Bank nifty Clear cut Analysis & Explanation (Uptrend/Downtrend)
Scenario 1: If we observe a zone between 36854-36471 market is consolidating between this range, whenever the high (36854) or the low (36471) will break market will become Trendy either up or downside. We can observe this previously on 3rd & 7th Sep Charts.
Scenario 2: In 1 hour Time frame up to 3rd Sep we can see HIgher highs & Higher Lows (indication of Uptrend). But on 6th Sep it made low high, lower low on 7th Sep & on 8th Sep it made another new low high(Downtrend)
Scenario 3: Support: If we Draw a Trendline by joining lows made on 23 Aug & 7th Sep(From 34810 to 36160) if this Trendline Breaks we can expect Downtrend in the Market. Scenario1 is Supporting this point.
Scenario 4: Resistance: By joining Highs on 3rd Sep & 8th Sep(37140 to 36841) if this Trend line Breaks we can see upmove in the market. Again Scenario1 is Supporting This Point.
*Always Enter With good confirmation & Maintain proper Risk Reward.
**********I am not a SEBI registered adviser. All the information provided by me is for educational/informational purposes only. **********
>> Visit My Ideas Page for Daily Stock Analysis & check my previous stock analysis how accurate they are for Swing and Intraday Trades<<
Scenario 2: In 1 hour Time frame up to 3rd Sep we can see HIgher highs & Higher Lows (indication of Uptrend). But on 6th Sep it made low high, lower low on 7th Sep & on 8th Sep it made another new low high(Downtrend)
Scenario 3: Support: If we Draw a Trendline by joining lows made on 23 Aug & 7th Sep(From 34810 to 36160) if this Trendline Breaks we can expect Downtrend in the Market. Scenario1 is Supporting this point.
Scenario 4: Resistance: By joining Highs on 3rd Sep & 8th Sep(37140 to 36841) if this Trend line Breaks we can see upmove in the market. Again Scenario1 is Supporting This Point.
*Always Enter With good confirmation & Maintain proper Risk Reward.
**********I am not a SEBI registered adviser. All the information provided by me is for educational/informational purposes only. **********
>> Visit My Ideas Page for Daily Stock Analysis & check my previous stock analysis how accurate they are for Swing and Intraday Trades<<
Comment:
Tricky level.. If we Check in 5 min it seems like support trendline breakout and came for Retest & considering our zone 36850-36470 it took support at 36470 levels. waiting for good Confirmation to enter into Trade.
Trade closed: target reached:
Scenario 1& 3💥💥💥
