Kinnari_Prajapati

BankNifty, How can you IDENTIFY break on it?

Short
NSE:BANKNIFTY   NIFTY BANK
There're a few things to consider in order to IDENTIFY an up-breakout here. Such as Volume and Price change, Previous Resistance, News, etc.

I have points out few from the charts.
Previous Resistance is at 27777.
Trading in small range is also important for a breakout.

In the TradingView.com, is not showing Volume so that i can give some steps to identify flow of demand and supply.
suppose to increase price with huge volume can be up break out.
volume increasing without raising price can be profit booking.
Well, as per my prediction there lot of chance to stay in small range for BankNifty if stable volume .

Wait for changing huge volume and price.
COALINDIA is good for seller.


Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.