Index
Bank Nifty- IndiaWhat are the odds? I think there is a good chance we get a fake-out (false breakout) on higher timeframe here, maybe to even 37000 and then slow bleed and consolidation to 30k till end on year.
I am personally not buying anything here. Maybe scalp longs here and there but will wait for 30k to load up anything from swing-trade or long term point of view.
Stay tuned.
Index BreakoutIndex corrected 20% from top.
Strong support on lower level's.
Clear sign's of bottom formation and breakout is evident.
Falling Channel breakout and consolidation near breakout zone is giving strong confirmation.
MACD and Rsi too supportive.
Rally ahead.
Pullback's is excellent entry point's here on.
NIFTY 50 Trading in index is become so frustrating due to the war and USA inflation.
so it is better to stay away from the market and wait till everything calms down.
even though FII knows what the fed is going to do but still they are waiting for the interest hike data because they are preparing
whether to crash the market immediately or gradually.
so it is better to not hold any overnight positions.
and ya the interest hike they are going to announce will definitely affect everyone not only the traders.
Fed system is always like
privatize the profits and socialize the losses
NIFTY hourly view for 6th June onwardAs per the chart on hourly basis NIFTY is showing little bit bearishness. Though 16400 in spot will be next strong support zone where it took resistance for multiple times previously. Below this support area, it may fall towards 16200-16150 which is though not very strong support area before the major demand area as shown in the chart. On upside 16800 will strong resistance area, only above this one must try to go long for the target area 16960-17140.
Conclusion: Idea is to find shorting opportunity in NIFTY as per author's own view :)
bank nifty analysis for 30/05/2022As a pervious video shared showed there might be a down side because of the rising wedge pattern (only if there is not a gap up day) and unfortunately there was a huge gap up day of almost 150 points and we didn't took a trade on that as said before the conditions . today's video is all about the next move