BANKNIFTY trading at very crucial levels
as you can see it has formed SYMMETRICAL TRIANGLE PATTERN wherein BREAKOUT ON EITHER SIDE COULD RESULT IN SOMETHING HUGE
IMPORTANT LEVELS MENTIONED IN THE CHART
Nifty View: The Benchmark Nifty index keeps oscillating and keeps us all guessing which way will it eventually breakout. With Friday’s unit point negative close it was a disappointing close as the index slipped significantly from its intra-day high of 15,872. There is no dearth of volatility but definite ambiguity in terms of the underlying trend of the index....
# Stock is in Correction since so many days
# Now it has settle down on Weekly Support (Demand Zone) and a Hammer has Formed on Weekly Charts
# Buy Putting the Low of Hammer as a Stop loss can go long for 8-10% Target.
Buy Silver: Silver is ready for upmove
All Details are mentioned on Charts.
A bullish divergence occurs when the RSI creates an oversold reading followed by a higher low that matches correspondingly lower lows in the price. This indicates rising bullish momentum, and a break above oversold territory could be used to trigger a new long position.
SUNTV | Breakout occuring after long consolidation.
CMP : 562
SL : 500
arget : 650, 825, 950
Almost 1:4 risk reward
Since it is long consolidation i'm ignoring the first resistance i hope it will be taken out.