Next crucial support is at 21500 levels. If Banknifty is bearish tomorrow then we can expect a drastic fall in the market like the March-April times.
If the Banknifty is bullish and breaks the 22500 and 22800 resistance then we can expect a test of 24000 and an overall desire to go back to the pre corona levels.
Always keep an eye on the pivot levels.
Point A indicates classical case of testing. Market is being tested before going for higher grounds.
Point B indicates zone of potential accumulation. Market makers might have accumulated here.
If market doesn't fall below the current low levels, we can expect an up-move and possible breaching of 23000.
Disclaimer: Trade at your own risk!
The Zig-Zag trend line pattern which i invented a few minutes ago shows that the market will fall for the coming week. The volumes are low too. So we can expect that the distribution phase is over.
Disclaimer: I hardly have 1 year trading experience. Needless to say: All investment ideas published are for educational purpose only. Investors are fully...