Kinnari_Prajapati
Long

Seek first to understand what is going on BankNifty

NSE:BANKNIFTY   NIFTY BANK
Seek first to understand what is going on BankNifty , to be ready put order.

  • The price is trading value low which is always good for a long entry.
  • If there is neither any news nor wrong, the control price will attract the value towards it
    .

At the excess, traders can take a long position with stop loss as a comfortable risk for the target at 30800 above.


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Comment: We have caught exact Turn of bank and nifty too.
What happens when the value low and support is also broken? Does that make changes to trend lines? As Support broken now becomes resistance, but I know for a fact that market will always retest broken supports levels to see if any buying is coming through if not then further downside room open!!!
+1 Reply
Kinnari_Prajapati neelimapitroda
@neelimapitroda, Generally breaking "value high" or "value low" happens whenever a change in the strongest fundamental, news, etc. Otherwise, a price come back to the normal fair value area after overacting. In case of breaking value low and create a normal excess will push price again in fair value. but it's not an excess then, it creates spike with volume and initiative move and later on you will get a responsive move again create new fair value. I will give you a real-time example later.
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neelimapitroda Kinnari_Prajapati
@Kinnari_Prajapati, Hi again, The example you referred to earlier (New fair Value) is it playing out now in bank nifty?
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all supports breached or still in the game
+2 Reply
nice analysis
+1 Reply
@rupambose32, thanks, i ll try best.
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didn't expect the reversal so fast!!! I was expecting expiry to end on a low, and tomorrow to rally towards the high again.
+1 Reply
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