#banknifty analysis for 23rd June'2021
Lower Time Frame Analysis:-
It's normal to give a 50% pullback for the move from 33,937 to 35,281.
Again 34,450 to 34,600 area is a place to enter long, for higher targets.
"We are in the up move which started on 3rd May from 32,054, which made high of 35,810 after 1 month on 4th June. Last 2 weeks we...
Long-term Bias (Weekly): Bullish
Medium-term Bias (Daily): Bullish
Short-term Bias (195 Min): Neutral
Bank Nifty has been consolidating and now bouncing from the support now which suggests bullishness. Hence I am bullish until the highlighted levels are mentioned in the analysis are taken out :)
I explained is more in the video than typing here
#banknifty analysis for 21st to 25th June'2021
We are in the upmove which started on 3rd May from 32,054, which made high of 35,810 after 1 month on 4th June. Last 2 weeks we in correction move (wave 4 of the intermediate trend - Which is ideally 4th wave which ideally 50 % - 33,932 to 61.8% - 33,489 of upmove)
We are in ABC correction if we look at the...
Historically NIFTY showed possitive clossing for many years, what about this june? Is it different?
YES.... Read my simple EW chart with NW timing.
It is obvious from the chart , when to take long or short ,with targets. (The power of EW forecasting)
Adani Port Some big boys know the exact news and now smart money going out from this company . Think like a Pro and do your study before taking any trade .
Disclaimer: This analysis only for study purpose . Consult your financial Analyst before any Trade.
Process to identify Double Bottom Pattern:
1) Find out Support/Demand Zone in the script
2) Use RSI to identify any divergence in current trend
3) Place Early Entry or Wait for any candlestick pattern confirmation - i.e Hammer , Bullish Engulfing, morning star or others bullish pattern.
Entry and Stop Loss:
1) Early entry at support level on basis of RSI...
As Nifty is breaking all time high again and again it is better to invest in some blue chip stocks on dips.
Only buy after retracement.
I will update the targets here.
So folks feel free to DM or comment.
Nifty traded in a wide range of approx 300 points today.
Candle formed today is a Big range hammer candle.
Candles Structure is of lower low, lower high.
Gap resistance above hammer candle
Price support underneath hammer candle.
All above observations are somehow suggesting that the index might oscillate in a big range in the coming week, it might see selling...
#banknifty analysis for 15th June'2021
Decision Zone:- 35,088 - 35,092
Resistance:- 35,350 / 35,550 - 35,650
Support Zone :- 34,930 / 34,801 /34,673 / 34,259 / 33,964
Reduced the time frame to 15 min, to capture intraday moves.
I will try to post delta updates on a daily basis or if there is any significant change in structure.
One of the best forms of PA...
#banknifty analysis for 18th June'2021
Deleted the whole chart and recreated it, 35,500 zones will be a hurdle zone, still, I see RRR is in favor of long, Oscillators is already in the oversold zone.
Note:- Majority of pivot points are in 35100 are and 10 & 20 DMA is placed at 35,060 & 35,081 respectively, till we cross 35,100 selling pressure will...