Magic Lines:
All supports are not for buy level. As like all resistance are not for sell levels
After long research and back testing we find which S&R is for sell level & which S&R is buy level.
In that result we give the pure intraday levels in charts.
BLUE LINE ARE BUY LEVELS
ORANGE LINES ARE SELL LEVELS
IF OPENING 5MIN CANDLE TOUCH BLUE LINE GO FOR...
It looks like Bank nifty is preparing for a correction and possible short term trend reversal as per the chart. Possible landings at 1, 2 & 3 and if it is a trend reversal, then it should go for 1 -2 years.
WITH CONTINUATION FROM DAILY TO 4 HOUR TIME FRAME -
THERE SEEMS TO BE DESCENDING TRIANGLE FORMATION
CURRENTLY ITS TAKING SUPPORT @ TREND LINE OF FORMATION
A BREAK BELOW - FALL WHICH WILL COINCIDE WITH DAILY FRAME ANALYSIS.
IF NOT CAN GO BACK TO RETEST NECK LINE
ON WATCH-LIST NOW
...
The Bank Nifty is making a bearish pattern called head and shoulder pattern, The banks are already weak, the hearing on moretorium will be on 28th September 2020, and it will not totally be in the favour of the banks. The pandamic is not over yet, so this all suggest will test the 21650 levels again and if it breaks will test 20000 levels also
Buy above 22030 for 150,300,700+++
Sell below 21875 for 150,300,700+++
Can comment or ping me for any query
All views for Educational purpose, Trade at your own risk
