Nifty Bank IndexShort
Banknifty Daily Chart
Trade Setup
Short October Futures from the pullback level or current level.
High Volatility
Candlestick Chart
Renko Chart
Fake breakout of resistance at the level of 39011 and starts traded below the level.
Red bricks start appearing.
Heikin Ashi Chart
A long red candle is formed.
All recent lows are broken by this candle.
Conclustion
If the price starts its downward move, then it will test the levels of 36906.
Short October Futures from the pullback level or current level.
High Volatility
Candlestick Chart
- 25% move from 32290 (17 Jun 2022) to 39759 (19 Aug 2022)
- If we draw Fibonacci retracement for the same level then the 38.20% level comes at 36906.40.
- Macd - Bearish Crossover
Renko Chart
Fake breakout of resistance at the level of 39011 and starts traded below the level.
Red bricks start appearing.
Heikin Ashi Chart
A long red candle is formed.
All recent lows are broken by this candle.
Conclustion
If the price starts its downward move, then it will test the levels of 36906.
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