Bank Nifty Trading Strategy for 3rd Aug'2020

31 thg 7, 2020

#BankNifty formed a Doji on daily chart, people are confused either to go long or short.

I kept on posting on social media, not to trade today as the #banknifty spend whole day in yellow zone.

I keep my view for Monday as intact that of today.

Bearish Shark formation target 1 is already done at 0.78 to .62 i.e. 22,672-22,320

Target 2, I won't share right now, let's us get some pullback and then I will post the target 2.

Correction Waves Details:-

Wave A : - 23,112 to 21,615.

Wave B : - 21,615 to 22,363 ( exact 50% of the wave A)

Wave C : - 22,363 to ------ (21,438 (Achieved) / 21,329 / 21,241 / 21,152 can be anyone)

Decision Zone:- Above +ve & Below Negative.

I don't pay much attention to monthly expiry day candles, as there is FNO adjustment. The market is still in the range of 21k to 23k.

Please don't take a strong positional trade, until this consolidation range is broken.

I have posted a separate positional strategy as a separate idea yesterday, which is still valid.