c4dilip

Bank Nifty, Consolidation before 25K journey !

Short
NSE:BANKNIFTY   NIFTY BANK
Bank Nifty closed at 24,478 after touching a high of 24,764 (near term & strong resistance level ). Is it a consolidation before touching 25K or it is a reversal ? only time can tell. My personal view is it is just a short term consolidation ! Lets see…

Bank Nifty today gave 261 points on short side below the closing low of the selling divergence (blue) candle (15 minutes chart referred).

Indicator used TE REKAB, it captures reversals in the market.

This is my personal study & idea. Please take advice from your financial advisor before taking any investing decision based on above chart.

Happy Investing !

PS: If you appreciate my study, pls do leave a like. My funda is to keep trading simple & stick to your conviction once you are on the right side of a trade, esp . intra-day trade !!

Comments

Hi Bro, so the blue candle is a reversal indicator .....am i right...
Reply
c4dilip rnk1479
@rnk1479, yes....blue is Selling Reversal & yellow is Buying reversal. The indicator best works when you catch reversals at a day high & a day low.
Reply
Hello brother, which indicator that forms red and green zones and what is that indicator te rekab indicator tell me bro
Reply
c4dilip similarBus
@similarBus, TE REKAB is a indicator which catches Selling & Buying Divergences. It works on 5 mins & 15 mins charts for intra-day trades & gives good moves from day highs & day lows.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out