Technical Analysis and 3 Strategies to deploy for Aggressive, Moderate, and Conservative Traders.
🧵Weekly Bank Nifty Analysis for 7th July Expiry:
You'll learn multi-timeframe technical analysis for the current week from this thread.
Also, there are 3 strategies one may deploy according to their risk appetite:
1. Aggressive Traders (1.6%)
2. Moderate Risk Traders (0.93%)
3. Low-Risk Traders (0.6%)
1. Technicals
Let's start with the technicals. We'll look at:
• Weekly charts
• Daily charts
• Hourly/60 min charts
• 15 min charts
1. Weekly-
• The past 2 weeks indicate buyers have entered and are trying to lift the market up.
• These buyers would be under stress if the last week's low of 33080 breaks on the downside.
• Till that low doesn't break, those buyers are going to be in control.
2. Daily:
• If we get a daily close above the 34150 level, a higher high (HH) will be formed, and I would be very bullish on the markets.
• Friday's candle is a big green candle, and if it's low breaks then I would be bearish.
• There is no clear and obvious pattern yet.