bijoy2526

BANK NIFTY uml restricts it.

Long
NSE:BANKNIFTY   NIFTY BANK
It forms higher high and lower low on daily basis but it was non trending day
Uml of the pitch fork restricts it
I had mentioned if it closes above uml of pitch fork to buy it.
1st hour candle had closed below the uml,
No other hourly candle could cross above the high of 1 st hour.
towards the end hourly candle violated the low of 1 st hour candle
Immediately it pulled back .
It appears today's movement to shake out weak traders.
Bank nifty short position only can be initiated if it breaks three day's low
as shown in the chart for the target of median line .
and for long position again there are two resistances first channel line and uml.
If 1 st hour candle of tomorrow is not too wide then we can get a trend day tomorrow(today's 1 st hour candle was little wide)
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WHAT NOW SIR...SUPER UP/DOWN
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Thanks for this Sir
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bijoy2526 Sylar32
@Sylar32, welcome.
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Perfect analysis always great sir
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bijoy2526 PACTRADER-RAGHU
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