Niftybank
NIfty buy on DipsLast week Nifty was in consolidation mood which went on till yesterday's expiry.
The stop loss for NIfty was 11750 (spot prices), so adding to previous long positions was done.
Now looks like NIfty has taken U turn from 11800 itself and no more adding to longs will be done.
Right now it is Buy on Dips for Nifty
Bank Nifty Intraday Setup for Expiry day November 7 2019Regrading Bank Nifty Index : Yesterday Index has made a new high (30699) almost on their resistance Level (30805). Remember Today is Weekly Expiry and Sentiment is Already on here Because Govt sets up Rs 25,000 crore alternative investment fund to revive realty sector.
News Can find here : economictimes.indiatimes.com
Remember Housing Project direct Connect with Banking Sectors and can affect directly.
Trade Setup : Gap up Opening is possible Today. As an Intraday Trader and a tech Analyst I will not jump in battle without proper preparation. We will follow our Gap up and Gap down strategy and keep notice to Bank Nifty Resistance Area . 30805 then 31600