1. Morning Star Pattern 2. Latest candle (26th oct21) closed above 0.5 fibo and 20ema 3. RSI above 50
Bullish Flag Pole pattern Watch for breakout.
Making Bullish Pennant Pattern Watch for the breakout.
Used Fibo and support resistance. buy on the breakout.
Analysis based on Trend line and Fibo. Already made W pattern. Short target1 - 165 T2- 179
EMA-50(blue) EMA-100(black) EMA-200(yellow) On breakout. 188-191 strong resistance zone. Today took 200EMA support, soon 50EMA will cross from below 100EMA , which indicates Buy signal. Fibonacci level- 189-190 to break. Can make inverted head and shoulder pattern.
It can give a direct breakout or will consolidate and make cup handle pattern and break the zone.
Can be seen a good breakout. -Multiple times tested the resistance -Taking support of moving average-200 and support trend line.
buy - Above 236 Target 1 - 249 Target 2 - 265
4 Hours timeframe. Gann Levels.
Banknifty levels. it is based on gann levels. currently banknifty is on the support line which is an important level.