Wealthcam

Wealthcam

Following the global cues, we can expect BANKNIFTY to open strong but we must take into account if BANKNIFTY manages so sustain itself at higher level. Since BANKNIFTY is in downtrend as of now, despite the strength we can expect BANKNIFTY to fall despite its strong opening hence as long as BANKNIFTY is below 52000 every rise is a selling opportunity so plan your...

Wealthcam

As we can see BANKNIFTY had fallen for two days straight since the break of our given structure. Now there can’t be seen any eminent strong demand zone wherein BANKNIFTY can take support hence we can again expect BANKNIFTY to remain sideways to negative for coming trading sesssions so plan your trades accordingly.

Wealthcam

As we can see BUDGET didn’t impacted the market as expected and broke below and managed to close below the structure. Hence we may expect bearish to sideways market unless it gets back in the structure so plan your trades accordingly.

Wealthcam

As we can see despite the weak opening BANKNIFTY managed to close inside the structure showing the bullish sentiment. Hence we long as the structure is maintained, any break above the flag-pole pattern could lead to strong upmove which could unidirectional in nature hence plan your trades accordingly

Wealthcam

As we can see BANKNIFTY has formed more like a flag Pole pattern in bigger time frame and it seems the flag has not been broken yet. But we know the bigger is the consolidation, the bigger could be the move hence any closing above or below the structure can give unidirectional move of over 600++ points so plan your trades accordingly everyone.

Wealthcam

As we can see BANKNIFTY had been consolidating in the form of flag-pole pattern since quite sometime now making both demand and supply zone weak. Hence any closing above or below zones can lead to unidirectional move so plan your trades accordingly.

Wealthcam

Following the global cues, we can expect BANKNIFTY to open strong around the trendline resistance. We may expect a sharp fall if BANKNIFTY couldn’t sustain itself above the structure but any closing above the structure could show another unidirectional movement so plan your trades accordingly.

Wealthcam

As we can see BANKNIFTY is forming more like a flag-pole pattern which is also a bullish continuation pattern if the structure breaks but we can also see a trendline resistance which had been resisting BANKNIFTY for quite sometime now. Hence we can expect a trap if BANKNIFTY breaks but couldn’t sustain itself above the structure which could lead a to a bigger fall...

Wealthcam

As we can see despite NIFTY breaching new ATH every other day, BANKNIFTY can be seen stuck in a range after rallying and getting rejected from the shown structure. Hence we can look for shorting opportunities in BANKNIFTY rather than NIFTY which is comparatively stronger. We can expect a strong correction or profit booking in index in coming trading sessions so...

Wealthcam

As we can see despite the break of neckline, BANKNIFTY managed to recover completely which shows the strength of BANKNIFTY. Now as long as BANKNIFTY maintains itself below the structure, every rise can be sold but if last high is broken then we may see another strong upmove in BANKNIFTY so plan your trades accordingly.

Wealthcam

As we can see BANKNIFTY has finally breached the trendline and managed to close below. In bigger time frame, we can see BANKNIFTY forming more like a head and shoulders pattern trading currently at the neckline. Any closing below the neckline could give unidirectional fall so plan your trades accordingly.

Wealthcam

As we can see BANKNIFTY has fallen more than 1000 points from its ATH and can also be seen forming head and shoulders pattern followed by trendline support. We’ve decided that as long as BANKNIFTY is inside the structure, we can expect it to be sideways to negative and hence we can expect BANKNIFTY to continue its sluggishness and break of structure could lead to...

Wealthcam

As we can see BANKNIFTY got rejected exactly from the trendline though it recovered a little but ended up making an inverter hammer candlestick pattern in weekly timeframe showing that he selling pressure that BANKNIFTY is facing. Hence we can stand by our view that until and unless the structure is breached above no new fresh long positions should be made as the...

Wealthcam

As we can see despite the strong opening BANKNIFTY failed to sustain at higher levels and ended up being sideways to negative as we had been analysing in last few posts. As we can see BANKNIFTY has more one day end the week, we may expect any closing of this week’s candle inside the structure as a zone of sluggishness on the other hand if closes above the zone we...

Wealthcam

As we can see BANKNIFTY maintained itself strength and closed strong but below the structure hence as long we are blow and inside the structure. We may expect sluggish market so plan your trades accordingly

Wealthcam

As we can see we can finally see signs of REJECTION in BANKNIFTY in weekly time frame. It exactly replicates the analysis we had been doing since last few days that as long as BANKNIFTY maintains itself In a structure, it could remain sideways to negative unless it breaks off the structure for a directional move so plan your trades accordingly.

Wealthcam

As we can see BANKNIFTY despite being in structure managed to close strong though we expected it to maintain a sideways to negative market which shows the immense strength. But in a bigger picture it can be seen forming more like rising wedge pattern which is a strong bearish structure hence as long as the structure is not broken above, every rise can be sold.

Wealthcam

As we can see BANKNIFTY has finally started to correct itself after hitting its crucial trendline resistance. We may expect a healthy correction before finally continuing its bull run. As long as BANKNIFTY remains below 52500, we may expect BANKNIFTY to remain sideways to negative to plan your trades accordingly.