Hope all is well.
I have earned a good profit for my clients in the week with the help of a power of indicators and some other strategy.
This is the 28th May 2020 Banknifty performance. Make sure this is understandable for all.
Today Banknifty performance details:
19800 PE at 440 TGT 740 SL 300 qty - 1000 (Profit: Rs . 1,60,000/-) book at...
Trend continued to be in bearish territory on back of EMA (20 EMA below 50 EMA). Recent correction from the resistance of 140 level where roof of the downward trend line hovers.
On contrary, as MACD above zero expect the price to find support around 120 levels. In the recent past, the price comfortably found support around the same level twice.
Expect a bounce...
EMA 50-day and 200-Day signals the bearish trend. Recent reversal from 50-day EMA and MACD confirms the downward trend. In the coming days, the stock would retest the downside level of 200. Expect it to expire below 200-EMA which hovers around 240 level.
Moving average cross over confirms the continuity of bearish trend. As well, MACD signals that bulls would find very challenging to hold the high in near term. Expect it would stay below 90 level for Dec series. By considering the lesser liquidity, suggesting option investors to execute the order above 0.5