Bank nifty has broken the dow theory concept of Higher low and Higher high in weekly charts. As per dow theory trend changes when the last higher low is broken, so we can clearly see a trend reversal in Bank nifty. The last Higher low was - 26560, so if the BnF close below this by end of this week. Then we can expect trend changing. Also two key Moving averages...
Hello, Tomorrow I am expecting a sideways range (30450-31000) in Bank Nifty. Also Bank Nifty is stronger than Nifty. Bank Nifty closed very near to its demand zone @ 30450-30500. Tomorrow if Bank Nifty will sustain below this demand zone then I will go short and If it will sustain above this zone then I may short OTM call and Put Options.
Hello, Demand Zones:- 30850-31120 31400-31500 Supply Zone:- 30450-30500 30850-31120 is a no-trade zone for me. Once Bank Nifty will sustain below 31850 then I may go short for the target of the next demand zone. Once Bank Nifty will sustain above 31150 then I am short OTM put option.
Same view as Nifty - 31k is a psychological barrier - So sell on Rise mode until CZ is broken (Trade as per the setup taught in sessions)
banknifty RSI negative divergence below 32080 weekness possible
if banknifty consolidates bellow 32000 sell with tgt of 31850
Bank Nifty showing bearing divergence in the hourly chart.
Strong resistance seen around R1 31002-31069 & R2 31635-31749. BN @31115 which is R1 zone ...breaking the levels can move towards R2 use the levels to short with strict stops Respect risk....Happy Trading
Trade plan for 08 Nov 19...watch out for the levels mentioned Happy Trading....Respect Risk
Strong Resistance seen @ 30707 levels Cautious stance on higher side will be a good idea Possibly we may see 29917 levels in coming sessions..
BANKNIFTY: buy above sell below levels(NOV 1st week) Note: SellBelow already triggered, sell at retracement @30063 BuyAbove: 30418 Target1: 30597 Target2: 30676 SellBelow: 30063 Target1: 29960 Target2: 29674
Cautious stance is the best way to trade BNF now....any rally can be used to short BNF....respect risk
NSE:BANKNIFTY Banknifty near resistance zone wait for breakout or risky trader can short
Bank nifty Intraday analysis #BANKNIFTY
Bank nifty intraday analysis || Sell #BankNIfty
AXIS BANK on 13 Sep to push higher in early trade rising to 672 .....breaking below 660.55 may take Axis bank towards 646-610.80....Rispect Risk....