Bank Nifty Breakout - Long

١٧ أكتوبر ٢٠١٩

Bank Nifty appears to have completed its consolidation below the 200DMA and closed above the resistance with a bullish breakout above the triangle.

RSI(14) indicates a build-up in strength.

Target: 30800
SL: 28500

٢٧ أكتوبر ٢٠١٩

ملاحظة

News based selling Re: SC order on Telecommunications companies was followed by a support seen at 200 DMA which is incidentally also one of the recent swing lows formed around July 24, 2019. Upmove above 29700 could mean the original target is achievable.

SL remains at 28500.

٢٩ أكتوبر ٢٠١٩

ملاحظة

Uptrend appears to be intact.

Stop Loss should now be trailed up to 28900.

٣٠ أكتوبر ٢٠١٩

ملاحظة

Doji which is indicative of indecisiveness formed with higher high and higher low.

Bias remains bullish.

Stop Loss should now be trailed up to 29400.

٣١ أكتوبر ٢٠١٩

ملاحظة

Stop Loss should now be trailed up to 29800

١ نوفمبر ٢٠١٩

ملاحظة

Stop Loss should now be trailed up to 30000.

٦ نوفمبر ٢٠١٩

أغلقت الصفقة: تم الوصول للهدف

Banknifty witnessed exhaustion close to its target at ~30600 forming a hammer followed by a red day. Profits should be booked at this stage