Bank Nifty Update for Upcoming Week
Hi Traders!
I was expecting a Pullback in Bear Leg, We broken the Tight Channel (White Line). I see Resistance at 21800 levels. Gap is expected to be filled. It is possible a Double Top Set-up.
Market can open Gap up to initiate a Bull Leg to 21800.
In case of market fails to initiate a Bull Breakout Reaction, then I expect Good Sell Off which can break below the swing low (21385) and expect to test the Support at 21025.
Price action will give 21025 a oppurtunity for Bears to take profit and are Bulls are eager to buy at support.
Upcoming Week is more likely to have some Range or Bearish character in the market. Volatility can be if we break below the Support.
4H Chart
I am seeing Wedge Doublt Top Major Trend Reversal. Target lies at the foot of the Wedge (20162). It looks like that this Wedge is part of the Overal Daily Range.
I expect market not to respect Minor Support of 30m Chart (21025) but to pause at 20162.
Nifty is not trending on Higher Time Frame. We are in start of possible Bear Leg which is part of a Range.
I was expecting a Pullback in Bear Leg, We broken the Tight Channel (White Line). I see Resistance at 21800 levels. Gap is expected to be filled. It is possible a Double Top Set-up.
Market can open Gap up to initiate a Bull Leg to 21800.
In case of market fails to initiate a Bull Breakout Reaction, then I expect Good Sell Off which can break below the swing low (21385) and expect to test the Support at 21025.
Price action will give 21025 a oppurtunity for Bears to take profit and are Bulls are eager to buy at support.
Upcoming Week is more likely to have some Range or Bearish character in the market. Volatility can be if we break below the Support.
4H Chart
I am seeing Wedge Doublt Top Major Trend Reversal. Target lies at the foot of the Wedge (20162). It looks like that this Wedge is part of the Overal Daily Range.
I expect market not to respect Minor Support of 30m Chart (21025) but to pause at 20162.
Nifty is not trending on Higher Time Frame. We are in start of possible Bear Leg which is part of a Range.
Comment:
Market opened Gap Down. Expecting to see test to Support - 21025
Comment:
Measure Move Down - BANKNIFTY
Comment:
Range day today. Made +68 Points today. Took a short.
SHS, Channel Breakout and Double Top.
SHS, Channel Breakout and Double Top.
Comment:
Wedge Top, Resistance and Double Top.
Price made a rally to break the Range and it rejected its price from resistance.
made 93+ points today.
15min Chart Resistance
Price made a rally to break the Range and it rejected its price from resistance.
made 93+ points today.
15min Chart Resistance
