Nifty Bank Index
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Bank Nifty Trading Strategy for 6th Sep'2020

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#banknifty OI down by -11.44% and price up by +0.56 %, which indicates short-covering.

FII bought 236.71 Cr & DII sold 471.56 Cr, DII is selling for the last two days and FII buying intensity has reduced, which indicates capped upside.

FII & PRO:- Index Long
DII & Retail:- Index Short

Overall neutral.

Decision Zone 22,359- 22,506 below is bearish, and above is bullish.

Long SL is 21,811.

Medium Trend Reversal Level:- 23,388


I posted on Friday:-"The price is expected to reverse from PRZ 22,545 - 22,659 (Don't short blindly, until you see price action reversal signal)"

Price reversed and made a low of 22,247.

We seem to be on wave 5, which might have an upside target of 22,890 - 23,090.

Positional Sell is only below 22,811.

Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
Trade fechado: objetivo atingido
22,890 reached.
BANKNIFTYChart PatternsniftybankTrend AnalysisWave Analysis

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