There are three probabilities. I feel it'll move mostly either flat or in upward direction. 30,000 will be a crucial level. Be careful with your position sizing and R:R.
I have bullish view tomorrow, Psychologically institutions wants to push the price 30,000+ before this Fut expire. So for tomorrow let 5mins candle close above 29800, and you can plan for Long position. If not and opens flat or gap down crosses 29650, Then the support is placed at 29400 & 29200. Watch out for rejections at resistance on 5mins & 15mins chart. ✌️
Bank nifty made a new intrady high of 29827 but couldn't close above the previous high on closing basis of 29749 (18th Nov).
This signifies dragging of bull run till the end of a series, distribution at higher prices.
Bank nifty unless closes above 30,030 is not not a candidate for long. Stay cautious and for existing long positions keep strict stop loss of...
Flag pattern on 15 minutes chart. Let's see tomorrow first 15mins, Then wait for the breakout.
Friendly reminder: Don't forget to keep stop loss and your losses should be predetermined before your target.✌️
I have bearish view on Bank nifty for tomorrow. If it breaks the levels of 28,800, Then there will be good downside movement.
Support Placed at levels of 28500-28400.
If nifty sustains 28850 level and try moving up then the resistance placed at levels of 29300-29350.
Views are personal. Not responsible for one's P/L.
Bank nifty is looking bearish. As it has made series of new Higher and Higher low. But in the month of august it cannot make new higher and and formed a lower high around 22400 level and reversed, which is a good sign of reversal. It is also forming a head and shoulder pattern. 21000 level is being a very strong support where banknifty has bounced back three...
