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Multiple Time Frame Analysis

NIFTY heading towards important resistance nowAs we can see despite nifty showing weakness in the first half! It showed strong recovery showing a potential more of up move can be witnessed which could be short lived. following the global cues as of now we can expect nifty to open strong around 19440_480 levels which should be a good place to short being a psychological level of 19500 is very eminent hence any signs of rejection around the given level could be a good opportunity to short so plan your trades accordingly
NSE:NIFTY
by Wealthcam
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