This blog is my trading diary. It is an attempt to organise my analysis and thoughts. I follow the charting methods given in JUST NIFTY blog by Ilango sir and so the charts would have striking resemblance to his charts. I am indebted to Ilango sir for having made this blog possible for me.

August 4, 2015

BANK NIFTY ANALYSIS

UPDATE 12.00 NOON:
As mentioned in Premarket view - supported at 18800 SPOT and bounced back upto 19050 spot.



Bullishness on Hour Close above 19050. So strict STOPLOSS  for shorts @19050. 

 Investing.com Charts: Possibility of a Bullish Bat Pattern in Contention holding 19050

 http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_882a98106564dad2d39d9edfd6015fe7.png



Pre market view:

BN SPOT resisted at 19019 - DAY/WEEK channel resistance and receding. Holding 18800-750 - 20 DMA is Bullish. Break of 18750 - would drag it down to 18650-600 - 10 DMA. Holding this level is important for upsides to continue. Bullishness continues on Breakout above 19050.




Trade Plan -
Stoploss for Shorts Initiated is 19020 spot. Partbook at 18800-750 and on breakdown of 19750-book at 18600 anf trail SL to 18720 - 20 DMA.
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