BANK NIFTY - TIME TO SELL & RUN AWAY ?
Actualizado
Symbol - BANKNIFTY
CMP - 51720
BANKNIFTY is following a rising channel & headed towards its higher end. Currently It is trading 51600 - 51750 & trying to break it on upside.
According to my analysis, BANKNIFTY will face strong resistance around round level 51500 - 52000 which is also upper end of the rising channel. In case it breaks it on upside, A breakout fail scenario is highly likely. I'm expecting Nifty Bank to show a reversal from these levels & It may witness a strong profit booking.
Hence I am creating huge short positions in Bank Nifty July Futures at CMP 51720
I will add more position at 52000, if comes & will hold with SL of 52200
Targets I'm looking for on downside will be 49260 - 48000 & In case If it breaks this rising channel on downside, We may see huge fall till 45500 - 45600 which is the ultimate target if any major correction happens.
RR is very favorable here. That's why taking more position than usual.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
CMP - 51720
BANKNIFTY is following a rising channel & headed towards its higher end. Currently It is trading 51600 - 51750 & trying to break it on upside.
According to my analysis, BANKNIFTY will face strong resistance around round level 51500 - 52000 which is also upper end of the rising channel. In case it breaks it on upside, A breakout fail scenario is highly likely. I'm expecting Nifty Bank to show a reversal from these levels & It may witness a strong profit booking.
Hence I am creating huge short positions in Bank Nifty July Futures at CMP 51720
I will add more position at 52000, if comes & will hold with SL of 52200
Targets I'm looking for on downside will be 49260 - 48000 & In case If it breaks this rising channel on downside, We may see huge fall till 45500 - 45600 which is the ultimate target if any major correction happens.
RR is very favorable here. That's why taking more position than usual.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
Operación activa
It went 400 points in profit now trading near cost.Holding with given SL for mentioned targets.
Operación activa
CMP 52120Adding more position here.
Avg sell price now is 51920
Holding with updated SL 52320. Targets are same.
Operación cerrada: precio stop alcanzado
SL 52320 reached. Trade closed. 400 point loss booked.
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