Bank Nifty post market analysis on 22-02-2021Bank Nifty post market analysis on 22-02-2021
Short opportunity at 9:35 candle's low with 1:2 risk reward ratio
Reason : Market has retested 19th breakout zone and formed a bearish pinbar candle at 9:35 am. We should have taken Short position below 9:35 am candle
Second time Short opportunity at day's low breakout at 11:15 an candle with 1:2 RR
Disclaimer : All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
Banknify
Will Dollar index spoil the BNF Budget Rally ? The BNF on the budget day gave such a massive green candle, now big question is - will there be a follow-up or consolidation or reversal
When BNF is in full swing applying any rational thinking becomes meaningless, the script has texture, nature of its own which is quite dynamic . When it picks momentum it just doesn't listen to itself just keep accelerating :) Good day for all CE buyers.. 300-400-500-900 lol
What caught my attention today is dollar index - it is forming an inverted H&S on a daily time frame. It may or may not break out. but if it breaks out, it does have the capability to pause BNF rally, when I say pause - BNF may consolidate or correct a little.
So keep a watch on dollar index tomorrow and for next few days
Happy Trading
MSK
Short BANKNIFTY below 21640, Trendline & Channel Breakout!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 line.
Now it shoes some retracement which eventually moves Banknifty Down if this setup works, thus we will be entering short in BANKNIFTY below 21640 for Targets of 60,150,300,500+ points as our targets and sl as per your risk but technically support was available around 21950-22000.
Always maintain Risk : Reward ratio.
Regards,
BANKNIFTY: Sellers will continue to enter the market either new.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 in post.
I will update BANKNIFTY accurately in this post tomorrow morning.
Nifty : Mujko Pehchaan Lo... InsiderB is Back !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 in simple manner & if you have doubts, as usual you can comment your queries & I will try to explain.
(i) Bull run from 7900's to 9300's without any retracement (pullback) thats 16% gains in 100 days. Thats a tremendous bull run, so definitely a pullback or correction expected
(ii) Nifty forming higher high & RSI showing bearish divergence, ( Negative sentiment )
(3) People who followed Me for long time knows the Gap theory we believe : " Gaps will be always filled, No matter what "
(iv) So Gaps in the zone of 9000's will soon get filled, my expectations
(v) Check where Nifty retraced, right at 1.272 extension of previous Bear rampage.
So, in short 9000's are expected in Nifty sooner. If any alignment / format probs bear with Me, it has been long time since I posted.
I got few queries like, any signal service or mentoring or pvt.whatsapp group : No Guys, not doing any of that. But I will be here to answer all your queries :)
Note : As it has been long 100 days, I will make myself available to answer your queries in comments...
Thanks for all the Love & Support :)
Banknifty probable EW countsSeems 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.