subhagghosh

Bang On Levels of Bank Nifty:- 11th Feb'2020

Short
NSE:BANKNIFTY   NIFTY BANK
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.

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