Banknifty trend based fibonacy levels are mentioned on chart
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My studies are Educational purpose only
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MONTHLY CHART: This month' index has been trading at all-time highs, it exceeded the high made (32773.85) in December 2019, now sustaining above it, is going to be more important to see new highs moving forward.
FIBONACCI Support: 34200
Price Support 32700
Price action: Since September 2020, prices had been up and the best part is that the prices are...
Banknifty has broken the major trendline. However, it has strong support zone near 36500 levels.
Shorting opportunity once it breaks 36500 strongly.
Let it break this level and when it retest, you can short Banknifty near 36500. However, you can also short if you found rejection candle near the downward trend line.
BankNifty in crucial zones
Long Setup: If BankNifty breaks trendline, then look for possible long opportunity.
I will wait for Banknifty to test the trendline or come to blue area once it breaks.
Short Setup: If BankNifty gives break out the blue zone, then you might expect downtrend to continue further.
I will wait for...
Shorting opportunity in Banknifty future if it opens below 32490 with a Stop Loss @ 32620. In case, if Banknifty opens above 32620 and hold for some time then please avoid the setup.
Tomorrow morning look for any rejection candlestick patterns like Bearish Engulfing, Hammer, Shooting Star or any other.
1st Target: 32380-32390
2nd Target: 32240-32260
Bank Nifty - In my Last Post , I have said 31500 is acting as Strong Resistance.
Today Global Trend was down but Nifty & BNF opened Gap Down and
also broke imp resistance of 31500 and closed above that.
Also, it gave closing above the Trendline.
Till 31500 approx 50 Lakhs shares are short (07th Jan Expiry).
I expect Non - Stop Rally of Bank Nifty to...
Points which I will cover:
1) Negative divegences - How they are still bullish
2) Fibonacci levels
3) Possible movement in the upcoming week
- Negative Divergences
Higher high on RSI and Lower high on price are clearly visible on the chart however, it is utmost important to notice the breakout in the falling RSI trend. It is favourblet to assumer that the recent...
** PLEASE NOTE THAT ALL LEVELS MENTIONED ARE SPOT **
Good evening! The index managed to take support around 29100 and bounced back but with a lack in vigour. At the moment all the highs are being sold by DIIs (and lows bought) while FIIs continue to remain net buyers. Even if the index breaches its 1 wk avg, now around 29940, it will face heavy resistance around...
BankNifty is in strong uptrend and my personal view on BankNifty is bullish medium to long-term.
However, you can expect correction soon. So, for swing traders and investors correction may provide you an opportunity to enter.
That's why you need to know from where BankNifty might bounce back. So, I draw key diagonal Support and Resistance level.
Wait for these...
The index has tested 30800-30900 levels multiple times a week, This is the major #resistance area. Momentum will come only on the #breakout. Today Important level is 31000 to 30600.
Long above: 31000
Short lower: 30600