The Nifty Bank Index, currently trading at 44,612.05, has recently closed at a critical juncture, precisely at the robust support level of 44,600. This analysis underscores the importance of this level and offers insights into the prevailing market conditions, along with a recommended trading strategy for near-term traders.
The present close of the Bank Nifty at...
Confirmed support zone 44500. Green candle is confirmation of support. Now it needs to come into the pitchfork zone. Once it closes above 45200 be prepared to-get a target of 46500.. All levels are futures
This is Study on BankNifty.
There is a strong support at 44525.
If this breaks then second support Zone is between 44100 to 43780
Breaking of 43780 would come into force the Head and Shoulder pattern
As you can see here that bollinger bands already burst in 30 minutes time frame
near next strong support at 45895, if this support breaks down there is a high
chance that banknifty future will take support at 0.5% fibonacci support.
and may may take good upmove from there.
if price takes support on 45895 , the you may see a sideways again
crossing above 46165 ,...
Possible Impulse Wave in Banknifty
Possible Impulse Wave in Banknifty
Possible Impulse Wave in Banknifty
Possible Impulse Wave in Banknifty
Possible Impulse Wave in Banknifty
From last some days, we seen that banknifty is falling every day.
But today we seen somewhere bullishness.
Also good chart pattern in Daily time-frame (Hammer)
Banknifty took support at trend line with making Hammer pattern.
As you can see here bollinger bands made a parrallel low of previous low two,
it means it is on strong support, but price taking resistance at standard deviation one
44867 is a strong resistance , if it crosses above 44867 then it may reach to the level
of 45082, 45082 is a strong resistance price may again go down to the level of previous closing.
crossing...
Here, is the chart of Banknifty Future....
You can long only after the closing of the 15 min. candle above Rs. 45060.... upto the resistance mentioned...
As you can see , whenever it is making diagonal down sideways breaking upside, price
is standing just below standard deviation one if it crosses above standard deviation two
you may see an another burst in bollinger bands and price may go till 46799 after
crossing 46410.
If price goes down from current area then it may take support on 46100 and bounce back,...
For educational purposes only, this detailed examination provides insights into the potential scenarios and market dynamics surrounding the Bank Nifty index over the next few weeks. Explore expert insights, data-driven forecasts, and key factors influencing its performance. This analysis is intended to enhance your understanding of financial markets and is for...
As you can see a short squeeze is there and price is standing just above
standard deviation one which is a strong support , its lookslike that it is
ready boost upside.
if it crosses above 46231 then it may easily reach to the level of 46583 and above.
Downside it may face strong support at 45970, if it takes support at 45970 then you can
see another...
