Banknifty again becoming stealth bearish

Feb 3

After the good support in my past 2 predictions. I am again becoming bearish for a quarter time period or so if BN breaks this current rising wedge bearish pattern. It can fall further down to 42150 in a gradual way (could be gapdowns or fall in a day). Before the election it can give good healthy correction thats what i believe in. Please only follow this if you can survive with the bounces. Need to constantly book the targets then sell on rise strategy works. Market may also further continue the wedge pattern too from here then also can fall. But any gapdown from monday 5th feb will be clear sign for the further falls. If bulls has to defend there wont be gapdown. So wise people will understand it. You can also see my past achieved target in the same chart to gain more confidence on the historic analysis. Also please keep an eye on my daily updates below. any instrument falls below 200EMA is always bearish.

But jo log aisa sochte hai or kitna girega or kitna girega woh log sirf dekhte reh jayenge for sure. Will not entertain any nagative comments. Happy to help the positive people. I am also bull trader in long run but if market is not bullish you cant help. Agar market ke sath paltoge naahi to palat diye jaoge!

Target1 45500
Target2 45000
Target3 44400
Target4 43800
Target5 43050
Target6 42150

Keep this in mind. Options is a dangerous instrument to play. Please do not go wild on anything unless you know exactly what you doing. And market can always prove me wrong and i take that rights too.

DISCLAIMER: I AM NOT SEBI REGISTERED ANALYST.ALL POSTS ARE EDUCATIONAL PURPOSES.NON ADVISORY, DISCRETIONAL NO CLAIMS,RIGHTS RESERVED.I AM NOT RESPONSIBLE FOR YOUR PROFIT OR LOSS.

Feb 3

Trade active

Sorry to the bulls but if gapdown happens on monday. This will be clear target. Unless anything big magic happens.

Feb 5

Note

Selling pressure clearly evident.

Feb 6

Note

Target1 nearly done.

Feb 8

Note

Target2 coming.

Feb 8

Note

Target2 also done.



Now it will come fast. may be gapdown tomorrow.

Feb 12

Note

again target 2 after bounce.

Feb 12

Note

if it breaks 45000. It will be ready for next down move.

Feb 12

Note

Market forming the base around 45000. 100-200 points bounce can come.

Feb 12

Note

Abhi to party suru hui hai……..

Feb 13

Trade active

If 45000 broken. target3 koi nahi rok payega.

Feb 13

Note

May be tomorrow will be the day. just watchout.

Feb 14

Note

Target will be big ones break 45000 mark.

Feb 14

Note

market moves so furious & bullish today. BN moved 1000 points higher from the bottom. Proved me wrong today. lets see what happends till this friday. otherwise i have to change my view.

Feb 15

Note

After recent falls. Market taking support from 50% fibo support. 45760 support shouldn't be broken if bulls has to defend. One can only short the market after 45500 break which will be double confirmation with 30% fibo break. Expecting sideways momentum today. Option buyers should stay away untill this levels. If retesting 45760 then big upside move will come that too of a 500 points.

Feb 15

Note

Also one more bullish sign is it's trading above 100 200 EMA in 15TF

Feb 18

Note

Still the view is intact. Can expect good long unwinding from this marked level. 45960 one or two 5 mnts candle close and short trade can be initiated.

Feb 19

Note

updated chart....

Feb 21

Note

Updated situation chart. It will be bullish only above 46820 levels.

Feb 21

Note

in current situation. it will be still bullish as per price action because the closing is still above the 47k mark. Unless something happens in FOMC meeting today. Will update tomorrow what is next price action. Till then, have to pospone the bearish view.

Feb 24

Note

Further price action. If market not able to sustain at the current level and slide below 46000. My selling levels will be again activated. Not i think the time has come.........

Feb 26

Note

i think today's gapdown wont be bought. My personal view.

Feb 26

Note

BN closing considered to be bearish today.

Feb 27

Note

Gave closing above 46500. Which is bullish sign.

Feb 27

Note

But if gap down opening more than 150-200 points. Kaal koi naahi bacha payega bears se....

Feb 27

Note

Updated chart...

Feb 28

Note

Gave a small warning to the bulls.

Feb 28

Note

and then the fall

Feb 28

Note

tomorrow if today's low dont break till 10am. please dont go blind short.

Mar 4

Note

Mar 4

Note

SL hit. Complete sideways market.

Apr 5

Note

BN sustaining on higher levels but this is bearish flag.

Apr 12

Note

Falling wedge rejection.

Apr 19

Note

Does not look bearish now.

Apr 24

Note

As per my understanding. BN will be bearish below 48120 and bullish above it.

May 9

Note

47530 make or break level for BN as its channel support. If 48000 broken in BN. Still in the channel.

May 12

Note

I assume. 44500 should come soon. which is only 10% correction from the top.