BankNifty Analysis - Stance Bullish ⬆️
Yesterday we discussed the possibility of HDFC Bank making a move and quite fortunately that came true today. We rallied an impressive 769pts ~ 1.66% today to take out the first resistance (bearish trendline break). Would you believe the elephant jumped 2.63% today along with AXIS Bank 2.41%, Kotak Bank 1.8%. ICICI Bank &...
Nifty Analysis - Stance Bullish ⬆️
Recap from yesterday: “From 15th Dec 2023 to 15th Feb 2024 — Nifty was in a narrow range of 21491 to 21913 with a couple of false breakouts/breakdowns. So we are keeping our fingers crossed this time to validate whether it works out. One way to do that is to check for follow-through price action. Blips do not last that long and...
The chart indicates a buy signal for the near term.
given that the market saw a significant consolidation rejection at the lower end
support ! @ 45600-45800
next zone: 47350–47600 aREA
Banks that may support = hdfc bank, icici bank ,
neutral: axis bank
weak: kotak bank
BankNifty Analysis - Stance Bearish ⬇️
Banknifty fell an unbelievable 1696pts ~ 3.64% from the HOD to the LOD. As usual, the gap-up of 472pts would have painted the wrong picture today especially when the Traders came ready to play ICICI on the long side. Never in the day, we got a bullish signal today - it was a one way journey from that gap-up to the low of the...
BankNifty Analysis - Stance Bearish ⬇️
For some or the other reason, the 4mts & 63mts charts are not visible on TradingView. It may be due to this unscheduled working day and they might be facing issues with data feeds from vendors. We had a bearish view yesterday also and despite BN ending the day today with 357pts ~ 0.78% we are still maintaining the bearish...
BankNifty Analysis
We got some interesting moves today by BankNifty. During pre-open ICICI bank was looking very weak but other banks were looking okay. But once markets opened - BN fell to 47810 by 09.19. The 2 horizontal blue lines I have drawn are the weak support and resistance lines from the last 2 days of action. BN went above the 47873 and was trading...
Add this to watchlist and wait for entry.👁️🗨️
For short term investment ;
Leave a " Like If you agree ".👍
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Wait for small retracement & daily candle to close above - "972" .
Trade carefully untill ENTRY level.
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Entry: 972
target: 975 - 985
sl: 965 -960
major stoploss/ support: 960
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Enter only if market Breaks
"Yellow box" mentioned.
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Don't make...
BankNifty Analysis
BankNifty on the other hand had a gap up open, thanks to the excellent results from ICICI Bank. To a great extent, BankNifty resisted the down move on Nifty. Even till 13.55, it was only 0.17% below the previous close.
But right after that, it fell like a house of cards. Whatever support ICICI gave till then was undone. ICICI ended up closing...
This chart explains that ICICI Bank has broken the mid-point (support) and formed a double top pattern and got activated by breaking the support line in Weekly Time Frame
However nothing to panic as the next level of support is very near by and it is a short pattern. Unless it reverses and closes back above 950 this pattern will be valid.
If the pattern...
Dear Indian Traders and Investors, I made a quick analysis for you on ICICIBANK to let you know that you still can buy it since the market is following the strong support level that it couldn't break for the past 3 years, and the price will go for longer.
The comment secion is all yours for further questions!
Hi guys, A bullish breakout of more than 18 month long consolidation has been oberved in NSE:KOTAKBANK . If it managed to close above the trendline today then we can create a fresh position in the scrip at todays closing. sl and targets will be shared later.
Exit the position if the stop loss is triggered on WCB.
DO YOU WANT ALL MY RESEARCH FOR FREE THEN...
A technical bearish view message is a notification that is sent to investors when technical indicators suggest that a market or asset is likely to decline in price. These indicators can include moving averages, momentum oscillators, and chart patterns.
Having a plan of action before a stock you hold comes to a crucial point is essential. You have 3 decisions to make in ICICI Bank as it comes to LTH. All eyes will be on 960. I hope these rules help
There are sellers at 960 - if the stock moves there slowly it will get hit back - possibly all the way back to 940
Just like happened in ITC - we need to clear...
icici prudential share elliot wave analysis
this stock complete upside impulse wave and come down normal flat correction
normal flat rule wave B not cross wave A starting point
Use fib level price downside 38%
Bank Nifty reversed today from strong resistance at (42725-750 ) approx.
Check resistance marked in red sign post
Bulls may flex tomorrow as well a good Retest Entries can be made ( Marked with path tool in green )
ICICI Bank has declared a solid set of numbers. ICICI Bank remains one of the strongest banks in the country. Technically also I believe that this is one of the strongest stock in the stock market. In my opinion, one can go long in this share above 940. Hold for long term if 940 is taken out.
