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Trend:Bearish

Nifty bank :Cmp :27453

Sell below :  27200

Target :26200

Hedging option : Sell put of   26500 feb at 300 ( Once nifty bank touches 27200 rate will change from  256 to 300)

SL: 27800

MAX  PROFIT: 20*1000= 20000

MAX LOSS: (20*400)=8000

 

 

  • Rising wedge formation
  • RSI strong divergence on Daily chart .
  • Resistance level hanging man and bearish belt hold candle
  • Confirming downtrend once violation of 27200 take place .

 

 

 

 

 

 

 

 

 

 

 

 

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