Bank Nifty Trading Strategy for the 24th Aug'2020
#banknifty setup is neutral, the broader range is 23,200 to 21,000 for the last 2 months.
The last 3 days market was in a tight range and almost no movement.
Wednesday 185 point range.
Thursday 193 point range.
Friday 179 point range.
i.e. 0.84% intraday movement.
With so little volatility, it's impossible to trade and make money.
As per the harmonic pattern, we see if price crosses 22,450 we might see 22,750.
Again 22,750 to 23,000 range is for creation of positional short, with SL of 23,220.
Decision Zone , until the market breaks 22,080 avoid shorting lower.
The last 3 days market was in a tight range and almost no movement.
Wednesday 185 point range.
Thursday 193 point range.
Friday 179 point range.
i.e. 0.84% intraday movement.
With so little volatility, it's impossible to trade and make money.
As per the harmonic pattern, we see if price crosses 22,450 we might see 22,750.
Again 22,750 to 23,000 range is for creation of positional short, with SL of 23,220.
Decision Zone , until the market breaks 22,080 avoid shorting lower.
