Nifty Bank IndexShort
Bang On Levels of Bank Nifty:- 11th Feb'2020
Bank Nifty Trading Strategy for 11th Feb'2020:- From telegram's BNTrading.
Today was a consolidation day with a negative bias. The BN opened (31248) in our pivot level (31160-31260) and was never able to enter the pivot zone. Our 1st click trade was short BN for 100-200 points, which we achieved. The whole day we traded in ITM PEs, bought PE at higher levels and closed it in lower levels ( 100 points movements). There was big no to buy any calls during the day, we made a good profit.
I am bearish on BN until we close above 31,260, technically the trend has changed below 31113. It opens the downsize target of 30761 or below.
## Daily/Weekly/Monthly Resistance:- 31380-31480 / 31650-31750
## Tomorrow Supply / Resistance:- 31183-31260
## PIVOT:- 30972-31107
## Tomorrow Demand / Support :- 30654-30705
## Weekly Support:- 30654-30705
NOTE:- We are bearish below 31113 and super bearish below 30926.
There are two types of trades:- Range Trading and Breakout Trade.
1. Range Trade:- Buy/SELL in above or below Pivot Zone & GREEN Zones, SL is zone lower point, T 100 to 300 points/resistance zone.
2. Breakout Trade:- Once a pivot/zone is broken, keep SL as lower / upper end of the zone for next zone as the target or target 100 -300 points.
Today was a consolidation day with a negative bias. The BN opened (31248) in our pivot level (31160-31260) and was never able to enter the pivot zone. Our 1st click trade was short BN for 100-200 points, which we achieved. The whole day we traded in ITM PEs, bought PE at higher levels and closed it in lower levels ( 100 points movements). There was big no to buy any calls during the day, we made a good profit.
I am bearish on BN until we close above 31,260, technically the trend has changed below 31113. It opens the downsize target of 30761 or below.
## Daily/Weekly/Monthly Resistance:- 31380-31480 / 31650-31750
## Tomorrow Supply / Resistance:- 31183-31260
## PIVOT:- 30972-31107
## Tomorrow Demand / Support :- 30654-30705
## Weekly Support:- 30654-30705
NOTE:- We are bearish below 31113 and super bearish below 30926.
There are two types of trades:- Range Trading and Breakout Trade.
1. Range Trade:- Buy/SELL in above or below Pivot Zone & GREEN Zones, SL is zone lower point, T 100 to 300 points/resistance zone.
2. Breakout Trade:- Once a pivot/zone is broken, keep SL as lower / upper end of the zone for next zone as the target or target 100 -300 points.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.