YESTERDAY BANK NIFTY CLOSED AT 35802, WHICH IS BELOW THE 48 EMA CHANNEL IN 15 MIN TF, IN 1HR TF BANK NIFTY IS IN THE CHANNEL SO WE SHOULD PLAN TO SHORT BANK NIFTY BELOW THE PREVIOUS DAY LOW AND 200 MA WHICH IS 35681. BN PRICE CLOSED BELOW 8MA, 20 MA AND 50 IN 15 MIN CHAT WHICH SHOWS BEARISHNESS.
48 EMA :35984-34845
Yesterday was a quite boring and Rangebound Session, So for now we can Expect a Good Trendy Session tomorrow, If BN Gaps up, Then we should watch 35250-35320 Range, Either Side BO will decide the Upside Targets 35600, 35850, 36350, and Lower Side 35100, 34850, 34700,
We Should always the Trade the Chart, Not the Hopes. NSE:BANKNIFTY
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...
BANKNIFTY, Daily Chart
Three consecutive close above 33100 will take it to 36960 & 38000+++ levels in days to come.
Stop loss below 31500 on a closing basis. Any fall downside will be buying opportunity.
I am not SEBI REGISTERED...