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scorpiomanoj
Jul 30, 2018 4:39 PM

BANK NIFTY - CUP AND HANDLE BULLISH PATTERN Long

NSE:BANKNIFTY1W
Nifty Bank IndexNSE

Description

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Bank Nifty - C & H pattern formation observed.
CMP 27842
Possible target 27840 + (27480-24430)/2 = 29365,
Stop 27000.

Possible trading strategies :

1) Protective Put (Futures + Put option)
2) Spread strategies (Long ATM call + short OTM call)
Trend AnalysisChart PatternsTechnical IndicatorsBANKNIFTYNIFTYsensex
Comments
chandru81
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Bullish pattern debunked!! Severe shorts here
scorpiomanoj
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@chandru81, Never judge a market on the basis of just 1 day move.
chandru81
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@scorpiomanoj, Point taken sir! I believe Cup & handle never lets us down, I hope we will see 29k levels in next 2 weeks?
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