subhagghosh

Expiry Special Analysis for 6th Aug'2020.

NSE:BANKNIFTY   NIFTY BANK
OI down by 1.39% and price up by 0.09%, shows FNO neutral setup and Doji formation on the daily chart shows indecision.

Today fall from 11:15 to 12:15 is due to shorting & long unwinding, long unwinding is a thing of worry.

Today is the second day in we made lower low (21,449) and higher high (21,933)

4th Aug LL:21,065 and HH:21,574
29th July to 3rd Aug:-
LH: 22,346/22,253/21,807/21,544
LL: 22,906/21,580/21,375/21,031

Today's high is 68.5% of the last wave of fall.

Decision Zone 21,449- 21,651

I posted yesterday "Pullback till 21,865 / 22,122/22,380 might be on cards till 20,065 holds."

Today's high was 21,933 was a swing high.

I won't make positional short until #banknifty closes below 21k or might be at much higher levels above 22k (where I will post).

Broadly speaking:- 21,000 to 23,000 is the range and below 22,000 we have negative & above positive.

Comment: At 12:55 PM , #banknifty trying to break the upside of the falling channel.
Comment: Price retracing back to the channel and 15 min candle, reversal pattern detected (shooting start), PDH 21,933 is resistance now.