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Niftybankanalysis

Picture of Bank Nifty for June and July monthHey everyone, Recently a lot of question has asked from our subscriber that we do not understand the chart and I would like to say only one thing that if you guys do not understand the chart than how can you trade. Do not trade blindly see the idea and analyze that what is logic behind of the Idea. We had seen lot of up and down move since May month. Index move is confusing and hard to predict the long term move but I will give a try . Index gave a reversal from harmonic PRZ 0.886 level and made 0.50 low as per fib levels. Bounce back from 0.50 and trading in upside atm. There is only one barrier that sits on 22,000. if Index breaks 22,000 and sustains above than we can a new high 24,000. I am not talking about Intraday here. We have 2 levels to watch for June and for July month. The first is 22,000 and the second is 19,500 and these 2 levels decide bank Nifty future. Btw in this range bank, the Nifty move will be miss. We can see fresh bloodbath if 19,500 breaks. Thanks Virendra Pandey
NSE:BANKNIFTY
by CodeViser
4
Bank Nifty Intraday Trade Setup for 9th June 2020Good Morning friends, Yesterday we have seen a major downfall from the opening price and Index has given a good move in the downside. Our Trade setup was a 15-minute candle high and low and it's helped us a lot in yesterday's trading session and we made good money there but Index is still bullish and can be traveled 21,980 to 22,890. This 1000 Point range is the supply zone and Index must go on this level before giving a correction in the downside. This is our midterm view. but as I always said that every day is different than others so the main question is what is our today Trade setup. Technical View ==================== The index is trading in a channel and channel since march and this channel resistance comes on 22890. A lot of confirmation in this price range such as our Harmonic XABCD pattern PRZ Area follows up with Harmonic ABCD pattern as well. Impulse waves also Indicate that the key resistance is on 22,890. Index key support is still on 20,200 Trade setup ============ Buy above: 21,550 SL: 21,230 Target : 21,740/21,980/22,140 Sell Bellow: 20,950 SL: 21,190 Target : 20,760/20,600/20,380 Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take a different views and opinions. Good Luck and Happy Trading Virendra Pandey
NSE:BANKNIFTY
by CodeViser