Description
The counter US30 falling in the resistance trend line from 26th January. The trend line has been tested more than twice at the price of 31138.1,30891.8 and 30818.4. Today the counter hit the trend line at the price 30818.4 and it started moving downwards. Therefore short is more preferable for this condition and the bearish trend may continue...
#BankNifty Live analysis @10.15 AM 1st Feb #budget
30206 is the pivotal point, above is positive & below is negative, any directional move u can get min 1000 point move.
VIX is high, don't trade option until VIX crases, impacting premium of both calls & puts.
32k on the upside & 29k on the downside, very much possible based on-budget outcome.
Yes It's Gramophone Pattern.
50% to 60 % Dump is coming.
Be prepare for it.
But this is the last crash. Huge crash which will drag down Gold,Silver, Bitcoin and also Global Market with it.
But eventually Gold BItcoin and SIlver will recover faster and start mooning.
its 2008 Again.
Fundamental Reason For Crash
1. Lockdown and New Strain of Covid-19
2. Gold All...
DowJones has strong support at 29500-600 levels which is also the Feb 2020 high. Below that it may test the puple support line which has been formed from the March 2020 lows which is appx 29000-29200. Dow can reverse from here and reverse. Breaking both can be a bad sign ahead for the markets.
Things arent looking good in US, posting it a bit late, but its a ideal sell after a double top pattern and second top having a head and shoulder pattern . any retracement towards the neckline should be used for selling with SL above the right shoulder expecting 30520-30050 in coming days.
Dow jones at a very strong resistance. continuously facing the strong resistance at 31223 Zone.
If it is able to break the trendline and the point 30697 Zone we can see it till 29568.
And if the breakout happens, we can see it till 32568.
As it is facing resistance, there is no harm in expecting it to come down.
Keep watching Global market...any time we can expect a profit booking..
- On January 20, Joe Biden will officially become president - this is an major event in this month
- Finance Minister Nirmala Sitharaman will present Union Budget on February 1
These are the major upcoming events.....keep an eye on it....
Be fearful when others are greedy....
indian...
