Banknifty fell 1100+ points which are 2.61% fall on the index. I published an analysis on the morning of January 25th where I had sketched all the important level.
Analysis was provided on 15-12-2022. See how Banknifty respects our analysis. =
The ability to act on such knowledge will separate an average trader from an exceptional one. You should always view the market as a BULL and as a BEAR.
Banknifty is oversold on the one-hour chart. Determine the level of short covering, Finding false profit booking levels, break-out levels, the entire day's trend and range, entry and exit points, and unique support and resistance much in advance will help traders avoid falling into a trap. Join our course to learn this art.
Today's Bank Nifty Index may open flat near 42760 and may attempt toward 42879. Here, keep an eye on whether BankNifty maintains its position above 42879, since only a breakout pattern would be able to drive Bank Nifty in the direction of 42050. Be cautious since they are fictitious levels. If Bank Nifty is unable to maintain above 41760, it can easily go toward 41500 and 41370. Therefore, be prepared for a swing market and wait for an entry technical pattern before trading; else, stay away.
If Banknifty break previous day low, free fall is expecting. If Banknifty took support here then it may bounce towards the upper daily trendline.
Analysis was provided on 15-12-2022. See how Banknifty respects our analysis. =
The ability to act on such knowledge will separate an average trader from an exceptional one. You should always view the market as a BULL and as a BEAR.
Banknifty is oversold on the one-hour chart. Determine the level of short covering, Finding false profit booking levels, break-out levels, the entire day's trend and range, entry and exit points, and unique support and resistance much in advance will help traders avoid falling into a trap. Join our course to learn this art.
Today's Bank Nifty Index may open flat near 42760 and may attempt toward 42879. Here, keep an eye on whether BankNifty maintains its position above 42879, since only a breakout pattern would be able to drive Bank Nifty in the direction of 42050. Be cautious since they are fictitious levels. If Bank Nifty is unable to maintain above 41760, it can easily go toward 41500 and 41370. Therefore, be prepared for a swing market and wait for an entry technical pattern before trading; else, stay away.
If Banknifty break previous day low, free fall is expecting. If Banknifty took support here then it may bounce towards the upper daily trendline.