BankNifty - March Weekly analysis
Updated
Hey guys!
In a 15 mins chart bank nifty has formed a double bottom pattern at the support which was very crucial. Basically Double bottom is formed when there are buyers waiting at the lower area which faced the rejection and that acts as a support. When the upper resistance is broken it is assumed that it will go up untill the size of the pattern (Double Bottom) is not achieved.
Price range and levels are marked in the chart. Analyse it and ask me through comment if there is any doubt.
Buy when a 5 min candle sustain above the resistance of 34340 and make sure the next candle break the High of previous candle.
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See my previous analysis also.
In a 15 mins chart bank nifty has formed a double bottom pattern at the support which was very crucial. Basically Double bottom is formed when there are buyers waiting at the lower area which faced the rejection and that acts as a support. When the upper resistance is broken it is assumed that it will go up untill the size of the pattern (Double Bottom) is not achieved.
Price range and levels are marked in the chart. Analyse it and ask me through comment if there is any doubt.
Buy when a 5 min candle sustain above the resistance of 34340 and make sure the next candle break the High of previous candle.
Please share this analysis and like and follow me for support
See my previous analysis also.
Order cancelled
Cancelled because 5 min candle doesn't broke the resistance of 34340
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