Nifty Bank IndexShort
BANKNIFTY Corrected 4000 points Weekly chart ANALYSIS
Hello Everyone,
as posted charts on 29th september,
Banknifty Rejection Candle from Channel Resistance line, RSI negative Divergence, Price is more than 3000/4000 point away from EMA 20& 50____After every trending move Price is reverse to its EMA line___Positional Sideways to small correction can expected.
now its corrected 4000 points and near to 50EMA but till looking weak if going to test 100EMA then 3 things going to happened 1st 100EMA test second 61% retracement done and breakout trendline retest possibilities as ahead of elections and USDINR is trading at its lowest of 84.40
indicate more volatality in near future. 49300, 48650,47500 is possible and important levels to watch
as posted charts on 29th september,
Banknifty Rejection Candle from Channel Resistance line, RSI negative Divergence, Price is more than 3000/4000 point away from EMA 20& 50____After every trending move Price is reverse to its EMA line___Positional Sideways to small correction can expected.
now its corrected 4000 points and near to 50EMA but till looking weak if going to test 100EMA then 3 things going to happened 1st 100EMA test second 61% retracement done and breakout trendline retest possibilities as ahead of elections and USDINR is trading at its lowest of 84.40
indicate more volatality in near future. 49300, 48650,47500 is possible and important levels to watch
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