bijoy2526

BANK NIFTY bounced from support 1

NSE:BANKNIFTY   NIFTY BANK
that happens to be the median line too.
could not go past the 1 st support area
I had mentioned support 21069 tday's low was 21029.
only breaking below the median line may take it to S3
candle stick pattern seems to be that of hammer which represents reversal after some days of decline.
how ever it should be followed by a bullish candle next day

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levels worked superb, keep posting for next week also
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What point will be bullish ??
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bijoy2526 decentFalcon5274
@decentFalcon5274, if takes out high of wedness day.
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Todays EOD ( 1 hour time frame) high seems to be just another lower high in downaward movind swing of the pitchfork you have drawn. Prices reversed from median line but again reversed from sliding parallel drawn from upper middel parallel. Is it not bearish signal?
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bijoy2526 UnknownUnicorn5412484
@UnknownUnicorn5412484, the candle stick pattern on daily time frame is of hammer (whether it is that of expiry effect ),it is a reversal pattern after some down side bulls are able to push to the upper end.May be this is due to expiry difficult to say..
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