Levels are marked and the boxes are significant turning points for Bank Nifty. Price may stall or struggle at the boxes. Lines above the price act as significant resistances and below the price act as supports.
NYSE:BAC With vaccine news, banks are expected to have less money put aside to cover default-risk-related assets, that is the recent run up. Also the fed Rate has "quietly" go up and US 10Y also run up which cause this bank bull run. so Bull side: more vaccine/news rally this can go to test 30.4 level , which could be a strong resistance. Bear side:...
Let it break the range of 15mins. And support resistance placed as you can see.
if the current 15 min candle closes above 29746-6 then you can short all puts below 29700 .
DBS, a big component of the STI (Straits Times Index) finds itself on an island (yellow circle) This is precarious... a drop below the current support will result in a decent retracement. MACD and Relative Price Strength already turned down... so it is held up with very little. Be aware, beware!
The market is moving into a consolidation range after a trend Inside a larger channel, a minor triangle pattern is formed If on Monday market opens Gap up there will be a possible retest and break out upside near prev the last close there can still be a ranging market continuing Gap down there can be a good down move near to support zone
Friendly reminder: Avoid Trading today. Market is sideways ✌️
I have a Bearish view. It came back inside it's channel, Levels you can spot on chart. But it is near swap zone. If it crosses 29850 let it make price action It's gonna come down. And if it crosses 29450 level you can short BN. Wait for first 15mins candle close. Stoch RSI looks negative too. ✌️
Bank Nifty couldn't engulf below trendline (Just fake out). Tomorrow if it breaks the channel in first 15mins and crosses 28950, You can short BN. (Support levels at 28700 & 28600). Watch out it can just break and can take support at 200EMA too. For long position, Let it cross 29300. (Resistance levels at 29450 & 29650). Market can be volatile, Be careful with...
Bank Nifty engulfed & retested it's resistance. Target i assume will be 29200 positional.
Channel breakout then bearish pennant breakout morning Gap filled. ✌️ R:R of 3:9 🔥
There are three probabilities. I feel it'll move mostly either flat or in upward direction. 30,000 will be a crucial level. Be careful with your position sizing and R:R.
I have a Bullish view on Bank Nifty. It is at support, And we can see pinbar rejection from both Bullish channel and support. It should break levels of 29850 for downward movement. It will move towards North when it crosses 29100, Hope it opens Flat. If opens with big Gap up let it make price action then plan. (REFER MY VERY NEXT POST 1D FRAME).
Please share your thoughts!!!
I have a bearish or sideways view on Bank nifty tomorrow. Support placed at 29050 let it break. Resistance placed at 29250. If opens flat it can take support in first 15 minutes then move towards north ☝️. Since it is on upper band of Bollinger bands and has to come till the middle line of Bollinger bands. Better to half your quantity it may consolidate too 👀