Price_actiontaker14

Price_actiontaker14

Check out bank nifty analysis for 7th March'24 & let me know if u need more analysis on stocks also comment you fav stocks for analysis Thanks!!!

Price_actiontaker14 Updated 

Avoid flase breakouts & traps above 47500 & 47200!

Price_actiontaker14

Analysis for 4th March'24 Strong bullish recovery last week from 46200 to 47200 confirms the "aviator pattern" or "W" formation also looks like instutional are actively bullish. Also BN has broke strong 2 month daily resistance & lastly closed just above that resistance which gives a indication of bullish dominance. Thus this resistance becomes "strong point of...

Price_actiontaker14

Recap : Mentioned already on yesterday analysis that Bears have started dominating bulls you can read that in link below. Morining Just started with bearish candle at 9.15 closed below previous day low following with long legged doji candle and once that doji low broken at 9.45 Am it got confirmed that bears are ready to dominate Later on bounced from daily...

Price_actiontaker14 Updated 

Recap: As mentioned yesterday's analysis Bank nifty started with fake break out after firing 2 strong bullish candle on 15min & then a sudden dip trapped many players. But still strong support 46900 helped saved bulls to reach again for a breakout but failed & BN closed at support 46900. Analysis for Next Day: Bears have started dominating as seen today bulls...

Price_actiontaker14

Recap : After a 2 days bullish run from 14 & 15 bank nifty was cooled down in a tight range between 46300 to 46500 on 16th FEB'24 Also some profit booking was done after 1pm at strong resistance 46500 also happens to be round number. lastly BN stalled at 46300. Insights for tomorrow: BN Ranging at resistance on daily time frame previously touched twice and...

Price_actiontaker14

Todays gap up opening gave hint of momentum and later or bank nifty proved with bullish momentum after 2 hours of bearish flow. 45600 is still a acting as major support for buyers holding it from falling. Also pushed Bank nifty to safer zone but still unable to beat 46000 resistance. Post Analysis Arc shape recovery in BN gives a clear hint of bullishness in...

Price_actiontaker14

Bank nifty traded in a range between 46000 to 45600 today buyers were holding support but no momemtum from buyers end today tried twice to break 46000 but failed! Major support at 45600 if breaks tomorrow seller can take it to 45300 addtion to that banknifty was showing weakness after 2 pm today & traded below trendline support. Buyer can show momentum above...

Price_actiontaker14

If you look at 30 min chart of Bank nifty for today session it was clear from start of the day that buyers are going take the session look at first 30 min candle a pure "bullish wick reversal pattern" it confirmed that options buyers will take over the day!! Already discussed on 31st Jan analysis keep eye on opening for confirmation of trade. "Check" 45400 ce was...

Price_actiontaker14

As mentioned earlier post that might be today will be trend day or same tight sideways and it happend market didn't moved to new direction. market players want to stop out as many players as possible before a breakout it started with morning flase break out then all went in a range Bulls are facing strong resistance as they failed twice to break 45600 level...

Price_actiontaker14

As chart shows a flag pattern has been formed in 30 min time frame and also bank nifty traded tightly today. which conclude that this range can burst out either bullish or bearish. Another thing to notice a bullish wick reversal candle has formed which gives a hint for bullish side strength into bank nifty May be a gap opening for tomorrow also expecting a...

Price_actiontaker14

As per trend analysis Bank nifty has seen bounce earlier in March'23 and November'23 it works as powerfull support given big moves in longer time. Also trend also comfirms that buyers are still intact to make bounce in addtion to that we can see a wick reversal pattern is also seen on daily time frame. Which also confirms buyer strength and also bank nifty...

Price_actiontaker14

As mentioned previously avoid and beware of false break outs and traps same happend today in morning unable to break 48280 to 42300 false breakout and then back to days low at 48000 Stills looks buyer have controlled from falling below 48000. looks tomorrow may have gap opening in Bank nifty. See Bank nifty also making range between support & resistance keep eye...

Price_actiontaker14

Looks like buyers have hold the day from falling also have positive closing if same continue in morning may be tomorrow buyers can dominate as per trend if breaks with volume 48300. Also a round number zone so avoids false breakouts and traps at this levels. resistance 48300 support 48000 Note : Make your own analysis before making any trading decision.

Price_actiontaker14 Updated 

Sellers welcomed todays day with pressure closed at support looks tomorrow may be sideways day or profit booking can be seen. Still sellers looks more active may break support after profit booking. Bank Nifty closed at support 47400 to 47300 if break buyers may try to enter or trap Resistance at 47600 to 47700

Price_actiontaker14

Todays trend day may continue by tomorrow if a gap up opening is seen and sustained above 48300 then bullish action can been seen Support at 48000 to 48050 Resistance at 48250 to 48300 If gap down below support or trendline break may make sideways or range bound day. Also todays buyers will look to book profit.

Price_actiontaker14

As per trend its bullish facing big resistance at 289 & trend line breakage today at the end of day. Good Buying oppurtunity for holding from 285 to 281 Support at 281 Resistance at target 289 to 290

Price_actiontaker14

Buyers Showing strength but still facing Resistance at 43700 to 43800. If sustain above 43850 then good move is expected or a gap up opening. Trendline Support at 43650 to 43680 Key level 43580 keep eyes on it if trade below then may sellers gets active more. BN made a V shaped recovery from last fall but very slowpace then selling. Note : Do your own analysis...