Banknifty back at channel wall. Will the history repeat or this time it is different.
https://in.tradingview.com/i/SML7in2W/
https://in.tradingview.com/chart/BANKNIFTY/SML7in2W-Pretty-close-to-major-support-level/
As on 18/09/18, Bank Nifty is in downtrend as per candlestick pattern and also moving averages. Crucial Resistance level is 26644.36 and crucial support is 26363.54. If it breaks 26390 then sell bank nifty for target 26302/26131/26041 with stoploss 26500. Also, Bank Nifty is forming bearish engulfing in monthly time frame.
Few of my friends here have started to think that I have forgotten Newbie's corner. I write, when I get some valid query. So here come a new question. Query : I have been trading for 4 yrs, I have learnt all technicals but still I am losing money. I dont know why.
Answer : There are two possibilities. One is not knowing/learning technicals properly. People learn ...
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed ...
Bank Nifty Outlook for 10-Sep-2017(Monday)---Strong Buy
We feel Bank Nifty has bottomed out near 27200 levels for short term at lest.
Last 3 days of candles similar to Hammer formations confirms that there is strong support for the stock in these levels, shorter tried hard to push index down but failed to do so, which lead to short covering.
Now Shorter will be ...
