Indusind formed triangle downwards, RSI pointing down from 60, MACD bearish, There would be good movement downwards up to 570, but we can wait for open=today's low/crossing today's low for entry.
Banknifty is likely to remain calm today. However, the break of yesterday's high and low may change the trend.
So, better watch those key levels and trade accordingly.
There is lot of twists herein:
By the looking left to right , while breaking out the price Congestion we have seen Invalid breakout in price. That why price suddenly fall.
Bullish forget of 3 candles was completely perfec t but, again we have seen valid heavy volume candle ...! Something is cooking in this stock.
Let look more closer to the 4hrs...
As per the analysis, market in a neutral zone TOWARDS BEARISH SENTIMENT .
This SUPPORT & RESISTANCE works live and expect a reverse from RESISTANCE ZONE .
Probability :-1
For 13th Friday , there will be a Shorting Opportunity from the Resistance.
SELL AT HIGH , BUY AT DIPS.
As per the analysis, market in a neutral zone, heading towards bearish sentiment
This SUPPORT & RESISTANCE works live and expect a bounce back to that levels.
PROBABILITY :-1
For 10th Tuesday, there will be a Shorting Opportunity if market open and close BELOW 9th Monday Close.
Take ABOVE LEVELS AS RESISTANCE.
PROBABILITY :-2
For 10th Tuesday , there will...
![BANKNIFTY: Banknifty Trade Setup [20 Aug 2020]](https://s3.tradingview.com/h/hKuWpvuE_mid.png "Banknifty Trade Setup [20 Aug 2020]")
