Technical Analysis and 3 Strategies to deploy for Aggressive, Moderate, and Conservative Traders.
🧵 Weekly Bank Nifty Analysis for 8th December Expiry:
To form a view, let's have a look at:
1. Multi-timeframe Technical Analysis
2. Option Chain Data
Also, 3 strategies to deploy for:
1. Aggressive Traders (2.6%)
2. Moderate Risk Traders (1.3%)
3. Low-Risk Traders (0.8%)
Let's start by doing some basic technical analysis.
We'll look at:
• Weekly charts.
• Daily charts.
• Hourly / 60 min charts.
• 15 min charts.
• The market has given 4 continuous green closes, so not expecting a big momentum on upside.
• This week my view is that it can take a pause.
• Longer term trend is super bullish.
• Any dip will towards 41800 will be a retest, and should be used to go long.
• Candlestick pattern—Hanging Man
• Chart Pattern—Breakout Failure
• A pin bar candle is very powerful but only after a downmove.
• Here it forms near the top of upmove.
• Means some sellers are present. Below 43000 can sell calls above 43600 for the week.