Supportandresitance
Banknifty 15-Feb-2023 Intraday trade analysisBankNifty→ After moving down, it takes reversal in move up. Gives a positive closing. Near 41800=Resistance, but still in the range. Upper side breakout may happen.
Flat opening - Due to continuous upmove, no buying on feat, unless it gives some pullback. Breakout is possible 4th time coming near resistance.
Gap up → Resistance already broken, will wait for price action to sell near 42k.
Gap down - Again will be in range, support at 41500, so it may reverses from there, look for buying price action.
#NIFTY 1DTechnical Analysis of #NIFTY based on harmonic xabcd pattern & on support and resistance. 18925 to 19000 is the very strong resistance for #NIFTY on daily time frame we should buy above 19000 and previous level candle closing for the target of 19500 and for 20000. #NIFTY 1st support 18640 ,2nd support 18400 and 3rd support 18150. we should sell below when 18400 level break's for the target of 18150 & for 18000.
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Fin nifty Intraday levels for 02.11.2022Resistance level:18675.50
Support level : 18565
****Fib Retracement levels will act as the support or resistance****
If candles are sustaining or break above resistance level , we can expect upside move and the targets will be fib retracement levels as per chart
If candles are sustaining between resistance and support levels, consider as neutral
If candles are consolidating in buy zone or sell zone, wait for the breakout
If candles are sustaining or break below support level , we can expect downside move and the targets will be fib retracement levels as per chart.
If gap up or gap down opening, fib retracement levels will act as the support or resistance
*** For quick scalping use 5-minute time frame *****
Note: Pls check my previous day idea for better understanding & how it works
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Disclaimer:
Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research