Banknifty Sell Near 30700-30750
Stoploss 31000 Target 30000-29800
Reasons For Trade- 1. Daily Trend Is down
2.Price moving in 15 minute channel
3.Bearish candlstick pattern formed near important support
4. Price has taken strong resistance of 200+50 days EMA on Hourly Chart
5. Risk Reward ratio is 1:2
Initial visual inspection shows the index is recently trading sideways between 30230 and 31715. Point to notice here is that we could observe a negative divergence through oscillators i.e. RSI and MACD. That clearly indicates a negative bias. So by considering these factors, index falling to 30230 (further 400 pts away from current level) now almost looks...
Banknifty Buy Near 31220-31200 Stoploss 31000 Target- 31500-31800
Reasons for Trade-1. Today is Budget day haigh volatility is expected 2. Daily Trend is Up 3.Price can take support from channel. 4.on 2Hr Chart 50 EMA support is available at 31125. 5.31070 important Horizontal Support. 6. Risk Reward Ration is more than 1:1.5
Rounding Top pattern observed in Nifty Bank. Neck level is at 30200, which if the index breaks decisively, can be considered for Short selling. Target of the pattern comes at 28620.
We could also find that 61.8% Fibonacci retracement level of the previous swing falls at around 28600 coinciding with the pattern target. Hence if the index falls, 28600 region would...
Sell banknifty future below 26210 or buy 26100 put at that level ( this week or next depend on ur risk appetite) sl abv 26410 tgt 25910-25610. cmp 26270, NSE:BANKNIFTY
Buy Banknifty future above 26105 or 26200 or 26300 ce according to investment or risk appetite next expiry. cmp 26055. sl below 25800 tgt 26385-26660 NSE:BANKNIFTY
First I had mentioned Gap Up n Down scenario's in Banknifty but as market opened I have changed it to one-sided scene.
(i) If trendline violated to upside wont sustain for longtime max 21650's only, then reverse to down
(ii) Touch n Play with trendline from Downside & Straight move to down
Today weekly expiry right ? Extreme guess work, BankNifty may reserve...
BankNifty analysis is going to be real simple one. Bearish Flag formation, so what an ideal bearish flag will do ?! Breakout to downside. There are few things we need to take note here. The first one being the Bearish flag ( which I didn't enter yesterday) so if the shark is working then it will move up a little bit and today being expiry day, if a double side...
