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.
My trending system generated a buy signal on a 15 minutes time frame.
The buy signal was generated 29600 with a tight SL of 29400.
The targets for this level are coming around 30500-30400 and these levels are also a major supply zone!
I use my system to identify a trend and to find possible targets I prefer to use Fibbo levels.
Trading Bank nifty would be very challenging this month.
Monthly Chart - Formed Bearish Engulfing
Weekly Chart - Bullish engulfing
Daily Chart - Big Bull candle but at resistance ( may become last engulfing)
If on Monday. Banknifty does not take out 22300-22500 levels on the upside, chances are high that it would be going down again.
Immediate Support @ 21670...
Bank Nifty Future Analysis:
Showing clear signs of bullishness as per price analysis with high volume and poor bearish candle formation. Bnf futures had gone to run stops inorder to get liquidity for the upside in the coming days.
This is a clear long setup and initial target of 21800 was hit.
Note: This surpasses all retail logic and thinking. There was no...
BankNifty looks strongly bearish and 19500 is likely to test soon.
Trend is down from daily time frame to 1 minute. So, I will wait for pullback just to enter a short trade unless it breaks blue trendline.
For the time being, 21000 is the crucial resistance level and 19500 will act as support.
Check out the Blue downward trendline which may act as resistance and...
On 29th of June, i gave a trading idea which has been activated today! See Related Idea!
What's interesting is the confluence of Pitchfork Breakout and my redline? Isn't it?
Expect a large fall, whatsoever people tell you from here!!!
Trade at your own risk! For Educational Purposes Only!
hi,
First happy to all of you... We had seen a massive blood bath from couple of weeks and main question is when it will gonna to stop and where is the bottom of index, Well Index is currently trading on Harmonic PRZ. Did take a bounce from here in last trading session but remember harmonic predict only swings . Harmonic prz not a signal for trend change. we will...
If BankNifty breaks the trendline with a strong selling volume, then you may witness 30500 levels. However, it may touch 31150 if it gives a breakout above 30930.
Moreover, I also found that there is a bearish divergence in 5 and 15-minute charts which may be valid for the first 30 minutes of trading.
Being an expiry day, Open Interest also suggests that expiry...
![BANKNIFTY: Banknifty Intraday Trade Setup [19 Feb 2021]](https://s3.tradingview.com/w/wqVk8wgt_mid.png "Banknifty Intraday Trade Setup [19 Feb 2021]")
![BANKNIFTY: BankNifty Day Trading Setup [20 Feb 2020]](https://s3.tradingview.com/f/fABQdn5b_mid.png "BankNifty Day Trading Setup [20 Feb 2020]")
