BANKNIFTY important levels to watch as of nowAs we can see BANKNIFTY again showed strong rejection from our demand zone and showed strong upmove from that very demand zone. Also we can see BANKNIFTY forming more like double bottom pattern and the neckline being 40800 hence we can see BANKNIFTY showing uptrend hence any gap down around demand zone we can again see huge uptrend around it hence unless 39500 is broken below every dip is a buying opportunity
Multiple Time Frame Analysis
BANKNIFTY closed in our range.. very crucial range As we analysed BANKNIFTY showed strong upmove based on the analysis but got rejected around 42000 which we expected around 41700 and fell straight up 2000++ points to 39500 which was our strong SUPPORT and reversed exactly from our levels hence we can expect BANKNIFTY to remain sideways to volatile in this range and now confirmed rally can be expected unless either of the levels is broken and sustained either side so keep watching everyone
Where is BANKNIFTY heading next..?As we can see BANKNIFTY reversed exactly from our zone and showing unidirectionally upmove now closed at very important level of inflexion, not taking consideration of the oncoming budget, watching technically we can see BANKNIFTY strong and ready to fill the gap till 41500 which is its next psychological level but it could be done with immense volatility so keep watching everyone
BANKNIFTY reversed exactly from our psychological levelAs we can see BANKNIFTY exactly took support at our psychological level and reversed exactly from there and moved over 1000++ points from there now closed above 40000 psychological level hence as long as BANKNIFTY is sustained above 40000 level we can still make new long positions till 41600 so keep watching everyone
BANKNIFTY at its strongest support and a psychological level nowAs we can see BANKNIFTY fell one sidedly as we analysed now it can be seen trading around its psychological level of 40000 which is a strong demand zone, we might see BANKNIFTY to fall further below 39500 but closing abpvw 40000 is something we are looking for another uptrend to continue so keep watching everyone
BANKNIFTY at its very important SUPPORT As we can see BANKNIFTY finally reached its strong demand zone and a psychological level of 41500 and closed above given level now we can expect BANKNIFTY to open strong tomorrow and if fails to open strong and opens around 41500 level, any signs of reversal around this area, new buying position can be made but if fails to sustain itself above 41500 level then we can see crash like scenario coming up in BANKNIFTY anytime sooner so keep watching everyone
NIFTY might consolidate before finally breaking As we can see depsite the gap up opening, nifty couldn’t sustain itself and fell down over 120 points and it is pretty evident that when market makes some pattern pretty obviously it tends to work against it the very next day if opens with huge gaps but there are higher chances of nifty breaking above towards its new all time high anytime sooner
Finnifty Confirm Targets for 25 January Finnifty One Hour Chart Analysis For Intraday Trading
Support Zones For Finnifty Intraday Trading
First Support Zone For Finnifty – 18845 - 18855
Second Support Zone For Finnifty – 18750 -18760
Third Support Zone For Finnifty – 18450 -18460
Resistance Zones For Finnifty Intraday Trading
First Resistance Zone For Finnifty – 18960 - 18970
Second Resistance Zone For Finnifty – 19100 - 19120
Third Resistance Zone For Finnifty – 19194 - 19204
Importent Signal from finnifty Option Chain Analysis
PCR ratio as per Option Chain Analysis – 0.72 ( Bearish )
Max Pain as per Option Chain Analysis – 18900
Major Resistance as Per finnifty Open Interest Analysis – 19000
Major Support as Per finnifty Open Interest Analysis – 18500
NIFTY in more like inverted head and shoulders pattern now…As we can see NIFTY has formed more like an inverted head and shoulders pattern which indicates a strong uptrend in coming trading sessions! important levels to watch is 18170 levels which is also yesterday’s high and a neckline to break for uptrend to continue in NIFTY
Crude Oil looks Extremely BullishCrude is bouncing from a very good Demand Zone in WEEK Time Frame and is near to the neckline of Inverted H&S in DAY Time Frame.
Buy when Breakout above Neckline
Buy above 6750
Tgt 7250 - 7600
SL 6500
Disclaimer: These are my personal views and are for Educational purposes & paper trade only. Please analyse yourself also and consult your financial advisor before investing.
SbinSbin is in many trader's watch list and the expectations are building up. In daily time frame price is at trend line support. And in one hour chart, price has formed a triangle. Price is bullish if it sustains 596 - 604. Buy above 604 if the triangle break out has volume strength with the stop loss of 598 for the targets 610, 616 and 622. If the price shows bearish strength, then it will try to take support at 578 - 584 level.
Strong upmove above 42700 coming up in BANKNIFTY As we can see BANKNIFTY had been consolidating since last week now and no significant move can be seen past 6-10 days hence we can expect a strong and unidirectional move in coming trading session anytime sooner! for the above move to happen banknifty needs to break either of the levels which includes 42700 being a strong resistance and below the level to be broken off is 41500 which is also a psychological level hence until and unless either of the levels are broken and sustained one must not make any new position and wait for proper entry
NIFTY might show 18250 anytime sooner before rejectionAs we can see NIFTY had been moving up unidirectionally after breakout and hence we can expect a rejection anytime sooner around 18250 levels which had been an influence point previously and also a psychological level hence we can expect the rally to continue till 18250 before the rejection is witnessed so keep watching everyone
BREAKOUT DONE..? NIFTY ready for big move..?As we can see NIFTY being in range finally broke out of the trendline and also closed above psychological level and important support of 18000 hence we can expect NIFTY to show some great upmove till 18000 is sustained above and not broken down hence as flat opening can show the continuation of uptrend hence we can start making new long positions from here
NIFTY in very tight rangeAs we can see NIFTY had been trading in downtrend since 2 weeks ! now we can see NIFTY had been trading in range now but that states that a very big move is emminent which could be both downside or upside hence we must look at some important levels for now which are 17800 and 18000 which is a tight 200 point range hence we should wait for either levels and sustain above or below levels hence keep watching everyone
43000 coming up anytime sooner in BANKNIFTY As we can see BANKNIFTY has formed more like a W patteen in smaller time frame which is also known to be a trend reversal pattern and a sign of bullishness hence we can expect a strong upmove from here hence we can prepare for upmove for now till 43000 is achieved which is its nxt important and psychological resistance