Niftybankanalysis
#banknifty intraday levels for Wednesday 14-10-2020NSE:BANKNIFTY
each levels act like support and resistance so one can trade on 3 min , 5 min 10 and 15 min as pet their intraday trade setup.
don't loos you hard earned money without proper knowledge of trading.
invest in learning then in vest in market.
NIFTY BANK LOOKING FOR UPSIDE FIRE FOR RANGE 25700-26000-26600NIFTY BANK, As we have seen that it has not made much upside compared to nifty 50
Current scenario says that Nifty Bank can go more upside in which hdfcbank and indusind bank also looking bullishness for short term basis.
BANKNIFTY TRADING WITH BREAKOUT ITS RESISTANCE
BREAKOUT @23650
UPSIDE ZONE AFTER RETRACEMENT -- 25700-26600
NOW SUPPORT ZONE @ 23750
15 TRADING DAYS EXPECTED TIME
{VIEWS ARE ONLY FOR EDUCATIONAL PURPOSE.}
BankNifty- Leading Diagonal Scenario Leading Diagonals have 2 forms or shapes which is rarest of patterns seen in the markets
1st form - can be 5-3-5-3-5 structure (upside or downside)
2nd form- can be 3-3-3-3-3 structure (upside or downside)
Bank Nifty ( Possible 2nd form) unfolded from 24th March 2020
In the current scenario ( a possible example of 2nd form i.e. 3-3-3-3-3- could have unfolded in Bank Nifty) - i.e. ( Wave-i circled is yellow wave - (w)-(x)-(y) ) & so on.
When all global markets turned upside in March 2020- Most of us thought, it could be upside bounce soon to reverse down ( which is a very common reaction because we had a severe correction on account of Covid19 or Corona Virus) & we still struggling with the tricky situation thinking that some big corrections could unfold soon & has tested the patience of majority market participants.
Support & Resistance for Bank Nifty
1st Support -21400
2nd Support-21000
1st Resistance-22700
-------------------------------------------------------------------------------------------------------------------------
Note
This is not a trading call. Kindly do your own due diligence. Consult a financial advisor before taking any trading based on this view. Purely for Educational Purpose
-----------------------------------------------------------------------------------------------------------------------
Bank Nifty Levels to tradeAs per yesterday's post bank nifty touch 22,000 levels. In fact, broken with huge strength. Excepting this bullish movement to continue till 22,500 or 22,600 levels. Buy on dips till 22,500. Do watch price action before taking any trade.
Please Note - All the green lines mean the support zone/demand zone
and all the red lines mean the resistance zone/supply zone.
Bank Nifty Levels to tradeThere was huge buying in Bank nifty in the last 1 hour of today's trading day. tomorrow if the US market and SGX nifty are positive then the Indian market can open gap up and we can see bank nifty heading towards 22,000 levels. Also, there is too many resistance levels around 22,000 levels which suggest It'll be hard for Bank nifty to cross and sustain above 22,000. Do watch price action before taking any trade.
Please Note - All the green lines mean the support zone/demand zone
and all the red lines mean the resistance zone/supply zone.
NIFTYBANK DOUBLE BOTTOM, a Bullish Sign$NIFTYBANK DOUBLE BOTTOM, a Bullish Sign
A double bottom is made on Chart.
If breakout We may see the level of 23425
in the near term. Support is around 22490.
Updated on : 23 July 2020 1.00am
Disclaimer: Only for learning purpose.
if you like press Thumsup Button.