BankNifty Analysis 31/5/2021

Hello Everyone,
Hope you all are fit and fine ... Stay Safe and Trade safe...!

As predicted in my previous analysis about the Possible No Trade Zone ... between 35100 to 35300, most time of the day BnkNifty continued to trade in those levels.

BankNifty can Open Flat/Neutral .... Tomorrow ...!

Resistance Level :
1. Good resistance exists between 35100 to 35250.
2. Strong Resistance at 35500.

Support Level :
1. 35000 is Good Support level
2. 34400 is next Support Level .

Important Note :
Take a look at Red Circle Highlighted ... what it point outs?
What happens when a major Resistance is broken ...? Next it act as a Support ...! ...e.g 35000
Keep in mind we still have a Small Resistance Zone between 35100 to 35250 .. So don't jump into the trade as market opens ...

This is not Buy and Sell recommendation to any one.
This is for education purpose and a helping hand for Retail Trader who are new to Market.

I hope you all like my analysis.
Please do share your thoughts into comment section.

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Hai kiran sir,eagerly waiting for your analysis point of view. As you are the best motivator also by giving mental strength to your followers that makes one to realize the loss and move forward.sir will you please explain if possible ,how to identify the price break out either its upside or down side.
+1 Reply
kiranrshinde akbhagyalatha

Thank you for the comment.

You have asked the perfect question at right time...

It's my kind request to all the followers to watch the Detail Video of Intraday Levels, where i have explained in short the Ascending triangle and its possibility of Up Ward Breakout.
This is why i have been telling you guys to go through the basics .. Learn ....what i have said in the comments.
In one of the post i had specified you all to atlaest learn following things :
1. CandelSticks -- different types.
2. Pattern Formation -- most important for Breakout.
3. Support and Resistance.
4. TrendLines.

Do not miss guys ..its of great learning.

It becomes difficult to explain few things on Chart and describing it in the comments, where it becomes easy in the video to point on the chart and describe.
Going forward i will be posting videos for Intraday levels.

Do support me on Youtube and If you like please Hit the Like and Subscribe button to get daily analysis and Share it with your friends ....

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Thank you.
akbhagyalatha kiranrshinde
@kiranrshinde, sir ,please send your YouTube channel link .
+3 Reply
kiranrshinde akbhagyalatha

Click on my Username kiranrshinde or The BankNifty Only Logo of TradingView ... You will be redirected to My Profile page ... Just below my Username will be able to See Twitter symbol and next to it Youtube Symbol with Name BankNifty Only .. Click on It and Subscribe ...

You have already Subscribed...Thank you.
I think there is problem with Youtube Account ...will keep you posted.

Issue is resolved now..
abhirocks1983 kiranrshinde
@kiranrshinde, sir, plz share the youtube video link.
+2 Reply
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