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Bankniftypriceaction

How to trade Dragonfly Candlestick ?Hello Everyone, I have tried my best to explain, How to trade Dragonfly Candlestick pattern ? Here, most imp point to consider is the Confirmation Candle ... why? 1. Market opened Gap down and was in the down trend, which broke the major Support level of 35000. 2. Now, this broken Support level would act as Resistance Level when market tries to reverse taking support of Trend Line . 3. At the same time, there was a formation of Dragonfly Candlestick indicating a Bullish move, so we should not immediately enter into trade as soon as formation of Dragonfly or Bullish Candle ...Why ? a. We have an immediate Resistance Level of 35000. b. If we enter as soon after completion of Bullish candle (Dragonfly), then our Stop Loss would be too big ... which is not good. c. Also, the Bullish movement is not confirmed yet, so we should wait for confirmation candle. 4. Here, we see Confirmation candle breaking the immediate Resistance level and closing at the 35000 level. 5. Now, if we take trade after Closing of confirmation candle then Most Imp is Stop becomes very small compared to previous entry and we can see our target is achieved. I hope you all like my teaching. Please do share your thoughts/queries into comment section. Please give a like, it motivates me to do more and do share with your friends as well.
NSE:BANKNIFTY
by kiranrshinde
Banknifty Formed Double Top Pattern on ExpiryWhat Is a Double Top? A double top is an extremely bearish technical reversal pattern that forms after an asset reaches a high price two consecutive times with a moderate decline between the two highs. Or in simple words... A double top is a bearish technical reversal pattern It is confirmed once the asset's (Banknifty's) price falls below a support level equal to the low between the two prior highs... Here ... a support level equal to the low between the two prior highs .. is 35500 level.. as shown in Yellow Circle.
NSE:BANKNIFTY
by kiranrshinde
How to take trade with Hanging Man CandleHello Everyone, I have tried my by best to explain, How to take trade based on Bearish CandelStick (Hanging Man) formation in Banknifty . If still you are not clear, put your queries into comment section or Correct e if i am wrong. 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 hit the Follow button to get the regular analysis. Please give a like, it motivates me to do analysis and do share with your friends as well.
NSE:BANKNIFTYShort
by kiranrshinde
4
BankNifty Expiry Special Day View Hello Traders, Hope you all are fit and fine ... Stay Safe and Trade safe...! As predicted yesterday, BnkNifty Opened Gap Down ... Today...😎 Resistance Level : 1. Strongest Resistance exists at 35500. 2. Next Strong Resistance at 35800. 3. Stronger Resistance at 36000. 4. Good Resistance has developing at levels from 35500 to 35800. Support Level : 1. 35000 has become Strong Support Level . 2. Good Support Below is 34500 Level. 3. Good Support Zone between 35100 and 35300. SideWays Possibility : More Chances of Sideways market at for the first half, Between the Range 35500 to 35000. Imp Note : Formation of Hammer Candel .. at support of 35250 .. what does it mean ... go and check video on my channel ... late in the evening. 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 hit the Follow button to get the regular analysis. Please give a like, it motivates me to do analysis and do share with your friends as well.
NSE:BANKNIFTY
by kiranrshinde