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sunilvedula

BNF EXPIRY ANALYSIS- jAN 20TH 2020_WAIT AND WATCH

Nifty Bank Index (NSE:BANKNIFTY)  
sunilvedula  
NSE:BANKNIFTY   Nifty Bank Index
Trend Analysis Chart Patterns Technical Indicators Fibonacci Retracement Doji
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trendanalysis chartpattern indicator fibonacciretracement doji
Mkt on the longer ( 1 day) time frame completed the retracement from 61.8% to 50%. The closing candle is a DOJI with a red body. Lower wick is suggesting support at 37840-37770 levels and resistance at 38100-38200 levels. Coming 2 days Thursday and Friday candles should help us determine the longer trend of the market. Either it will break and start going down to 38.2% (37040) or it will bounce back from 50% level and start scaling new heights.
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