Expected level for this year.
Updated
Hey Folks!
I have marked the Target which is expected for bank nifty if it continues its uptrend.
But i want to discuss few important points:
•Firstly market participants are getting confused these days due to uncertainty in the market, like where it is heading down or up.
•If i particularly speak regarding Bank nifty then until we see bank nifty down by 6200 point or more from its all time high is hard to say that the ongoing trend is dangerous.
•Even if Bank nifty goes down by 6200 point then also it has the capacity to move around 4200 point in the opposite direction.What i mean to say that short covering can be seen of maximum around 4200 points even if it falls 6200 points.
•In simple words remember the pattern of 6200 - 4200 - 6200.
•If Banknifty falls around 6200 or more then it triggers a downtrend, which has a possibility of retracement or pullback upto around 4200 points and still continue to be in downtrend.
•But while remaining in a downtrend if it goes up by around 6200 points or more then it will trigger the Uptrend.
•In an uptrend a fall of around 4200 points has a potential to continue a uptrend from there.
•In a Downtrend a rise of around 4200 points has a potential to continue a downtrend.
All these discussions are based on my analysis with respect to bank nifty keeping the current volatility in mind.And it is not an investment advice.
Feel free to ask any questions incase you have one.
All the best folks!
I hope that can help you to decide a trend.
I have marked the Target which is expected for bank nifty if it continues its uptrend.
But i want to discuss few important points:
•Firstly market participants are getting confused these days due to uncertainty in the market, like where it is heading down or up.
•If i particularly speak regarding Bank nifty then until we see bank nifty down by 6200 point or more from its all time high is hard to say that the ongoing trend is dangerous.
•Even if Bank nifty goes down by 6200 point then also it has the capacity to move around 4200 point in the opposite direction.What i mean to say that short covering can be seen of maximum around 4200 points even if it falls 6200 points.
•In simple words remember the pattern of 6200 - 4200 - 6200.
•If Banknifty falls around 6200 or more then it triggers a downtrend, which has a possibility of retracement or pullback upto around 4200 points and still continue to be in downtrend.
•But while remaining in a downtrend if it goes up by around 6200 points or more then it will trigger the Uptrend.
•In an uptrend a fall of around 4200 points has a potential to continue a uptrend from there.
•In a Downtrend a rise of around 4200 points has a potential to continue a downtrend.
All these discussions are based on my analysis with respect to bank nifty keeping the current volatility in mind.And it is not an investment advice.
Feel free to ask any questions incase you have one.
All the best folks!
I hope that can help you to decide a trend.
Note
Expecting 46300 iin bankniftyNote
Best area for short will be above 46512.Note
Best area for Banknifty to fall is above 46512 and below 46460.Note
As per Banknifty 46300 PE premium breakout point is 148 for target of 200 and 251Note
Finally bankninfty reached the target .
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