BankNifty has been forming inside bars in the daily time frame from the last couple of trading sessions
inside bars near a resistance zone are signs for reversals, interestingly BNF is not in any resistance zone as such. so what may be the possible reason for inside bars ?- may be less volume due to holiday season, may be a trade-setup by option writers to earn premium over an extended weekend.
whatever be the case - BNF is yet to complete its unfinished business to touch the all-time high in this rally.
This is for the ones who are not already long in BNF and looking for a fresh entry
double inside bars not near resistance zones usually give a fake breakout leading to retracement. This matches well with 30500-30700 support zone
Play would be
Wait till BNF [spot] nears 30500-30700 zone and the buy CE or Future
If BNF [spot] breaches 30500 and stays below for some time. Exit as this hypothesis would be deemed wrong in that case.
A happy new year and Happy Trading
MSK
Refer to some other interesting ideas of mine
inside bars near a resistance zone are signs for reversals, interestingly BNF is not in any resistance zone as such. so what may be the possible reason for inside bars ?- may be less volume due to holiday season, may be a trade-setup by option writers to earn premium over an extended weekend.
whatever be the case - BNF is yet to complete its unfinished business to touch the all-time high in this rally.
This is for the ones who are not already long in BNF and looking for a fresh entry
double inside bars not near resistance zones usually give a fake breakout leading to retracement. This matches well with 30500-30700 support zone
Play would be
Wait till BNF [spot] nears 30500-30700 zone and the buy CE or Future
If BNF [spot] breaches 30500 and stays below for some time. Exit as this hypothesis would be deemed wrong in that case.
A happy new year and Happy Trading
MSK
Refer to some other interesting ideas of mine
Not
Still playing around the inside bar range ...
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.