Boult2100

BankNifty - False breakdown below 18200?

NSE:BANKNIFTY   NIFTY BANK
109 views
1
For BankNifty , 38% retracement till 17800-900 ( of the entire upmove from 13400 to 20575) is pending in this leg of correction, currently hanging in between. 200 SMA is also around 17800. So 17800-17900 is likely to be touched, breaking below recent swing low of 18150-200, trap all the bears & move up sharply from there. :-)
Trade active: Banknifty broke the previous low 18187. Last price 18165..Closing below 18200 today will confirm the hypothesis. 17800-900 vl come fast.. higher odds vl fall hard today if not today then next week. Stop Loss 18350.
Trade active: Despite high volatility nothing has changed for BankNifty technically. Made a gravestone Doji (Bearish) on weekly chart. Difficult to hold 18200 next week. Let's see.

Comments

Thanks, good setup.
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