kiranrshinde

Banknifty Prediction Analysis Intraday Levels, 6 Aug

Short
NSE:BANKNIFTY   NIFTY BANK
Hello Traders,
Banknifty forming Head & Shoulder Pattern
Following are my analysis:

Resistance Level :
1. Good Resistance Zone at 36100-200
2. Strong Resistance at 36500
3. Stronger Resistance at 36000.
* Increasing resistance above 36000.

Support Level :
1. 35200-300 is Good Support Zone .
2. 35700 is a Good Support Level .
3. 35500 is Stronger Support Level .

No Trade Zone :
35670-35850

Trend Line:
Sell Below Both Red Trend Lines .

Head & Shoulder Pattern:
Watch-out for Breakdown of 35700 levels.

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

Comments

Excellent analysis. Would like to learn about chart reading although I understand but need thorough learning. It is possible for you to help me in learning the chart ..
+3 Reply
kiranrshinde Bigboom12
@Bigboom12,

Will try my best dear. Thank you for the comment.
+1 Reply
Around 10.15 am under 15 min chart grave stone Doji formed over 36000 lvl.matket slided towards 35800 and below
+1 Reply
kiranrshinde vishug1971
@vishug1971,

This is the same place or movement as indicated by me in above figure and explained in video as well.

Where were you so many days ?
Reply
Is Banknifty forming Bearish Flag-pole pattern in 15 mins time frame.
Keep eye on 35750 breakdown.
Reply