subhagghosh

subhagghosh Updated 

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....

subhagghosh Updated 

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).

subhagghosh

Bank Nifty Trading Strategy for 13th July'2020 #banknifty:- BankNifty closing below 22480 (which used to a strong resistance is a sign of bearishness). SL for all long trades:- 21,350 ( SL triggered for long on an intraday basis but holds on a closing basis) Decision Zone 22,022 - 22,170 #banknifty if starts trading below 22350 for an hour, then we have the...

subhagghosh

#banknifty:- Nothing has changed, the structure is still bullish (last 2 days repeating the same thing) SL for all long trades:- 21,350 Decision Zone 22,691-22,919, 228 point no trading zone. Resistance Zone:- 23,000 - 23,100 Suupport Zone:- 22,022 - 22,170 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...

subhagghosh

#banknifty:- Nothing has changed, the structure is still bullish. SL for all long trades:- 21,768 Decision Zone 22,832-22,752 Resistance Zone:- 23,000 - 23,100 Suupport Zone:- 22,374 - 22,442 / 22,022 - 22,170 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 wave is 24,398 which coincides...

subhagghosh

#banknifty:- Pls avoid shorting. Decision Zone 22,442-22,374 Resistance Zone:- Don't see anything :) till 24,365. 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 wave is 24,398 which coincides with 50% of the fall 24,365. As per wave structure, the next logical target above 22,418 is 24,365.

subhagghosh

#banknifty:- Avoid shorting Decision Range Resistance Zone 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 wave is 24,398 which coincides with 50% of the fall 24,365. As per wave structure, the next logical target above 22,418 is 24,365.

subhagghosh

#banknifty is struck in broader range of upside and downside from 24th June to till date. The decision zone is , upside +ve and below -ve. The wave structure is not damaged and is intact for the last 8 days, decisive big move either side is on card:- Upside target of Wave 5:- 61.8% 23,420.72 100% 24,009 138.2% 24,597.28 The whole structure will get...

subhagghosh

#banknifty is struck in broader range of upside and lowerside. The decision zone is , upside +ve and below -ve. Play the range for swing trading until you have a range breakout or breakdown. The positive structure is still intact with an upside target of 23K is still valid. Tarde light till we have direction in place.

subhagghosh

251,894 (20.05%) increase in #banknifty future with 607.45 (2.84%) shows huge long buildup in the system. BN future levels added 6841 contracts added. 21,526 is the immediate big support in #banknifty Immediate resistance for expiry is 22500, if broken then the target is 23,536. I wish you all a happy trading. Trading is all about making money and nothing...

subhagghosh

#banknifty consolidating is 900 points range from 20,900 to 20,800 in the last couple of days. I have reduced my long position today from the index, any breakdown or breakout has to be traded. SL of the directional trade can the decision zone (which has been kept intact today). Don't play the trend line, what for zone breakdown confirmation before going short....

subhagghosh

The wave structure is not damaged and is intact for last 2 days, Monday can be decisive big move either side:- Upside target of Wave 5:- 61.8% 23,420.72 100% 24,009 138.2% 24,597.28 The whole structure will get damaged below 20,929 Decision Range is 21,086-20,916, during market hours try to keep the focus on the zone of confluence, where bull vs bears will...

subhagghosh

Daily chart Doji formation:- High 21700 Low 20929 The wave structure is not damaged and is intact:- Upside target of Wave 5:- 61.8% 23,420.72 100% 24,009 138.2% 24,597.28 I am amazed to see almost 99% of yesterday' s analysis either on trading view or youtube, all were bearish for this expiry. I was only few of those who have given the long...

subhagghosh

The momentum is very strong, bears are squeezed, neither there is proper retracement not pullback for bull for proper entry & bears to exit. OI down by 4.5%, again short covering. You can expect 24K, out target for the last 15 days to be done by Thursday. Don't dare to short in June expiry, bindas ride the trend there won't be any correction in this expiry....Enjoy

subhagghosh

SL for the current up move is 21,022 (low of wave 4) The current up move wave structure seems to be completed at 22077. We now expect an ABC correction, which should not break the support of 21,022. The index might take a pause for a couple of days before resuming the upside journey. Positional Long SL is 20600. Note:- Overall today BN up by 370 points i.e....

subhagghosh Updated 

Next 15 days Review:- 1. The breakout above 19450 on 1st June, the upside target was 24,301. 2. The next round of up move is above 21,967, the upside target will be 24,262. With the current momentum in place, the upside target of 24,262-24,301 seems to be valid. Medium-term reversal is only below 19450. Short term reversal is below 20316. Current upmove SL...

subhagghosh Updated 

Nothing has changed in the last two days, consolidation with negative bias is in progress. Fist sign of strength for bulls is above 20,635 & further validation above 20,750. Upside Target :- 24,381 SL :- 19,455 The bullish structure will be compromised below 19,455. The downside target will be given once the structure is broken. Till that time, use buy in...

subhagghosh

In the last 3 days, this is the first attempt for the breakout, which got failed. We said long above 20,635, long did not trigger as per recommendation and we got saved from the false breakout. Those of you have use decision zone to trade, must have earned 200 to 300 points in BN. For me, the structure remains the same, will use dips to buy. Decision Range ...