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Multiple Time Frame Analysis

BANKNIFTY at make or break level now..As we can see a strong recovery has been seen in bothy index despite being sideways in the first half. we expected a downfall below 43400 but it painted itself above 43500 throughout the day showing strength giving no signs of weakness. Now we can see BANKNIFTY trading at make or break level as this range of 44000-44200 had been acting as a strong resistance before and hence if BANKNIFTY opens flat then we might expect BANKNIFTY to get rejected at this level before finally heading towards its all time high. if BANKNIFTY opens strong, a better entry would be if it takes support at our given levels and any signs of rejection at given levels should be a good buy so plan your trades accordingly
NSE:BANKNIFTY
by Wealthcam
NECKLINE is yet to be broken down for confirmation of downfallAs we planned our trade yesterday that it has formed more like a head and shoulders pattern in bigger time frame shown signs of good downfall to come in coming trading sessions and also a change in trend but the neckline of the supposed pattern acted as a SUPPORT today despite being weak hence the more the neckline is tested the more it is getting weaker and bigger the fall we can expect with the break of the neckline ranging around 18630-18650
NSE:NIFTY
by Wealthcam
Good fall coming up in BANKNIFTY below 43400..?As we can see the level 43400 has been acting as a strong support till now despite weakness in other index but it has been tested almost more than 6 times already making it weaker hence any closing below 43400 level should give a unidirectional move of over 400++ points in the same day itself. Till BANKNIFTY maintains itself above 43400 levels we might see a range bound market leading to huge premium decay for option buyers so plan your trades accordingly.
NSE:BANKNIFTY
by Wealthcam
Trading journal 🥲 20 trades posted for you guys 4 of them got SL❌ hit without reaching TP 1✅. That's not the end of my trading 😅 ,no one is 100% accurate in any field. 80% win rate is satisfied for me to be a profitable trader as we can see some of them never touched SL and still keeps growing which is also a very good thing about this journey. Always trust your plans 👍 , Psychology tip:-Don't let FOMO interact your mind or trading plan. Sl tp entry always remain same..never change them once u have set. Just forget after getting into the trade..either hit tp or sl.. don't bring sl to more down and increase your losses or tp to more up to increase your risk of hitting it.
Education
by Akshay_Gour
Banknifty weekly analysis for last week of June (26/06/23).Banknifty on the weekly charts has been forming doji after doji and has lost 300 points on week to week close. It has been consolidating on the higher levels but nifty is not supporting the up move. As nifty is still to form a new ATH whereas, banknifty has formed a new ATH. On the daily charts, market has formed a perfect doji candle after a gap down opening. Banknifty has closed below the 20 EMA and if it breaks down below 43400 levels it can test the 200 EMA. The moving averages, on the hourly charts, have converged and are close to each other. Market are yet to decide the trend. Bearish moving averages crossover is there, on 15 minutes time frame, and market has been taking rejection from 20 EMA . Support :- 43400, 43120 Resistance :- 43760, 44050 Wait for the price action near the levels before entering the markets.
NSE:BANKNIFTY
by Mambotrade
Is this the end of UPTREND...?As we had been analysing since past few days that NIFTY just broke its trendline below and turned itself from uptrend to DOWNTREND with the break of previous swing leading to change of characteristics. Moreover we can see NIFTY has formed more like Head and Shoulders pattern which is also a REVERSAL pattern which could potentially change the overall trend to downtrend with the very break of its neckline. The neckline of the following pattern can be seen around 18650 levels on the break of which we can expect NIFTY to attain a psychological level and its next immediate swing at 18500 levels which can potentially act as a SUPPORT so keep watching everyone ].
NSE:NIFTY
by Wealthcam
BTC UPDATE 31k is our next target Looking at the big daily candles , it's a very very strong momentum. Which should break above the swing high. But bair in mind ,We also in weekly supply zone. Which is a strong resistance zone. As we can see the increased volume,hope it sustain the momentum. Again don't fall in any trades untill BTC becoms stable. Btc Dominance is high, Alts won't be reactive to btc proportionally. Let's wait and watch untill we see the breakout of 31k or a reversal.
by Akshay_Gour
NIFTY closed below its trendline! showing signs of weakness?As we can see despite a strong opening NIFTY couldn't sustain itself above 18800 neither did it cross 18900, on the breach of which we were planning to go long and was expecting a good upmove above hence now if NIFTY fails to open strong and rather opens flat to weak then we might see a strong downfall in the first half finally taking support at 18660 levels and the trendline now might act as a RESISTANCE now so plan your trades accordingly
NSE:NIFTY
by Wealthcam