BANKNIFTY is BUY above 35000 for Target 35250+ BANKNIFTY is SELL BELOW 34750 for Target 34550- 35000-34750 is a NO TRADE ZONE
What would hit first? Let's see what majority thinks. Whosoever is watching this Chart, please vote your answer in Comment Section as 1 or 2. Thanks in advance.
VCP in Lower Time Frame + Positive Divergence. BN may try to fill gap between 35250 to 35550 which will act as Resistance. If that's crossed and sustained, we may witness major upside movement in BN and Target can be as high as 36150+ (100MA)
LOC 695! 695 would act as next Resistance if TL Break Out happens tomorrow. If that's taken away, 718/732 would be possible targets.
BANKNIFTY can go anywhere now. It was a volatile day again and EOD BN gave up the gains. On 15MTF, one can see negative divergence. For Selling confirmation, BN needs to breach and sustain below 34525. For Intraday Buying, BN needs to sustain above 34670. Either side we may witness 300+ points movement. Enter the trades accordingly.
Bounced from 200MA. With today's low being important, one can enter long with SL below today's low and look for Target 146/151 in coming days. Above 146, it'd be considered Triangle BO and targets can be increased accordingly. On the other hand, closing below today's low would be considered Break Down and one can look for Target 136/131 on downside. I am on Buy...
May test 2250 levels before reversal (Near 200MA). Best buy between 2260-2240 for best R.R.R.
1. Marked 2 TL Supports. One is Short Term and Other is Mid Term. 2. BANKNIFTY closed on Short Term TL Support. 3. Friday's low (Also the TL Support) is important. Once that's breached and sustained, next major Support is the Mid Term TL Support around 32750-32900 levels (Pre-Pandemic Levels) 4. RS showing decline. 5. For any Bullish Bias, 37600-37750 levels needs...
1. NIFTY closed on TL Support. 2. NIFTY gave a TL Break Out around 16100 levels. This TL will act as support. Maybe around 16700 levels. 3. Below 16700, 16100 -16200 Zone will act as major support on WTF, followed by 15500-15650 Zone. 4. RS showing decline. 5. If TL Support mentioned in Point 1 holds, 17750-17850 Zone would be major Resistance to watch out...
At Trend Line Support. If manages to stay above 490, we may again see 510+ levels on Monday. However, if that's breached and sustained, stock may fall to sub 460 levels.
Took 200MA Support! If today's low is saved on Monday, we may see 230+ again soon to make another LH. If not, we may see sub 205 levels.
Positive Divergence on DTF. Closing above 232 would open the gates for 245/258+. Overall looking a decent trade to enter. Enter with due diligence!
Stock has been trading in a downward wedge making LH-LL. With lesser space left in wedge, it's due a Break Out or a Break Down. I am counting on Break Out because it's making HL for past 3 days. Above today's high, Stock may reach upto 2050 levels for major resistance, and thus our Target. With SL of 25 Points, Target is big. So a great R.R.R. in this trade. And...
On DTF Chart, Blue line is respected on Closing Basis. Once that's breached and sustained, 17075 would be channel support and downside Target. Create positions accordingly.
Closed just above Channel Bottom which would act as major support now. For ALL LONGS, 36550 is by default SL on HCB. If that's saved, we may again head back to 37500/3800 levels. Let's see!
Stock is making HH-HL on DTF. 695-700 seems to be BO area which, if done and sustained, may lead towards 800/850/900+ levels. Strong base at 590-595.
On Monthly Time Frame, stock is about to give TL BO. Will face resistance around 125-130 levels. Once that's cleared, be ready for new highs!
Keep in watch list for coming days. Above 445, stock may test levels of 475/490+.