It is completely range bound between 34 and 35, if it breaks support it can fall further to a level of 26-27.
On 15 Min Chart, NIFTY50 has formed a pole-flag pattern with a flag range of 100 points and pole with a length of 600 points, NIFTY closed above 15 Resistance Trend Line, however closed below 200 DMA,
It is in the PRZ of a Bullish Harmonic ALT SHARK in Weekly time frame. A daily close above 1650 would add conviction for a probable move for next resistance at 1850-2000. Small time frame resistance at 1590-1625. For now the pattern would get negated below 1450
BANK NIFTY RSI has taken support on the trendline the last 2 times showing positive divergence. if the divergence holds for the 3rd higher high of RSI, a possible rebound can happen
In daily time frame ITC has made a Bearish Island Reversal. Even though the impact of this set up usually works after an uptrend, we cannot ignore the repercussion in the current scenario. Until it does not negate the bearish pattern AT 165 upside looks difficult. Above that a short term move till 200 where it has a massive monthly and weekly resistance. Downside...
AXISBANK is at strong monthly supports in long term charts. todays low is key for this month close or weekly close. Daily charts show extreme oversold conditions
NIFTY.. short term divergence on hourly charts?? just for info. DO NOT TRADE IN THIS MARKET..YET
AXIS short term chart is right now at short term resitance. but RSI movingup and volumes hav picked up considering the positive setup today, any break above the immediate trendline resistance can give 5 to 6% upmove.. or even more..
follow if nifty goes up with vix not good sign vix must fall