we have a long time trend line res: at 19980 , it can go there also, but it is not the way , i approach the target level, unless i see an extreme bull market, i cannot sat higher target.
look at the indicators turning bullish, but notice that , they are all under bearish zone
Eg: the macd is below zero line
@venkaticr,
External influences like an election, a result session, or drought, rain, inflation etc. will definitely have impact on market, can give you a hint on direction, but not target levels.
And the indicators will help us defining the strength of force and direction.
Price levels can be calculated based on technical, like pivots, Fibonacci or wave extension levels, but not to be precise and definite, means it can varies depends on situations.
Same way Support & resistance can also be calculated from, a moving average, a trend line, pivots etc:
Here I expect BankNifty to go up further up, and next resistance will be 19493, as long as it trade above 18500 this resistance become a support now.
look at the indicators turning bullish, but notice that , they are all under bearish zone
Eg: the macd is below zero line
@venkaticr,
External influences like an election, a result session, or drought, rain, inflation etc. will definitely have impact on market, can give you a hint on direction, but not target levels.
And the indicators will help us defining the strength of force and direction.
Price levels can be calculated based on technical, like pivots, Fibonacci or wave extension levels, but not to be precise and definite, means it can varies depends on situations.
Same way Support & resistance can also be calculated from, a moving average, a trend line, pivots etc:
Here I expect BankNifty to go up further up, and next resistance will be 19493, as long as it trade above 18500 this resistance become a support now.