Banknifty Forming Cup & Handle Pattern
Hello Traders,
Possibility of market opening with Gap UP/Flat.
Resistance Level :
1. Good Resistance Zone exists at 35600-35800.
2. Stronger Resistance at 35500 .
3. Strongest Resistance at 36000.
Support Level :
1. 35000 is Strongest Support Level .
2. 34800 is a Strong Support.
3. 35200-300 is Good Support Zone .
Sideways Possibility:
More Sideways above 35300 to 35500 in first half, if market sustains below 35500
Cup & Handle Breakout Levels:
35300 and 35550 as shown by violet color arrows.
Trend Line :
Buy above green Trend Line when it reverses from it.
Buy above levels as indicated by green arrows.
Sell Below Green Trend Line and at levels 35500 when you see a reversal.
This is not Buy and Sell recommendation to any one.
This is for education purpose and a helping hand to learn trading in Market.
I hope you all like my analysis.
Please do share your thoughts into comment section.
Please give a like, it motivates me to do analysis and do share with your friends as well.
Possibility of market opening with Gap UP/Flat.
Resistance Level :
1. Good Resistance Zone exists at 35600-35800.
2. Stronger Resistance at 35500 .
3. Strongest Resistance at 36000.
Support Level :
1. 35000 is Strongest Support Level .
2. 34800 is a Strong Support.
3. 35200-300 is Good Support Zone .
Sideways Possibility:
More Sideways above 35300 to 35500 in first half, if market sustains below 35500
Cup & Handle Breakout Levels:
35300 and 35550 as shown by violet color arrows.
Trend Line :
Buy above green Trend Line when it reverses from it.
Buy above levels as indicated by green arrows.
Sell Below Green Trend Line and at levels 35500 when you see a reversal.
This is not Buy and Sell recommendation to any one.
This is for education purpose and a helping hand to learn trading in Market.
I hope you all like my analysis.
Please do share your thoughts into comment section.
Please give a like, it motivates me to do analysis and do share with your friends as well.
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