Nifty Bank IndexShort
BANKNIFTY View for 24th November, 2020
Power of algo and Price Action with pivots
TF Analysis -
1 hour - Narrowing of price
15 min chart - Rejection from the 29300-400 channel
29000 level is the immediate support and once broken and a 15 min close can easily give 28750
3 min chart with the algo -
3 great trades based on price action and pivots with an RR of greater than 1.9
Plan for tomorrow -
Sell on rise (wait for 29k to be taken out comfortably)
Support and Resistance zones given on the 15 min chart.
Pivots used on the 3 min chart - Fib enabled daily and weekly
15 min - Weekly pivots
1 hr - Monthly and yearly pivots
Happy Trading!
TF Analysis -
1 hour - Narrowing of price
15 min chart - Rejection from the 29300-400 channel
29000 level is the immediate support and once broken and a 15 min close can easily give 28750
3 min chart with the algo -
3 great trades based on price action and pivots with an RR of greater than 1.9
Plan for tomorrow -
Sell on rise (wait for 29k to be taken out comfortably)
Support and Resistance zones given on the 15 min chart.
Pivots used on the 3 min chart - Fib enabled daily and weekly
15 min - Weekly pivots
1 hr - Monthly and yearly pivots
Happy Trading!
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