BankNifty Intraday Trade Setup for 12th may 2020
Good Morning Everyone,
Banking sector is weak and has a major role for current downfall. Main question is is downfall will be continue today on the expiry day? Let see
Technical View
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Bank Nifty has made a head and shoulder pattern in hourly time frame. Index look weak on this level and can be fallen knife on breakdown . Level is 18,725. Index major resistance is still on 20,000 and support is on 18,700
Trade Setup
===================
A - Long Position is risky and can build only and only on resistance breakout which is above on 19,400.00
B: Short position is lower then 18,700
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 sector is weak and has a major role for current downfall. Main question is is downfall will be continue today on the expiry day? Let see
Technical View
==============
Bank Nifty has made a head and shoulder pattern in hourly time frame. Index look weak on this level and can be fallen knife on breakdown . Level is 18,725. Index major resistance is still on 20,000 and support is on 18,700
Trade Setup
===================
A - Long Position is risky and can build only and only on resistance breakout which is above on 19,400.00
B: Short position is lower then 18,700
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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