bijoy2526

BANK NIFTY takes support on the support 1

NSE:BANKNIFTY   NIFTY BANK
happens to be on the median line .
.Huge red candle suggests further break down but observing closely it rests on the median line and on the support 1
only breaking below the low of today may take it to support 2.
it has retraced just 50 percent of the last move from 03/07/2020 to 08/07/2020.
This uptrend still in tact.
will update soon



Comment: only movement on Monday may decide its trend.
if it crosses and close below the median line more down side will be there.

Comments

I dont think its a crash, 500 points on bank nifty is dip/healthy correction. 22325/425 was good support zone and it has taken support... full pack of bank nifty stocks were 2% down so its a healthy view, if majority of them were 5-10% down and some stronger ones 2-3% up would mean its crashing.. this is a correction and dips are getting bought into very nicely.. keep bias on uptrend i suggest
Reply
bijoy2526 GautamH
@GautamH, not a crash it is on the support.
Reply
Nice one sir, looks like Crash in on its way...
Reply
bijoy2526 Vaibhav_date_offical
@Vaibhav_date_offical, we can obviously find out on Monday observing price action.
Reply
rameshmyds bijoy2526
@bijoy2526, hi sir, Monday what is the stoploss for bn shorts
Reply
@rameshmyds, have a look at the chart . Closed just above support 1. If it goes below 22373, it may head to support 2 ie 21778. . Else it will cruise to 23000 level again . In my view, Stop loss needs to be slightly less than yesterday's low
Reply
Sidharth_Kr_Jain consultanilkumarg
@consultanilkumarg, He is asking for SL for the shorters if break the median line
Reply
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