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As predicted in previous analysis, BnkNifty Open Up with small gap and was in Sideways rest of the day.
Resistance Level :
1. 35000 is immediate Strongest Resistance level .
3. Good resistance exists at 35500 and Strong Resistance is developing from 35000 to 35500.
Support Level :
1. 34500 is Strong Support level .
2. 34000 is next Good Support Level .
Sideways Possibility :
80% chances of sideways market, between 34500 and 35000 .
Trend Line :
Voilet Line - Blue Line : Sell Below Voilet Trend Line and Blue Trend Line, till Big Green Support Line .
Green Line : 1. Sell Below Big Green Support Line at 34500 if broken by large volume and price sustains below it for atleast 5 min.
2. Buy Above Big Green Support Line at 34500 when you see a revarsal, as you saw in the morning
* Voilet Line a New Resistance forming in next half of the Day will play an important role tomorrow, trade safe near it.
Important Note:
Need large volume to break 35000.
As the Resistance is building strong at 35000 level it seems that at least for first half market would be in down and sideways.
*Imp Note :
Support and Resistance Marked keeps on changing as the day progresses and new trader joining.
Strong Support and Resistance will act atleast for first half and may be broken with large volume .
Try to Sell Options, time decay benift you will get.
This is not Buy and Sell recommendation to any one.
This is for education purpose and a helping hand to all retail traders to learn Market.
I hope you all like my analysis.
Please do share your thoughts into comment section.
Please hit the Follow button to get the regular analysis.
Please give a like, it motivates me to do analysis and do share with your friends as well.
Hope you all are fit and fine ... Stay Safe and Trade safe...!
As predicted in previous analysis, BnkNifty Open Up with small gap and was in Sideways rest of the day.
Resistance Level :
1. 35000 is immediate Strongest Resistance level .
3. Good resistance exists at 35500 and Strong Resistance is developing from 35000 to 35500.
Support Level :
1. 34500 is Strong Support level .
2. 34000 is next Good Support Level .
Sideways Possibility :
80% chances of sideways market, between 34500 and 35000 .
Trend Line :
Voilet Line - Blue Line : Sell Below Voilet Trend Line and Blue Trend Line, till Big Green Support Line .
Green Line : 1. Sell Below Big Green Support Line at 34500 if broken by large volume and price sustains below it for atleast 5 min.
2. Buy Above Big Green Support Line at 34500 when you see a revarsal, as you saw in the morning
* Voilet Line a New Resistance forming in next half of the Day will play an important role tomorrow, trade safe near it.
Important Note:
Need large volume to break 35000.
As the Resistance is building strong at 35000 level it seems that at least for first half market would be in down and sideways.
*Imp Note :
Support and Resistance Marked keeps on changing as the day progresses and new trader joining.
Strong Support and Resistance will act atleast for first half and may be broken with large volume .
Try to Sell Options, time decay benift you will get.
This is not Buy and Sell recommendation to any one.
This is for education purpose and a helping hand to all retail traders to learn Market.
I hope you all like my analysis.
Please do share your thoughts into comment section.
Please hit the Follow button to get the regular analysis.
Please give a like, it motivates me to do analysis and do share with your friends as well.