BANK NIFTY IN ACCUMULATION MODEBANK NIFTY IN ACCUMULATION MODE ON HOURLY CHART AND 4 HOURLY CHART
RISK/REWARD FAVORABLE EITHER WAY 18000 OR 18800
NOTE:-CHART IS FOR EDUCATIONAL PURPOSE ONLY NOT INVESTMENT ADVISE.
Hourly
W pattern BHEL BUY !Here exists a beautiful W pattern buying opportunity in the stock. The second bottom has shown a divergence also. Normally the target for the W patterns are big reaching the area from where trend started, let's see how this stock moves. Good risk to reward ratio. WEducational purpose as I am not trading it.
BankNifty - God save the Bulls/Bears Point of inflectionBankNifty closed right at the top of the flag/channel. If it breaks out, god save the bears else god save the bulls.
BankNifty - Upate to previous Hrly viewThe previous hrly view was to look for shorts at around 19750 (spot). Todays move has got that perfect (almost).
Now look to book part at 19480-460 levels. If that breaches and sustains, god save the bulls else back top the top.
Hindalco - a bounce expectedGood support area with Sl pretty nearby. A good RR long here imo with 156-162 possible.
Nifty - the Shorter TFAs we see - RSI has already broken down, so looking short on the shorter TF too.
TL touch should be there, if broken, 8770-60 on the NF offers good support as it has been umpteen times
but but but ... a support tested multiple times gets weakened. IF that is broken, then we review, till then
T1 he Trendline and then maybe 8770NF.
