I always follow the KIS (Keep It Simple) principle in my trading. I simply trade what my chart says.
Bank Nifty has been trading in an upward rising channel. So, which side to choose (bullish/bearish) is self explanatory.
But, let me just put it out for you. As you may see on the chart that the upper channel line is acting as a good resistance and the lower...
It seems Bank nifty is in Uptrend I have done a study on harmonic patterns.
As of now it is at the mid of CD leg so following things may happen...
1) If it sustain above 29412 then it may give a TGT 29550 , TGT 29825 , TGT 30170 , Final TGT 30625
2) Now if it start reversal from this level i.e. 29790 and breaks 28550 then we will get a TGT 27990
3) If It start...
HOW TO FOLLOW ALGO SIGNAL:
Deciding buy/sell
1.Strictly use only on 1 hour time frame.
2.Wait for a ‘X’ sign before mind make up. A red ‘X’ means look for selling opportunity , a green ‘X’ means look for buying opportunity.
Taking a position:
3.Wait for an arrow before entering into any position. A red arrow on upside of a bar pointing downward means open...
Second chart from the series of taking a look at the week that was in BankNifty. This week was very bullish trend in the market.
This chart indicates the overall breakout of the BANKNIFTY from it's bearish trend.
The previous two trading sessions have been studied in the below chart.
October 6th Trading Session
BULLISH MOMENTUM IS CONTINUED FROM...
In this video we show how to do scalping method with perfect SL trailing.
Video Courtesy TRADING VIEW.
Video is only for educational purposes.
#INTRADAY
#BANKNIFTY
#STOCKMARKET
NSE:BANKNIFTY
Hi Trader,
Follow Chart Instruction and do not be hurry for entry. Wait for proper entry setup for Buy/Sell.
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Drop some feedback below in the comment!
It is educational/learning purpose only...
Trade well,
Let's Learn and Earn. Elliot wave mostly if identified correctly helps in discovering important psychological levels.
Bank Nifty
Second waveform can start and wave 5 for previous wave form is complete with correction of ABC. Today's last 15 min start of new likely wave of Bank Nifty is beautifully mapped on 15min Chart for your consumption.
Also if it enters...
21300-21850 is a major supply zone in Hourly, Weekly, and Monthly chart. On the downside support @ 20450 and demand zones @ 19700-19800 and 19100-19250.
As expected Bank Nifty will open gap down and I don't know how many points it will open in negative. After a gap down it may bounce or it may go down further. I am not that much smart. So I will focus on the...
Today Bank Nifty tested its Short term Major Supply zone @ 21350-21750. This same Supply Zone is there on a daily and weekly chart.
On the downside, there is a minor support @ 20500 and demand zone @ 19700-19800.
I will plan my trade if Bank Nifty will sustain above 21350.
Today Bank Nifty closed above its minor resistance level @ 20500.
On the upside there is the resistance of the trending channel and supply zone @ 21500-21800.
On the downside there is minor support @ 20500.
Bank Nifty trading in the trend line channel.
On the upper side major supply zone @ 21500-21800 and downside short turm major demand zone @ 19000-19200. Also, there is trendline support near the demand zone. In any case, if Bank Nifty will break and sustain below 19000 then minimum 1000 points downside range will open.
The yellow zone is an OTM option...
Last week candle was not able to sustain above its supply zone @ 21150-21800. Even it failed to close in this supply zone.
On the downside, there is a demand zone @ 19500-19650 and weekly close is above this zone.
In any case, weekly close below 19500-19650 another 1500-2000 points downside range will open.
19000-19300 is a strong demand zone for this week. On the upside 19650-20450 is a strong supply zone.
As I have mentioned yesterday Bank Nifty is trading in the wide sideways range.
Bank Nifty is compared to weak. I will wait for the trend confirmation then only I will prefer to trade in the Bank Nifty. Right now I may avoid trading.
On Friday Nifty tested its lower level of its supply zone 9330-9600 but failed to close in this zone.
In this coming week, 9330-9600 may act as a resistance and in any case, if it will manage to sustain above this zone then the next major supply zone @ 9850-10000.
8800-8950 is a demand zone on the downside.
On the daily chart next supply zone @ 20800-21500. If it manages to close in this zone or above this zone then the next supply zone @ 21750-22500 and the major supply zone @ 23900-24750.
Bank Nifty may be strong in the coming days.
It's a good sign if it will sustain above 19000-19300. Next resistance is 19650-21800.
Data formation is also positiv in Bank Nifty.
![BANKNIFTY: Science Backed by Data[Bank Nifty Series]: BankNifty new wave ?](https://s3.tradingview.com/d/Dp8mzokW_mid.png "Science Backed by Data[Bank Nifty Series]: BankNifty new wave ?")
