1.There is back to back 6 red candles and a breakdown. 2.After fall it retested trendline support and again a red candle on testing with resistance 354890. 3. On monday Market may open gap down breaking the major trendline support and will 1st test the 34970 levels and then move to gap filling procedure and may be RED whole day. 4.Also today it seems like the new insurance premium news didn't work out in market which leaded banknifty closing in RED. 5.Levels to note 35275 to 35200 may be the opening price. 34970 strong support definitely not gonna break in one go. 6. On daily time frame it has made symmetrical pattern but most imp is 1HR time frame with restest of resistance after breakdown clearly shows bearish signal.
kakerot i am expecting sensex 1 lkh in coming next 5 years if FII flow continues.😉😉
Kakerot
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even though i will be shorting with a safe hedge, i am getting a bad feeling that due to US stimulus clearing 1400$ which is about 6 months worth of check which Americans got back in 2020, i am seeing another trap set by FII's selling and soon the new money flooding US market will start leaking or with full force to another market like india, you can believe it or not, no technical will save in front of liquidity, NIFTY will go 17000 and Bank NIfty will easy reach 43000 level by year-end, the question is will the correction come 1st or not
@akshat-w, yes it is as as per the growth of the india the stock markets are targeted to reach 1lakh in end of 2021 or may be a ahead so consider this as a small correction cause by technical analysis as market is up from oct 2020 and well there is covid lock down news also. so iinvest in stocks when you see a dip