Poor Nifty Bank - Resistances Everywhere!
Updated
Today it took 3 sessions to cross the "Descending Trend Line" & "The Horizontal W's Neck Line" finally. Expiry is for "The Writers" now! Upwards Momentum's Strength can be seen that 1 candlestick broke both the hurdles.
Key Points:
1. Next Hurdle is giant - 47200 to 48000. Its a big "Unfilled Gap" of 800 points approx. which was forcefully placed over Bank Nifty's Bullishness.
2. Within this gap, another descending trend line is coming across at around 47600 to 47800. This trend line produce a small DOWNWARD CORRECTION till 46900.
3. Once the Gap is filled, Maximum Bank Nifty can reach up to 49000. After that - EXPLOSION process will start either side.
Observe, Analyse, Observe Live!
Key Points:
1. Next Hurdle is giant - 47200 to 48000. Its a big "Unfilled Gap" of 800 points approx. which was forcefully placed over Bank Nifty's Bullishness.
2. Within this gap, another descending trend line is coming across at around 47600 to 47800. This trend line produce a small DOWNWARD CORRECTION till 46900.
3. Once the Gap is filled, Maximum Bank Nifty can reach up to 49000. After that - EXPLOSION process will start either side.
Observe, Analyse, Observe Live!
Trade active
Today's resistances - 47490 and 47690Note
Gap filled
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