kiranrshinde

BankNifty Analysis 28/5/2021

Long
NSE:BANKNIFTY   NIFTY BANK
Hello Everyone,
Hope you all are fit and fine ... Stay Safe and Trade safe...!

What an Expiry ..! Bulls overiding Bears after 4 days ... and finally broke the Strongest Resistance at 35000.
What's next now ..?
I see a Big Rally Comming Soon of which the first Target would be 35500 , 36000.

BankNifty can Open Gap Up .... Tomorrow ...!

Resistance Level :
1. Major resistance of 35000 is broken and Price is sustained above 35000 close to 35100 .
2. Good resistance exists at 35100 to 35250.
3. Strong Resistance at 35500.

Support Level :
1. 34800 is New Strong Support level . Below it we have 34700.
2. 34500 has become Strongest Support Level .

Important Note :
1. The most imp part on 24th, at the end of the day we saw a Doji Candel .. What does it means ? ... A Trend Change ...
2. On 25th the Up trend was haulted with Bearish Engulfing Candel .. What does that mean now ? ... A DownFall ..as we already saw.
3. Again on 26th we had a Doji candel .. What does it means ? ... A Trend Change ... But was expecting a down trend to continue as the 35000 Resistance was huge one. And it was not easy to break down in one shot, as we saw today.
4. Today, what we see is a Large BULLISH Engulfing Candel ..what does it suggest ... Up Trend or Bullish Movement.

* Very imp point :
What happens when a major Resistance is broken ...? Next it act as a Support ...!
Keep in mind we still have a Small Resistance Zone between 35100 to 35250 .. So don't jump into the trade as market opens ... Let is take the Support of 35000 ...
If market Opens With a Gap Up of 200-300 pts then a Good Rally can be seen heading to 36000.

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

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

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Comments

hi im ur new follower actually ur good teacher im watching your post past 3 days and the prediction its helping me lot and ur motivation msg incomment section was encouraging me more ❤ .i was holding 34900 ce june 3rd expiry with 36k profit scared of tomorrow market. can i hold until 3rd june or exit tomorrow need ur suggestion thanx for encouraging us means alot
+2 Reply
kiranrshinde mageshvarma
@mageshvarma,

Thank you Buddy .. for sharing this publically ...

As i as say this not buy or sell recommendation service by me ... Profit and Loss is yours ...
I will suggest please go through my Intraday Levels post ... you will come to know ...
All the best.
+2 Reply
Do update bank nifty every day sir
Where I will check this
+1 Reply
kiranrshinde sbelandoor
@sbelandoor,

To get regular updates Regarding BnkNifty, you need to be a follower on mine, if you are then you will get a notification in Trading View, Bell Icon ..right side Menu Bar..
If you are not my follower and you wish to get regular Update which i post ... you need to Hit The Follow Button on my Profile that's it ...

One more thing, after Following me .. you need to post you thoughts/feedback/question/good or bad any thing about the post , my analysis or regarding your learning from the post .... Not a mandatory eveyday but try too post ... Only moto is that helping each other and learning from each other.

It's free to hit the like button and comment here ... no need to pay charges or subscribe to telegram or whatsup group or open any account under my reference link.

Also, if possible go through my previous post having comments, where you get some things if you are new trader or less experienced ..
Reply
Hi am newly joined
Nice to see your charts and really helpful
+1 Reply
kiranrshinde sbelandoor
@sbelandoor,

Thank you for the comment ...
i have posted another post for Same Day ... BankNifty Analysis 28/5/2021 IntraDay Levels ..with this name.
Please go through this and read the comments as well .. it contains the detail info about chart .. Some time it is not possible to show everything on the chart.
Reply
sbelandoor kiranrshinde
@kiranrshinde,
Sir where shall I see this info
Reply
kiranrshinde sbelandoor
@sbelandoor,

Click on My Username, My Profile page will open .. Click On IDEAS .. and scroll below to see all the post's/analysis ... Click on any post you want to go through ... below the chart .. i have explained the possible behaviour ...
Let me know if still you are not able to find ..!
Reply
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