Banknifty trend based fibonacy levels are mentioned on chart
I am not sebi registered analyst
My studies are Educational purpose only
Consult with your Financial advisor before trading or investing
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, 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...
Buy above and Sell Below levels are given.
Simple Low Risk approach:
If Bank Nifty Opens, sustains and goes up in the Green Zone, buy.
If Bank Nifty Opens, sustains and goes down in the Red Zone, sell.
If Bank Nifty opens in the white zone, wait for the trend to reveal itself.
Ignore everything else.
Riskier approach (Ignore if you like playing safe)
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...
** 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...
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.
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...