yvatsji

INITIAL LONG TREND STARTED IN BNF WILL IT BE MOVE FURTHER SEE !!

NSE:BANKNIFTY   Nifty Bank Index
COMPARING MY LAST WEEK STATEMENT WITH THIS WEEK MOVE.
1. In previous post point no.2(trade plan) I mentioned clearly is quoting for your consideration " if price break green dotted line and fulfill the taken out condition for this trendline with pink dotted line then i will be bullish. " .You can see in today trading price breached this trendline circled in white but could not satisfy taken out condition and price moved down. This move and many more moves manifested last week all went exactly same . The pink color dotted line was little up which I shifted for tomorrow trading conditions. If you see previous post I put small red arrow under red blue line in down side. You can see yesterday news of India & china came in afternoon and price after strong selling took support from same zone. By making big hammer candle. This is the power of depth in technical analysis where one can manifest such events in charts.
2. Due to some problem in updation of bnf and nifty charts , I could not post in last couple of days. I wrote this reason in many posts. Some of the followers raised this issue with trading view. Therefore resolved today in morning. Thanks to all who raised this concern.
Trade plan for next day.
1. If price breach the lower solid pink line and do not come back in next 30 mins then one should cover any c/f long .Price in between pink solid line and green line is no trading zone which do not confirm direction of trend.
2. So any position in either sides can only be taken when price takes out either sides arrow support or resistance in pink dotted and pink solid line. Rest market will decide.
YOGESH VATS

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