Welcome back for another video where I will discuss with you about the important levels of bank nifty and how we can trade it effectively in the coming week.
As you can see, this whole range of 39,500 to the levels of 37,500, a 2000 point range and it has been moving in this range for around three or four weeks now.
A lot of short sellers might be trapped because the market gapped up the next day and it is now consolidating near the resistance area.
A little bit of indecisiveness for some time. You just have to wait and watch as to how the market reacts at this point of time.
Important resistance area is the levels of 39,600 which has been tested multiple times now, and the market is consolidating near it.
Classical technical analysis tells you that consolidation near resistance area, gives you a sign that the market might break to the upside.
A market closing above the levels of 39,600, might quickly go to the next resistance area of 40,500.
A thousand point range will be covered in a very short span of time because it's a clear zone.
If I have provided any sort of value, just like this video and support my work.
Feel free to post your thoughts in the comments section.
As you can see, this whole range of 39,500 to the levels of 37,500, a 2000 point range and it has been moving in this range for around three or four weeks now.
A lot of short sellers might be trapped because the market gapped up the next day and it is now consolidating near the resistance area.
A little bit of indecisiveness for some time. You just have to wait and watch as to how the market reacts at this point of time.
Important resistance area is the levels of 39,600 which has been tested multiple times now, and the market is consolidating near it.
Classical technical analysis tells you that consolidation near resistance area, gives you a sign that the market might break to the upside.
A market closing above the levels of 39,600, might quickly go to the next resistance area of 40,500.
A thousand point range will be covered in a very short span of time because it's a clear zone.
If I have provided any sort of value, just like this video and support my work.
Feel free to post your thoughts in the comments section.
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