Currently Bajaj finance is range bound. 3125 and 3380. these are the extreme ends where it is seeing a strong level of support and resistance respectively.
It can only move towards the next zone and hit 3700 levels once it crosses and sustains 3400+ levels for a complete day trade.
Looking at the historical moves, we can see that whenever such level of...
Chart structure looking weak , expecting sharp fall below red line
green line will be the next target !
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DISCLAIMER
{ Educational Purpose }
All investments involve risk.
Please Do your analysis before initiating any trade
GOOD LUCK !
#banknifty:- Nothing has changed, the structure is still bullish (last 2 days repeating the same thing)
SL for all long trades:- 21,350
Decision Zone 22,691-22,919, 228 point no trading zone.
Resistance Zone:- 23,000 - 23,100
Suupport Zone:- 22,022 - 22,170
52W H :- 32,613
52W L :- 16,116
38.2 % 22,428
50.0 % 24,365
61.8% 26,311
Wave 2 is 21,967 to 17,195, so...
#banknifty:- Nothing has changed, the structure is still bullish.
SL for all long trades:- 21,768
Decision Zone 22,832-22,752
Resistance Zone:- 23,000 - 23,100
Suupport Zone:- 22,374 - 22,442 / 22,022 - 22,170
52W H :- 32,613
52W L :- 16,116
38.2 % 22,428
50.0 % 24,365
61.8% 26,311
Wave 2 is 21,967 to 17,195, so 50% of this wave is 24,398 which coincides...
#banknifty:- Pls avoid shorting.
Decision Zone 22,442-22,374
Resistance Zone:- Don't see anything :) till 24,365.
52W H :- 32,613
52W L :- 16,116
38.2 % 22,428
50.0 % 24,365
61.8% 26,311
Wave 2 is 21,967 to 17,195, so 50% of this wave is 24,398 which coincides with 50% of the fall 24,365.
As per wave structure, the next logical target above 22,418 is 24,365.
Expecting a long breakout on Axis Bank.
Financials have been muted last week, trading in a narrow range, with low volume. The breakout may test the post-covid highs at 481.
STRATEGY:
BULLISH PENNANT FORMATION:
The breakout can be confirmed by the price sustaining above the top trend line.
BUY: CMP
SL: 418
T1: 465
T2: 485
The horizon is upto 2 weeks, but the...
Bank Nifty has been weak for past few sessions.
Breach of 21446 and 22334 will decide further direction in near term.
Important resistances an supports are mentioned on chart.
#banknifty is struck in broader range of upside and downside from 24th June to till date.
The decision zone is , upside +ve and below -ve.
The wave structure is not damaged and is intact for the last 8 days, decisive big move either side is on card:-
Upside target of Wave 5:-
61.8% 23,420.72
100% 24,009
138.2% 24,597.28
The whole structure will get...
#banknifty consolidating is 900 points range from 20,900 to 20,800 in the last couple of days.
I have reduced my long position today from the index, any breakdown or breakout has to be traded.
SL of the directional trade can the decision zone (which has been kept intact today).
Don't play the trend line, what for zone breakdown confirmation before going short....
