Nifty changed -0.75 point during the week and made third consecutive Doji, this completes a Tri Star Doji Pattern.
Tri Star is a rare (more so on weekly charts) and significant pattern, indicates extreme indecisiveness. The pattern is generally followed by a trend reversal and sometimes strong trend continuation.
Nifty has actually moved some 14 points since...
As discussed last time, BNF is showing strong intent, although today was rather dull but expect it to ride this series off with some gains. We are still intending to short on next series but there not yet signals for that, so we are riding off the rally.
We had losses on our intra day shorts but as soon as range was broken on upside we were able to long both index, there is still more up move we are expecting so we are planning to continue looking for bullish moves to capitalize till we get back into dried out volatility situation.
Like discussed there was some stimulating news from government for banks "Govt...
Like discussed in last post, we are getting signals of weakness in both index, it is better to short intraday or shorter time frame till we get positional signal but at the moment both index are not showing sign of much movement. This reduced volatility is not good, unless there is some +Ve news markets will have hard time moving up, usually this is the time...
Its been while, but BNF is looking at a little bit of crossroads, I would wait for right opportunity to short as we are nearing holiday month for FII. On intraday bases one can take little risk and short below last 30 min candle and positional short below 30500 level aprox, above that market might stay in range as above levels are not held and would end up just...
ghstocktrading.webnode.comBANK NIFTY: WEEK-TECH-SHEET->11th November 2019 to 15th November2019
Bank nifty moves around +866.85 pips from 11th November 2019 to 15th November2019, in which bank nifty break last week 04th November 2019 to 08th November2019 top 31108.40.
As mentioned in last publication, I had suggested that close below 30400 would suggest weakness in trend, which has happened. Now Price is taking support in cloud and has closed within it. I would wait for tomorrow open and either going above 30400 or sliding down the cloud, today it was good for intraday plays as suggested, until this happens it will be same...
Nifty has break all its major resistance levels and trying to test its major high levels.
With Technical levels it looks like it is trying to make a Cup with Handle Pattern. So Be cautious with your trades.
This Diwali we might see the new levels of Nifty. But still who know the bad news.
So have a strict SL of 11470-11490 Range.
Or buy if it gives opportunity at...
Bank Nifty appears to have completed its consolidation below the 200DMA and closed above the resistance with a bullish breakout above the triangle.
RSI(14) indicates a build-up in strength.