#BearishEngulphing

16 May 2021

#BankNifty weekly notices a #BearishEngulphing chart pattern on weekly scale. Now its trading below 20 and 50 DEMA.

Trading and sustaining below PWL it will extend its weakness. Longs only above 33500 on DCB. Would be a good idea to create a positional short with proper hedge. A risk averse trader may wait for break down on weekly chart below PWL or RSIStairs to breakdown below 40 on daily scale.

SL and risk management will be important while trading #BankNifty as wild horse can surprise on either side with a big move which is pending since sometime.

16 May 2021

Not

Disclaimer: All these stock ideas or trade updates shared here are for educational purpose only and completely non-advisory in nature. I am not a SEBI registered analyst and strongly recommend people not to trade in NSE / BSE / MCX market basis this ideas. Objective of posts is to educate and help members learn technical analysis and hedging techniques from my personal trade picks to reduce the risk per trade and save yourself from bigger losses.

All these trade picks are selected using technical analysis and price action (VSA MomentumInvest Trading Setup) and for my own trading purpose only. Technical indicators are lagging and may generate false buy/sell signals. Market is supreme and my views may go horribly wrong. Please don't consider these tr
ade ideas as trading recommendations. You may consider it for learning or at max use it for paper trading. Strictly avoid it for trading using real money. I am not responsible for any kind of profit and losses arising out of the above calls. Stock market trading and investment is subject to market risks. Contact your financial advisor before taking trades (or trade at your own risk).

18 May 2021

Not

Now #BankNifty trading above all moving averages 20/50/200 DEMA and RSIStairs also turned bullish 65(H), 55.15(D), 57.81(W). View negated as it didn't break PDL rather it has broken out above 33500 on DCB.