Nifty trying to make inv H&S pattern If Nifty trades in range from 17400-17300 till 1pm we may see breakout with decent target Bouncing from 17300 will be healthy retracement as 17300 is Fib .38 level
Banknifty is forming Cup Handle on daily timeframe Also form inverted H& S on 15 min timeframe We may see shortcovering above 38800 Idea invalid below 38300
Banknifty moving in Channel since 2 days We may see shortcovering move above 37900 Idea invalid below 37770 Decision zone marked on chart
Bnf Form Hanging Man pattern on Daily Timeframe Bnf has traded in range from 11am If Bnf breaks support at 38300(tested multiple times) we may see downside rally/profit booking 1st target 38100 2nd target 37950
Banknifty made Spinning top on daily timeframe after a strong Bull run throughout the week Banknifty making Pole & Flag on 15min timeframe If Pole Flag gets activated, Channel breakdown will also happen simultaneously Retracement till 37100 will be very healthy retracement for strong upside rally Idea invalid above 37900 Details in Video
37500 will may act as strong resistance if market trade 15min candle below 37500 tomorrow For Next healthy rally market needs to retest 37000 mark, which is also Fib .382 for the current upside and also market gave a breakout from same level I can see Bullish Gartley also supporting the findings
Market cannot move in one direction Back to back 4 green candles on daily timeframe Pullback & profit booking required for fresh buying RSI Divergence
Bnf making Pole & Flag Pattern Retraced & bounced from support & Fib .236 levels which is bullish indication
Market in Downtrend Banknifty in process of making Head & Shoulder Pattern Patterns gets active if BNF starts trading below support
Retracement from 50Fib level on daily timeframe gap Filling done Doji Candle low break will initiate the Fall Detailed Logic in Video on Youtube
High probability to go long in Banknifty tomorrow 1. Back to back red candles in daily timeframe with inside candle being formed today 2. Support being built at 34500 as per OI data And on the downside if there is movement we may see double bottom formation and subsequent reversal
Banknifty is at a Make or Break area. Steam will be there till it remains above Support Zone If the Inv Head and shoulder pattern gets activated, we may see short covering rally
Banknifty was trading in channel since yesterday afternoon. Brokeout channel taking support from Fib .5 levels When in morning BNF was making Lower lows, RSI was not doing same and there was divergence…. Indicating reversal
BNf is trading near strong support zone which is a breakout zone and also a Fib .382 level. Look for Bullish sign and channel breakout to go long