Bank Nifty Trading Strategy for 18th Aug'2020
#banknifty OI down by -0.50 % and price up by -0.10 % shows neutral position, bears are not able to push it hard and bulls are resting.
14th Aug:- 12:15 PM to 2:30 PM huge short's were build up in the system from the levels 22,245 -21,459
The short covering will only happen if 21,853-21,946 levels are crossed and the trend will reverse above 22,080.
No fresh shorting, until we breach 21,370 and will reverse all the long if 20,926 is broken, which will be a medium-term reversal in the market.
Immediate target on upside T1 21,865-21,905 & T2 22,122 - 22,211.
Note: If bears are not able to break 21,400 in the next 2 days, you will have the short-covering fun preferably by wed 2nd half.
Decision Zone is marked in yellow, below negative & above positive.
Trade what you see not what you feel, follow it and you will feel the x-factor.
14th Aug:- 12:15 PM to 2:30 PM huge short's were build up in the system from the levels 22,245 -21,459
The short covering will only happen if 21,853-21,946 levels are crossed and the trend will reverse above 22,080.
No fresh shorting, until we breach 21,370 and will reverse all the long if 20,926 is broken, which will be a medium-term reversal in the market.
Immediate target on upside T1 21,865-21,905 & T2 22,122 - 22,211.
Note: If bears are not able to break 21,400 in the next 2 days, you will have the short-covering fun preferably by wed 2nd half.
Decision Zone is marked in yellow, below negative & above positive.
Trade what you see not what you feel, follow it and you will feel the x-factor.
Trade closed: target reached:
Immediate target on upside T1 21,865-21,905 & T2 22,122 - 22,211 Done
