Bank Nifty Trading Strategy for 19th Aug'2020
Updated
#banknifty OI down by -1.05 % and price up by 2.16% % shows short-covering, bears are not able to push it hard and bulls are resting.
1:45 PM to 2:30 PM (21,900 -22,150) Long build was created and 2:30 PM to 3:30 PM (21,100 - 21,227) was short covering.
The trend is positive, trend changes below 21,909.
Tough Resistance 22,186 - 22,245.
Fresh long only above 22,335 Target 22,440 / 22,600 / 22,745 SL 21,900.
Shorting can be done below decision zone, with SL of 22,280.
We need volume to support to breakout.
Decision Zone [ 22,186- 22,245] is marked in yellow, below negative & above positive.
Trade what you see not what you feel, follow it and you will feel the x-factor.
1:45 PM to 2:30 PM (21,900 -22,150) Long build was created and 2:30 PM to 3:30 PM (21,100 - 21,227) was short covering.
The trend is positive, trend changes below 21,909.
Tough Resistance 22,186 - 22,245.
Fresh long only above 22,335 Target 22,440 / 22,600 / 22,745 SL 21,900.
Shorting can be done below decision zone, with SL of 22,280.
We need volume to support to breakout.
Decision Zone [ 22,186- 22,245] is marked in yellow, below negative & above positive.
Trade what you see not what you feel, follow it and you will feel the x-factor.
Trade closed: target reached
21,905 target is done.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.