Bankniftyshort
Bank Nifty 19/04/21 MondayTrade Wisely And Smartly .
Clearly the trend is bearish small bounces may occur , but overall market is in panic mode.
Stay wise Buy on dips wont work, use option strategies to hold overnight.
Dont go for naked option buy or sell.
The levels are given ,which can be seen in todays session or tomorrow.
BRACE FOR BANK NIFTYCOVER all your longs on the expiry day(25/3/21) , ELLIOT wave count tells me that after c4 (34900) there will be swift c5 to unfold upto 31500.
Reason ; c3 is extended more than 1.618 times of c1
Conformation;c4 should not get into c1 trough ,RED LINE
selvam b
neowave practitioner
Banknifty Intraday Trade Setup [19 Feb 2021]Banknifty has broken the major trendline. However, it has strong support zone near 36500 levels.
Shorting opportunity once it breaks 36500 strongly.
Let it break this level and when it retest, you can short Banknifty near 36500. However, you can also short if you found rejection candle near the downward trend line.
BankNifty: Key Support and Resistance Levels [08 Feb 2021]BankNifty in crucial zones
Long Setup: If BankNifty breaks trendline, then look for possible long opportunity.
I will wait for Banknifty to test the trendline or come to blue area once it breaks.
Short Setup: If BankNifty gives break out the blue zone, then you might expect downtrend to continue further.
I will wait for BankNifty to test the trendline or the blue area, and then short it.
*** Look for candlestick rejection patterns for further confirmation
rading Bank nifty would be very challenging this month.Trading Bank nifty would be very challenging this month.
Monthly Chart - Formed Bearish Engulfing
Weekly Chart - Bullish engulfing
Daily Chart - Big Bull candle but at resistance ( may become last engulfing)
If on Monday. Banknifty does not take out 22300-22500 levels on the upside, chances are high that it would be going down again.
Immediate Support @ 21670 and 21530
Expecting High Volatility.
IF you are new bee trade light with strict stop loss.