Bank Nifty - Mount 25K likely, if bullish H&S worksBank Nifty can be bought at current levels as it is under formation of bullish H&S pattern. At current levels of 21500, the Reward/Risk is 7:1, an extremely compelling case to take a long trade with SL below 21000 and target 25000!
The one-time loan restructuring news for banks will be good trigger for the upmove to commence.
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BANK NIFTY CRUCIAL LEVELS: 17 JUL 20 ONWARDSBank nifty crucial levels to the upside which may act as a stiff resistance. Plan accordingly
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Dhiraj Singh Bais
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Bank Nifty at Trend Line SupportBank nifty closed at crucial support of the trend line. If tomorrow this trend line is broken then Bank nifty can fall till 22,000 or below and if the bank nifty took support at this trend line then it may face resistance near 23,000 levels. Do check price action before taking a 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 ON ELLIOTT WAVE ANALYSISBANK NIFTY BROKE ITS STRONG BULLISH TREND LINE ON 10 JULY AND TAKING SUPPORT RANGE BETWEEN 22350 TO 22450
SEEMS LIKE BANK NIFTY ON ITS CORRECTION WAVE AS IT COMPLETED ITS IMPULSE WAVE 5
THERE WILL BE A PULLBACK UPTO 22800 MAKING CORRECTIVE WAVE B
AND THEN BANK WILL FALL AROUND 21600 MAKING CORRECTIVE WAVE C
BANK NIFTY SPOT LEVELS - PREVIOUS TARGETS ACHIEVED - WHAT NEXTBANK NIFTY SPOT BUY ABOVE 23000
23075, 23145, 23225, 23295
SELL BELOW 22900
22800, 22750, 22700, 22625, 22550
IF CLOSE AND SUSTAIN ABOVE 23100 THEN UP MOVE EXPECTED
TODAY AND NEXT TWO TRADING DAYS ARE IMPORTANT
BIG MOVE ON CARDS
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BANK NIFTY SPOT LEVELS FOR THIS WEEK - 6TH TO 10 JUL-2020BANK NIFTY SPOT IMPORTANT RANGE TO WATCH 21850 - 22025
BUY ABOVE 22050
TARGET 22152, 22265, 22335, 22450, 22565, 22625, 22685
SELL BELOW 21800
TARGET 21675, 21450, 21325, 21225, 21165, 20975, 20865, 20745
STRONG RESISTANCE RANGE 22350-22500 FOR UPWARD
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Bank Nifty @ Supply Zone - hourly time frame - today weekly expiBank Nifty @ Supply Zone - hourly time frame - today weekly expiry as of Now - OI suggesting in Bank Nifty Bulls are strong compare to bears 45 Lakh more put writing compare to calls - as per charts - Market has to come down - Let's watch
BANK NIFTY VIEWBANK NIFTY VIEW
Bank Nifty is in positive range . According to me BANKNIFTY showing very good support near 20166 and its showing very good under current. Watch bank nifty support carefully till bank nifty trade above 19500 20220 this is no issue. But bank nifty close above 22000 we will see the blast .
Bank Nifty Supply and Demand Zones Bank Nifty is trading in the wide sideways range but on Monday after gap-up open if it will manage to sustain above 21700-21850 then it may test it's next supply zones on the upper side (22500 and 24400).
I will update my Bank Nifty trades in this post. Like this post to get the updates notifications.
Thank x Trade Well