The FINNIFTY index looks all geared up to start a 11-13% rally in the coming weeks to move towards 22700 levels.
The expected wave shall be the wave iii of III.
After having rallied in wave i of III in oct 2023, the index has witnessed a 61.8% retracement in months of jan-feb 2024.
Now since the triple three correction(WXYXZ) has been complete structurally, the...
Hello Traders,
Here is a Brief Overview About The Analysis of FINNIFTY For Feb 21st,
There Are Total of 2 Support Zones Which You Need To Look For And Same 2 Resistance Zones And To Be Mentioned One Grey Area And We Have 4 Imbalance Zones!
Important Level To Be Mentioned : 20800, If it Crosses It's Trending Otherwise, Downside OR Consolidate a Bit.
The...
Bank nifty has recently gone through a steep cut, shedding 4000 points in a matter of one month.
Looking at the the bigger picture however, tells us it could be a great time to enter into your favorite banking names(or even the index itself!)
The 4000 point decline was a wave ii retracement of the impulse that the index witnessed between Oct-Dec 2023. The...
The power index is all set to move towards the INR 7000 mark in the new wave v of (iii) of III.
The index has been in a strong uptrend since Feb 2023 and the trend only got stronger in OCT 2023.
The new wave is expected to touch 6968 levels soon.
6164 remains a crucial support for the index going forward.
The Nifty Metal index is all set to climb up towards 7200 in wave V of 3.
At the current levels it provides an excellent entry with really impressive RR.
6400 is the support
6270 SL
The idea here is about Bank Nifty:
My view is Neutral for the below observed technical factors.
Points as per TA observed on a Weekly daily & Hourly Chart:
1. Cup & Handle formation completed awaiting breakout as per below:
2. Doji candle formation on weekly chart as per below:
3. Bearish Bat harmonic pattern completed on a daily & Hourly chart as...
SEEING TOWARDS THE GLOBAL INDICES WE ARE GOING TO OPEN FLAT AND IF BANKNIFTY IS UNABLE TO CROSS THE SUPPORT WHICH IS NOW ACTING AS A RESISTANCE AND THIS MAY FALL TILL TARGETS (T1/T2/T3)
TODAY'S RELIANCE AMG WILL AFFECT THE MARKET SO BE CAREFUL IT MAY FALL MORE OR IT MAY UP MORE SO TRADE CAUTIOUSLY
IF IT CROSSES THE RESISTANCE THEN WAIT FOR PERFECT PRICE ACTION...
