Bank Nifty: The Confluence Zone

Nifty Bank IndexNSE

Description

⋅ Aug 24, 2017 7:55 AM

Currently in a confluence zone where a downtrend line meets the cypher PRZ. A downward reversal from this point may take BN back towards 23900-24000.

If there is to be a continuation on the upside, I would consider buying on a confirmation above 24400 for the target of 25000.

Trade Safe

Regards
Bravetotrade

Comment

⋅ Aug 24, 2017 8:33 AM

Trend Analysis

Comments

Parasuram

⋅ Aug 24, 2017 10:18 AM

Where would u be shorting if it is on downside...?

Bravetotrade

⋅ Aug 24, 2017 10:32 AM

@Parasuram, If it goes down, I would look for confirmation below 24195. An aggressive trade could be below 24220.