Bank nifty Range Break possibilities.
Telah dikemas kini
Bank nifty is stuck in a range. either side break can trigger a sharp move.
on weekly & Monthly chart it is still positive.
Below is weekly chart. As it is still above 20 SMA view is positive.
Risk Traders can go long here as Bank nifty is available at lower end of the range by keeping stop loss ( day low ) below the lower end of the range & today there is a big lower wick.
If the range breaks on downside, avoid if there is massive gap down or big fall & wait for pull back to short. Be quick to book profits at below given trend lines. as overall structure is positive.
Overall my view is still positive. Because there is not a structural breakdown on long term charts. Weak structure & Price stability below 20 SMA on weekly chart will be a caution sign for me
on weekly & Monthly chart it is still positive.
Below is weekly chart. As it is still above 20 SMA view is positive.
Risk Traders can go long here as Bank nifty is available at lower end of the range by keeping stop loss ( day low ) below the lower end of the range & today there is a big lower wick.
If the range breaks on downside, avoid if there is massive gap down or big fall & wait for pull back to short. Be quick to book profits at below given trend lines. as overall structure is positive.
Overall my view is still positive. Because there is not a structural breakdown on long term charts. Weak structure & Price stability below 20 SMA on weekly chart will be a caution sign for me
Nota
Those who entered at lower end of the range, can book profit as we are at higher emd of the range.Nota
Still rangebound 😆
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.