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

Dec 30, 2020

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

-----------------------------------------------------------------------------------------------------------------------------
Bank Nifty Last Idea - Using 31000 Level was the strategy to plan our trades as mentioned over the idea
-----------------------------------------------------------------------------------------------------------------------------

Dec 30, 2020

Note

14:52 Hrs / 30th Dec2020

Last Price @ 31315

Strictly -----------------No Selling for Risky Traders as well---------If Bank Nifty not falling below 31300 levels

Dec 30, 2020

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

Dec 30, 2020

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

Dec 31, 2020

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

Dec 31, 2020

Trade active

14:13 Hrs / 31st Dec2020

Last Price - 31355

31350 is the fulcrum / key level to plan your day trades