BANKNIFTY Analysis - Continuous, Just as the Markets !

BANKNIFTY INDEX FUTURES (NSE:BANKNIFTY1!)

Updated

NSE:BANKNIFTY1! BANKNIFTY INDEX FUTURES

trendanalysis chartpattern indicator banknifty trendanalyisis volumeanalysis priceaction futures indianstockmarket containsioscript

This is a Thread, so Follow for Technical Analysis performed with TrapZone Pro & Unusual Market Volume Detector (UMVD) Indicators.

* Trend is Based on TrapZone Color
* Bar Colors give us Momentum Green from strong Up Moves. Red Bars point to strong Down Moves.
* Red UMVD = Selling Pressure & Green UMVD = Buying Pressure. Purple is for Divergence = Battle of Supply & Demand

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1-15-2024
UP trend with Green TrapZone and UMVD. Price has not retraced to TrapZone yet. Strong momentum up.

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On an Hourly Candle chart

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Intraday i.e 1 second rRenko view. shows buying takes the Price higher

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On the Daily

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Latest

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Strong Down Trend - Intraday Settings. Divergence in place, lets see what shows up after that

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Latest - Prices went down with RED UMVD After divergence. Now GREEN UMVD is pushing the prices slightly higher. TrapZone is Still RED

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Prices go higher with GREEN UMVD after divergence. Trend is up with GREEN TrapZone.

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Latest Intraday - RED UMVD after Divergence gave early signal of selling and the Prices were pulled down.

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Prices churning lower with UMVD Pushing the bids around

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Hourly Check In - Price bouncing at a KEY Level. RED TrapZone formed and UMVD is RED. KEEP Both EYES open.

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Latest Intraday

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Side By Side Analysis - Buyers may be trapped in the short term Renko starts trending down again with RED UMVD. some buying has stalled the decline at the moment.

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Green is GREEN ! we are going up at the moment

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Trend is sideways. So volume may slosh the prices UP and DN/

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Bullish Price action is shifting the Trend to UP at the moment

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Hourly Technical Analysis Check ins
Probably one of the strongest price action across Major Indexes around the world. It has not gone parabolic YET. Others may have overshot. Angle 3 is good for now. Current retrace is ongoing evident with RED UMVD

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