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subhagghosh
Aug 3, 2020 6:39 PM
Bank Nifty Trading Strategy for 4th Aug'2020
Short
NSE:BANKNIFTY
120
Nifty Bank Index
NSE
Description
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Aug 3, 2020 6:39 PM
OI up by 24.22% and price down by -2.62%, shows significant short buildup. There was along with short covering & short buildup for is last 2hours ( 1:30 pm to 3:30 pm).
#banknifty is made lower low and lower high constantly for the last 4 days
LH: 22,346/22,253/21,807/21,544
LL: 22,906/21,580/21,375/21,031
Won't be long until you 21,807 is crossed, bounce must be used to create short rather than dips used to create shorts.
Decesion Zone is 21,180 - 21,398.
Please avoid aggressive long and use the bounce to short.
Lower targets on cards:- T1 20,421 & T2 19,685 (these levels are valid if #banknifty starts trading below 21,000)
Trend Analysis
Chart Patterns
Technical Indicators
BANKNIFTY
Comments
subhagghosh
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Aug 4, 2020 9:01 AM
You can not fall in a straight line, the bounce is in line.
Avoid long until we cross 22k, 21,800-21,900 is a tough resistance zone.
veekay-trader
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Aug 4, 2020 2:53 PM
Sir, what does the arc signify ? How can we use that to trade ?
sanjeev123singla
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Aug 4, 2020 9:48 AM
bhai totaly wrong analiss khi bikau tu nhi ho buy bolte ho sell aur agar sell bolte ho tu buy dekh lena
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Avoid long until we cross 22k, 21,800-21,900 is a tough resistance zone.