BANKNIFTY Strategy for 21st November, 2020
Higher Time Frame Analysis -
4 HR - Clear channel formed
Major Trendline Broken - In effect from 13 November, 2020
1 HR - 30584 acting as dynamic support
For a gap up opening - Clear no trade zone between 30800-30940, long only above this channel
For a flat opening - 30615-30580 as support, and short below it till the lower end of the 15 min trendline
For gap down opening - Clear no trade zone - 30435-30360, and short below these levels
Bias towards a neutral to negative market due to the breakdown of the 4HR trendline and entering a narrow channel
HAPPY TRADING!
4 HR - Clear channel formed
Major Trendline Broken - In effect from 13 November, 2020
1 HR - 30584 acting as dynamic support
For a gap up opening - Clear no trade zone between 30800-30940, long only above this channel
For a flat opening - 30615-30580 as support, and short below it till the lower end of the 15 min trendline
For gap down opening - Clear no trade zone - 30435-30360, and short below these levels
Bias towards a neutral to negative market due to the breakdown of the 4HR trendline and entering a narrow channel
HAPPY TRADING!
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