sunilvedula

sunilvedula

Banknifty has clearly taken support at the trendline . If the trendline would be broken the i was looking at the pitchfork line to give support but lucky for us the trendline held. Now the good things is that we closed above 44058 convincingly green doji after 2 red candles. We made continuous higher high pattern. Now we are ready to make another ATH. I am...

sunilvedula

If the global cues can be taken into account and BNF exactly at the support line there is a high possibility of market making upside move or wll move sideways for a few days to pickup the momentum and then will go up. If the support is broken down then we can see BNF touching 43272 where it will take support. All levels mentioned are Banknifty Futures.

sunilvedula

Banknifty on expiry day May 25th 2023 is opening gap up. Overall world market is bearish with debt ceiling tensions. high possibility that market can come down then supports exists as seen on Schiff pitchfork 43642 and if that is broken then 43480 and 43410. But if we hold and go up contrary to the world scenario the first target is 43900 and second final target...

sunilvedula

Basis 1hr candle pattern and Fibonacci as per the figure you can see multiple breakout and retracements have been completed. Now I guess there is next breakout that is pending to 44151 . If we close above 100% fibo line which is at 44151 then we will touch 127.2% fibo line which is at 44342

sunilvedula

The way Banknifty is poised is very tricky. As per Fibonacci retracement we have touched the 100% line and there is a high likely chance of retracement . If we retrace then the 61.8% line is at 42061. But looking at the consolidation that is happening if we give a breakout then the upper side target would be 45000 and 45661.

sunilvedula

Market perfectly taken support at the Pivot or the line of pitchfork on 15min as you can see in the image. Please note that everyone is waiting for US Inflation data which will come today evening and then all markets will move. Today it can remain sideways and we can have blasting expiry tomorrow. Bearish View: If we have a 15min candle closing below 42150...