kiranrshinde

Banknifty Intraday Level Analysis 22 July

Long
NSE:BANKNIFTY   NIFTY BANK
Hello Traders,
Following are my analysis:
Resistance Level :
1. Good Resistance Zone exists at 34600-800
2. Strongest Resistance at 35000 .
3. Stronger Resistance at 36000
4. Strong Resistance at 34500.
* Increasing resistance above 35000.

Support Level :
1. 33500 is Strongest Support Level .
2. 34000 is a Strong Support.
3. 34200 is Good Support.

Sideways Possibility:
More Sideways above 34500 to 34800 , if market sustains above 34500.

No Trade Zone:
34350-34500

This is not Buy and Sell recommendation to any one.
This is for education purpose and a helping hand to learn trading in Market.

I hope you all like my analysis.
Please do share your thoughts into comment section.
Please give a like, it motivates me to do analysis and do share with your friends as well.

Comments

Ur posts for last 3 r days looks very defensive
Like with not any clear and confident idea
+1 Reply
kiranrshinde harishpkv
@harishpkv,

Thank you for the comment...

Could you please explain more, why do you feel that last 3 posts are very defensive ?

I know that, market reacted very differently in last 2 days from what i have analyzed.. it can happen .. right ? No one can predict 100% correctly and what would be the exact impact on Indian market.
Our market is emerging strong and behave very weird, sometime it stands tall even if global market is down and sometimes it fall along with global market.

From my experience, what i have learned is Do not try to be aggressive with market, it will wash you out rather follow it or go with hand in hand.

One more thing, see many people are following each other and also me, my preference is to help them from loosing their money into the market.
There are so many of them who believe blindly and trade, in such case even if my analysis is defensive it will protect them from loosing money.
If i am not confident about some thing then i do not prefer to post as followers may go into loss, just to give an example i do post regarding Gap Up/Down when i am confident.
Also, in my analysis videos i do ask/say, do not follow only my analysis as it may be wrong as well or look for other analyst as well to get the knowledge,
but finally i insist you all to trade based on what you have analyzed from different analysis and Following the market.

I hope you are watching my analysis videos.

Golden Rule for Trading:
Before taking trade think of SL i.e. how much you can afford to loose, profit is unlimited if your trade is right.
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