BANKNIFTY Forming Pole&Flag 1Hrs TF and taking retracement on Fibonacci 0.5 Level or can take support from 44444 Level and move up from last day High towards All time High.
Making every day new highs and would still continue upside more with small pull back and retests.
Nifty has formed Double top and in 15 min tripple top at all time high so nifty has recently made LL&LH If nifty breaks it and consolidate at current Levels and make HH&LH formation then it can make NEW ALL TIME HIGH in the next month and can continue journey to 19000 and higher in next 2-3 months and If not then it will fall or may be sideways to downside next...
In finnifty it is forming descending chart pattern and also Double Bottom if it breaks upside then we can se 19500+
At 15 Min TF NIFTY made a bearish chart patter at major resistance levels Head & Shoulder chart pattern and it looks bearish if it breaks the support / break of structure and retest it with a good confirmation.
Dr. Reddy's laboratories Made a bullish move on major levels and then trap them and now making a falling wedge pattern now major support at 4400 if it breaks with huge volume then there is high probability that it starts new bearish trend in it but now Pharma sector can be bullish and it will affect Dr Reddy's laboratories so keep an eye on it.
On daily Timeframe analysis CIPLA Chart is making cup and handle pattern at major levels If it breaks down side good fall expected but in bullish major resistance levels are there.
Today BN chart is confusing because global market are getting positive Nasdaq us up by +2% so let's see what happen
As per my perspective of the market On Monday market will open gapup and if market will make any negative candle (shooting star) on higher side (42500-42400)after gapup opening than afterward market will further again move towards 42000 levels and continue sell Off because market can taks rejection from fibo level 42522-24.
Today Market Open on a level where yesterday market breakout & retest in downward direction and today Market Open gapup upside resistance and then it start falling with movementum. So today I Learnt that Believe in your setup and analysis.