Look at the chart.... Are you getting in any clarity? I am not.... What we see is what we trade and not what we feel...... Right now.... Nothing. Other than the fact the hourly dynamic support was broken today only to reverse back and make thing difficult for us.
Bank Nifty Trade Plan for 16 Aug 2021 BANK Nifty too looks bullish and expecting a flattish opening. 36087 is a good support and any retest to this level and support confirmed we can go long and wait for upper targets. A breakout above 36235 is again a good buying opportunity for Target 1 & 2. Prefer go short for a quick short target on breach of CPR.
Understanding trends through support and resistance.
In case Bank Nifty takes out 34860 then we can expect some good move. If BN opens flat then watch out for support around around CPR and then possible look for some long opportunity. Break out trade is safest bet in BN today.
Bank Nifty likely to open flat and if takes out 34613 on the lower side we can expect it to test out previous session low and we can expect some reversal from there. In case if that is compromised we can expect it to test weekly support around 34400. If case if 34613 provides some support then we can again expect Bank Nifty to test out 34850 & higher levels.
Do follow the trend lines and hit the follow button (it is free) for more updates stay tuned . i regularly post on trading view so make sure to follow me.
understanding trends through support and resistance.
everthing mention in this chart, red line is exit green is take profit.
Bank Nifty is moving in almost Parallel channel pattern. Today low is made and taken very nice support at bottom line. We may go long here for Target close to 36000 with SL below 34780. Holding period week.
Currently banknifty trading near support level of wedge pattern. According to wave analysis more chances banknifty give reversal from its support level. After reversal next target possible in banknifty is 35950+ level. Strong downside upto 34050 level possible if it gives breakdown of this support level.
understanding trends through support and resistance.
Hello Traders, Following are my analysis: Resistance Level : 1. Good Resistance Zone exists at 35700-800 and 36200-300. 2. Strongest Resistance at 36000 . 3. Strong Resistance at 35700. * Increasing resistance above 35700. Support Level : 1. 35000 is Strongest Support Level . 2. 34500 is a Strong Support. 3. 35200-400 is Good Support Zone . Sideways...
Good evening, For tomorrow, my view is slightly on the neutral side as the level that BNF has reached is a strong PRZ. We may see a reversal from this point. If we do... Short entry is at 35100 Target 1 - 35000 Target 2 - 34900 Target 3 - 34700 to 34650 However, if the market carries today's sentiment and sustains over 35300, then we'll see Long entry is at...
Market responded exactly the way we discussed, it was more like one sided rally for 400++ points but now stands at a crucial level as you can see multiple rejections and reversal can be seen in these zones from 35300-35500 wherein BEARS have always overpowered the BULLS NO CLEAR DIRECTION FOR BANKNIFTY UNLESS 35500 is breached with proper candle close Expecting...
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
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...