Bank Nifty chart also seems like Nifty chart. So, expecting the movement will be on same direction. Don't enter into trade without having any breakout because the trend is neutral.
Note:
Trend - Neutral
Long - above 24400
Short - below 24050
Banknifty is in a crucial territory between a trend line and a channel bottom.
We will go for buying above 24500 or short below 24150. Until our trade is triggered we will wait and watch
Targets and SL will be updated once trade is triggered. Keep watching this space for more info.
A trading strategy based on multiple moving avergaes.
Shows great results on backtesting.
Parameters:
Initial Capital : 250,000
Contracts : 40 (Fixed, Equal to Lotsize of NSE BANKNIFTY)
Pyramiding : 3
Slippage : 20 ticks (1 Rupee)
Commission : 0.015%
64% Trades are profitable...
BankNifty is moving in the down sloping channel. RSI is coming out of Oversold area so it may try to touch the other side of it or at least the touch on trend line is possible. One can enter long at this level.
bank nifty may be formed reversal pattern on quarterly char if it give close below 18000 on 31 December.
then who will save this bank nifty
enjoy this trade
Descending triangle in Bank Nifty with price range of 1150 points in 22 session, once breaks above resistance line @ 18550 and sustains then may see 1100-1200 point move in 25-30 session.
This is delayed post, went to place few orders, Sorry Guys ! Could have abandoned this post but as it got insync with My prev.post of BankNifty, I wanted to share that all methods work well in markets if used properly.
In last BankNifty post 10days before we have seen elliott waves and wave 5 pointing upwards. I initiated long from that time with stops below...
BankNifty... After some 10 days we are back to Nifty's favorite brother BankNifty. Many of you might remember how we rode Nifty with Waves, Now same for BankNifty ? Let's see... We already caught the Wave-3 and made money{check prev.post if you have missed that post}, Now lets concentrate on Wave-4. BankNifty getting caught within 100 points range is rare...
