Analysis assumption: tomorrow is a flat or gap up opening. I am anticipating the following price action to occur if it is flat or gap up opening. Not thinking of buying at present. Buying only if 15 min close with breakout at level 21852.
*******Assumption******* No 15 min close below 21575 *****Analysis****** 23/1/2024 Nifty will be in the range (yellow box)
Green is uptrend price action and Red is downtrend price action.
If nifty crosses 21677.20 then nifty might be trading in the zone.
If 15 min candle closes above 21744.05 then nifty will reach 21928.30
Nifty can move down to 21419.35 if 17/1/2024 low is broken
Accumulation detected in Banknifty 10 min chart. Phases A,B and C of wyckoff are complete. Phase D in progress.
Reason for bullish sentiments ( these are my studies please do your won analysis..) - Price has reached higher time frame demand zone - Bullish signals detected by breakout from falling wedge pattern in lower time frame. - Price at 50% fib level
Everything explained in the chart. These are just my views . If the support line breaks then Nifty may fall upto 17150 range.
Why I took long ? Failed head and shoulder pattern - this can move the stock up for sometime Multiple support formed and respected making Higher highs Cheers :D
Everything explained in the chart. Cheers :D
Everything explained in the chart. Cheers :D
I have posted Asian paints formed a Head and shoulder pattern on May 11th 2021. Looks like it is not in a mood to break the neckline (How sweet :)). Now we are getting a triangular pattern and it has already given breakout (from red trendline) within the pattern with good volume. If all stars are aligned, this may give break out from the resistance. These are my...
Inverted Cup and handle signifies the presence of bears. Handle of the cup has been broken means breakdown happened (WHAT !!). Let's see. Cheers :D
Everything explained in the chart . Cheers :D
Everything explained in the chart . Cheers :D