Atul_Tirole
Short

Bank Nifty Is Now Ready For Fresh Downside Rally

NSE:BANKNIFTY1!   BANKNIFTY INDEX FUTURES
There are many Price Action Patterns indicating that Bank Nifty can start fresh downside rally.

For More details: Follow above analysis
Comment: As per above chart range of 22990-24200 is very very crucial range. Although today Bank Nifty formed bullish candle but RSI could not cross the 60 Level and now facing resistance at 60 level.

4 Hourly candle end up with Spinning Top again with RSI Facing resistance at 60 Level.

Hourly Chart formed Two Consecutive Spinning Top at closing time indicates Strong Indecision between Buyers & Sellers. This Indecision is supporting to our crucial range of 22990-24200.

Now eagerly waiting for breaking the range till then Be Calm, Keep Patience
Comment: As I mentioned in my previous comment 24200 - 22990 is Major range which needs to be break for taking its direction.

In last two sessions Banknifty Closed above upper range of 24200 and today it broke the high, Now it clearly indicate the bullish break out of the range.

As I also mentioned that I will wait until it breaks the range either UP or DOWN, now bullish break has been confirmed, so now I will look it for Bullish Movement.

Comments

lwda....
+35 Reply
arvi4u paraskanwar30
@paraskanwar30, hhahaha same here
+2 Reply
hdfc bank showed better results than what predicted
+12 Reply
Heres what i think this 16 oct fall was because of SC. I dont think there was any rejection...banknifty can do 25500 till the end of this month.
+5 Reply
Fail, broke on upside
+1 Reply
@T_Harth, Yes, I was waiting for range break out. Now range breakout has been confirmed. Please read more where I posted update about the idea.
Reply
Peter Lynch : More money has been lost in anticipation of corrections than in corrections itself! therefore be bullish on the long term, even if it falls in the short term, economies are gonna expand and bull markets will always come
+1 Reply
Yes, Fresh downside rally towards 28000. When will you people come to reality?
Reply
WATCHING A 4 HR CANDLE FOR A MARKET WHICH LAST 6 HRS & 15 MINS WILL NOT REFLECT PROPER DATA, BECAUSE EVERYDAY WE WILL GET JUST 2 CANDLES OUT OF WHICH 1ST ONE WILL BE CONSIST OF 4 HR DATA AND D NEXT ONE WITH JUST AROUND HALF THE DATA, I WOULD RATHER PREFER 75 MIN CANDLE. I AM AN AMATEUR SO I MAY BE WRONG. I JUST KNOW HAPPEN TO KNOW VPA SO IT WAS MY ASSUMPTION.
Reply
Bro, What is your view now? will it still retrace back or go further upward?
Reply
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