sunilvedula

sunilvedula

Market has become galaxy of star formations. Yesterday candle formation is a Spinning top , day before yesterday is a shooting star. But we haven't crossed the trendline yet. If we cross 44402 on the upside(SPOT) then high chance for trend to reverse. Else, we are stuck in the downtrend and we will continue. For now we are moving sideways and the shooting start...

sunilvedula

Please see the fibo drawing. Mkt has taken resistance at 100% levels forming a double top. Now very high chance that mkt can break the 38.2% line if it comes down which is at 43406.5. All the levels are clear in the drawing on the downside. This is for a distant view . pls keep an eye for all the levels. The first tgt is 43406.5 after which we need to watch the...

sunilvedula

We have closed at 44394. We have effectively closed below 44500. 42650 is the next support and if that doesn't hold mkt can effectively go to (40450-39950) to fill the gap that is present there. It will not be a straight fall as there are lots of support at 43956/43800/43500/43385/42650/41750. All levels are futures based.

sunilvedula

Tomorrow i.e. Oct 11th can (hopefully) confirm if mkt is going upside or we will again reverse and go down. 44545 support is being tested again. Very IMP to note that we didnt close above 44545 (Futures). We have to have a closing above that to confirm mkt has reversed even with widespread gloabla negative sentiment. If we close tomorrow above 44545 and a green...

sunilvedula

44500 support is broken. Market structure now broken and has entered BEARISH territory. Following are the levels expected 43956/43800/43500/43385. If the last support is taken away then we will be looking at 42650 and 39950. IMP Levels to watch out are 43400 and 42600 before touching 39950

sunilvedula

44500 support is broken. Market structure now broken and has entered BEARISH territory. Following are the levels expected 43956/43800/43500/43385. If the last support is taken away then we will be looking at 42650

sunilvedula

Today candle i.e. Sept 22nd 2023 will decide if we will take support from 44500/44200 levels and reverse or if markets will fall further. The likely support are 44500/44200/44000/43950. Mkt can take support from any of the above levels most likely at 44500 itself. Last support is at 43950. All levels are futures .

sunilvedula

Though the fall is great today it still didn't break the line that is holding the uptrend. So i am still bullish. Until and unless the pitchfork line is broken i am not bearish. Market still has the chance to go up.

sunilvedula

As per one day analysis BITCOIN is retracing and the level or support is at 28850 exactly speaking 28831. This analysis is basis Fibo retracement taken on one day chart. It has tried to break the high and failed at100% fibo level. Now it is ready for retracement and should soon hit 28850/830. You can go short now and exit at 28850

sunilvedula

Today market has taken support at the most imp trendline. Now after 2 dojis all other technicals are showing clear upside. Our 1st tgt is 45700 and 2nd tgt is 46700

sunilvedula

As per my pitchfork analysis we have broken the support of the pitchfork line. Couple of days we broke and went up and came down again. Now we closed well below the last support of 43698 and now we are confirmed downtrend to the line of pitchfork which is around 42500 and 42000.

sunilvedula

BNF is exactly at the crucial juncture. 43698 is a very very strong support and should hold. If it breaks next support and tgt is at 43035. If we take support and go up then first tgt is 44050 above which we are out of downtrend. Upside would happen only if we cross above 44700 which effectively would close above the trendline. so today closing would be very...

sunilvedula

Banknifty will remain directionless until we get a closing above either 44500 or closing below 43698 on day candle. Once any of those are obtained then mkt will move in the respective direction. On Upside tgt is 45400 and downside tgt is 43035 only if any of the above levels is broken

sunilvedula

As bnf did not go past the trendline and today fall indicates the downtrend till 43035. At 43035 close all short position. Once it reaches 43035 we can then see what market does and then decide.

sunilvedula

Until we close above the fibo channel 44325 dont trade upside. If you find a green candle closing above 44325 get into CE with tgt at 44500 and SL closing below 44325 Every fibo channel line will act as support on downside. The last support is 44042 below which if we close then we can go short

sunilvedula

Mkt has closed below the trendline support. Now mkt will go down till 43650 and SL can be placed at 44000. Mkt can take support at 43650. If that levels is broken we will be heading towards 41500 and if we take support there and move upside then newer ATH can be seen with resistance at 44000 again.

sunilvedula

Mkt clearly taken support at the trendline. This line has been holding since Apr 2023. High chance of reversal from here as this is a very strong trend line. But friday candle is a doji and closed below the trendline. we can only go long or short after seeing monday candle. If we close above the trendline with a green candle closing then we can go long else we...

sunilvedula

Banknifty fell today like humpty dumpty but if you closely observe it took support at the major trendline. This is a very good thing. This line has held since April 2023 for more than 4 times though not exactly touching the line always. Tomorrow if we have a green candle closing then we can expect a good reversal. Dont go short until a candle closes below the...