Bank nifty consolidation with positive bias.
Three days of consolidations
and forming 3 inside bars of mother candle.
It may break out to the upside once uml shown in the chart is taken out in closing basis.
Same set up as it had formed inside bar few days ago .Today's low though lower than lows of previous two
days, its high is higher than the high of previous two days.
One can go long if uml is taken out on closing basis and hold position.
Today's low is crucial if it breaks it may fall to median line.
Hence any long position today's low should be strict stop loss.
For last four trading sessions channel line is acting as stiff resistance.
Let us see before Thursday bank nifty can break out or not.
Please go through the attached charts.
don't forget to like my post
follow me to get updates.
and forming 3 inside bars of mother candle.
It may break out to the upside once uml shown in the chart is taken out in closing basis.
Same set up as it had formed inside bar few days ago .Today's low though lower than lows of previous two
days, its high is higher than the high of previous two days.
One can go long if uml is taken out on closing basis and hold position.
Today's low is crucial if it breaks it may fall to median line.
Hence any long position today's low should be strict stop loss.
For last four trading sessions channel line is acting as stiff resistance.
Let us see before Thursday bank nifty can break out or not.
Please go through the attached charts.
don't forget to like my post
follow me to get updates.
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.