BANK NIFTY 41800 LEVELS SOON ?
hello friends
we will try to analyze, where the expected expiry would be for the DECEMBER month. I will cover everything in a deliberate manner.
Now without wasting any time lets analyze the chart of bank nifty. THIS is bank nifty chart on THE daily time frame. Bank nifty has formed AN EVENING star pattern on the daily time frame. Those who don’t know what AN EVENING star pattern is? Those members can ask me in the comments box
I will explain the same to them. Just remember evening star is a bearish reversal pattern formed after an uptrend and denotes that the market will fall. Whereas the morning star pattern is an opposite of evening star which is formed after a down trend and denotes that the trend will reverse to the upside. It is a bullish reversal pattern.
Now in the previous trading session bank nifty closed at 43300 levels. On Monday that is 19 December I expect bank nifty to open Gap down with about 300 points or more. Yes I can see a gap down of 300 points. So what will be my trading plan?
Friends on MONDAY IF we break below 43200 levels on the daily closing basis then I will go short in the market with a target of 41,800 levels on the positional basis. Yes now most of you will think I am giving very big targets of 2000 points or more.
Yes, that will happen in the market and we will witness the fall or correction.
Therefore I will avoid any more bullish trades in this type of the market. The next zone of support for the market will be 41,800 or 41,660 levels on the daily time frame where we can see bank nifty can take support and some relief for the bulls at these levels.
we will try to analyze, where the expected expiry would be for the DECEMBER month. I will cover everything in a deliberate manner.
Now without wasting any time lets analyze the chart of bank nifty. THIS is bank nifty chart on THE daily time frame. Bank nifty has formed AN EVENING star pattern on the daily time frame. Those who don’t know what AN EVENING star pattern is? Those members can ask me in the comments box
I will explain the same to them. Just remember evening star is a bearish reversal pattern formed after an uptrend and denotes that the market will fall. Whereas the morning star pattern is an opposite of evening star which is formed after a down trend and denotes that the trend will reverse to the upside. It is a bullish reversal pattern.
Now in the previous trading session bank nifty closed at 43300 levels. On Monday that is 19 December I expect bank nifty to open Gap down with about 300 points or more. Yes I can see a gap down of 300 points. So what will be my trading plan?
Friends on MONDAY IF we break below 43200 levels on the daily closing basis then I will go short in the market with a target of 41,800 levels on the positional basis. Yes now most of you will think I am giving very big targets of 2000 points or more.
Yes, that will happen in the market and we will witness the fall or correction.
Therefore I will avoid any more bullish trades in this type of the market. The next zone of support for the market will be 41,800 or 41,660 levels on the daily time frame where we can see bank nifty can take support and some relief for the bulls at these levels.
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