Hello Guys , Today I Have The Technical Chart of Banknifty it has breaked the Inverse head and shoulders a few days ago but now I think it can go to the Targets shown as it has Breaked here and ready for go on a Bull Trend and now lets talk about the targets . So its target 1 could be 36218 and target 2 could be 37837 , It can reach target 2 is not vey much...
bank nifty had smartly recovred from our majar support area,now what for next week is big quation.i thik this week we can see consolidations and base building prosses with low volatility,36000 is next resistanceif we get some big gapup then we are in safe zone
🟢 Major US/Europe market #RSIStair > 50/55. Prices > ST(10, 2)
🟢 RST-SAR system has given bullish signal on QD/HD/D/W chart
🔵 Whereas Nifty is far behind and is yet to do a catch up move
🔵 Call IV and premiums are very low as CE writers still holding
#Bulls 34800 Retest for any reason is an buy on dips opportunity.
As a pervious video shared showed there might be a down side because of the rising wedge pattern (only if there is not a gap up day) and unfortunately there was a huge gap up day of almost 150 points and we didn't took a trade on that as said before the conditions . today's video is all about the next move
Banknifty Important levels...
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Above is purely my opinion. It doesn't mean that you need to trade accordingly. Please note that I'm not Sebi registered advisor or technical analyst . Trade on your own conviction and please consult your advisor before investing .
Banknifty formed a inverted head and shoulders pattern in 1h time frame, it already broke the neckline. The target should be 36800-37000, RSI is showing over sold so by chance it comes down till neck line we can add more quantity. Target should be achieved in maximum 1-2 weeks
Expecting one more push on the upside and when position can be taken after a 15 min reversal below 35715. If there is no sharp reversal then no trade.
To get the Fibonacci level indicator try this link
Today will be gap up opening in banknifty. After opening expected upside rally upto 35450+ level this rally can extend for further 400-500 points if banknifty starts trading above 35550 level. Any downside only possible below 34950 level in today's session.
Making a massive rally of more than 700 points in the second half on monthly expiry, Bank Nifty has successfully managed to break above the recent strong zone 34700-34800. While the Nifty Bank did close above 34800, one can observe price- momentum divergence in the shorter time frame and this could indicate the possibility of a correction. If the correction does...