Bank Nifty levels for Upcoming session : 21 OCT 2020
(30 Min chart used for analysis)
Trading Range -
*Chart Pattern & Trend*
Refer the chart & see that Ascending Triangle formed .Hope, We can see gap-up opening on 21 Oct & then small correction possible.
If it break the level 24420 then it can move towards 24613 / 24766 &
If Fail to sustain...
if the white trend line is taken out in 15 mins and 1 hr time frame... an upside move is possible.
On the contrary if the red solid line is taken out in 15min and 1 hr time frame a clean downside rally till the solid redline at the bottom is possible.
It all depends on how the bnf opens up tomorrow .
Rest the market will decide.
1. If the blue trend line is taken out then you can expect an upward move in BNF. The targets being 21600 and further extension will be updated.
2. But there is a previous gap up that hasn't been filled and there is a possibility of a downtrend if the red trend line is taken out.
The rest market will decide.
The analysis is only for educational purposes.