BANKNIFTY SHORT set up is on its way - downward channel, wedge.
Hi all,
Why to short bank nifty ? - 20/50 crossover, long-term trend-line break, price respecting new downward channel.
Aggressive traders can short it at the moment with 19930 SL on closing basis. Safe traders can wait for the breakdown of 19250 (intraday or closing) and take support at 19000. Then sell in a retracement of 19200-19250 for a downward target of 18500.
Aggressive traders will have 1:2 RR while safe traders will have 1:1.5 risk reward.
Happy trading, keep trailing.
Why to short bank nifty ? - 20/50 crossover, long-term trend-line break, price respecting new downward channel.
Aggressive traders can short it at the moment with 19930 SL on closing basis. Safe traders can wait for the breakdown of 19250 (intraday or closing) and take support at 19000. Then sell in a retracement of 19200-19250 for a downward target of 18500.
Aggressive traders will have 1:2 RR while safe traders will have 1:1.5 risk reward.
Happy trading, keep trailing.
Kommentar:
What a pin point performance,
Bank nifty all the targets achieved before bouncing back from the support.
As suggested buy yesterday nifty and banknifty both rocked 2% and 4% respectively during today.
Cheers.
Bank nifty all the targets achieved before bouncing back from the support.
As suggested buy yesterday nifty and banknifty both rocked 2% and 4% respectively during today.
Cheers.
Safe traders, an entry has not yet triggered so wait for a breakdown below support and then retracement.