banknifty might fall from this level (need high pressure of volume to reach upside levels)
Banknifty possible moves Bullish side today. We will see banknifty trade between 22050-22450 in today's session. Its fewer chances to break 22500 levels today but if breakout we will see a further quick rally towards the 22750+.
BankNifty may likely to give breakouts in either way. If Red upward trend line breach, then you may witness a downside. In case the green resistance levels break, where multiple resistance is there, then Banknifty may rally.
Analysis is on the chart 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 carefull!
If bank nifty will push the price towards 21704 + We may see a bulls But, If it pushes towards 21385 we may see Bears
Banknifty buying area 21450±50. Below 21300 a sharp fall can expecting. The movement Banknifty cross 21950 and sustain min 15-20 minutes. It will blast with ICICIBank and Axisbank .
Looking at the charts if the resistance is broken, we'll see a trending Monday..
Bn has shown certain sell off throughout the week between 21900-21950, so this is very crucial level. As today is the last trading day of the week, buy only when this level is breached and sustained. conversely if this level is not retained shorting can be initiated from 21900. 21000 is the major support.
If Banknifty moved towards 21631 + we may see a bullish market If banknifty will push the price towards the support I.e 21337 we may see a bearish market
NIFTY BANK can move a minor pull back and can start the fall
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...
Still to break the pattern, wait for confirm support & go long. sell only when the low breaks.
Currently in short term downtrend, SEBI new rules may interfere the market. Resistance is around 22000-22350 Support is around 21040. If you like, just hit thumbsup button or comment and share. Updated on : 01-Aug-2020 10.00pm Disclaimer: Only for learning purpose.
As mentioned already in my earlier idea (attached below) on Banknifty that if buyers has to take back the control Bank nifty has to move above 21920-930 which might stretch upside towards 22200-22300. We booked profits in that trade and Banknifty moves similarly as expected by us and now we can clearly see that 22300-350 is acting superb support for Banknifty...
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...
Entered Bank NIFTY longs at previous demand area 22700. Looking for a target of 23300 and 23600 area for July 30 expiry.