Banknifty still trading in Descending channel pattern| 14/08/23
Updated
Good Morning Traders, I hope you will be doing good in Trading and your life as well. Keep learning the things, the day is not much far, where your consistency is gonna to pay you huge rewards. Again keep educating yourself.
Banknifty is trading in Descending Channel Pattern since almost a week, let's see where it goes, analysis says soon we will see breakout, it could be today also. Chances are high that banknfity is going to give breakout soon, well for today's scenario i think market is going to open in minor gap up. We have stick with levels, i have already marked all the levels. I will write below in details.
Important levels for banknifty:-
Buy above 44936 if levels get sustained at least for 15 mints.
Targets we can see in upside 45052/45158/45232
Keep Stop loss at 44728
Note:-Banknifty have support in a range of 44425 to 44475, so if Price take support in this range and make any kind of price reversal pattern then that levels could be also to go long from there. keep stop loss at 44270, if this gets executed.
Sale below 44618 if levels get sustained at least for 15 mints.
Target we can see in downside 44450, If support gets breakdown then next support we can see somewhere 44270.
Keep Stop loss at 44728
Note:- Banknifty always gets rejected from upper range of Descending channel, so if today also we see any price rejection and we see any kind of price reversal pattern at top of descending pattern then we can take short entry. keep stop loss at 45125, it this gets executed.
Note:- Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
And Today ISRO aims for the Moon with launch of Chandrayaan-3. Earlier our chandrayaan-2 failed in doing so, despite being successful in sending back home valuable data. So today is the again proud moment for all indians. Let's Pray for successful mission.
Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thankyou.
Banknifty is trading in Descending Channel Pattern since almost a week, let's see where it goes, analysis says soon we will see breakout, it could be today also. Chances are high that banknfity is going to give breakout soon, well for today's scenario i think market is going to open in minor gap up. We have stick with levels, i have already marked all the levels. I will write below in details.
Important levels for banknifty:-
Buy above 44936 if levels get sustained at least for 15 mints.
Targets we can see in upside 45052/45158/45232
Keep Stop loss at 44728
Note:-Banknifty have support in a range of 44425 to 44475, so if Price take support in this range and make any kind of price reversal pattern then that levels could be also to go long from there. keep stop loss at 44270, if this gets executed.
Sale below 44618 if levels get sustained at least for 15 mints.
Target we can see in downside 44450, If support gets breakdown then next support we can see somewhere 44270.
Keep Stop loss at 44728
Note:- Banknifty always gets rejected from upper range of Descending channel, so if today also we see any price rejection and we see any kind of price reversal pattern at top of descending pattern then we can take short entry. keep stop loss at 45125, it this gets executed.
Note:- Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
And Today ISRO aims for the Moon with launch of Chandrayaan-3. Earlier our chandrayaan-2 failed in doing so, despite being successful in sending back home valuable data. So today is the again proud moment for all indians. Let's Pray for successful mission.
Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thankyou.
Note
For sensex hero zero trade you can buy Sensex 14th july 65900 CE at 55 now.
keep stop loss at 15
Targets 80/105/158/215+
Chances are high market should go up from here, if our analysis will work accurate then these targets definitely should come
Note
and hedge with any out the money put option at lower price to save capital if something goes against to our analysis.so buy 65400 pe at 22 now
Note
Made high 163,,,yoooooo again best hero zero trade. we have bought at 55 and now it is on 163 enjoy profits, i have not updated many times because i have been warned by trading view that in my last idea i have updated many times and this is against to house policy, so i was just following that. done for the day...Do not forget to support me here do like and follow, thankyou
Rahul Pal (Indian Moderator)
(Full Time Trader & Investor)
Join Free telegram t.me/TraderRahulPal1
For Live Streaming join youtube.com/@realbullstrading26
Learning Stock Market and Trading Programmes.
Whatsapp:- 9560604457
(Full Time Trader & Investor)
Join Free telegram t.me/TraderRahulPal1
For Live Streaming join youtube.com/@realbullstrading26
Learning Stock Market and Trading Programmes.
Whatsapp:- 9560604457
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