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RahulPrajapati

Bank Nifty - Crash or Reversal

Short
Nifty Bank Index (NSE:BANKNIFTY)  
RahulPrajapati  
NSE:BANKNIFTY   Nifty Bank Index
Support and Resistance Multiple Time Frame Analysis Harmonic Patterns BANKNIFTY NIFTY stocktrading
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supportandresistance mtfa harmonicpatterns banknifty nifty stocktrading
Bank Nifty is at crucial support level i.e. 31100--30900.

Break and sustain below 30900 will take it to 30200--29800 and then to 29000.

else , if unbale to break this support zone we can expect a sharp reversal in Bank Nifty.


Trading Strategy

-1x 25FEB2021 FUTURES - ₹ 31274.95
-2x 25FEB2021 29000PE - ₹ 391.4

Breakeven - 25943.0-32057.0

We are safe till 25950 downside.

Incase market went up so at 32000, we'll sell 33000 PE and buy 32000 PE.
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