subhagghosh

Bank Nifty Trading Strategy for 27th Jan'2020.

NSE:BANKNIFTY   NIFTY BANK
Bank Nifty Trading Strategy for 27th Jan'2020.

The sentiment is Bearish:- Trend will change to positive if we start trading above 31,480.

Recent High (10th Jan) :- 32,347 & Recent Low (22rd Jan):- 30,614

23.6% 31,938.012 Pending
38.2% 31,684.994 Pending
50% 31,480.5 Pending
61.8% 31,276.006 Crossed
76.4% 31,022.988 Crossed

## ZONE 1:- Weekly Supply / Resistance Zone:- 31,650-31,750.
## ZONE 2:- Weekly Supply / Resistance Zone:- 31,900-32,000.

## ZONE 1:- Weekly Demand / Support Zone:- 30,600-30,750.
## ZONE 2:- Weekly Demand / Support Zone:- 30,050-30,250


** Tomorrow Supply / Resistance Zone:- 31,380-31,480.
** Tomorrow Demand / Support Zone:- 30,900-31,050.

30,900-31,700:- 800 point range.

There are two types of trades:- Range Trading and Breakout Trade.

1. Bullish Range Trade:- Buy in support zone (30,900-31,050) SL 30,810 Target is supply zone (31,380-31,480) else you can book 200 to 300 points and close your position.

2. Bearish Range Trade:- Sell in resistance zone (31,380-31,480) SL 31,550 Target is supply zone (30,900-31,050) else you can book 200 to 300 points and close your position.

3. Breakout Long Trade:- I don't prefer to be long until 31,480 is taken away conclusively. I will be long above 31,480, SL 31,240 T 31,600/650/700/750.

4. Breakout Short Trade:- Short below 30,900, SL 31,050 Target 31,750/650/550.

I have a traders community on telegram BNTrading ( it's a community to share ideas, no charges), you can follow real-time market analysis and post your's view as well.

Comment: What we traded on telegram today:- BNTrading

1. Shorted BN on first clicked, covered the short around 30950.
2. Longed BN near 31050, closed 50% at 31180, 20% at 31220, rest 30% at 31100.
3. Shorted BN at 31050, booked profit at 31000/30950/30900.

Comments

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