Rounding Top pattern observed in Nifty Bank. Neck level is at 30200, which if the index breaks decisively, can be considered for Short selling. Target of the pattern comes at 28620.
We could also find that 61.8% Fibonacci retracement level of the previous swing falls at around 28600 coinciding with the pattern target. Hence if the index falls, 28600 region would...
BANK NIFTY: WEEK-TECH-SHEET->06th May 2019 to 10th May 2019
Bank nifty moves around -1050.85 pips from 06th May 2019 to 10th May 2019, in which bank nifty break last week 29th April 2019 to 03rd May 2019 bottom 29550.05.
1.The MACD indicator in the chart shows us that the MACD line (Blue Line) has crossed the Signal line(Orange line) and moved lower indicating bearish crossover (start of bearish trend) giving us a sell signal.
2.The DMA on the chart are 9, 50DMA both are moving downwards indicating a bearish trend.
3. We can enter short positions in the stock once...
One may sell Bank Nifty on rise with SL of 30280 and a target 29788. One might choose to sell the 30300/ 30400 CE options on rise depending on the risk profile. The mentioned levels are cash levels and are valid only for today.
Bank Nifty with today's close gave a bearish candlestick pattern on a 'weekly' basis which tells us that it will break 29350 in the coming week. One may sell Bank Nifty on rise with SL of 30030 and targets of 29150/29000 . The Nifty has also given the same kind of pattern and hence the downward move will have help from the Nifty heavy weights as well. The Rsi has...
We got a bearish pattern on the banknifty charts (daily) which indicates upper hand for the bears and which tells that the present trend might take a breather. So it would be a good idea to sell on rise with SL of 29950 and targets of 29300/29160 for the short term.
All levels are Cash levels.
BANK NIFTY: WEEK-TECH-SHEET->11th March 2019 to 15th March 2019
Bank nifty moves around +1729.45 pips from 11th March 2019 to 15th March 2019, in which bank nifty break last week 4th March 2019 to 8th March 2019 top 27815.50.
If it continuous to break 29520.70.
Buy @t Entry: 29820
Stop Loss: 29020
Target 1: 30020
Target 2: 30087
Target 3: 30220
Target 4: 30620
We need to tread carefully. Intraday traders can reap benefits based on momentum and short term trend direction, taking 5/15 minutes candles into consideration. If looking at Intraday, then keep your fingers fast with at least 10-30 points profit, and exit. BNF, as of now, is like a drunkard in a Hummer.
Banknifty has already broken out from a rising wedge pattern... made a low at 26450... bounced back from there to test the breakout level and now again going down to test the low of 26450. In the attempt to re test It's forming Adam and Eve Top Pattern.
If Banknifty decisively breaks below 26450 then levels of 26000 / 25600 can come.
Please note that it's a...
BnF has reversed from the .78 fib retracement in a classic channel.
It is all set to touch the support of 25400.
With the last election budget coming up, this doesn't seem far. A massive sell-off is enough.
EW Analysis :
BN is in pullback mode from lows of 24400 and is showing a clear abc pattern on upside.
Trend Breakdown :
BN breached the up-trend in Sept 2018 which started from Mar 2016 and is now retesting the up-trend support which now becomes resistance for BN .
Supertrend Resistance :
Any weekly close above 27800 on BN would change the bearish signs to...
Similar to Nifty we can also see the bearish pattern in bank nifty as well. Sell range is between 27632 - 27656. Observe the price action near the range before making any short entry. Wait for the price rejection in the given range.