Bank Nifty Trading Strategy for 19th Aug'2020
#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 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 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.
