BANK NIFTY TRADE SETUP
Updated
Bank Nifty took support from an important trendline. Here you can see two patterns, one is XABCD bearish butterfly pattern and the other one is the ACBD pattern.
The butterfly pattern gives us a target level at 37131, a level from which bears gained power. Above this level, we can expect a huge short covering.
If the index breaks the trendline, then short if the price breaks below 36519.
The target levels are mentioned on the chart. Put stop loss as per your risk appetite.
Happy trading :)
This is just for educational purposes.
The butterfly pattern gives us a target level at 37131, a level from which bears gained power. Above this level, we can expect a huge short covering.
If the index breaks the trendline, then short if the price breaks below 36519.
The target levels are mentioned on the chart. Put stop loss as per your risk appetite.
Happy trading :)
This is just for educational purposes.
Trade active
Took a rejection from the supply zoneTrade closed manually
The index was trading in a narrow range. Trade could have been only possible with the options data.Note
Published this idea last week but today it is tested and Woah! more than 550 points from the long level.
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