KNOWLEDGE TRANSFER is important, our ancestors failed as they don't have these many possibilities. Let's Share and use it wisely! Technical doubts of any market will be answered technically :) strictly no BUY/SELL calls.
Price after the bull run was in an accumulation phase for some time and now it breaks the level with a strong green candle for the week and closes above the resistance level, one can expect a retest of the breakout level.
If some one misses the breakout level then add a small quantity at the current price and if price nears the breakout level then add the rest,...
Price forming a pattern near the resistance and it will break in the coming days, as the analysis is on weekly time frame it takes months to break. One should look for breakout patterns in PSU banking stocks.
Price forming higher lows but taking support from the same levels for the last 6 months, so it has all chances to break the trend line and move up swiftly. Chances of breaking the support level is also there but still when compared to trendline break it is minimal.
Price breaks the important resistance level and failed to hold the momentum and returned to the previous levels below the important support. Now once again price is all set to break the resistance and jump up.
Banknifty will be on big move !!!