BANKNIFTY - Freak High made today
Today Banknifty made a freak high of 39255 and a low of 36410.05 before closing the day at 36870.90
This rise from the low of 36410.05 could have bought some cheer on my face
But there is a problem that I can see stopping Banknifty from moving upwards - The last 2 candles on the 15 minute time frame have created a double top.
A bearish signal on the close of the day - If followed by another bearish candle in tomorrows opening session we may have another down pour
Factors that can support the fall in Banknifty - The FOMC(Federal Open Market Committee) meet on Tuesday and Wednesday to decide on the next steps for U.S. monetary policy and the tensions raised by the presence of Russia’s military around the UK border, with U.S. State Department recommending that all U.S. citizens in Ukraine depart the country immediately: as per Sunday news.
All the best !!!
Your feedback is most appreciated
This rise from the low of 36410.05 could have bought some cheer on my face
But there is a problem that I can see stopping Banknifty from moving upwards - The last 2 candles on the 15 minute time frame have created a double top.
A bearish signal on the close of the day - If followed by another bearish candle in tomorrows opening session we may have another down pour
Factors that can support the fall in Banknifty - The FOMC(Federal Open Market Committee) meet on Tuesday and Wednesday to decide on the next steps for U.S. monetary policy and the tensions raised by the presence of Russia’s military around the UK border, with U.S. State Department recommending that all U.S. citizens in Ukraine depart the country immediately: as per Sunday news.
All the best !!!
Your feedback is most appreciated