Important levels to watch mentioned in chart ✅ We can see rising wedge pattern which is also known as reversal pattern frequently seen in bear market !!! We can see some upmove to fill the pending gap in the first half and then continue its falling!! Make sure the levels are breached to take any positions !! All the LEVELS provided stands much important as...
Banknifty is trying to fill the gap it created and is reaching its previous support which will act as resistance now. Please watch the video for detailed explanation. Comment and let me know what do you think.
Buy Level = (Above 33050, Target 1 - 33200, Target 2 - 33500) Sell Level = (Below 32870, Target 1 - 32670, Target 2 - 32370) Please comment and let me know if you have any other ideas or observations or queries. Please feel free to reach out to me on Trading View.
Here you can see an inverted head and shoulder pattern . So there are chances of a bull move in BANKNIFTY . Share your view in the comment section.
The market is unpredictable; hence prepare yourself accordingly. Please comment and let me know if you have any other ideas or observations or queries. Please feel free to reach out to me on Trading View.
Did exactly what we discussed yesterday ~ opened above 33600 and one sided rally made till 33950 then the market remained sideways through the day NOW WHAT FOR TOMORROW?? Since BANKNIFTY remained sideways through the day it gave us the potential levels for tomorrow, we can also see INVERTED HEAD AND SHOULDERS PATTERN which is also a BULLISH continuation...
At crucial range which will decide the upcoming trends The range that must be kept in mind is 33200 - 33600 which is the most crucial levels and stands as NO TRADING ZONE for tomorrow Will only take trades If any of these levels are broken with proper candle close ✅
look at the supports bank nifty taking in hourly time frame ...creating demand zone step by step ....making higher lows ...indicating uptrend
A personal view on BNF.
Bank Nifty levels for Upcoming session : 21 OCT 2020 (30 Min chart used for analysis) Trading Range - 23160--24613/24766 *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. Trade...