Bank Nifty has been following this trend channel since and it should continue in this, until it break.
Go short If break below.
Wait and see it breaks up ward
BANKNIFTY looks week below 21640 so we might be entering Short trade if moves below 21640.
In the banknifty 30 minute chart we can clearly observe that price was moving in a channel between green & black line which was eventually breached.
But it took support at the red trendline and again retraces till lower side of channel and falls again and breaks red trend...
banknifty was in a pattern for a long time after the initial corona crash , and now it is showing us some bullishness , by breaking that pattern , we don't know whether it will open gap up or gap down , if i get a touch again on that zone
Down trend is expected to continue in its final leg down
Strong Resistance seen around 21064-489-867 levels, if the levels held T1-19923 & T2-18897 is quite possible
Breakdown study was applied on the BANKNIFTY which has appeared breakout.
buyers can try this level, 30008. In fact two strong has it, another is at 29730.
Sellers will continue to enter the market either new short or as long forced to liquidate until some point when buyers coming in.
We are going to see high volatility in coming this week as I told you...
Yes, I'm Back to Tradingview !
Before the analysis, I want to thank each n everyone of you for all the love, Thank you so much for your messages & people who gave follows even when I'm not available. Thanks for the Trust & Love :)
It has been more than 100 days since I posted & from now on I will try to post more often.
Now Our Nifty analysis :
Let me put...
Seems we are in final wave from the low of 17607 so caution should be exercised in long positions.
Seems wave (iii) may have ended and Irregular Correction is unfolding in wave (iv). If its a case then Wave C can extend till 123%-138% of A, where initialing a long would be prudent.
Negation above day high.
It is been observed that the price action is trending up on the daily chart and reaching above the 52w highs. Now, it is taking support at 86.50-87 levels and moving up again, indicating a trend continuation trade setup.
Target: 91
Stoploss: 87
