For educational purpose In the above illustration, two conditions are explained : (1) When BankNifty breaks its high (2) When BankNifty breaks its low
FOR EDUCATIONAL PURPOSE If Nifty crosses its Friday low on Monday, the above illustration will be valid.
For educational purpose Hypothesis for tomorrow Banknifty should open positive and take support at 34750 from where long position can be initiated. If opening is negative, Banknifty will take resistance at 34750 level and fresh short position can be created.
FOR EDUCATIONAL PURPOSE Short Nifty below today's low.
FOR EDUCATIONAL PURPOSE Best opportunity for shorting Banknifty if it breaks today's low in morning session tomorrow.
FOR EDUCATIONAL PURPOSE BANKNIFTY IS MAKING HIGHER HIGH WHICH SHOWS BULLISHNESS.
FOR EDUCATIONAL PURPOSE BANKNIFTY WEEKLY CLOSING ABOVE 35000 SHOWS POSITIVE SENTIMENT. THE ABOVE ILLUSTRATION WILL BE VALID IF BANKNIFTY CROSSES ITS FRIDAY HIGH ON MONDAY MORNING.
FOR EDUCATIONAL PURPOSE NIFTY IS FACING STRONG RESISTANCE AT 15900 WHICH WAS CLEARLY SEEN ON FRIDAY. THEREFORE, THERE CAN BE 02 SCENARIOS : (1) WHEN NIFTY OPENS FLAT/DOWN - NIFTY IS GOING TO FACE RESISTANCE AT 15900 AGAIN ON MONDAY. (2) WHEN NIFTY OPENS GAP UP ABOVE 15900 - HIGHER CHANCE FOR NIFTY TO TAKE SUPPORT AT 15900 AND PROCEED FOR 16000.