subhagghosh
Short

Expiry Special Analysis for 13th July'2020.

NSE:BANKNIFTY   NIFTY BANK
Bank Nifty Trading Strategy for 13th July'2020

#banknifty:- BankNifty closing below 22480 (which used to a strong resistance is a sign of bearishness).

SL for all long trades:- 21,350 ( SL triggered for long on an intraday basis but holds on a closing basis)

Decision Zone 22,022 - 22,170

#banknifty if starts trading below 22350 for an hour, then we have the 1st downside target of 21,650 as opened.

Will review the chart once the 21,650 is achieved.

The current up move wave 5 which was projected to be completed at 24,350 seems to be completed at 23,080.

We expect an ABC correction, where 21650 seems to be a logical target.

One separate analysis, I will try to post the short term view on #banknifty.

Comments

Exipry to Expiry we are heading towards its monthly bullish level 23400. Data from previous Exipry shows 22040 to 22300 range. Unless upper range not touched it cant go Q3 stop level arround 20000
Reply
subhagghosh ddsrawna
@ddsrawna, let's play the levels.

Not looking at something big, daily 200 to 300 point capture will suffice.
+1 Reply
ddsrawna subhagghosh
@subhagghosh, Today selloff 21500 calls at 1190 and Enjoyed. although couldnot bought again because because break of 22125 (weekly bullish point). Nifty tested Exipry stop 10860. it will also test Expiry stop 22984.
Reply
ddsrawna subhagghosh
@subhagghosh, I think Tommarow closing must be above 22125.
Reply
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