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 retesting resistance levels which it failed to penetrate earlier. Downlink movement or retracement is possible in near short team since bearish divergence with price and MACD is formed on chart. Rising wedge formation on chart suggests the upward breakout in long term, but needs at least 6 weeks to get clear picture.
Next 2 weeks are important from...
Will Bank Nifty follow the Nifty way to fill the existing GAP ? If yes, then bear will takeover the Bank Nifty also.
Trade:
Short below = 18797
Target 1 = 18709
Target 2 = 18552
Target 3 = 18440
Stop Loss = 19002
Reward Points = 540
Risk Points = 205
Bank Nifty is lagging Nifty in terms of ichimoku structure on daily scale. Here in Bank Nifty we can see that the prices are not within the cloud; making it more room to scale it up with that of Nifty. Once Nifty hits 8400 mark (that is upper boundary of the cloud); we could see correction or sideways action and I feel it is during this phase Bank Nifty will match...
Banknifty as discussed last week here broken the supports and reach in range 18880-18890 doing the target for the week 19125.
Now Banknifty had broken the major support range @18990-19030 , traded and closed below it. So for now it is weak and we can see much lower levels. We can see the the downside below this range till 18650-18680 and below that...
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...
Brother's have similar characteristics, rarely they move in opposite direction depending on personal situations. Yes, Nifty & BankNifty only, as of now by looking at 15 min chart with ABCD completion & channeling, Banknifty is similar to previous post on its big brother Nifty.
Though ABCD pattern completed earlier, Targets are not achieved yet & its ranging...
Banknifty last week hit trailing stops and I exited my positions for breakeven, booked 50% only on 1st Target. So its a ok-ok trade only.No we have potential bat pattern completion & ABCD pattern completion around same zone in BankNifty, so guys when 19250's are reached be vigilant. Another thing Banknifty is not like usual stocks which trades in 100's, we are...
