HELLO FRIENDS,
HERE IS SIMPLE TRADE SET UP FOR BANK NIFTY, BANK NIFTY IS NOW IN VERY NARROW RANGE AS PER OUR HIGH LIGHTED BOX NOW BANK NIFTY ONLY BUY ABOVE 22765 FOR THE TGT OF 23500 AND BANK NIFTY SELL BELOW 22000 FOR THE TGT OF 21250 AS PER OUR VIEW MAJOR SUPPORT IS 21000 AND RESISTANCE IS 25000.
HAPPY TRADING FRIENDS.
Today expected slightly gap down opening in banknifty due to global triggers. If its successful breakout the yesterday's high then we will see a further rally of 300-400 points due to short covering of expiry session.
Today expected gap down opening in banknifty. In today's session, strong support is 22030 and more chances banknifty reverse from this level. In the first half if it's trading above the 22500 levels we will see a further rally towards the 22900-23000 level.
Today expected flat opening in banknifty. If it breakdown the 22000 levels then we will see the next fall towards the 21450-21500. The current small range is 22000 to 22550.
Hi Traders,
1. On the 5th of Sep 2020, I did not provide any second support why? If you see the fig of that day analysis, I provided only one red color support not second. Old followers know when I manifest the move of the next trading session or week I always mark two support and resistance in my fig. This is the first time when provided only...
Price forming a pattern exactly at the parallel channel support. Look for the breakout and trade accordingly. I expect the price to take support and break the pattern upside. Bank sector chart also in parallel channel and exactly trading at the support.
We have a complete analysis in our previous Post, I was waiting for Wave 1 to complete; Its verified Wave By Wave and Now Wave 2 is forming which is a Flat structure; Wave A and B are almost complete; Wave is the the last Impulse and then we get the MOST AWAITED WAVE 3in downward.
Today expect slightly gap up opening in banknifty. If it's successfully breakout the 22500 levels then we will see 300-400 points upside rally towards the 23000.
Price into a parallel channel and rejected at the top exactly as expected. I din't expect so much strong rejection as the price was completely in a super bullish mode.
Another pattern to address is Flat bottom and raising top pattern. According to this pattern also price was rejecting exactly at the top of the trend line.
It is not advise to take a new trade...
Today expected gap down opening in banknifty. If it's trading below 22450 we will see further fall of 300-400 points. Next stronger support reversal chances from near 22000 levels.
