Logics behind the analysis
1. Bank Nifty is in strong bullish momentum
2. This scrip has shown strong bullish run in recent times thus it's a momentum based trade (just like
in traders language "Trend is your friend")
3. Post strong bullish run it's in a rest mode now (profit booking) and therefore it's
ranging/consolodating
4. Bigger the consolidation breakout with a bullish engulfing candle higher the chances of further
bullish run
Now, for conservative traders - they can book their profit at Tgt level 1 and those who wish to continue further long can keep trailing stop loss at the entry point
SL level - below bullish engulfing candle (just below the wick)
Impt remark - Dont risk more than 2-3% of your fund in a single trade and don't let emotions takeover your logical mindset, remember "cut the losses short"
Thank you
Finntastic Trades
1. Bank Nifty is in strong bullish momentum
2. This scrip has shown strong bullish run in recent times thus it's a momentum based trade (just like
in traders language "Trend is your friend")
3. Post strong bullish run it's in a rest mode now (profit booking) and therefore it's
ranging/consolodating
4. Bigger the consolidation breakout with a bullish engulfing candle higher the chances of further
bullish run
Now, for conservative traders - they can book their profit at Tgt level 1 and those who wish to continue further long can keep trailing stop loss at the entry point
SL level - below bullish engulfing candle (just below the wick)
Impt remark - Dont risk more than 2-3% of your fund in a single trade and don't let emotions takeover your logical mindset, remember "cut the losses short"
Thank you
Finntastic Trades