Nifty Bank IndexCorto
Bank Nifty Trading Strategy for 11th Sep'2020
Actualizado
#banknifty OI up by 5.68 % and price up by +0.89 % shows a neutral position.
Again, the last 60 min move is a pure short covering, so we should not read much into the price action as a reversal.
#banknifty is seating in strong support zone 22,011 - 22,213 and we managed to hold it.
#banknifty is the uptrend channel, trade the channel, lower end of the channel is around 22150 and we managed to closed just above the channel.
The next hurdle on the upside is 22,865, which if crossed can see rally till 25k once again.
Decision Zone 22,554 - 22,641
We won't short now, as our downside target is done, fresh shorting will be below 21,886.
If 21,886 is breached, we will see 21,350 - 21,400 and followed by 21,050.
What we said yesterday:-"Trading Strategy:- Buy in dips till 21,886 holds for a target of 22,440 / 22,640 / 22,865", the first 2 targets were achieved.
Stratergy for tomorrow:- Won't use dip to buy now, will use bounce to sell with SL of 22,865, for a target of 22,220 / 22,050 / 21,886 / 21,400.
Trade what you see not what you feel, trading is all about making money nothing else.
Again, the last 60 min move is a pure short covering, so we should not read much into the price action as a reversal.
#banknifty is seating in strong support zone 22,011 - 22,213 and we managed to hold it.
#banknifty is the uptrend channel, trade the channel, lower end of the channel is around 22150 and we managed to closed just above the channel.
The next hurdle on the upside is 22,865, which if crossed can see rally till 25k once again.
Decision Zone 22,554 - 22,641
We won't short now, as our downside target is done, fresh shorting will be below 21,886.
If 21,886 is breached, we will see 21,350 - 21,400 and followed by 21,050.
What we said yesterday:-"Trading Strategy:- Buy in dips till 21,886 holds for a target of 22,440 / 22,640 / 22,865", the first 2 targets were achieved.
Stratergy for tomorrow:- Won't use dip to buy now, will use bounce to sell with SL of 22,865, for a target of 22,220 / 22,050 / 21,886 / 21,400.
Trade what you see not what you feel, trading is all about making money nothing else.
Operación cerrada: objetivo alcanzado
22,220 (completed) / 22,050 / 21,886 / 21,400.
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