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BANKNIFTY & NIFTY SUPPORT AND RESISTANCE FOR [16-06-2022]NSE:BANKNIFTY1! The market has been moving in a range and refusing to break the 33200 support zone multiple times. the bounce back is expected from this level. but the downtrend is still intact unless it breaks any swing high and forms a higher low. please find necessary support and resistance on the chart. NSE:NIFTY nifty major support 15650 tested multiple times and rebounded. sgx nifty signalling a positive start today any long should be only above 15900- 15950. happy trading , keep learning
NSE:BANKNIFTY
by SANJAYPATIDAR_
DR REDDY LABS - 30min DECLINING - SHORTIf we look the chart the accumulation occur after the price has fallen. The EMA 200 also started to flatten and the price was also below the 200 EMA. In accumulation we see the price was in the range. The breakout happend on 8Jun2022. After breakout of resistance the price was at Advancing stage. At this stage price is above 200 EMA. Currently the price was in distribution stage and the price whip back and forth around the 200 EMA. If the Price breaks the support of the Range then it will be in Declining stage. The price will go down if it breaks the distribution stage. We can go shorting for the next few days. Target is mentioned in chart!
NSE:DRREDDYShort
by Tamizhs
1
GBPUSD OUTLOOK 13/06/2022GBPUSD Trade Analysis- GBPUSD is bearish on the long-term outlook. The sellers continue to hold the GBPUSD market. The demand level of $1.2440 could not hold the price, in other words, the level could not withstand the pressure of the sellers. It penetrated the downside and exposed the price to the demand level of $1.22 today. currently, the price is sustaining at the minor support level of 1.2240 levels and if the price break that level it will move down further and we can see good downside movement.
by OAurthor
BANKNIFTY AnalysisSince pandemic BANKNIFTY has rallied from 16100.00 to 41000.00 plus levels. A clear impulsive rally we have seen from low to high as mark in yellow as Wave 1 , Wave 2 and Wave 3 as a Major Wave cycle. Wave 3 (Yellow) of a Major Wave Cycle seen to be extended in 5 sub waves(marked in green as (1),(2),(3),(4),(5)) fallowing all the conditions of Elliot Wave. Since completion of the Wave 3 (Yellow) a correction started and predicted to be complete at retracement levels of 0.50 or 0.618 which comes to 29000.00 below levels as marked in a green rectangle on chart where a corrective pattern A,B,C most likely to complete harmonically. This is just a prediction and not a view to take any position in market. Its purely academic in nature and once should consult his/her financial advisor before taking any action into live markets. View may change from negative to positive based on the change in fundamentals anytime. Current prevailing situations are not good for Banks & Financials so a downfall expectation is a personal view. Investment in Share, Futures & Options are subject to market risk. Risk involved here is the risk of capital involved. Stay safe. Keep Learning. Thank You
NSE:BANKNIFTYShort
by NANARKAR
U turn expiry.Day to mark, when the market opens with a huge 400 point gap up, and profit booking kicks in. I have an overnight position of 16600CE and 15700PE, which is a huge premium spike that went MTM loss of 25X. It hit harder than the market moved down. When CE started to melt down, I lost 4% of my capital, but I had seen a 10% loss in my MTM, so I decided to book 4% and did not adjust any positions. I have already booked nearly 1.5% of the legs that I rolled up this week. managed to exit with a minimum loss. Let's see how it ends this week. The market is actually not in a good mood.
NSE:NIFTY
by Manuadarsh