Bank Nifty Trading Strategy for 28th Feb'2020.
The expiry went as per plan:- No breakout or breakdown, ,range-bound with the premium version. Shorted in the morning, covered in a lower end of the channel. The rest of the day, the group preferred to relax with morning profit.
No Change in the plan as that of today, I will be bullish based on- 1st sign of strength will be above 30435, 2nd confirmation will be above 30630 and final validation will be above 30,758.
## Daily/Weekly/Monthly Resistance:- 31,467, 31650-31750 / 31905 (23.6% retracement of 32613 & 29612).
## Daily/Weekly/ Resistance / Supply Zone :- 31,113-31,183
## Tomorrow Resistance / Supply Zone :- 30946-31010
## Daily/Weekly/ Resistance / Supply Zone :- 30521-31630
## PIVOT:- 30,308-30,345
## ** Monthly Support Zone 29,994-30,208
There are two types of trades:- Range Trading and Breakout Trade.
1. Range Trade:- Buy/SELL in above or below Pivot Zone & GREEN Zones, SL is zone lower point, T 100 to 300 points/resistance zone.
2. Breakout Trade:- Once a pivot/zone is broken, keep SL as lower / upper end of the zone for next zone as the target or target 100 -300 points.
No Change in the plan as that of today, I will be bullish based on- 1st sign of strength will be above 30435, 2nd confirmation will be above 30630 and final validation will be above 30,758.
## Daily/Weekly/Monthly Resistance:- 31,467, 31650-31750 / 31905 (23.6% retracement of 32613 & 29612).
## Daily/Weekly/ Resistance / Supply Zone :- 31,113-31,183
## Tomorrow Resistance / Supply Zone :- 30946-31010
## Daily/Weekly/ Resistance / Supply Zone :- 30521-31630
## PIVOT:- 30,308-30,345
## ** Monthly Support Zone 29,994-30,208
There are two types of trades:- Range Trading and Breakout Trade.
1. Range Trade:- Buy/SELL in above or below Pivot Zone & GREEN Zones, SL is zone lower point, T 100 to 300 points/resistance zone.
2. Breakout Trade:- Once a pivot/zone is broken, keep SL as lower / upper end of the zone for next zone as the target or target 100 -300 points.
Penafian
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