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Vasu_devan

Bank nifty view

Nifty Bank Index (NSE:BANKNIFTY)  
Vasu_devan Updated   
NSE:BANKNIFTY   Nifty Bank Index
Trend Analysis Chart Patterns Technical Indicators BANKNIFTY bankniftytrend bankniftyanalysis bankniftyview bankniftytradesetup bankniftylevels bankniftytrading
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trendanalysis chartpattern indicator banknifty bankniftytrend bankniftyanalysis bankniftyview bankniftytradesetup bankniftylevels bankniftytrading
BANKNIFTY has pulled back by about 1000 points with in a span of seven days. Now reached level where earlier a lot of buying interest was witnessed (Watch it in the chart marked with rectangle box).

One interesting point to note in this pullback is that even though there were range expansion of candles volume expansion is missing altogether. See the chart.
Also look carefully in the chart and see that in the past whenever price pulled back with low volume the expansion to the upper range was quick.

So the two important points to note that.

1) Price is in the zone where in the past lot buying interest was witnessed with heavy volume.
2) The current pullback has no volume back up. The last days volume was almost negligible.

Good Luck
Comment:
snapshot

So... 800 points up from last update. Hope it helped. Be light on position, Increase position size only when Higher high establishes on hourly time frame.
Comment:
up... 1700. Now lets close this.
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