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BankNifty Analysis for Upcoming Weeks Hi Friends, Pranam, Now we are going to analysis the BankNifty for coming weeks: In Weekly TF: Refer the Image, 1. Bearish Flag Pattern evidence 2. Index Closed in Support 3. Dynamic Support was in the range of 34435.13 & 32611.27 as per EMA50 & EMA79 4. MACD was Flatten 5. Stochastic RSI as per my View was nearing oversold Range. 6. ATR was average. Long Term trend is Bullish as per EMA200. In Daily TF: 1. Falling Wedge Pattern formed 2. BankNifty was in the support zone. 3. Index was taken the dynamic support 38394.41 and 37639.12 as per EMA50 & EMA79. 4. MACD was Bearish 5. Stochastic RSI was oversold Range. 6. ATR was average. 7. CPR was Bullish Bias Long Term Trend is Bullish as per EMA200. In 1hr TF: 1. Descending Triangle Pattern formed. 2. Bank nifty was taken support and traded near the trendline of the triangle. 3. Dynamic Resistance was at range of 39124.25 and 39283.90 as per EMA50 & EMA79 4. MACD was Bullish 5. Stochastic RSI as nearing Overbought zone 6. ATR was down. 7. CPR was Bearish Bias. Long Term Trend is Bearish as per EMA200. Conclusion: Trend was in Downside as per 1hr TF. Retracement candle was very small. For Short Term BankNifty will be in downside if brakes the support zone of 38400. Disclaimer: Kindly do your own analysis before executing the trade.
NSE:BANKNIFTYShort
by Caapinves
CDSL - Seems ready for the another burst?Category: Bullish Flag and Pole Pattern Key Highlights: 1. Sharp Bullish move visible. 2. Price taking support from one of the key support levels. 3. The reported earning are 40% YOY+ which is definitely positive with the increasing retail participation. Disclaimer: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk. Abhishek Singh (@Abhishek_TradersSin) ~ Middle-class IT Employee trying to simplify Technical Analysis . ~ Do follow and like if you like the work.
NSE:CDSLLong
by Abhishek_TradersSin