BankNifty Analysis - Stance Neutral ➡️
BankNifty also gets a stance change today i.e. from bearish to neutral. All that is pending is to take out the 47465 resistance to go bullish. Most likely that should happen tomorrow and we are eagerly waiting to trade on another Saturday. BN closed the day with a gain of 1166 points ~ 2.53%. But unlike Nifty, BN is not near...
Good Morning Traders,
Yeah Market is looking oversold, A bounce is possible in indian market, i mean a rally of 120-180 points is possible in Nifty. Nifty have formed a small candle on the daily timeframe with almost identical open and close and with long lower shadow. Technically this pattern indicates the formation of a Dogi or Hammer type candle pattern....
Select strike price near ATM which is double from todays lowest (i.e 40 to 80 )
(ATM +- 100 CE/PE to make ITM )
Buy - 40000 PE
Time - 1.45 pm to 2.30 pm
At Price - 80
SL - 25%
Sell Price T1 - 160 50% quantity
Sell All T2 - 200
Note : This is for study purpose only not for trade. Please understand the Strategy for HERO to ZERO
Finnifty is trading below budget day low and is going to face resistance around it, however on 45 min tf the structure which is currently developing is suggesting that it may be forming a reversal pattern and anticipation is that inverted H&S pattern is under development. As long as recent swing low is protected it can take support at the trendline which is coming...
