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 14, 2015

BANK NIFTY ANALYSIS

Intraday Update 11.30 Am:
BN found support at 18100 levels and has reached the 200 DMA.


TRADE PLAN:

Book out Longs and short with EOD close above 18510 - 200 DMA. OR Trail SL to 18350 -50 DMA - Hour Close.

Pre market View:

Two Scenarios' in play:
Bullish - c.B ended at 18034 and a new wave has started.

Bearish : iii ended at 18034 and ongoing is iv. C.iv is pending and likely to resist at 18350 - 50 DMA and fall to form new lows below 17900


SL for Positional Longs trailed to yesterday Low Book out at 18310 - 350 spot.

Sell at 18350 spot levels - SL EOD close above 18350 - 50 DMA.



1 comment:

naveen said...

Hi Sir ..its been long time kindly update ur bank nifty views ..very helpfull for novices like us ...thank you ..

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