Niftybanknifty
Bank Nifty - Build up near resistanceNote: This is for educational purpose only.
There seems to be a build up near resistance of the channel in BankNifty. Not sure if this is accumulation or distribution. RSI is above 60 which indicates bullish strength. However, further up move can be seen on breaking the channel.
Short selling is coming for PEL on intradayPEL coming as short in Intraday for today.....
Reach me if you want to learn
Nifty Bank at Key Level Index Might looking bearish for Target Toward 20300-19500-19000 Sl @ 21,026.97
The Bank Nifty closed 2.72 percent lower at 20,525.15. which will act as crucial support for the index, is placed at 20,240.87, followed by 19,956.54. On the upside, key resistance levels are placed at 21,026.97
BankNifty 50 Intraday Trade Setup for 20th may 2020Good Morning Everyone,
Yesterday Index was volatile and most of movement has been eaten though Gap up after that Index has been traded in a wide range but still we have managed to make good money in Intraday if you guys listen me and manage to short from top (18100) . Now question is Index will be trade in a range and can give a clear movement .
Technical View
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Index might be trade in a range today to manage the difference of call put rates before the Expiry. Range upside level is 18000 and downside level is 17400..
Resistance : Index Intraday Resistance is 18000 and key resistance is 18200 then 19200.
Support : Intraday support is 18400 and Key support is on 16600
Trade setup
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Long Position can Build Index manage to close above 18200 with 17900 Sl.
Short Position is much safer and can be Open lower then 18400 with 18500 SL . Risk and Reward is good in sell side but you guys need wait to break 18400 and sustain lower then it.
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
