understanding banknifty future trades through support and resistance.
CHART IS SELF EXPLANATORY! Looks weak but make sure it closes it candle below the trendline, candle must be of 1 hour time frame It’s expiry today so it could be highly volatile but we will carry on with our technicals, keep small STOPLOSSES if making new short positions GLOBAL CUES NEGATIVE TO MIXED so stay cautious
understanding trades for banknifty future on the basis of support and resistance. ******* you may hear quite a few speech fumbles due to medical condition, so please consider those.******************
Banknifty currently trading at NO TRADING ZONE, the levels being 34900-35150, it has been an area of confusion since last month ! Break on either side with proper candle close candle would define the next upcoming trade which could be potentially be breaking above! Even If breaks below don’t short aggressively as MAIN TREND being bullish and every dip now is a...
understanding future trades through support and resistance.
Banknifty under perfect INVERTED HEAD AND SHOULDERS pattern identified which shows bullish continuation but not at one go! , Since the momentum done was huge on Friday, there is probable chances of market being sideways for upcoming couple of days and continue its bullishness For better confirmation make sure BANKNIFTY sustains itself above 35600 which had been...
Beautiful REVERSAL was seen yesterday from 34000 levels which was pretty much expected as yesterday’s low was well respected and not broken, the reason behind the reversal was that as you go back around 21st of May you can see 34000 level has been acting a good RESISTANCE, and it’s very break gave spontaneous 400-600 point move in one go ! Now what ? It is...
As of now BANKNIFTY seems to be under international pressure wherein in these scenario not much of technicals work but in a long run BANKNIFTY and NIFTY is still bullish! The reason being me saying BULLISH because every time the market tries making new lows, BULLS comes up and closes strong and the closing price of market is what decides the sentiments of market...
If crosses 35350, then Bullish targets open up else, if it comes below 35110, then need to see how price action performs, might go sideways. Bearish below 34550
Bank Nifty Trade Plan for 11 June 2021 How chart looks on HTF : Bank Nifty formed a good bullish candle on daily time frame and managed to close above 35100 levels Expected Opening : Expecting a flattish to small gap up opening in Bank Nifty. Today's Trade Setup : Bank Nifty looks bullish and managed to close above next day CPR. If flat or gap up opening, ...
Banknifty may help to hold the bull rally of Nifty. Immediate Resistance: 36000 Immediate Support: 35500 Trade with Stoploss! For Information & Education purpose only! Regards Trade Leader
Major Resistance:34000 Major Support: 32800 Trade with Stoploss! For Information & Education purpose only! Regards Trade Leader
Bearish Bias : Head and Shoulder Pattern not broken down yet,if breaks, targets for downside open up If doesn't break down but goes upside above 35232, then upside targets open up
Bank Nifty Range BO or within range ? Trade Idea as per trendlines and flag pattern
Triangle Pattern on 15 min Time frame, if breaks upside then 37200 is the target also there is a bullish harami candlestick pattern on hrly. If breaks down there are gaps to be filled... May consolidate and take time...
Case 1 : Bank Nifty May start its upward journey resistance placed at 37000 breaking the flag Case 2 : Or else it may first retest the gap (support) 33800 and then move upward Morning price action may determine the direction. Long term resistance at 37000 if breaks then sky is the limit. Enjoy. Happy Trading.