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Bankniftyanalysis

BANKNIFTY--Consolidation or Bullish ??BANKNIFTY is rejected from the main channel and fall happens... we have detected a break below the secondary channel as well. If tomorrow price opens gap down or consolidation happens below 47400-47000 levels then liquidity will be clear on bottom side @47000 levels. If tomorrow again opens up and we have a chance of continuation to upside for the retest of secondary channel and may fall back again. Price is slowly creating a down ward channel, keep safe from these levels. Rarely, If consolidation happens above the secondary channel then it will again test ATH levels..
NSE:BANKNIFTY
by IIT-Trader
1
BANKNIFTY--Consolidation or Bearish??BANKNIFTY broken the bullish channel downside, if tomorrow price opens gap up or bullish, keep looking for short side. if price comes back to 48400 levels, look for short. Lot of liquidity is lies below 47000 levels... this time price clears the liquidity on bottom side and then tries to be bullish again. wait until it comes to these levels and observe a rejection from the channel... careful before going long.. If we observe again a consolidation on topside...another bullishness is going to observe soon.
NSE:BANKNIFTY
by IIT-Trader
3
BANKNIFTY: SYMMETRICAL WEDGENSE:BANKNIFTY has made Symmetrical wedge. After the fall in 15 mins chart on 2nd Jan 2024 NSE:BANKNIFTY has formed symmetrical triangle where there is a possibility of breakout. I have given Target and stoploss and reasoning of the target on the chart itself. One should wait for the breakout to happen and then closing of candle above the breakout. If the breakout is in downside direction that is by breaking of upward sloping lower bound then the distance between low and high of the wedge will be the target but on the downside.
NSE:BANKNIFTYLong
by VanshikaUdeshi
2