Bank Nifty Trading Strategy for 6th March '2020.:-
Bank Nifty Trading Strategy for 6th March '2020.:-
The first sign of reversal above 29625, the trend will change to positive above 30,208.
Last line of supports was:- Support:- 28,872 / 27,989. NEXT level is 27,989 then flood gate open you might see 27,568 & 26,728.
You remember the corporate rate cute happened on 20th Sep,19 (L- 26,728 & H- 29,419), that flood gate has open and it’s a vacuum which can suck BN to 27K levels.
## Monthly Resistance:- 31,467, 31650-31750 / 31905 (23.6% retracement of 32613 & 29612).
## Weekly/ Resistance / Supply Zone :- 31,113-31,183
## Weekly/Resistance / Supply Zone :- 30946-31010
## Weekly/ Resistance / Supply Zone :- 30521-31630
## ** Monthly Resistance / Supply Zone 29,994-30,208
## ** Monthly Resistance / Supply Zone 29,587-29,612.
@@ Pivot Zone:- 28,743-28,610 Above +ve Below -ve
## Support:- 28,872/27,989
There are two types of trades:- Range Trading and Breakout Trade.
1. Range Trade:- Buy/SELL in above or below Pivot Zone & GREEN Zones, SL is zone lower point, T 100 to 300 points/resistance zone.
2. Breakout Trade:- Once a pivot/zone is broken, keep SL as lower / upper end of the zone for next zone as the target or target 100 -300 points.
The first sign of reversal above 29625, the trend will change to positive above 30,208.
Last line of supports was:- Support:- 28,872 / 27,989. NEXT level is 27,989 then flood gate open you might see 27,568 & 26,728.
You remember the corporate rate cute happened on 20th Sep,19 (L- 26,728 & H- 29,419), that flood gate has open and it’s a vacuum which can suck BN to 27K levels.
## Monthly Resistance:- 31,467, 31650-31750 / 31905 (23.6% retracement of 32613 & 29612).
## Weekly/ Resistance / Supply Zone :- 31,113-31,183
## Weekly/Resistance / Supply Zone :- 30946-31010
## Weekly/ Resistance / Supply Zone :- 30521-31630
## ** Monthly Resistance / Supply Zone 29,994-30,208
## ** Monthly Resistance / Supply Zone 29,587-29,612.
@@ Pivot Zone:- 28,743-28,610 Above +ve Below -ve
## Support:- 28,872/27,989
There are two types of trades:- Range Trading and Breakout Trade.
1. Range Trade:- Buy/SELL in above or below Pivot Zone & GREEN Zones, SL is zone lower point, T 100 to 300 points/resistance zone.
2. Breakout Trade:- Once a pivot/zone is broken, keep SL as lower / upper end of the zone for next zone as the target or target 100 -300 points.
