TradingView
AkmeAnalytics
Aug 30, 2020 2:27 PM

BankNifty Trade Setup [31 Aug 2020] Long

Nifty Bank IndexNSE

Description

BankNifty Index view on 31st Aug 2020

Bullish view: If price stays above the brown trendline, then look for buying opporunity only. Enter only if it comes near the trendline and support level (Blue Horizontal Line). Look for price rejection near the key support zone.
Support Zone: 24390-24420

Bearish view: If price breaks the brown trendline alongwith blue support line and retest the trendline again, then look for shorting opportunity. Look for price rejection near the key resistance levels

Resistance Zone: 24390-24420

My Personal View: BankNifty likely to retest the trendline and may respect it. So, my view is bullish and I will wait for the retracement to enter.

Trade closed: target reached

Comments
iasrajendra
THANK YOU
AkmeAnalytics
@rajendrakhipar, welcome
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