#BankNifty Trading Strategy for 28th July'2020 Short

Nifty Bank IndexNSE

Description

⋅ Jul 27, 2020 2:47 PM

#BankNifty Trading Strategy for 28th July'2020

The pattern got failed badly in #banknifty and the reversal of the short term trend will be below 20,096.

Patterns Got failed in the last 2 week:-

1. PRZ in 22,650-22,750 range got failed and made a high of 23,211.

2. Cup & Handle got failed below 23,428 and made a low of 22,803.

Now we have bearish shark #harmonic pattern on #banknifty, where the targets are 21,476 / 21,028 / 19,733.

All the levels and decision zone are on the chart, the decision zone is above positive and below negative.

Trade what you see, not what you feel, enjoy trading.

Trade closed: target reached

⋅ Jul 28, 2020 6:17 PM

Perfect analysis, #banknifty took support from the trendline (21,600) and closed in our indecision zone.

Comments

Pruthvigt

⋅ Jul 28, 2020 2:13 PM

XB retracement to 0.786% is compulsory right?

subhagghosh

⋅ Jul 28, 2020 6:18 PM

@Pruthvigt, Not a mandate, hardly in the index you get a perfect harmonic.

MujeebKhanFDA

⋅ Jul 27, 2020 3:30 PM

Hey Subhash! Is there anyway we can get the futures chart here on BNF? It's just index! For Volume Analysis!

subhagghosh

⋅ Jul 27, 2020 3:43 PM

@TradeKhan, I didn't find a way out of future chart in trading view.