Price after the reversal from the high reached the important support level. Expecting a close below the support next week and those are into bank nifty trades watch out as the important stocks are showing weakness.
Banknifty after forming inverted Head and Shoulder pattern breaks it to reach the target. Before breaking there was a Triangle pattern which is a double confirmation that price is going to break.
Again in 5 min last trading day ends with a channel pattern and market breaks open the channel today as expected . . . Technical - Love it you will learn it !!!
Price took support from important level and reached the Descending channel top in a super fast time. This shows the market is bullish but still the overall trend is down and Long term players must watch as the price is at the important level.
Nifty trading near the trend line, expecting it to break the trend and move up. In the analysis only 15 min time frame chart is taken and it is not a strong time frame for long trades . . . still it is useful for intraday trades.
One can expect nifty gap up on Monday.
Nifty getting heavy resistance, even it gives positive signals by closing above the resistance it cannot hold the momentum.
As the international crude price is on increase it is good to short the market whenever one notices the opportunity.
Better dont have over night positions for some time.