Marketstructure
Banknifty analysis - logic and planEXPLANATION : This is a 15 min time frame chart of BANKNIFTY . It has been consolidating at previous Resistance zone and formed the Evening star pattern . ( An Evening start is a candlestick pattern that is used by traders for analyzing when the uptrend is going to reverse to a downtrend ) If give a strong breakdown and continue his pattern , I am bearish on BANKNIFTY . If give a strong breakout and retest ( Resistance become Support ) , I am bullish on BANKNIFTY . Levels are marked in chart , enter as per your setup .
Nifty Fut (Daily TF)Nifty currently seems like forming a Bull Flag kind of pattern.
We can initiate a entry after a candle close over 15800 levels on atleast hourly chart.
Targets can be round levels of 15900(intraday) 16000 and 16200(swings).
Market Seems like bullish after nifty sustains above 15900 level but for short timeframes.
Overall market is still bearish on weekly and monthly charts.
Reliance Parallel Channel Strong Confluence Circle I daily make market analysis videos and posts on Financial markets
SR means Support and Resistance
PC means Parallel Channel
Disclaimer: The information provided is for educational purposes only. Our intention is not to provide any financial advice, don't take any decision without consulting your financial advisor.
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!
What next? Reversal to 17k or 15kSince the Last blog on Nifty, we came across plenty of news, including repo rate hike, Fed rate hike, war-related tension, and inflation.
The entire global market reacted to it with extensive selling.
In the Indian market, FII has sold more than 17000 crs of their holding, which is equivalent to October 2021 stats but this month we still have half a month to go.
On the upside, the market should close above the 16400 in the coming week.
And there should not be any exhaustion gap below the 15600 level which is the next support level, in case this happens we may see a strong sell-out and the price would go to 15000. This level depicts the VAL level, which lowest price level within the area.






















