BANKNIFTY Don't overlook the BLUE channel, which is still active

The Gravitate price is being played such as magnet which has a yellow color with a number (0) to (8). If you see it closely from left (0) to (8).

We have seen selling and profit booking with high of 30058 which is also written by me. price is going to hit at "blue-channel-line" which is the point at 29387.

I have written yesterday: Don't overlook the BLUE channel, which is still active. Therefore, the blue support line pushes BankNifty price to upside 29387 nearby.

Click here
to see more about yesterday what I said.

  • Formed bearish candle which resembles a 'Dark Cloud Cover' on the daily chart .
  • The important event of next month.

Below conclusion is from the daily chart:
If weekly close makes slightly higher then today price the continuation of the trend is possible till 32500
any reversal on daily one can look for a fresh entry for next move up.
Daily chart credits go to @I-Fund-Trader


@Kinnari_Prajapati powerful Charting. You must advise Jegan & PR Sundar, the famous BankNifty players and don't forget us too. I'm awaiting your books or Websites recommendations.
+5 Reply
@atrehan, When I entered into the market first read book was by John J. Murphy and later I read a total of 22 books which all are comprehensive.

1. Market Wizards is a book written by Jack D. Schwager
2. Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications Hardcover by John J. Murphy (Author)

I will suggest other books. but these both interesting books and few are little tough which is belong Bloomberg theory.
+6 Reply
atrehan Kinnari_Prajapati
@Kinnari_Prajapati, many thanks. I'll follow the 2 mentioned and practice as Practice is the best teacher. And of course follow your Charts. Many thanks again.
@atrehan, Market Wizards is a fantastic book and while the reading you will feel like a story so, first I suggest you to read it. This book provides you infinite strength in the stock market. personally and honestly speaking, I have read it 2 times.
Your buy ban nifty call was super, i had bought option of 02 may 30000 @78 and throw it as your target in telegram at 157. Very fine call.
I am still holding your NIFTY future bought @11638 as per you telegram call. you mentioned target but you said here it can move more if recovery. Your tata steel future, maruti futre, all have traded today. I am huge profit. i want to talk you about donation. kindly tell me how can i contact you.
I am little bit confused, should i sell banknifty or wait and buy at support?