Short - Long Term Trendline Break & Didn't Cross Resistance
Five reasons, why you should short BankNifty ?
1. Break of long term trend line (Black color) on 10th Jan
2. It failed to show any strength today and didn't cross the short term trend line acting as resistance (purple), forget about the maroon line resistance
3. Last three candles have lower lows and lower high formation
4. It failed to cross 50 days EMA and now that is acting as resistance
5. In early hours, it also break the support of 41800
Disclaimer
I am not SEBI registered investment advisor, please trade at your own risk.
1. Break of long term trend line (Black color) on 10th Jan
2. It failed to show any strength today and didn't cross the short term trend line acting as resistance (purple), forget about the maroon line resistance
3. Last three candles have lower lows and lower high formation
4. It failed to cross 50 days EMA and now that is acting as resistance
5. In early hours, it also break the support of 41800
Disclaimer
I am not SEBI registered investment advisor, please trade at your own risk.