Banknifty Strategy for 17th August,2020 "Do not sell" Check it

2020년 8월 15일

For 17/08/2020
PRICE ACTION,OPEN INTEREST & CHANGE IN OI, TECHNICAL ANALYSIS

Previous trading day BANK Nifty open at 22334
Made high of 22334 Open equals to high formed
and low of 21459 then
closed at 21679
which showed the Selling pressure on top and also
buying pressure from bottom

High to close - 655 points down from day's high
Low to close - 220 points up from day's low
i.e BEAR Power is 2.9X+ more than BULL power
BEARISH BIAS AS PER PRICE ACTION LET'S CHECK WITH OTHERS

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OPEN INTEREST ANALYSIS (20,august,2020)

HIGH OI strike CE - 22500
HIGH OI Strike PE - 20500
Next week remaining days Range Probability - 20500 to 22000

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CHANGE IN OPEN INTEREST ANALYSIS

High change in OI in CE strike as per Option data 22000 will act
as a Resistance

High change in OI in PE strike as per Option data 21000 will act
as a Support
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TECHNICAL ANALYSIS

Day basis trend line broken, Bank Nifty tried to sustain
above 22350 in last two days but failed and closed below 22000

Weekly basis trend line taken support still not broke wait for
break and sustain below it to sell check levels below in
conclusion part

CONCLUSION

If sustain above 22380 to move further to 22700/23000
other wise it will come down to 11100

If sustain below 21350 may fall further to 21000/20800/20700
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The Profit Patterns
**Educational Purpose only
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Dear followers,

--Wherever I used the word sustain means not only buy or sell the levels on single spike, and enter immediately.
--Sustain means price should need to spend on time in our buy or sell level, then only enter.
--My preferable sustain price on time atleast 1hr close basis, sometimes i prefer 30mins,4hrs,day basis here everything is flexible not a rigid.
--For Risk takers may choose any time frame under 1hr and others may choose 1hr and above time frame.
--Still confusing, no issue don't hurry to execute the real trade just do it in paper as a paper trade then start with real one
--Patience most important. Be patient and do the right things continuously the right one will come.
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The Profit Patterns
**Educational Purpose only
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LIKE & FOLLOW TO GET MORE TRADE IDEAS CHECK OTHER TRADE IDEAS