Looking at the charts if the resistance is broken, we'll see a trending Monday..
IMPORTANT POINTS 1.CLOSING BELOW 21000 TGT 19500 1.CLOSING ABOVE 22000 TGT 23000
Major Demand Zone @ 21000 and 21500. Major Supply Zone @ 23000 to 23300 Choppy move is expected between 21900 to 22500. This zone will be sideways to positive zone foe me. Once it will sustain above 21800 I may take a short position in 21000 put. Fresh upside move is expected if it will manage to sustain above 22500 and in this case I may take a long position...
Breakout expected at either level. Take your position depending on which way BankNifty go.
HDFC Bank is looking bullish. It has turned into a bullish structure and it is a great stock for intraday. 31st July, the first 30 min candle confirmed selling climax due to the huge tail of the candle, which suggested demand, on back of relatively high volume. The down move which followed SC, was on back of very low volume and the first volume expansion was...
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.
NIFTY BANK can move a minor pull back and can start the fall
Banknifty is looking weaker than Nifty due to various reasons. Banks have been affected in the lockdown and hence this has also affected their profitability and hence Banknifty has been trading weaker. Institutional investors' views are also looking bearish on Indian Banking sector, or else by this time, they would have started accumulating various Banking stocks,...
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...
Hi Traders, 1. On 28th July 2020, I wrote in point no. 1 of the trading plan is quoting as proof of how early tracing of change in trend helps many positional traders to go wrong in their trade. " See I made a pink line at the bottom which indicates if it breaches then any positional long should be covered. In fact, the first 15 min candle if the...
Note: This is for educational purpose only. Bank Nifty unable to break resistance (23100 - 23150) thrice. Moreover, there is a bearish ascending triangle breakout on daily chart. Same is reflected on RSI trend line as well. RSI below 50 indicates loss of bullish momentum.
As per the Breadth Indicator, Short BankNifty Option Prediction at 11 AM: CMP 21550 Target 1: 21350 Target 2: 21220 SL: 21650 Take it with a pinch of Salt! Happy Trading! NSE:BANKNIFTY
Resistance 22073 Support 21404 Can go with PE
Prediction at 12:15 PM: SHORT BANKNIFTY OPTION CMP: 22170 NSE:BANKNIFTY Based on the Breadth Tool Analysis, 1st Target: 22024 2nd Target: 21866 SL: 22313 (Strong Resistance at 22285-22325 area) Take it with a pinch of Salt. Happy Trading!
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...