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
The reason why I mentioned trade today is one should enjoy trading intraday.
Don't guess tomorrow - Price is a subset of EVENT/NEWS + VOLUME, so we are not certain about the News/Events that flow into markets.
So keep guessing about tomorrow disturbs our sleep and peace of mind.
If you are trading in F&O, World's renowned statistician Steidlmayer mentioned that...
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 earlier...
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 that...
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
