At crucial range which will decide the upcoming trends The range that must be kept in mind is 33200 - 33600 which is the most crucial levels and stands as NO TRADING ZONE for tomorrow Will only take trades If any of these levels are broken with proper candle close ✅
At a make or break level of 32800, if broken below we can see new lows else can reverse This swings made at 33000 spot which is also a psychological level 32800 and 32500 which is the low made will act a strong support so these levels can be kept in mind and traded accordingly ✅
The majestic 33400 is broken below and also reversed back from 33200 so what’s next now..?? According to me, There’s still some space below which BANKNIFTY can fill till 32800 BUT it has to close below 33200 with proper candle close! Another 400-600 points fall can be witnessed if 33200 is broken below ✅ Else expecting a INSIDE candle tomorrow 🚨
As we discussed yesterday, we could see VOLATILITY, market went no where but eager to hunt SL but tomorrow it could be interesting due to following reasons ✅ ^ Witnessed symmetrical triangle breakout today and close at its major resistance which is around 34200 if the uptrend continues do watch out the following resistances R1 34200 R2 34450 R3 34700 More...
We can see real interesting closing for the day as it couldn’t break last trading sessions low making 33400 level as important support for tomorrow and a must watch ! Since NIFTY on the other hand showed some strength as closed above than BANKNIFTY still BANKNIFTY being weak we’ll watch out 33400 level cause break of that very level can lead to easy 400-600...
Expecting SIDEWAYS market Important levels provided in the chart itself Must watch out those levels ✅
The spotted trendline we drew yesterday, we can it is also very well respected also getting rejected from 34000 which is also a psychological level for us My inclination in towards BEARISH only if market opens flat and crosses 33600 I repeat it must break 33600 for further downfall On the other hand I won’t recommend aggressive selling unless 33600 is breached...
Hugh chances of reversal if couldn’t close below 34000 On the other hand If 34000 is broken another 600-1000 points fall can be witnessed ✅ ALSO A EXPIRY WE CAN WITNESS SOME WILD MOVEMENTS TOMORROW 🚨
Rejecting seen right from trendline drawn yesterday In larger time frame, we can see it forming HEAD AND SHOULDERS PATTERN whose neckline is around 34500 levels, successful closing below 34500 can even lead to fill the gap till 33000 More inclined towards short WILL TRADE WHAT WE SEE RATHER THAN WHAT WE THINK
Trade what you see, not at what you think
Seems like an END to BULL RUN 🔻 REASONS BEHIND A POSSIBLE RETRACEMENT • Firstly, a double top pattern which is a strong bearish reversal pattern,A possible fall or good amount of retracement is expected in coming days if broke 14350 psychological support level and which would eventually break the trend line as well as the NECKLINE which NIFTY has been...