HDFC Bank / BankNifty - The Giant Cracks & Index Melts 4000 +
Disclaimer:
This is for informational purposes only and is not a solicitation or offer to buy or sell any securities or products.
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Recap from 25th Sep 2024
Giant Crack Alert: BankNifty’s drop from 54,467 on 26th Sep 2024 to 50,194 by 7th Oct 2024 got its hint from the HDFC idea published on 25th Sep. When a giant like HDFC cracks, imagine the shockwaves across the entire index!
HDFC - Will it take U-Turn from 1800 — Indeed It was giant crack from 1788
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Short Term
Strong Support Zone
50900-51000 - Avoid taking any buy or long positions below 51000 . Safe Traders to Buy if Index crosses above 51356 & holds above. Risky Traders can look for buying opportunities until Index holds above 51000 or drops close to 51000
Minor Resistance
51925 - 52050 is the minor resistance zone so any bounce upside holding 51000 can halt in this zone & crossing above 52100 - It can push towards strong resistance zone 52900-53100
Strong Resistance
52900-53100
Wishing You A Happy & Prosperous Diwali 2024
From WaveTalks
Abhishek
This is for informational purposes only and is not a solicitation or offer to buy or sell any securities or products.
--------------------------------------------------------------------------------------------
Recap from 25th Sep 2024
Giant Crack Alert: BankNifty’s drop from 54,467 on 26th Sep 2024 to 50,194 by 7th Oct 2024 got its hint from the HDFC idea published on 25th Sep. When a giant like HDFC cracks, imagine the shockwaves across the entire index!
HDFC - Will it take U-Turn from 1800 — Indeed It was giant crack from 1788
---------------------------------------------------------------------------------------------
Short Term
Strong Support Zone
50900-51000 - Avoid taking any buy or long positions below 51000 . Safe Traders to Buy if Index crosses above 51356 & holds above. Risky Traders can look for buying opportunities until Index holds above 51000 or drops close to 51000
Minor Resistance
51925 - 52050 is the minor resistance zone so any bounce upside holding 51000 can halt in this zone & crossing above 52100 - It can push towards strong resistance zone 52900-53100
Strong Resistance
52900-53100
Wishing You A Happy & Prosperous Diwali 2024
From WaveTalks
Abhishek
Best Regards,
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
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Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.