Discover and read the best of Twitter Threads about #BNF

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Today there were few intraday opportunities to long and short in #BankNifty. Did you catch any? Plenty to learn from the charts today to catch both side moves. Analyze and let me know and I will help clarify your doubts.

#TradeWithPAL
Sharing my analysis for 9th Jan #BNF possible trades on #PriceAction:
1) Day started with a weak candle closing near the lows so 1st short was below the low of it. Target EMA21.
2) Price took little support & bounced back. You can scalp for quick profits here as well.
3) After that price couldnt sustain the upmove & closes below EMA21. Exit longs but no shorts yet until the recent low breaks convincingly.
4) It tried to break the low but not convincingly & we see a Doji shows weak selling & good buying pressure. Watch for next 1-2 candles.
Read 6 tweets
Be careful in #BNF shorts now.
27410 is 1st TGT for #BNF. SL below DL
Over and out in this quick trade.. Bought #BNF at 27345 & exited at 27430.15

Done for the day!

#TradeWithPAL
Read 3 tweets
1st signs of reversals at seen on lower TF in BNF. Let's wait to see if the retest happens at lower volumes. Post that if #PriceAction confirmation happens, one can go long. Till then wait patiently & enjoy your popcorn :)!
#BNF behaved 100% inline with #priceaction attributes. Did a couple of low volume tests and moved up smartly trapping bears who are selling on rise. Don't think like everyone, Think outside the box ;)
Here is the full analysis of this early reversal pick trade. Its important to know the context & background to understand what happened today in BNF. With RBI governor resignation & exit poll results (mostly not in favor of BJP) there was enough bad news in the market.
Read 15 tweets
Will try to put a small thread on a well known Open High Low Strategy
lets call it "OHL"
(1/n) #OHL
1st condition to be met is
(a) Open = High
(b) Open = High = Previous Close

or

(a) Open = Low
(b) (b) Open = Low = Previous Close

(2/n)
Different time frames have different interpretations Higher the TF higher the accuracy for eg a qtrly OHL will be more powerfull singal then monthly or smaller TF daily signal would be much relevant then an hourly signal !!

swill talk only about daily / weekly / monthly

(3/n)
Read 17 tweets

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