As per my analysis, Banknifty has exactly retraced 50%.
Now for further bullish rally it must take support of 0.35 levels i.e 39600 in round figure.
We do see support at that level, but we also see a strong resistance at 40000 levels.
Moreover i feel market to go sideways in first half and then move in one direction.
Bank Nifty has completed the corrective wave (4) at 31208.
After the climax of wave (4), we have seen an impulse phase with overlapping nature. According to Elliott's wave theory, 5th wave can become an ending diagonal.
I will update the intraday chart of the bank nifty soon.
Stay connected.
BankNifty opened with a minor gap-down and took support in the morning near our Sell Level which was 41000. We saw a pretty range-bound day and BankNifty broke Range on the downside after 2:00 PM.
Trades we took Today:
> Bought BankNifty 41300 CE at 200 in the morning which we booked at cost as there was a very slow movement
> Bought BankNifty 41400 PE at 290...
Hello Traders,
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 your thoughts into comment section.
Please give a like, it motivates me to do analysis and do share with your friends as well.
Hello Traders,
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 your thoughts into comment section.
Please give a like, it motivates me to do analysis and do share with your friends as well.
BankNifty opened flat at 39600 level and we saw a sell-off in the morning, BankNifty took support at 39300 in the morning and we saw good up-move from that zone.
Trades we took Today:
> Bought BankNifty 39500 CE at 250 which we booked with 20 points loss at 230.
> Bought BankNifty 39600 PE at 320 which we booked with 50 points loss at 270.
Overall, bad day for...
BankNifty opened a flat and soon it took support near 37640 and started going up from our Buying level which was 37780. We saw a good upmove in the first half and as per SpanAttack Strategy, we saw a sell-off in BankNifty around 12:30 PM.
Trades we took Today:
> Bought BANKNIFTY 38000 PE at 270 which we booked with 10 points loss.
> Bought BANKNIFTY 38200 PE at...
Today BankNifty opened a flat near our Buying Level 37350 but we saw selling at open and BankNifty came towards 37050 level which was a support zone. We bought BankNifty 37100 CE at 280 which went to 330, we bought again at 270 and it went to 350 and Traders booked great profit in morning trade.
We booked some profit in 37200 PE too which we bought around 240 and...
Hello Traders,
Following are my analysis:
Resistance Level :
1. Good Resistance Zone at 37100-200
2. Strongest Resistance at 37000.
3. Good Resistance at 37200.
4. Strong Resistance at 37500.
Support Level :
1. 36200 is Good Support Level .
2. 36000 is the Strong Support Level .
3. 36500 is Strong Support Level .
4. 36600-800 is Good Support Zone
Sideways...
