Nifty Bank IndexShort
Bank Nifty Trading Strategy for 21th Aug'2020
OI up by 17.34% and price down by -1.28% shows short build-up and a good amount of short were build up in the last 30 mins with good volume.
This time price reversed from 22,308-22,381 zone, which is not a good signal. If #banknifty starts trading below 21,778 and goes below 21,622.
Then we are directly heading towards 21,370 / 21,000 / and sub 21k levels.
Alert:- Don't use this fall as a buying opportunity, I am seeing a deep correction on the chart.
If you have to buy, buy above 22,450 levels, not before that.
Note:- 21,000 support has been defended 3 times, this time no more 21K ki sarkar. Sub 21k levels will start liquidation of the longs created around 17k to 18k levels and will result in a deeper correction.
If you hit support multiple times, it becomes weak and bound to break.
Trade what you see not what you feel, follow it and you will feel the x-factor.
This time price reversed from 22,308-22,381 zone, which is not a good signal. If #banknifty starts trading below 21,778 and goes below 21,622.
Then we are directly heading towards 21,370 / 21,000 / and sub 21k levels.
Alert:- Don't use this fall as a buying opportunity, I am seeing a deep correction on the chart.
If you have to buy, buy above 22,450 levels, not before that.
Note:- 21,000 support has been defended 3 times, this time no more 21K ki sarkar. Sub 21k levels will start liquidation of the longs created around 17k to 18k levels and will result in a deeper correction.
If you hit support multiple times, it becomes weak and bound to break.
Trade what you see not what you feel, follow it and you will feel the x-factor.
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