Bank Nifty Trading Strategy for 29th July'2020 Long

Nifty Bank IndexNSE

Description

⋅ Jul 28, 2020 8:34 PM

#BankNifty as discussed yesterday was weak and took support from trendline around 21,600.

One cycle was complete of elliot wave ( 21,027 to 32,112 - 5 wave & 32,112 to 21,615- 3 wave).

Use buy in dip stargetgy for a target of 22,363 / 22,540 / 22,791 SL 21,615.

Trade what you see not what you feel, enjoy trading.

Trade active

⋅ Jul 29, 2020 7:10 AM

tradingview.com/chart/xTsTNPtT/

#banknifty is moving as expected.

Comments

crpatel08

⋅ Jul 29, 2020 3:12 PM

bought 22200 ce - 9 lots ,can't squared off .... can I get profit tomorrow.......
as per your chart the bank nifty will be in upward....
can I get profit??? plz suggest

omkarpadhy

⋅ Jul 29, 2020 10:31 AM

Bought 22200 pe today...... Don't know what to do tomorrow..... Exit... Or remain....

subhagghosh

⋅ Jul 29, 2020 10:38 AM

@omkarpadhy, Sir....you broke the basic rule, never to carry weekly option overnight on Wednesday. Due to theta decay, even if the direction is in your favor, you end up losing.

omkarpadhy

⋅ Jul 29, 2020 10:43 AM

@subhagghosh, OK sir..... Ty

omkarpadhy

⋅ Jul 29, 2020 10:30 AM

Hi sir