UnknownUnicorn34628734

UnknownUnicorn34628734

Range-bound Market with Bullish Market Sentiments? NSE:BANKNIFTY On November 1st,2023, Bank Nifty opened with a slight gap-down and remained range-bound throughout the session, obeying the support-resistance levels. The wicks of the candles moved creating some bull-bear traps, and the market ended in a flat note with no surprises on the expiry day. I have...

UnknownUnicorn34628734

BankNifty Forms Cup and Handle Pattern: A Bullish Continuation Signal? NSE:BANKNIFTY BankNifty opened flat on the last day and then fell sharply, approaching the gap to be filled. However, it sustained support at 42417 and bounced back, with bulls pushing the index back to the continuing uptrend. Currently, BankNifty is forming a cup and handle pattern,...

UnknownUnicorn34628734 Updated 

Market shows signs of recovery, but it's too early to say if the uptrend will continue? The market showed surprising strength on October 27, 2023, rising despite negative cues from the US markets. The market opened with a gap up and moved obediently according to the ascending channel pattern that had formed on the previous day. This suggests that bulls were in...

UnknownUnicorn34628734

Ascending Channel Pattern Detected: Bullish Breakout Expected? Yesterday's descending channel pattern continued, and market sentiment aligned with it, resulting in further downside. The bulls attempted to form an ascending channel pattern towards the end of the expiry. An ascending channel can identify an uptrend on a longer-term chart or a potential...

UnknownUnicorn34628734

Pre-market analysis for Bank Nifty: Possible surprise breakdown on expiry Bank Nifty followed the descending trendline and support and resistance levels that were plotted yesterday, as expected. No surprise breakouts occurred. I have plotted fresh support and resistance lines based on historical patterns. Considering expiry tomorrow, Bank Nifty may start with...

UnknownUnicorn34628734

Pre-market analysis: Bearish trend likely to continue In line with yesterday's forecast, today's market maintained its bearish trajectory. The emergence of a shooting star candlestick pattern towards the end of the trading session on the 15-minute chart reinforces the bearish sentiment, suggesting a continuation of the downward trend or a potential sideways...

UnknownUnicorn34628734

Channel Down Pattern in Bank Nifty: Possible End of Bearish Trend or Continuation? On Friday, Bank Nifty broke below the neckline support of its double top pattern, leading to a sharp decline. This was an expected move, as the pattern had already indicated a potential downside breakout. The ongoing downtrend has now formed a channel down pattern, which can be...

UnknownUnicorn34628734

On Friday, the market closed with a hammer candlestick on the 15-minute timeframe. This is a bullish reversal pattern that suggests that buyers are gaining strength. Additionally, a symmetrical triangle has formed, which is a continuation pattern that indicates a potential breakout. If the resistance level at 43832.30 is broken, the bullish trend could continue...

UnknownUnicorn34628734 Updated 

BankNifty Double Top Pattern Predicts Bearish Reversal As expected, BankNifty opened with a slight gap down on October 19, 2023, following the double top pattern on the daily chart. The price tested the neckline support region, leading to a buy-sell war between bulls and bears. Today's chart has formed another double top pattern on the 15-minute time frame,...

UnknownUnicorn34628734 Updated 

Double top pattern emerges on 1-day candle chart A double top pattern has emerged on the 1-day candle chart, suggesting a potential bearish reversal. If the support level at 43832.30 breaks, we can expect a further fall to 43600. The neckline at 43600 is a strong support level, and if it holds, we can expect the market to rebound. Note: This is for educational...

UnknownUnicorn34628734

A symmetric triangle pattern has materialized following today's trading session in the Banknifty index. The trading day concluded with a series of conspicuously robust bullish candlesticks, collectively indicating a prospective uptrend. Note: Please be aware that this information is intended solely for educational purposes. Patterns, trendlines, and other...

UnknownUnicorn34628734

Strong bullish trendline support. PS: This is for educational purpose , not a signal or call for trading. PPS: The candle pattern may differ in others time frames

UnknownUnicorn34628734

I've plotted fresh support and resistance levels on the BankNifty chart for October 16, 2023, with a keen eye on potential price gaps. Support levels indicate historical zones of buying interest that have consistently prevented the asset's price from declining further. On the other hand, resistance levels mark areas where past selling pressure has restricted...