Nifty Bank IndexPanjang
Bank Nifty Reversal Trade-Setup with Great RR
Bank Nifty is trading at big demand zone and and we see significant potential for an upside move for several reasons:
Reasons for Going Long in Bank Nifty:
1. Ichimoku Daily Cloud Bottom
2. Ichimoku Weekly KS Support
3. Bullish MACD Divergence on the 1-hour time frame
4. Completing Triple Correction—WXYXZ (considering a truncated scenario; otherwise, BN might aim for the 127% and 161.8% levels mentioned in the earlier post)
CMP: 49,718
Expected Targets: 51,300, 51,700
Stop Loss: 49,590
Disclaimer: We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Reasons for Going Long in Bank Nifty:
1. Ichimoku Daily Cloud Bottom
2. Ichimoku Weekly KS Support
3. Bullish MACD Divergence on the 1-hour time frame
4. Completing Triple Correction—WXYXZ (considering a truncated scenario; otherwise, BN might aim for the 127% and 161.8% levels mentioned in the earlier post)
CMP: 49,718
Expected Targets: 51,300, 51,700
Stop Loss: 49,590
Disclaimer: We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Nota
Almost 680 points after our entry, updated Stop loss is CTC.Nota
Aug 20, 2024 -- BN gained 1200 points after our entry, close 80% and trail SL for 20% positionsNota
Bank Nifty is forming a subwave, and we observed a good dip. We're using this dip to buy more as we aim for our final target.
Stop loss is below today's low 50343
CMP is 50566
Expected destination - 51300+
Nota
Aug 26, 2024 - Our expected target of 51,300 for BankNifty hit with the index making a high of around 51,313. Hope all those who follow our ideas were able to ride this trend.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.