Banknifty 11-07-2022
Banknifty open below yesterday close --> close above yesterday high ==> big green candle from s3 to r4
showing good uptrend move
by 10:15 BN Shown negative divergence ( price-rsi ) therefore drawn --> custom fib extension on 30M candle ( 35404 )
TWO SCENARIO POSSIBLE :
1. price closes above 35404 on 15M candle then long trade can be taken with small target since already above r4-r5
2. price closes below r3 on 15M candle --> breaking vwap , ema (12,21),divergence-> then short trade taken target s3-s4
Scenario 1. -> executed about 100 possible points capture after 15M candle closed above r5 @ 14:00 .
showing good uptrend move
by 10:15 BN Shown negative divergence ( price-rsi ) therefore drawn --> custom fib extension on 30M candle ( 35404 )
TWO SCENARIO POSSIBLE :
1. price closes above 35404 on 15M candle then long trade can be taken with small target since already above r4-r5
2. price closes below r3 on 15M candle --> breaking vwap , ema (12,21),divergence-> then short trade taken target s3-s4
Scenario 1. -> executed about 100 possible points capture after 15M candle closed above r5 @ 14:00 .
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