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NIFTY & BANKNIFTY Weekly Plan#26-OCT: Weekly plan for NIFTY & BANKNIFTY #NIFTY key reference 11930-50F & 11890F areas #BANKNIFTY Key reference 24650F on upside , 24350F/24100F on downside #NIFTY key areas for the week are 11950F- Hold above for a bullish move to 12050/12100F Failure to cross 11950F , look to rotate to test 11890F, Below that is main bearish thesis to test lower to 11740F levels #BANKNIFTY key areas 24650F & 24370F , range bound within this range & break outside this range for a bullish or bearish play. Another refrence I will be mindful of is our swing support from last week 24100F, where markets bounced off from
NSE:BANKNIFTY1!
by PowerTrades
Index Gap Filling Target Strategy in Sudden Falls...(Rare Cases)Broke the trend line, fine retest and sudden fall. In such cases of sudden fall which happens very rarely, booking profits at right support is very important and you can find the right targets too. Targets should be the closing of the previous days. You can book profit at the previous day's closing and enter again with smaller stop loss targeting previous days closings, this is how index might fill the remaining gaps due to gap up openings. This same concept worked in Nifty also same day. Nifty took support exact at the previous days closings. So always mark the closing prices while market extreme volatile. I have checked this multiple times so please test this in live market while shorting Nifty or Bank Nifty. And please be free to comment on this, anything and everything is important. Let me know the con's of this strategy and more pro's are also welcome. Express yourself and like this if you actually understood this concept. Thank You!!!
NSE:BANKNIFTYEducation
by dhole_aditya