Sell below closing of 425rs
Buy above closing of 440rs
Whichever side the trade gets activated, take position
Move likely: Downside
Because of descending triangle pattern and bearish harami on daily charts
Bank Nifty is looking to prepare for some short covering. Move possible till 30000 to 30100 before further shorts start building
30000 - 30100 will likely act as a resistance zone, which was previously a strong support zone. HDFC BANK, ICICI BANK and SBIN are top banks which can pull up bank nifty in coming week.
Where is it heading? Price is in the strong demand zone but closed below 200DMA. If Monday's closing is in green and above 200DMA we can expect reliance to bounce back from here. View negated if demand zone is broken. Note that price is also making lower lows, so chances of breakdown below support zone are high. Break below 200DMA and price making lower lows, its...
Bajaj Finance has taken support at trendline and made a bullish engulfing pattern. Expecting trend to continue and price to ride at least 10% upwards from here. View negated once trendline is negated.