#banknifty weekly time frame hammer pattern formation
Much-needed correction looks over in the market and we are heading back to ATH.
If you don't do fishing in muddy water, then forget about creating wealth.
#banknifty 20 DMA placed at 40,183 and -2 Standard Diviation is placed at 38,440, so below 40,182, 38,440 becomes a logical target.
Laxman Rekha for next week is 39,550 (If the price crosses above, don't be short)
The market is expected to take support from 38,541 to 38,790 levels and bounce, 38K doesn't look like to get violated.
This is a knee-jerk before the...
On September 28, it was suggested that Nifty is near 240 day EMA and that 17166-17320 zone might act as short term resistance and short term support being around 16300 odd levels.
Well, Nifty has made a high of 17187 thereafter and and now is back at it's 240 day EMA.
For the October month, Important Support and resistance levels going forward
Banknifty may open near 39450-500. If banknifty directly touch 39771 then avoid buying in between these. If it retraced back towards shadded zone then one can take entry. As banknifty is bullish so we can take buy trade at proper area.
Banknifty Future buy above 39352, Target 39440,39541, 39771. 39772 is a danger zone. Banknifty can reverse from here. so we have...
we will see out performance in Nifty as compared to BankNIfty.
Banknifty Future today may open near 41400. If BNF sustained below 41410, 41262 is first target, 40990 is second target.
If 40990 breaks in second half, then next target is 40836. but if it is tested 40836 sentiments may go in the negative zone. But bulls are in control now, so, from the 40990 level...
Last Sunday, I mentioned in live class that Banknifty should take support in my mark area and there after it will be bullish. Banknifty reacts same as I said. Yesterday, I have provided one bull call spread. Please look at the above image in which I shared this trade. As predicted in sunday class, Banknifty took support at support 1 and then boom and then it took...
Keep an eye on triangle marked with yellow lines for either side breakout or breakdown.
Balid for intraday only for 7th sept 2022.
Condition is market must open flat then only we can get good trade in this.
RR will be favourable.
Price ranges are mentioned for Target. 150 pts minimum we can get. Thank you
Happy Trading 😇
#BEL trading bullish consistently and noted ATH with very good momentum.
Formed beautiful ascending triangle from support, not pullback ascending and given BO sustainability.
Resistance level itself work as support for long players.
Monday Possible Trade in Banknifty
CALL SIDE TRADE
Trade Entry – If Banknifty Sustain Above Support (33000 ) You Can Buy ATM call Option –
Trade Target – For upside First Target for Banknifty is 33200
Trade Stoploss – If any 30 min candle Closes Below 32950 or max .40 Points.
PUT SIDE TRADE
Trade Entry – If Banknifty Sustain below 32950 You Can Buy ATM Put...