Magic Lines:
All supports are not for buy level. As like all resistance are not for sell levels
After long research and back testing we find which S&R is for sell level & which S&R is buy level.
In that result we give the pure intraday levels in charts.
BLUE LINE ARE BUY LEVELS
ORANGE LINES ARE SELL LEVELS
IF OPENING 15MIN CANDLE TOUCH BLUE LINE GO FOR...
Magic Lines:
All supports are not for buy level. As like all resistance are not for sell levels
After long research and back testing we find which S&R is for sell level & which S&R is buy level.
In that result we give the pure intraday levels in charts.
BLUE LINE ARE BUY LEVELS
ORANGE LINES ARE SELL LEVELS
IF OPENING 15MIN CANDLE TOUCH BLUE LINE GO FOR...
Hi,
Bank Nifty has formed inverted Head & Shoulders pattern on 15 minutes time frame. If the neck line is broken at 34350 with good volumes then it can resume a short term uptrend.
So this is how the labelling is done on a daily chart of Bank Nifty Future. As you can see what I believe is that the recent correction is Flat in Wave 4 and so far we have completed Wave 3 and now we might be going for 5th wave rally.
Wave 4 retraced around 0.236 and within this Wave 4 sub-wave b retraced more than 0.786 whereas sub-wave c extended exactly...
Bank Nifty
Bank Nifty in correction mode.
Into a lower top and lower bottom formation.
Support coming from the earlier breakout point of 32861.
The low registered last week was 32391 but closed at 33006.
A recovery was witnessed but could not cross the lower top of 34425.
Relatively Bank Nifty weaker to Nifty in the current correction phase since the peak...
On 25th March we saw Banknifty futures bouncing on the back on a support confluence which was a previous high made in the month on Jan 2021, a hammer candle on 25th March was a clear sign on market respecting the support.
Although in the hourly chart 33700 to 34350 remains an important resistance band for price. Banknifty futures will have to surpass & sustain...
