Bank Nifty Trading Strategy for 2nd June'2020.
If I see the chart correctly, there is a breakout of breakout that happened around 19450 levels.
17105 to 20122 recovery took 63 bars on 30 min chart and time of almost 10 days.
Before moving to the next level, at least price or time correction is required.
Price Correction:- Might be till 19,000 to 19,350 levels along with time correction of 1/3 of 10 days, i.e. 3 days.
For the next 3 days, we need consolidation for the next major move.
If the next levels of breakout happen above 20,223 levels, the target is as big as 23,139.
Setup fails below 18,900 closings.
Some people were talking about RSI divergence, this might give a dip for an entry point.
#banknifty #niftybank #trading
17105 to 20122 recovery took 63 bars on 30 min chart and time of almost 10 days.
Before moving to the next level, at least price or time correction is required.
Price Correction:- Might be till 19,000 to 19,350 levels along with time correction of 1/3 of 10 days, i.e. 3 days.
For the next 3 days, we need consolidation for the next major move.
If the next levels of breakout happen above 20,223 levels, the target is as big as 23,139.
Setup fails below 18,900 closings.
Some people were talking about RSI divergence, this might give a dip for an entry point.
#banknifty #niftybank #trading
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