Hello Traders,
I hope you all had Great and Happy Diwali.
Strategy to follow : Sell on Rise i.e buy Put when market faces Resistance Level.
Please trade accordingly the levels marked.
This is not Buy and Sell recommendation to any one.
This is for education purpose and a helping hand to learn trading in Market.
I hope you all like my analysis.
Please do share...
Banknifty is above 35050. It may face resistance at 35300. If banknifty sustains above 35300 then 35500.
Being First trading day of July series Wait and watch will be better for today
Major resistance: 35500
Major Support: 35000
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Hello Traders,
Resistance Level :
1. Good Resistance Zone exists at 34700-800.
2. Strongest Resistance at 35000 .
Support Level :
1. 34000 is Strongest Support Level .
2. Good Support at 34300.
3. 34500 is a good Support.
Sideways Possibility:
More Sideways below 34500 to 34700, if market opens below 34700
This is not Buy and Sell recommendation to any...
What is Elliott Wave ?
Elliott Wave theory is one of the most acknowledged and widely used forms of technical analysis. RN Elliott developed the theory after analyzing nearly 75 years of stock data, and Robert Prechter later popularized it.
According to the Wave theory, the market trades in repetitive cycles, which Elliot primarily attributed to the emotions of...
More like a breakdown ! Let’s see if it sustains...
Currently trading at no trading zone as the range between 35350-35200 has always shown indecision since last so many days! Hence its better to avoid trading this range!!
One can trade it breakdown ✅
BANKNIFTY AT REAL CRUCIAL LEVELS
MORE LIKE ASCENDING TRIANGLE PATTERN FORMED
trading at resistance now 35200 is the level to watch as of now ! The market has been consolidating since last 3-4 days expected unidirectional move if following given levels are broken and sustained ✅
Hello Everyone,
Hope you all are fit and fine ... Stay Safe and Trade safe...!
As predicted in previous analysis, BnkNifty Open Up with small gap and was in Sideways rest of the day.
Resistance Level :
1. 35000 is immediate Strongest Resistance level .
3. Good resistance exists at 35500 and Strong Resistance is developing from 35000 to 35500.
Support Level :
1....
Important levels mentioned in the chart !
As discussed yesterday it was a sideways market
This week could be highly volatile because the range is very huge that is 34200 to 35200 as of now and it can keep on consolidating this entire week if not broken above with good volume else we can see some correction in upcoming days
You can see BANKNIFTY being in parallel channel since last month!! We can expect a breakdown today following the global cues 🚨
Level to watch for is 33000
CURRENTLY STANDING AT REAL CRUCIAL LEVELS OF 32400-32200
The reason being crucial are ~
~ 0.5 and 0.618 which is also considered as healthy retracement before continuing its main trend ( that is UPTREND )
~ the W shaped breakout’s NECKLINE which previously acted as a RESISTANCE and gave confirmation of trend reversal as UPTREND will now act as GOOD SUPPORT
~...
SORRY FOR THE MESSED UP CHART but that’s what makes your analysis more precise
Currently in NO TRADING ZONE unless the following given level breaks mentioned in chart !!
All the levels provided has been the recent swings which had multiple touch points and has been tested many times which make them an important SUPPORT AND RESISTANCE
Did exactly what we discussed yesterday
~ opened above 33600 and one sided rally made till 33950 then the market remained sideways through the day
NOW WHAT FOR TOMORROW??
Since BANKNIFTY remained sideways through the day it gave us the potential levels for tomorrow,
we can also see INVERTED HEAD AND SHOULDERS PATTERN which is also a BULLISH continuation...
I can see a cup and handle formation and 33350 is the resistance which has become weak due to multiple tests, if broken can retest 34650 followed by 34750 level.
