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.


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