Bank Nifty Intraday Trade Setup for 18th may 2020
Good Morning sir's
Banking Sectors is still weak and has a major role for current downfall. Government has announced simulation package but market has rejected it Badly.
Technical View
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Bank Nifty has made a Head and shoulder pattern in 2 hour time frame and neck line of this H&S pattern is on 18500 but I had seen one more support lower then neck line which is on 18200 so I will consider this level as for neck line (18200) . 18200 is a last hope for Bank nifty Index. Index will breach on harmonic przs ( 16650 then 16080) on breakdown of 18200.
Trade setup & Intraday levels
===============================
Buy : 19000 Stop loss : 18830 Target : 19140/19300/19430
Sell : 18650 Stop loss : 18840 Target : 18500/18370/18270
Levels in Spot Prices..
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take the different view and opinions.
Good Luck and Happy Trading
Virendra Pandey
Banking Sectors is still weak and has a major role for current downfall. Government has announced simulation package but market has rejected it Badly.
Technical View
==================
Bank Nifty has made a Head and shoulder pattern in 2 hour time frame and neck line of this H&S pattern is on 18500 but I had seen one more support lower then neck line which is on 18200 so I will consider this level as for neck line (18200) . 18200 is a last hope for Bank nifty Index. Index will breach on harmonic przs ( 16650 then 16080) on breakdown of 18200.
Trade setup & Intraday levels
===============================
Buy : 19000 Stop loss : 18830 Target : 19140/19300/19430
Sell : 18650 Stop loss : 18840 Target : 18500/18370/18270
Levels in Spot Prices..
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take the different view and opinions.
Good Luck and Happy Trading
Virendra Pandey
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