BankNifty Trading Strategy for 27th July'2020
#BankNifty Trading Strategy for 27th July'2020
Cup and Handle formation on #banknifty, once the resistance zone is broken the upside target is 23,400/23,620/23703
SL is 22,411 for intraday long.
Positional long SL is 22,000.
Medium Term View:-
52W H :- 32,613
52W L :- 16,116
38.2 % 22,428
50.0 % 24,365
61.8% 26,311
Wave 2 is 21,967 to 17,195, so 50% of this wave is 24,398 which coincides with 50% of the fall 24,365.
As per wave structure, the next logical is 24,365.
Trade what you see, not what you feel, enjoy trading.
Cup and Handle formation on #banknifty, once the resistance zone is broken the upside target is 23,400/23,620/23703
SL is 22,411 for intraday long.
Positional long SL is 22,000.
Medium Term View:-
52W H :- 32,613
52W L :- 16,116
38.2 % 22,428
50.0 % 24,365
61.8% 26,311
Wave 2 is 21,967 to 17,195, so 50% of this wave is 24,398 which coincides with 50% of the fall 24,365.
As per wave structure, the next logical is 24,365.
Trade what you see, not what you feel, enjoy trading.
Trade closed: stop reached:
SL triggered 22400, will update in the next 30 min about the new setup.
