BNF breaking trendline and making LL trend fib level is on support
I'm looking for bank nifty shorts, have marked potential Point of interest, where price may reverse
BNF just broke H&S pattern be ready :) Retracing from r 1 broke fallign wedge trendline already OI is showing all negative changes in PUT sides
RSI 15 min 40 taken support Morning star candle stick pattern at support Weekly pivot alreayd crossed
BNF making falling wedge in higher time frame We may find chance to short from top of rising wedge dynamic resistance as drawn Enjoy my analysis is for study purpose only :)
Bank nifty today reputed same pattern Triangle and closed at edge of triangle, so tomorrow if its start with spot where i close and 5min bullish we may see up move or if its gap up gap down and cross the pattern it may take direction as CPR is very right for tomorrow we may expect volatility. Above are my personal observation posting my study if it can help...
BNF is seems on bullish mode ,,,, RSI is higher on most of time frame,,,, ADX shows tending above 20 & +DI also in ,,, Big wedge Pattern breakout ,,,, Trendline breakout,,,,, Price taken support on 9Mea 4hr time frame,
BNF showing positive divergence RSI on 30mn time frame Also taking multiple support on important level forming triangle once broke out may fly
BNF can give recovery from current level if hold for whole day As i think market will recover from here 1. it made double bottom from important pivot level. 2. RSI is positive diversions 3. made morning star in smaller time frame 5min
BANK NIFTY making flag pattern with negative RSI divergence there are two important supports 36000 & 35680 important support level if this break it will be ,,,, Rising wedge (reversal pattern) breakdown which means big fall...
bank nifty reached ressitance i am looking for quick point dwn as RSI is low and there is pivot resistance
tomorrow i will trade with more than 80% of my trading capital with directional trade. Why? Because of last day bank nifty plot a master candle and after master candle there is a high probability of one side sharp move. so you can trade with a good quantity out of the range of 35200 and 34900.
Levels are market on the basis of fibs and these rectangle areas are my understanding for orderblocks, might be a good pullbacks.
BNF future, it's too early and still developing, Let's hope the upside BO comes before this completes.
Trade Wisely And Smartly . Clearly the trend is bearish small bounces may occur , but overall market is in panic mode. Stay wise Buy on dips wont work, use option strategies to hold overnight. Dont go for naked option buy or sell. The levels are given ,which can be seen in todays session or tomorrow.
there is a bear run on market so not buyer are interested to run bull now. beware to buy this time