BankNifty important levels to watch are as follows
#Support: 44620
Sell below: 44620 only on 15 minute candle closure below the level.
Target 1: 44550
Target 2: 44430
Target 3: 44320
#Resistance: 44735
Buy Above: 44735 only on 15 minute candle closure Above the level.
Target 1: 44800
Target 2: 44925
Target 3: 45000
#Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital.
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#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
#Support: 44620
Sell below: 44620 only on 15 minute candle closure below the level.
Target 1: 44550
Target 2: 44430
Target 3: 44320
#Resistance: 44735
Buy Above: 44735 only on 15 minute candle closure Above the level.
Target 1: 44800
Target 2: 44925
Target 3: 45000
#Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital.
Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
#If you are Unable to trade properly and dissatisfied with your manual trading results due to busy schedule or "Fear & Greed" emotions Algorithmic trading can be the most useful solution kindly follow us and join us using details mentioned below the idea.
#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
Comment:
as explained in the idea description each target may act as an individual support or resistance, So currently, 44550 is acting as a strong support. For agressive short entries wait for candle closing below 44550.
as explained in the idea description each target may act as an individual support or resistance, So currently, 44550 is acting as a strong support. For agressive short entries wait for candle closing below 44550.
Comment:
and breakdown, Just look at the candle. this is what perfection. Follow us for more such insightful ideas. Do join us for Fully automated algo trading.
and breakdown, Just look at the candle. this is what perfection. Follow us for more such insightful ideas. Do join us for Fully automated algo trading.
Comment:
Target 2 on downside has been achieved successfully.
Again, As explained in idea description, Target 2 is also acting as a support.
Target 2 on downside has been achieved successfully.
Again, As explained in idea description, Target 2 is also acting as a support.
Comment:
Current scenario for banknifty. If banknifty manages to break 44425, we may witness huge downfall again.
Current scenario for banknifty. If banknifty manages to break 44425, we may witness huge downfall again.
Comment:
The chart says it all ...price moved as directioned marked on the chart.
Almost achieved third target too after break of support positioned at target level 2.
The chart says it all ...price moved as directioned marked on the chart.
Almost achieved third target too after break of support positioned at target level 2.
Comment:
Target 3 hit !!
Target 3 hit !!
Comment:
what do you guys think, why the price takes support and bounces back a little at each target even if the trend is negative ?
Hurry up, answer in comment section.
what do you guys think, why the price takes support and bounces back a little at each target even if the trend is negative ?
Hurry up, answer in comment section.
Comment:
All Targets hit
All Targets hit
Target 1 achieved !