BANKNIFTY finding bottom or PRZ near 44000- 43500 zone
Banknifty seems to be near bottom
Positive points
1. Positive Divergence on RSI
2. Buy on Dips with SL below 43500 OR
3. Buy Once RSI moves above 40 mark on 75 minutes chart
Negative Points
1. RSI below 40
2. MACD also -ve (with Positive Divergence)
Conditional Buy for a spike / Swing pull back in bearish trend with Target of 45300 and if it holds the level further up move can be expected.
Disclaimer
I am not an expert, I just share interesting charts here, Please seek expert opinion before investing and trading because investment in market is subject to market risks. I do not hold any position in bank nifty as of today but I may look for buy according to my risk reward calculation.
This is not at all a buy recommendation, Its just a hypothesis for case study
Positive points
1. Positive Divergence on RSI
2. Buy on Dips with SL below 43500 OR
3. Buy Once RSI moves above 40 mark on 75 minutes chart
Negative Points
1. RSI below 40
2. MACD also -ve (with Positive Divergence)
Conditional Buy for a spike / Swing pull back in bearish trend with Target of 45300 and if it holds the level further up move can be expected.
Disclaimer
I am not an expert, I just share interesting charts here, Please seek expert opinion before investing and trading because investment in market is subject to market risks. I do not hold any position in bank nifty as of today but I may look for buy according to my risk reward calculation.
This is not at all a buy recommendation, Its just a hypothesis for case study
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.