Kinnari_Prajapati

BankNifty at support of channel while Nifty is -ve.

NSE:BANKNIFTY   NIFTY BANK
  • Banknifty also difficult to understand as wave movements.
  • Price is near the channel support.
  • Smaller positive new can boost banknifty to upward from the value low.

While nifty is weak and Banknifty is positive which indicate the direction is not clear and market waiting for news.
Trade active:
I am also going to smaller timeframe to get more confident for the way.

We detected 5 channels in recent created.
After breaking the channel, we have seen a minimum 1000 points move.

We are standing at the ending of the channel, ready for minimum 1000 points move.

Considering this, you will find two Flag Patterns which are indicated by a black line with an arrow. If you observe closely flag-pattern (i) and then you can clearly see a picture of the future if not wrong anything.
Trade closed: target reached
brought 29200 PE @159.50 can i expect actleast 170
+1 Reply
Hi Madam, When will the uptrend start for banknifty any analysis from what levels .Can we go for Call option???
Reply
Kinnari_Prajapati jinupappachan45
@jinupappachan45, Yes you can with good when the price of banknifty come to support level as mentioned in the chart. But risk and reward should be great.
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jinupappachan45 jinupappachan45
@jinupappachan45, hi I have bought 32k CE at 180 and its expiry is on 29 Aug can I expect it to reach 31 or 32k in Aug please help
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Kinnari_Prajapati jinupappachan45
@jinupappachan45, There is still not any base for that target.
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Superb analysis, as always - anyway we can have a private conversation? I came up on this very simple vwap strategy & wanted to discuss with you if the same would work on indices.
+2 Reply
@sadhusaheb, You can send me Private Message and Thanks for appreciating my work.
+1 Reply
nice
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@umesh4001, thank you
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An Absolute evidential in depth perception . Which components will lead the move , HDFC & ICICI ??
+3 Reply
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