As explained on the above chart a clear 5 wave structure can we seen and noticed Bearish Div on 1hr TF. I am short personally. The view is positional not for day trading. SPOT : 20030 STOP LOSS : 20225 T1 : 18663 T2 : 18300 My personal trade is as follow : BUY 20000 PE @ Rs. 440 SELL 19500 PE @ Rs. 240 Max Risk Rs. 200
BankNifty may retest 18250 to 18950 23% - 38% Fibonacci retracement levels before it's further course. Chart explains everything. Can go long. Entry : CMP Stop Loss : 17250 (SPOT) Target 1 : 18250 (SPOT) Target 2: 18900 (SPOT)
My view is short on BankNifty based on following analysis. As per my observation Banking Sector looks under performing or weaker in comparison to Nifty. Nifty after making a low 7511 on 24th March has corrected almost near 50%, whereas BankNifty is struggling to correct even 38%. Also I have observed Bearish Reverse Divergences on Daily Time Frame before...
As per same principles like my previous study on BankNifty, Indusind Bank is under performing in Banking Sector. Short at 485 Stop 492
Based Dow Theory and Observing Bearish Divergences on Oscillators Entry : 452 Stop : 454
My view is short on BankNifty based on following analysis. As per my observation Banking Sector looks under performing or weaker in comparison to Nifty . Nifty after making a low 7511 on 24th March has corrected almost near 50%, whereas BankNifty is struggling to correct even 38%. Also I have observed Bearish Reverse Divergences on Daily Time Frame before...