50 DMA crosses over 200 DMA which may signal a near term top and possible correction ahead.
possible correction ahead
i actually missed it n now just realised at 2 am that such a formation taken place in nifty
Banknifty just give a bounce from a long sell off, its still in a bigger range of 24500 to 25500. on execution of trade book partial profit in 25450-25500 range . happy trading.
I have been getting messages from fellow traders and seeing a lot of analyses on BankNifty claiming this to be a head and shoulders on TradingView and Twitter. Coming to the point. 1) Is this a head and shoulders??? - Yes 2) Is this a good head and shoulders??? - No Going by the classic charting rules a good head and shoulders follows symmetry on price and...
Bank Nifty -High risk -buy abv 24851 for 25080 SL-24640 and 24500 SL is 200 points, so buy if it comes down to 24640 range. -Low risk buy abv 25080 trendline BO for 25428. SL -25025
i will look for long side and will definitely try to go long and instead of shorts ,for this month ....
#BANKNIFTY for me risk reward i see good on long side , thus its better for me to go long with stop below 24800.