Dear Traders,
Thank you for your support, It helps me more to post more educational videos on technical analysis. Today I was discussed about how market respects the trend, and how accurately works. Based on my experience and my knowledge and the way I'm analysis the market, I have posted an educational videos every week.
This week I was posted about the rally...
NSE:BANKNIFTY
BankNifty RSI closed below trend line
price closed at support
26500 will act as major support
below this another 600 - 900 fall can be possible
In banknifty we can clearly see that it has given a close above CPR and its R1. Whenever the prices close above the CPR and/or R1 it is said that prices move up.
In nifty it has given a close above CPR and weekely central pivot. So again an upmove is expected.
Buy on dips is suggested for the coming session on 13/8/2019.
CPR and pivots are marked with blue arrows...
stop loss 30920
look for pullback till 30900 , and then look for short.
1st target ===30200
2nd target ===29064
3rd target ===28420
4th target=== 27720
5th target===26737.
Disclaimer: All posts/views are for educational purpose only..!!
Kindly contact financial advisor before taking position/decision.
3 down spikes mentioned in the chart. Both spikes have the same measurement in numbers.
The pivot also has drawn and inner red control price is the first target.
Selling in value preferable for my strategy.
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Bank nifty is looking quite bearish, RSI is also showing the divergence. It may fill this gap in coming trading sessions, let's see what market kept for us.
Happy Trading!
Rachit
Bank Nifty made a new intra day low in the final few minutes of close which does not spell great news for the bulls. It is about 150-200 points from testing the January '19 low of 26441 and December '18 low of 26408. One should await this move and see the behavior at the levels and wait for a confirmation in either direction.
With the present scenario it is...
