GomathiShankar

BNF VIEW FOR JULY LAST WEEK

NSE:BANKNIFTY   NIFTY BANK
Long above resistance; Short below support; Gap is yet to be filled; Expecting a range bound

Comments

Bank Nifty has narrow weekly CPR for next week. I'm anticipating trending week. BNF is struggling to close above Monthly R1 on Weekly Chart. Let's see will it breakout Monthly R1 or Reverses to Monthly CPR.
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@amallavr, Global indices participation + Indian market particularly banks ( face to face) business participation, but i think it is going to be a downside as virus cases hitting our economy, as of only reliance is the flag bearer for nifty as well once it gives up market will fall (just an opinion)
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amallavr rahulsharma198605
@rahulsharma198605, True! Everybody knows that currently markets are divergent with reality. But markets always be ahead of current situation. Most of the people are presuming markets are in bubble stage. Whatever the case I don't bother about these speculations because I just follow price action. Price itself speaks everything. If something is wrong/right then it will definitely reflect in price. So let's follow price action and take trades with proper risk management. That's all we(price action) people do. :)
+2 Reply
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