#BankNifty Trading Strategy for 27th July'2020 Cup and Handle formation on #banknifty, once the resistance zone is broken the upside target is 23,400/23,620/23703 SL is 22,411 for intraday long. Positional long SL is 22,000. Medium Term View:- 52W H :- 32,613 52W L :- 16,116 38.2 % 22,428 50.0 % 24,365 61.8% 26,311 Wave 2 is 21,967 to 17,195, so 50% of this...
Inside Bar on the daily chart,22nd July High 23,208 & Low 22,600. Directional move once the levels are broken:- Good entry point is 22,700 - 22,750 levels 22,500 as SL. Target 1 is 23,365 and an extended target of 25K on cards. Flag formation on the daily chart, the probability is to break higher-ups. Don't get the impulse to short is there is a gap...
Warning Retail to stay away from this counter:- You have much better scripts available. This is blown out of proposition, out target is done. The rest is your choice.
#banknifty Are we ready for a morning cup of tea? T 23365 SL 22600, LTP 22,950.
Levels & Target on the chart. The immediate target of 2600 on cards in next 3 to 6 months. Algo in buy mode.
Perfect CUP & Handle formation, chini kam chai jaida. The breakout above 23000, can result in 2K move, so be cautious with your shorts. My hands are itching for short creation, but technically we are strong. Today on OI data, there is no profit booking and short position is getting created, if market goes up the shorts will propel the BN like a rocket. Will...
#banknifty Cypher pattern:- Bearish formation seen on #banknifty Focus on PRZ - Price Reversal Zone (22,650 - 22,750) Nifty P/E stands at 28.86, bubble expanding, be cautious. Head & Shoulder formation in progress in a 1-hour chart, any bubble break will happen below 21,000 might see a target of 18,895. I won't change my view based on dow or vaccine news, I...
On public demand, posting 1 year backtest result on algo performance on #banknifty.
#dixon in unchartered territory, the immediate target is 7638, the entry point is 4th wave around 6666-6750, for a target of 8000 in the medium term. SL 6250.
#pidilite buy above 1475, SL 1357 T 1710 Risk:- 118 Rs Reward:- 235, RRR 1:2 Time Frame:- 6 months to 1 year
Algo generated sell @ 2020-07-21 13:45 3304.05 Target on chart, SL 3500.
Cypher pattern:- Bearish formation seen on #banknifty:- Pattern Failed Focus on PRZ - Price Reversal Zone (22,650 - 22,750):- Failed, closing above Head & Shoulder formation in progress in a 1-hour chart, any bubble break will happen below 21,000 might see a target of 18,895:- Failed, closing above 22,750. I said: "I won't change my view based on dow or...
We have hope trading vs reality trading. Hope Trading:- All is well, the COVID vaccine in line and economy will bounce back. Reality:- COVID is a reality, the economy will take years to recover and Nifty P/E 29.01 on 21st July. RSI is at 52 week High We are in PRZ - Price Reversal Zone so be cautious. Wait for reversal signal on chart to short, blind short...
Decision Zone SL for all short term long 21,495 2:00 PM to 3:30 PM, non stop 90 mins short-covering, until and unless followup buying comes, will be consolidated at this level of 21,000 to 22,500. We are trying to form H&S formation on the hourly chart, which might require the next 1 to 2 weeks to mature. Below 21,028 we have a target of 18,976 (23080 to...
#banknifty #trading #stratergy Most important for bears, SL for shorts 21,935 (Well defined SL). Wave 4 completed at 21,935 ( 49.82% of Wave 3). Wave 5 has 3 targets 21,496 (complted)/ 21,225 (completed) / 21,057 Wave 5 is completed or yet to be completed is a question mark. Will focus on the trend line joining 22,995,22650,21935, pls keep a close watch the...
#banknifty #trading #stratergy Levels are on the chart, the pullback expected till 21,769 to 22,105. Will avoid trading in the decision zone 21,769 - 22,105. SL for all positional shorts is 22,650 and intraday short levels are 21,122. I have kept the levels and analysis very simple for a layman to understand.
Downtrend Analysis #banknifty Wave 3 length is 15,533 Wave 4 is 38.2 % to 61.8% of Wave 3 i.e within the range of 22,049 - 25,715. The current high 23,080 is 44.8% of Wave 3. Why we assume the wave 4 is complete is due to the following reasons:- 1. #banknifty was having a strong resistance at 22,480 and it took some time & good momentum to break it. 2....
All positional short term long position SL triggered at 22350 (Intraday & Positional). We have already corrected 1000 points from the top, if weakness continues we further see 1000 point correction immediate term. Which coincides with our support zone. Decision Zone:- 22,224-22,399 SL for all shorts is 23,080 or 22,767 (is also good).