BANKNIFTY (07-SEP to 11-SEP) WEEKLY POSITIONAL TRADE SCENARIO 2This Idea is my view.
U like try this otherwise neglect this.
Bank nifty volatility high in this week.
Use Strict Stop Loss.
SCENARIO 2 -> SELL SIDE
Niftybankanalysis
BANKNIFTY 07-SEP-2020 DAILY ANALYSISBanknifty going sideways.
Banknifty Range - Upside(22200-22250)
Downside( 22680-22730)
Its my view. If u like try this otherwise neglect this.
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.
bank nifty bank nifty break upside 22380 above strong buy
tgt for buy 22550,22745
as well as break down side 21800 below strong sell
tgt for sell 21560,21384,21003
market going asending trangle shape
Pitchfork Analysis Bank NiftyWill be interesting to see what happens between 21600 and 21590. If Support is available then reversal or continuation. Look out for price action at these levels.
INDUSIND BANK - BULLISH - SHORT TERM . BEARISH - LONNG TERM.INDUSIND can be sold at highs , if it breaks 517 levels , it will be bullish .
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.
Nifty bank chart structure looking weak !Chart structure looking weak , expecting sharp fall below red line
green line will be the next target !
.
DISCLAIMER
{ Educational Purpose }
All investments involve risk.
Please Do your analysis before initiating any trade
GOOD LUCK !
BANKNIFTY TRADING IN A CHANNEL.banknifty is trading in a parallel channel with upper resistance at 20975 and support near the lower channel 20145.A close above 20975 can see further upside and a close below 20145 will see the market testing back the day's low in near term.For intraday this zone can be traded for returns on both sides.
BANKNIFTY NEAR SUPPORTbanknifty is near its support of 20145 a closing below this will help the bears in filling down the lower gap of 19250.If it takes a support at that level then we can see a rebounce and it might test the upper trendline resistance.
BANKNIFTY LATEST UPDATE...NOW AS WE HAD MENTIONED IN THE PREVIOUS CHART 19500 ZONE WOULD BE A TOUGH RESISTANCE AND TO BREAK THAT A GOOD GAPUP HAS HAPPENENED.INTRADAY LONGS CAN BE INITIATED ONLY ABOVE 20250 FOR A TARGET OF 20875/21125.THIS TYPE OF GAP UPS ARE REALLY BECOMING A PUZZLE TO SOLVE AS ALREADY WE HAD WITNESSED TWO ISLAND REVERSALS IN PAST BECAUSE OF SUCH GAPUPS.
BANKNIFTY what's next?banknifty has cleared its first resistance near 17825 and with good volume,next big resistance lies near 19045/19540.19540 will act as a very good trendline resistance closing above this level will lead to 20150/21100.
