IDEA and analysis is my personal view, take advice from your financial planner before any investment decision.
All needy things mentioned on chart and my previous bank nifty analysis.
If you like, please follow and share my analysis with your near n dear; and save your portfolio by booking your profit for a while.
All the things I want to say is mentioned in the chart, please read it carefully.
Reason to this fall :
1.MARKET HAVE A STRONG SUPPORT IN THE MID RANGE OF 26500-26600.
So we can expect fall up to that.
And as per logical TARGET FOR A #RISINGWEDGE PATTERN is 2L , which is exactly DOUBLE of length L mentioned on chart.
2. RSI is showing ...
As I have mention all in the chart, 60MA is my personal stratagy and view for entering trade.. and 200 EMA in which all people believe.
Why to buy TATA STEEL ?
> TATA STEEL has break out long term trendline.
> Taken support at : 1. Previous gap 2. 60MA line
> Volume is consistently increasing from past weeks as compare to previous year .
Same like nifty 50 analysis.... bank nifty is also bullish.
As we all know that , Nifty 50 Travel so far as compare to BANK NIFTY...on monthly candlestick chart.
So Once it crosses or retest at neck line after break-out... bank nifty will move so fast as compare to nifty 50.
One more plus point is that..
- Bank nifty recently crosses 200 EMA , and halt at that...
Expecting big move in nifty 50......
as we are seeing , nifty is taking support on neck line as always we found in head n shoulder pattern .....
Once it crosses 12000 LEVEL , it becomes right time to invest.
Keep your cash on hand for investment.