Nifty Bank IndexShort
BankNifty Levels for Intraday 23 Oct 2024 Selling Trend
Today BankNifty closed below the Trend line / Channel of Daily Timeframe which was started in January which is a sign of trend change and price may go more downside.
As per the today price action (lower low and lower highs) the selling was continue after each rise,
So as per the price action and trend change price is indicating sell on rise market.
So for minimal risk and better risk:reward if price starts moving upwards and taking reversal near 51500, then we can enter for sell trade.
Otherwise if any candle close below today closing price(which act as immediate support/resistance) 51250, then we can also enter for sell trade.
Note: Its just an analysis, wait for the price to confirm.
Disclaimer: Always follow risk to reward, this is the only key to success in market, no matter how much good a trade is looking we never know the future.
As per the today price action (lower low and lower highs) the selling was continue after each rise,
So as per the price action and trend change price is indicating sell on rise market.
So for minimal risk and better risk:reward if price starts moving upwards and taking reversal near 51500, then we can enter for sell trade.
Otherwise if any candle close below today closing price(which act as immediate support/resistance) 51250, then we can also enter for sell trade.
Note: Its just an analysis, wait for the price to confirm.
Disclaimer: Always follow risk to reward, this is the only key to success in market, no matter how much good a trade is looking we never know the future.
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.