protrader1969

BANKNIFTY for 1st January 2020

NSE:BANKNIFTY   NIFTY BANK
That banknifty and Nifty are looking to fall was clear yesterday, but I couldn't comprehend that the fall would be so severe that it would demolish 12200 so easily. As I wrote in my post on NIfty , Nifty formed an evening star pattern and now hence looks like it will start going down bit by bit. Banknifty has not formed any such pattern but finished as a strong red candle. So what I said yesterday in my video post on youtube under channel name Market Movers India, which I post everyday, is turning out to be true. Though in last one hour or so, Nifty's fall was more pronounced and BNF was trying to recover. On 15 min chart, I have marked a selling area whose levels coincide with Nifty . So take 'Sell banknifty' trade when Nifty too approaches its selling area.
All the best. Happy trading.
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.