Bank Nifty Trading Strategy for 19th Oct'2020
#banknifty 23,528
The price has pulled backed to the uptrend channel what is running from 16th June, which is a bullish symbol and we are trading at the lower end of the channel.
We see triangle formation on the chart denoted by amber dashed lines, any significant movement will be seen outside this zone.
The decision zone is 23,436 - 23,580, below negative & above positive.
Breakout trades will be very fast and you need to have the trades planned.
Important Points:-
1. Below 22,970 you should not be long and the downside target is 21,850 to 22,050.
2. Above 23,900 exit any positional shorts and above 24,200 you should be always in buy for a bigger target of 25,232 to 28,250.
Don't take contra trade, else your account will be washed off, what has happened with multiple peoples in the last 3 weeks.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
The price has pulled backed to the uptrend channel what is running from 16th June, which is a bullish symbol and we are trading at the lower end of the channel.
We see triangle formation on the chart denoted by amber dashed lines, any significant movement will be seen outside this zone.
The decision zone is 23,436 - 23,580, below negative & above positive.
Breakout trades will be very fast and you need to have the trades planned.
Important Points:-
1. Below 22,970 you should not be long and the downside target is 21,850 to 22,050.
2. Above 23,900 exit any positional shorts and above 24,200 you should be always in buy for a bigger target of 25,232 to 28,250.
Don't take contra trade, else your account will be washed off, what has happened with multiple peoples in the last 3 weeks.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
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