Today we got the same move as we discussed on yesterday. Now the price has broken the support of 126 but we have a hammer candle. For tomorrow the volatility could be high.
Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
BANKNIFTY ANALYSIS WITH LOGIC:
1. Considering this week levels if there's gap up in price on today intraday session, price should get reversal from 43070 level then we will short up to 42430 level with strong movement.
2. If there's gap down in price below 42430 level if there's any reversal at 42430 level with strong bearish 15m candle, then only we will short...
The analysis is done on daily TF hence
price may take few days to few weeks
in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for
educational purpose. Traders must
do their own study & follow risk
management before entering into any
trade.
Checkout my other ideas to understand
how one can earn from stock...
ok so this one i thoroughly believe can be accurate and the price will eventually breakout, i just dont know when. it might take a while cause the price is already near the resistance and it might face it and drop down again, but we shall see...
Happy Trading !!!
Gujarat Alkalies seen good volume activity and
breakout with volume from cup and handle pattern after 4 years
sustaining above 800 level will move towards 1200---1400 levels in short term
views are educational
