We have potential Bearish Gartley pattern in Banknifty.
Create short positions on confirmation of the reversal. Potential reversal area 26850 to 26980.
Stop loss slightly above 27000.
Targets - 26500, 26300 perhaps more than that.
I am posting Germany's DAX index chart for the reference where Bearish Bat pattern is executing perfectly.
What a performance by "Retracement and Reversal"!!! Crystal Clear.
Buy on around 1:15 pm @ 26500 and Zoommmmmm
Here it is how it performed in 3 min Timeframe.
https://in.tradingview.com/chart/BANKNIFTY/sEo3qjiJ-BankNifty-Goes-Zoom/
"Retracement and Reversal" Never Predicts.
Normally we see that after a spike or impulsive move the price gyrates in a trading range. This is the zone where most of traders lose money coz there is no clear direction to play. We can observe this situation in all time frames.
In order to play ranges we have to be patient and wait for price to break down the range. See 'A' in the left figure, this is the ...
There are no upcoming events this week apart from we have a bearish outlook because Trump is about to pass the duty stuff.
Sell 26100 PE at 50
Sell 26900 CE at 50
It will give initial credit of 100 points with a breakeven of 26000-27000.
PLAN: If BN breaks 265000 decisively then we will move 26900 CE to 26600 CE, or move 26100 PE to 26400 ...
Last Price@26400 - 20th June 2018
(Note - It is just a coincidence & piece of analysis)
As suggested in the post of Tata Motors - Importance of Reverse Gear at 14:30 Hrs -19th June 2018 - BJP leaves PDP - What a timing to get Gartley alliance.
Bank Nifty at 26225 -19th June 2018
https://www.tradingview.com/x/2iCa6bHp/
Tata Motors Last ...
Dear all, Bank Nifty is a highly manipulated Indices . Very hard to predict where it can go. Anyways my analysis is for a month and not for Weekly Expiry. You see the Yellow line , it will not cross it. So any Upside around 27000 is a very very very good oppurtunity to short. 26447 has little support . If it close below 26447 then downward move can be seen ...
In 4 Hour CandleStick Chart , banknifty tested resistance of 26700 and pulled back.
In 1 Day CandleStick Chart , Banknifty formed Shooting star + Doji Pattern.
This can lead to mild Consolidation for some session.
On Monday(11-06-2018) if Banknifty trades negative for 1-2 hours , then Short with target placed around near term support 26075.
If Trades Positive ...
It is extremely risky with our awesomely rigged market.
Sell 26400 PE at 7.75
Sell 26800 CE at 8.00
Free pizza of dominos.
Its about to trigger ORB though. You can skip the call options and take the call options after 30 mins from now.
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...
