Trend reversal according to charts and multiple confirmation
1. Anticipation and 3 years of side ways pulled off major bull run, banknifty will take a breather.
2. Long term chart indicates resistance points as marked on chart
3. Fed meeting ahead will lead to conflicting scene among both Dow and nifty
4. Traders can start taking short positions .
5. 44500 to 43500 support area .
I consider this shorting opportunity window to be continue till next fed meet .
1. Anticipation and 3 years of side ways pulled off major bull run, banknifty will take a breather.
2. Long term chart indicates resistance points as marked on chart
3. Fed meeting ahead will lead to conflicting scene among both Dow and nifty
4. Traders can start taking short positions .
5. 44500 to 43500 support area .
I consider this shorting opportunity window to be continue till next fed meet .
Trade closed manually
Too many variables .. exited all PUT Positions. so updating .Bank nifty on support lines . may give a knee jerk reaction .
Trade closed: target reached
Reached first target -- 44500 :) .
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.