Ready for 50000 next move for Banknifty
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Create Triangle Chart pattern
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Bank nifty has recently gone through a steep cut, shedding 4000 points in a matter of one month.
Looking at the the bigger picture however, tells us it could be a great time to enter into your favorite banking names(or even the index itself!)
The 4000 point decline was a wave ii retracement of the impulse that the index witnessed between Oct-Dec 2023. The...
Bank Nifty chart form symmetrical triangle Pattern waiting for breakout if it will sustain on trendline then breakout with a good candle it will touch 48633.
Hello Guys,
Good Morning everyone,
According to the data today market is going to open gap up
After A gap up opening if Banknifty sustains Above 48400 and takes Support from 48400 then open target for T1-48500, T2-48600,T3-48700
If the Banknifty gap up opening sustains Below 48000 and takes resistance below 48000 then the open Targets for T1-47800,...
I am sharing the important levels of Support and Resistance. These levels play a crucial role in trading decisions, as they act as reliable markers of price movements.
------>>Support levels are price points where an asset tends to find buying interest, preventing it from falling further.
---->Resistance levels, on the other hand, are points where selling pressure...
The neckline broken strongly...
the trendline broken strongly....
Price opens gap down and moved to down side drastically.
Now we have 2 options, where to look for short again.
1. Neckline or
2. Trendline.
So in order to reach these 2 points, price has to reversal,
so from which zone we can expect a reversal.
If we see on bottom side,
today price has taken...
Observations::
If we see on daily time frame, price has broken the previous resistance at 44200 level, with a strong consolidation.
price moved to the upside with strong consolidation.
let us consider this as a consolidation + upside == Fall.
price is not giving any sort of retest to the previous resistance 44200 level.
If we observe a pullback towards the...
Hello Guys,
Good Morning everyone,
According to the data today market is going to open Flat
After A Flat opening if Banknifty sustain Above 45000 and taking Support from 45000 then open target for T1-45200,T2-45300,T3-45400
If the Banknifty Flat opening sustain Below 45000 and taking resistance below 45000 then the open Targets for...
Observations::
The Banknifty index has again strongly moved back up again from 43400 levels.
It has broken the supply zone @43700 levels..
tomorrow if the same level acts as support price is bullish and will reach again top side.
If price wants to test the supply @44300 level, it has to break the 44100 and 44200 levels.
these 2 levels are stronger so, we can...
Observations:: ((This part continuation to Consolidation + Down = Up))
---After a strong consolidation + downside = Upward Is Done.
--->> The Base is again acting as a resistance so price fall is done.
---->>now price is nearly at its demand zone,43400 if this zone breaks or not??
the possibility of breaking this zone is more until price is below 43700...
Observations::
---->> A strong bullish momentum is observed from this zone...43400 level...
---->> To reach this zone 43400 level from resistance price is approching with strong consolidation.
---->>if this zone again acts as support,will be on buy side until the Base low 43900, Base High 44200 only.
---->> Drop-Base-Drop formation is observed.
---->>If the base...
Observations::
Price has broken the trendline...strongly
now we have to see it will continue to drop or will retest the trendline...
if we see the chart,
trendline retest if possible test area is 44200 or strong fall area @44350 level.
If we see on bottom side...strong reversal is observed with gap @43700 and is still not at finished.
if price fall continue we...
observations::
We have resistance in the range 44270-44255,
if failed to resistance price will reach 44340-44310 range.
we will observe some consolidation in this area 44250-44360 range.
we have support @44150-44140 range ,if failed will go for short.
we have bearish gap @44450 range...
if price breaks the resistance @above zones.. will observe gap may...
Observations::
Price is exactly closed near the trendline...
if trendline acts as a support we will observe bullishness again...
if price breaks the trendline and takes the help of demand zone to move up again.
We have a demand zone 43400,which is a strong demand may acts as support again.
keep watch these 2 Levels.....
1.Trendline Support or
2.Demand Zone Support.
observations::
--------->>Price is still in the range only, 44200- 43600 range only. we cannot predict the next momentum until price breaks this range.
------->>until keep in the buy side from 43400 and sell side from 44200 levels.
Use the principle range bound market, buy @ support and sell @ Resistance.
If we see the same chart in different way it looks like...
