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BANKNIFTY analysisBUY SIDE As recently Bank Nifty made a new high just above its previous high so now it is in the wedge pattern which is looking for the support and near by good support is of 40500. Thus we can go for long in Bank Nifty upto next high level or for a double top pattern..... SELL SIDE As BANK NIFTY rejects from its previous high and continously going toward its supports thus support level of 40500 once breaks can lead to long short position. A small short position can be made once that small trendline breaks thats its following to move upward upto the level of 40500 max and can follow above move. NEUTRAL Bank nifty can stay in the range of 500 points from 40500 to 41000.... also we can see some resistance building above 41000 to 41100 which is rejection level. Once nifty crosses that level then we can see a full-bullishness in the index.
NSE:BANKNIFTY
by SUTHARTRADE
2
ABCAPITAL : Increasing momentumBased on the chart pattern and last couple of movements - we should be able to see 124 will be the next immediate target - if sustains current levels. Few points : 2022-07-18: Crossing 4 week High, Crossing Weekly, and Monthly Pivots Upside. Close is above D-20 SMA but below WK/Month 20SMA. Close crossed D SMA-13 Upside. Normal NR7 - Breakout 2022-07-22: Volume is Monthly HIgh, Trend Changed +ve 2 days Back. Close is above Weekly 20-SMA. The monthly trend is -ve, and the Weekly trend changed to +ve today. Price Crossed Upside Monthly 50-SMA. Also Close crossed Weekly SMA-13 Upside 2022-07-26: ADX is >25 and DI+ is > 33 2022-08-01: ADX is >31 and DI+ is > 37 Close is above 20 SMA on Daily/Weekly time frames. Please add to watchlist.
NSE:ABCAPITALLong
by rvc8280