Bank NF:High Possibility for new all time high in coming weeks
This is my positional view...it's not for a trading but buy Bank Nifty in cash...
There was a selling pressure from 44000 and from 27th January there was a buying pressure from 37000. In short there is a wide range from 44000 to 37000.
There is no strong bearish candle in monthly chart and price action pattern is very strong with higher high - lower low.
In daily chart there is a strong bullish candle on 27th Jan from supply zone and bullish candle on 3rd march from 41000-41250 supply zone.
Multiple time frame suggesting that in coming weeks it may make a new all time high.
There was a selling pressure from 44000 and from 27th January there was a buying pressure from 37000. In short there is a wide range from 44000 to 37000.
There is no strong bearish candle in monthly chart and price action pattern is very strong with higher high - lower low.
In daily chart there is a strong bullish candle on 27th Jan from supply zone and bullish candle on 3rd march from 41000-41250 supply zone.
Multiple time frame suggesting that in coming weeks it may make a new all time high.
Comment:
Till now price is favouring above analysis.
