banknifty will retrace and then fall down in few days .
Price is moving within the range 21900 - 22700. Bearish below 21860 for the targets 21720, 21560, 21420, 21300 and 21080. Bullish above 22080 for the targets 22220, 22460, 22640, 22860 and 23040.
Chart is shared for the educational purpose
Bullish Bat pattern forming on 4H Chart of BANKNIFTY FUTURE. BUY 21850, SL 21400, Target(s) - 22222, 22300.
Bank nifty levels...21/09/2020 (1hr Candle)😊
Please see the simplicity of the Algo which gives BUY SELl signals for BANKNIFTY SCALPING at very precise timings.
What we saw today is the last subwave v of the first leg (wave1) of the downward move. This should terminate a few hundred points lower and start a wave 2 correction and then the really rapid acceleration down in wave 3 which will "surprise" everyone. The story is clear - the trend has turned. We should expect new lows in this index and then it should reconcile...
Check the earlier update today, #BANKNIFTY danced to the waves and sunk. Should have a several hundred point down still to go. Racing down in Wave 5
With the correction in #Banknifty extending, it shaping up to be a wave 4 triangle. This should mean a sharp downward thrust in the coming hours
Bank Nifty Analysis.. Current support is at 22304... if close below then the next support range will be 22163-22051... on an upside, there are resistance levels at 22604-22720-22830-23000..... OI Analysis- 22100-22200-22300 has more put writing and it can act as support areas..whereas there is call writing in strike 22400-22500-22600 which can act as resistance zones
BankNifty is stuck in channel of supply and demand . My levels has not been changed since more than a week. Until and unless it breakout either way it will not trend. Strictly do not make any view orelse you will be stuck. Yesterday it went high and I was sure it will comeback as it rose without volumes. And today it cameback to the channel and closed...
Banknifty in parallel channel, taking higher pattern support. Should wait for the breakout of the parallel channel to move higher.
Banknifty1!- 23092 by 16th Sep . Banknifty showing momentum. Looks like it's going to be a good day tomorrow.
BNF is just at the edge of the channel trend line. If this is taken out on start of the day, it can go for 22800-23000 for 15 Sep. Crucial support is around 22350 . zone to watch out in case BN nosedives Buy on dip PS: My views are mostly short term ( intraday or positional trades - few days). I am good at understanding the short term trend rather than...
CAN TAKE LONG POSITION IF PRICE BREAKS SHORT TERM TREND LINE ABOVE
Perfect 300-500 plus points were captured by the algo supports are broken on a intraday basis. BNS Looks pretty weak, can sell upmoves but only after you get confirmation of the reversal . BNF is highly volatile , so need to be very cautious on the big moves