MyKEYtoSENSEX

Banknifty view for 27/11

NSE:BANKNIFTY   NIFTY BANK
The bullish spinning top and long lower shadow pattern has been formed in the weekly and daily chart respectively.
So it can be said that trend reversal is not confirmed yet.
Again we have to see another two session.

Bank Nifty may trade in the range 29060 -30060
Decision Level :29460 Above & below :Bullish & Bearish .

Above 29460 : 29597/29732/29860/29938/30060
Below 29460 : 29360/29262/29165/29060


1st level to watch out : 29597 for upwards
: 29360 for downwards


Disclaimer: Ideas for learning Only.

Learn Regularly. Not occasionally.
Comment: Bearish Engulfing = Gap UP Then Down again UP
Bullish Spinning Top = Gap DOWN Then UP again Down ???
:)
Comment: above 29760 some short covering possible.
Otherwise it may go downwards upto 29060

Comments

one interesting setup- usually when bearish engulfing is taken out , next day is slight GAP UP that was yesterday.. and then a big rally till the start of bearish engulfing candle... that is today. Let us see
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Very nicely explained. I like it very much.Thank u so much.
Reply
Learner_ Learner_
it got stuck in a trading range today

Reply
yes
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