Price when compared to previous triangle breakouts it is bigger and the target is near the resistance point. If breaks the triangle up side then 25250 will be the target and there will be some consolidation for the price to settle and then it will once again rise up.
1. On the 2nd of October 2020, I wrote in my weekly blog of bank nifty regarding the direction of the trend this week and quoting point no. 2 of the trade plan section as proof of my statement made one week ago, of real price movement. "On the contrary, If the price takes out the pink dotted zone upside then the price will see...
I am not a SEBI registered investment advisor and hence do not follow my analysis blindly.
Be aware of what you are trading and the risk associated with it.
Stock market is risky and you can lose a lot of your capital.
Be wise and trade carefully!
BankNifty was sideways through July until the breakout in the last week of August 2020. With this breakout, huge volume was noticed across the board in all bankings stocks. Only to see the news regarding the what's going to happen with the Loan Moratorium drag it back down. The entire gains were wiped off and many retail investors were stuck in the August month...
1. On the 25th of Sep 2020, I wrote on the blog of bank nifty is quoting as proof that same is seen this week. ". On the contrary, if the yellow trendline which is not breached in 15 days is taken out in both time frames then the uptrend will start." Here if you see carefully price fulfilled this condition on the very first attempt...
Price breaks the long time support came up strongly last Friday and on Monday as expected it took support from these level and moved towards 22000 levels, there will be a small rejection in this level and price will reach 22500 levels shortly.
if crosses 22700 and closes above strongly then we can expect new high in the coming month.
1. On 12th of Sep 2020, What you have seen in form of fall was clearly mentioned in terms of conditions with using specific words to authenticate my statement quoting from point no.1 of the trading plan section " Now If the price has to move up then this yellow trendline with pink resistance which is just above the trendline has...
We have Wave 1 complete in the downward direction now is forming Wave 2 which is an upward correction;
Hence this is a temporary buy move till the price reaches the Supply Zone formed between 24210.20 and 25232.60
From this Supply we have a Wave 3 in the downward direction which will be our next Trade;
For now Buy 24200...
I hope you can now see how Banknifty represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that...