Index closed at Resistance Zone, wait for breakout or rejection for Entry. Bullish > 52000 Bearish < 51800
Observations:: The Banknifty index is showing selling pressure in ths zone @43900 level... but failed to take the price below yesterday's supply zone @43700 levels. until price breaks this level and retest don't think of short again... False breakdown may also happens....don't go for short until price breaks 43600 level. It may again reverse... if we see the...
Observations: NSE:BANKNIFTY price is clearly in a range between the demand zone and supply zone. its clearly a range bound market. we are still in the uptrend only, in bank nifty ,no sign of bearishness in the market at all time high also. price broken the demand zone at 43950,closed above the demand zone. and tested the supply zone forms at 44120 levels. ...
Observations: -----> After Strong breakout from 43000,price opens gap up means buyers want to take the price to higher levels. ------> Gap up + Consolidation at 43500 is observed. price is moving downwards, means price wants to go upside test of demand zone at 43000 breakout. -------> If it is a false breakdown at 43350 level, and price moves again upside, look...
BANKNIFTY closed is near major daily support level. Once it break we may see next daily support in coming days. Levels of daily, hourly & 15min timeframe marked on chart for today. Follow Price action & trend Like, Share, Comment for regular updates. Disclaimer I am not sebi registered analyst My studies are Educational purpose only Please consult with your...
Updated levels for Banknifty. Waiting for breakout or breakdown. I am gonna buy after retest.
Based on levels and trendlines. Longer levels are strong support and resistance (for day trading and swing trading) and shorter trendlines are weaker support and resistance (for day trading and scalping).
MARKET COMMENTARY : Bank nifty has clearly given a breakout above parallel channel which indicates a good control in the hand of bulls, sustaining around 21700 level will take it further high up to 22071 to 22500 level as well. Control of shift from bulls to bears will take place only below 21280 which can further drag it down to 20650 level. APPROACH : As...