Banknifty future chart analysis for 14-08-2023
As you can see here that bollinger bands are in squeeze mode, and price
after rejection from median line (Orange), taking support at standard deviation
two (Red), if price goes below standard deviation two , you may see a burst in
bollinger bands and price will go much lower side achieving all targets given
by me.
44624 is a strong resistance if price trying to retrace from here , go short for the target of
44341.
if price goes above 44624 then it may easily reach to the level of 44807, and may again retrace back to 44624,
crossing above 44807 may push it toward final target.
after rejection from median line (Orange), taking support at standard deviation
two (Red), if price goes below standard deviation two , you may see a burst in
bollinger bands and price will go much lower side achieving all targets given
by me.
44624 is a strong resistance if price trying to retrace from here , go short for the target of
44341.
if price goes above 44624 then it may easily reach to the level of 44807, and may again retrace back to 44624,
crossing above 44807 may push it toward final target.