AbhishekHSinghCMT

Bank Nifty - "Possible" Head & Shoulder Below 31000 (Sell)

Short
NSE:BANKNIFTY   NIFTY BANK
Last @ 31280 / 14:24 Hrs / 30th Dec2020

Short Term - Bank Nifty can have Head & Shoulder ( H&S ) Pattern close to 31300 levels or 31300-31350 - if price halts or stops then Right Shoulder gets confirmed

Risky Traders
Selling Only Below 31300 levels. Target 1- 31000 Target 2- 30500

Safe Trders
Sell Only Below 31000 ( Strictly Below 31000) As Proposed H & S Pattern gets completed - Target- 30500

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Bank Nifty Last Idea - Using 31000 Level was the strategy to plan our trades as mentioned over the idea
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Comment: 14:52 Hrs / 30th Dec2020

Last Price @ 31315

Strictly -----------------No Selling for Risky Traders as well---------If Bank Nifty not falling below 31300 levels
Trade active: 15:23 Hrs / 30th Dec2020

Last @ 31295

Struggling close to 31300. Avoid Taking Any Positions Home or Create Sell Tomorrow only if Index falls below 31300

Likely Pattern completes & activates below 31000 -which key & critical level as suggested yesterday also
Trade active: 20:15 Hrs / 30th Dec2020

Assuming Positive Scenario (Alternate Case- Bullish Case) Traders can initiate a buy call above 31350 ( zone which was suggested as sell 31300-31350 in current idea)

Crossing above 31350 - key level

Upside Target Expected- 31800

Trade active: 10:01 Hrs / 31st Dec2020

(Last- 31334)

Good Morning All, Bank Nifty had opening fall but did not reach 31000. Day low was 31088 as suggested be careful or you might get shock-as it has to cross 31350 & hold which it is struggling again at top's close to 31350 levels.

Till the time it is not crossing above 31350 & holding convincingly- avoid taking buy or long positions
Trade active: 14:13 Hrs / 31st Dec2020

Last Price - 31355

31350 is the fulcrum / key level to plan your day trades
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

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Comments

just holding at 31350
+3 Reply
Thank you sir.
+1 Reply
thank you
Reply
this is not a trade execution level.
it is must to break neckline
Reply
Thank u so much
Reply
Extraordinary!
Reply
Great so we have both the plans ready. Thanks a lot for the head ups 👍
Reply
God Eyes sir
Reply
AbhishekHSinghCMT RishabhGandhi250218
@RishabhGandhi250218, Never become emotional while trading. Thanks
+2 Reply