hanifjuneja

hanifjuneja

Market Context and Current Position: The market appears to be completing the Elliott Wave (5), indicating a potential cycle conclusion. The recent price action shows bearish divergence in the RSI indicator, which signals momentum loss and a higher likelihood of a reversal or correction phase. The current level aligns closely with a Fibonacci retracement zone...

hanifjuneja

My view is that if Bank Nifty closes positive today, it could potentially head towards the 52,676 - 52,816 range.

hanifjuneja Updated 

📈 Trading Insight for Beginners: 📊 🔍 Understanding Bank Nifty Trends 🔍 New traders, take note! 📝 Keep an eye on Bank Nifty's movement. It's poised for a potential bullish run! 📈 Key Levels to Watch: Bank Nifty needs to break above two critical resistance areas: 48,800 and 49,950. 🔍 What to Look For: Breakout Confirmation: A close above both resistance levels...

hanifjuneja Updated 

I am currently bullish on Bank Nifty, anticipating a retracement to the last swing level before breaking out above yesterday's high. My overall view for Bank Nifty is bullish, but considering it's currently in a resistance zone, the next bullish move may occur after a retracement.