Hello
A new dairy to jot down my views on swing trading Bank Nifty on 15 minutes time frame with a perspective from daily charts. . .
On the daily time frame chart, BNF Long Trend started way back around mid Feb . . .
Currently we can say it is in a sideways consolidation or distribution phase
If it is consolidation/continuation or distribution/reversal, time will tell . . .
I will be using the level 12500 for that decision, the level is on closing basis using daily time frame.
For now, looking only for Longs, but when/if the 15 mins charts show strength,
as the 15 minutes is far too bearish, all rallies are being sold into,
so we are in nothing doing mode . . .
Yesterdays closing rally gave hope, today's open and opening bar on 15 minutes, dashed all those hopes ,
so we are back to do nothing mode . . .
Shorter time frames could go merrily short but for this one with daily perspective it has to be . . . . . wait and watch . . .
Happy
A new dairy to jot down my views on swing trading Bank Nifty on 15 minutes time frame with a perspective from daily charts. . .
On the daily time frame chart, BNF Long Trend started way back around mid Feb . . .
Currently we can say it is in a sideways consolidation or distribution phase
If it is consolidation/continuation or distribution/reversal, time will tell . . .
I will be using the level 12500 for that decision, the level is on closing basis using daily time frame.
For now, looking only for Longs, but when/if the 15 mins charts show strength,
as the 15 minutes is far too bearish, all rallies are being sold into,
so we are in nothing doing mode . . .
Yesterdays closing rally gave hope, today's open and opening bar on 15 minutes, dashed all those hopes ,
so we are back to do nothing mode . . .
Shorter time frames could go merrily short but for this one with daily perspective it has to be . . . . . wait and watch . . .
Happy