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subhagghosh
Sep 9, 2020 7:11 PM

Expiry Special Analysis for 10th Sep'2020. Long

NSE:BANKNIFTY60
Nifty Bank IndexNSE

Description

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#banknifty OI up by 8.93% and price down by -2.10 % show short buildups.

The last 30 min move is a pure short covering, so we should not read much into the price action as a reversal.

#banknifty is seating in strong support zone 22,011 - 22,213 and we managed to hold it.

#banknifty is the uptrend channel, trade the channel, lower end of the channel is around 22150 and we managed to closed just above the channel.

The next hurdle on the upside is 22,865, which if crossed can see rally till 25k once again.

Decision Zone 22,554 - 22,641

We won't short now, as our downside target is done, fresh shorting will be below 21,886.

If 21,886 is breached, we will see 21,350 - 21,400 and followed by 21,050.

Trading Stratergy:- Buy in dips till 21,886 holds for a target of 22,440 / 22,640 / 22,865.

Trade what you see not what you feel, trading is all about making money nothing else.

Trade closed: target reached

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Trading Stratergy:- Buy in dips till 21,886 holds for a target of 22,440 (done)/ 22,640 (done)/ 22,865.
Trend AnalysisTechnical IndicatorsChart PatternsBANKNIFTYniftybank
Comments
AbhilashValajipeta
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Hey, @subhagghosh I have been following your posts lately and I feel you are a good analyst. Your understanding in the Indian indices especially Bank Nifty is great. Thank you for taking the time to share your POV, I hope lotta folk stand to benefit from this.

Be strong & safe out there.
SPpremium
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@AbhilashValajipeta, You are right brother. Mr. Ghosh does awesome analysis.
JaikumarMadurai
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nice analysis
AbhilashValajipeta
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Thank you @subhagghosh and congrats as your analysis is respected by BN. Today was one tight run. but that's what makes this game worth it though!
Warissandhu16
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I have sep 10th 22300 pe @1125 shares should I sell in starting
subhagghosh
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@Warissandhu16 yes pls
subhagghosh
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Did u got saved?
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