Bank Nifty Trading Strategy for 28th Apr'2020 -Big trade awaited
BANKNIFTY
BN H&S pattern got failed today due to the gap up.
The price is narrowing down and BN is getting ready for a decisive move.
Pivot Zone or No Trade Zone:- <20,094 - 20,048> Above is positive & below in short.
Two types of traders are possible:- The analysis is done on a 1-hour time frame and the target might take 3 to 5 days.
- a) Long:- Long above 20,880, T - 22,331, below the red zone on the chart (approx 20450), Midterm target I will post during market hours.
b) Short:- Short below 20,024 , T - 19,765->19,541->18750->17,782 (You do pyramiding, i.e. increase short as each level breaks).
The excellent move is expected after two days of the lackluster day, don't miss the big move awaited.
It's doesn't matter you are right to wrong in a trade, but what it matters is how small you lose in a losing trade and how big you earn in winning trades. I am a pure price action trader and work on demand & supply.
No insider news or algo levels works on the index, the thing which is working of the last 100 years in trading is demand & supply & will continue to do so in next 100 years
