Banknifty Intraday Made M Pattern Before Market Close. Market is giving sign for a sell, also it;s too far from hourly trendline, so price will go and get balanced by touching it in near future.
NSE:BANKNIFTY
Trading in ascending channel pattern, rejected thrice. Expecting potential breakout towards downside
Sell with sl - 39500
Target - 39250, 39090, 38910
DISCLAIMER :
This idea is for educational purpose, buy/sell as per your risk management.
I always recommend to book 50% of the quantity at target 1 and keep trailing stoploss for...
Shorting strikes purely based on india vix volatility index
- we can short one side either CALL or PUT side / if we do both then we can conclude that it is short strangle
- Short 39000 CE and Short 38300 PE
🛑 we can observe that market may be stays in between within the above range
- if short both side / if we did short strangle
if breakout at 38850 happens...
Today BankNifty opened with a Gap up and we immediately saw the sell-off. BankNifty is again near the lower range which is 34500-34400 levels. Let's see tomorrow if we see the breakdown or BankNifty again take support from these levels.
Expectations for Tomorrow: Flat opening and range-bound market.
Resistance: 35220
Support: 34450
Intraday Levels:
Buy Above...
Sell below orange color line
Sell triggered after 10:00 am candle give 350 plus points of profit and again at 14:15.
Almost 700 points of profit given by this setup.
On 1st setup SL is Blue line and on 2nd setup SL was orange line
Reasons :-
1. Daily time frame shows back to back green candle (retracement needed)
2.1 min time frame rising pattern breakdown.
3.Facing resistance
4.Rising wedge pattern (High probability of giving a break-down)
Caution :-!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
1. Victory of Biden can have a bullish impact on the markets.
This is my view and, lets hope for the best.
At 20800 ,No Buyers Left, Sellers still under control, for intraday sell on lower highs(50-78% retracement), for next few trading sessions to next demand zone.bank
We have a complete analysis in our previous Post, I was waiting for Wave 1 to complete; Its verified Wave By Wave and Now Wave 2 is forming which is a Flat structure; Wave A and B are almost complete; Wave is the the last Impulse and then we get the MOST AWAITED WAVE 3in downward.
