HDFC Bank getting ready for Breakout
It has formed Narrow range of last 8 sessions and Inside bar candles in last 3 sessions
Making LH - LH structure
Consolidating above last 88 days support zone and sustaining after dynamic resistance (trendline) breakout and formed NR7
If Breakout above 1468 and sustained can go long with SL 1445 and momentum targets of...
Banknifty until fill the Island gab, it is buy trend only.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels. It is all your own risk.
We have seen a gap down opening followed by a good rally onward. Many Shorter and PUTS holder were trapped today. Sentiment remain sideways to little bearish. Important level to watch is 37774 and 37926 for Upper Side, Support at 37500, Probably we can see a gap up opening. Profit booking zone will be near 38000 plus level. As tomorrow is expiry stay lite. :)
NSE:BANKNIFTY
Banknfty is on the verge of a breakout on 4h chart. Ballistic move expected on the upside if it breaks and retests the trendline successfully.
All banking stocks look good on the upside.
Bank-Nifty SPOT Trade-plan for 20th Aug 2021
High 35821 - Resistances
Low 35450 34914 34401 33531 - Supports
Today Trend:
Fast fall....Closing will be around Today's Low
NSE:BANKNIFTY has closed at day's low today and with a weak closing. Took perfect support around 34500. Tomorrow is expiry so move can be in any direction or sideways. Let's see what happens tomorrow.
Banknifty may face resistance at 35000. 35200 is the major level to watch out in the upward direction. Follow the targets with trading rules.
Immediate resistance: 35000
Major Resistance: 35200
Major Support: 34800
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our occtans indicator has triggered "sell 2 " signal and after broke sell 2 signal low bank nifty down 100 point and still in trade.
In the daily chart, a bullish flag pattern has been formed which can attribute to a long position with a target of somewhere around 1246-1250.
Stop Loss can be around 1200.
