BankNifty is Ready For a Big Breakout
41825 is a crucial resistance tested 3 times. It is always said that the more touches to a particular resistance, the more changes become for its breakout. Heare everyone's eyes are on all time high which is now seems very close. The good part of story is that the consolidating prices just below the resistance.
It is my favorite setup where small consolidation is placed just below a crucial resistance the more prices stays here the more changes it will be for a big big breakout upside. Key thing in focus
1) FED meeting is over (Market digested the uncertainty)
2) Monetary policy is today 3 nov. (Weekly expiry is also there)
3) The banknifty is in a consolidation phase for 1 year , so the breakout will initiate a fresh buying
Note : Upside targets will be different for different players.
It is my favorite setup where small consolidation is placed just below a crucial resistance the more prices stays here the more changes it will be for a big big breakout upside. Key thing in focus
1) FED meeting is over (Market digested the uncertainty)
2) Monetary policy is today 3 nov. (Weekly expiry is also there)
3) The banknifty is in a consolidation phase for 1 year , so the breakout will initiate a fresh buying
Note : Upside targets will be different for different players.
Comment:
same setup was of Titan if you can remember see this idea
