Bank Nifty Trading Strategy for 5th Aug'2020

OI down by -3.84% and price up by +1.99%, shows short covering.

21,100 to 21,400 is the levels were the majority of long has been created, the pressure will be felt only BN goes below 21,000 levels.

# today is the first day in the last 5 day's we made lower low (21,065) and higher high (21,574)

As long as today's low holds, we will try to go up.

#banknifty is made lower low and lower high constantly from 29th July to 3rd Aug:-

LH: 22,346/22,253/21,807/21,544
LL: 22,906/21,580/21,375/21,031

Decision Zone 21,537- 21,666

Pullback till 21,865 / 22,122/22,380 might be on cards till 20,065 holds.

I won't make positional short, until #banknifty closes below 21k or might be at much higher levels above 22k (where I will post).

Broadly speaking:- 21,000 to 23,000 is the range and below 22,000 we have negative & above positive.


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.