Black trendline crossed As I mentioned earlier chart which is attached below and Redline is another major diagonal trendline.
I'm on the Bullish side at this level, But I still can't decide exactly what the market will do.
If the market starts with a green candle it may retest to 35375, wait to reject confirmation candle to go upside or
if it crosses down this red...
First, I recommend reading the previous report of BankNifty.
Link: BANKNIFTY Can't Wait to Fall – Even Without NIFTY's Help
According to technical analysis, Banknifty is trying to collapse. It needs solid support to reenter into the uptrend channel. The strong support is nearby the 34600 level. It will try to retest 35260 - 34880 - 34600 levels this week.
Key levels: 36496 - 37060
Bank Nifty was following the uptrend channel from Dec 2020, and it had broke on 02 March '22. There's a new parallel channel unfolded.
In the last trading session, Banknifty has created a shooting star pattern. And this pattern is a single line pattern that indicates an end to the uptrend. At the same time, it is close to a parallel...
In the previous week, bank nifty has lost -2027.3 ( -6.17% ) points, and according to this technical chart, it will keep falling after a short reversal. Because as per the Elliott wave theory, an impulsive wave ended at the 5th wave, and a corrective wave has started.
In the last trading session, it has created an opening gap, and also breakdown the strong...
BNF clearly starting the lead for bear,Looks like it gave a advance signal Last week itself as itcrossed 22810 & closed @22662, now if we are not sustaining 22800 levels continuously, we are heading towards 19100 levels its clearly visible.
I am absolutely unable to get a view on the markets.
Had banknifty moved just a little similar to way nifty moved, I was expecting a solid swing of around 350-400 point in total till this weekly expiry.
If anyone has any idea what can work as a trigger for tomorrow's trading, plz mention in the comments.
Yes, there is a trendline. But the ways zones have come...
Trading in its essence is very simple. Yes there are Elliot waves and all that, but they all always give you two options (anyone who does Elliot will understand). So in the end its always you who decides whether its looking like option A or B or sometimes even option C.
It goes without saying, no one in the market can anticipate just about every news or...
Zones are mentioned on chart.
India Vix is good, markets are giving good moves. Weekly expirys, Short coverings, Full mood Long buildups, bull traps or bear traps at just the opening are all aligning so perfectly. If one has been in the markets for say past 3-4 years and still isnt able to make money in this kind of market, well sir/ma'am,...
Zones are very easy to trade once one gets the hang of it. Mentioned on the chart are levels for tomorrow (the last trading day of this year).
Note: My primary trading account is with Interactive Brokers, which have scheduled off time on 1st Jan, 20. So, there probably wont be any Zone update for the first day of the next year.
Newbie's new year Quote...
Like always, copy the levels and trade on 3 mins time frame.
If you haven't traded with the Zones yet, What are you waiting for??
Check Historical idea on 3 mins time frame.
Dont be a Bull. Dont be a Bear. Just be a Hare.