Tomorrow i.e. Oct 11th can (hopefully) confirm if mkt is going upside or we will again reverse and go down. 44545 support is being tested again. Very IMP to note that we didnt close above 44545 (Futures). We have to have a closing above that to confirm mkt has reversed even with widespread gloabla negative sentiment. If we close tomorrow above 44545 and a green...
44500 support is broken. Market structure now broken and has entered BEARISH territory. Following are the levels expected 43956/43800/43500/43385. If the last support is taken away then we will be looking at 42650 and 39950. IMP Levels to watch out are 43400 and 42600 before touching 39950
44500 support is broken. Market structure now broken and has entered BEARISH territory. Following are the levels expected 43956/43800/43500/43385. If the last support is taken away then we will be looking at 42650
Today candle i.e. Sept 22nd 2023 will decide if we will take support from 44500/44200 levels and reverse or if markets will fall further. The likely support are 44500/44200/44000/43950. Mkt can take support from any of the above levels most likely at 44500 itself. Last support is at 43950. All levels are futures .
Though the fall is great today it still didn't break the line that is holding the uptrend. So i am still bullish. Until and unless the pitchfork line is broken i am not bearish. Market still has the chance to go up.
As per one day analysis BITCOIN is retracing and the level or support is at 28850 exactly speaking 28831. This analysis is basis Fibo retracement taken on one day chart. It has tried to break the high and failed at100% fibo level. Now it is ready for retracement and should soon hit 28850/830. You can go short now and exit at 28850
Today market has taken support at the most imp trendline. Now after 2 dojis all other technicals are showing clear upside. Our 1st tgt is 45700 and 2nd tgt is 46700
As per my pitchfork analysis we have broken the support of the pitchfork line. Couple of days we broke and went up and came down again. Now we closed well below the last support of 43698 and now we are confirmed downtrend to the line of pitchfork which is around 42500 and 42000.
BNF is exactly at the crucial juncture. 43698 is a very very strong support and should hold. If it breaks next support and tgt is at 43035. If we take support and go up then first tgt is 44050 above which we are out of downtrend. Upside would happen only if we cross above 44700 which effectively would close above the trendline. so today closing would be very...
Banknifty will remain directionless until we get a closing above either 44500 or closing below 43698 on day candle. Once any of those are obtained then mkt will move in the respective direction. On Upside tgt is 45400 and downside tgt is 43035 only if any of the above levels is broken
As bnf did not go past the trendline and today fall indicates the downtrend till 43035. At 43035 close all short position. Once it reaches 43035 we can then see what market does and then decide.
Until we close above the fibo channel 44325 dont trade upside. If you find a green candle closing above 44325 get into CE with tgt at 44500 and SL closing below 44325 Every fibo channel line will act as support on downside. The last support is 44042 below which if we close then we can go short
Mkt has closed below the trendline support. Now mkt will go down till 43650 and SL can be placed at 44000. Mkt can take support at 43650. If that levels is broken we will be heading towards 41500 and if we take support there and move upside then newer ATH can be seen with resistance at 44000 again.
Mkt clearly taken support at the trendline. This line has been holding since Apr 2023. High chance of reversal from here as this is a very strong trend line. But friday candle is a doji and closed below the trendline. we can only go long or short after seeing monday candle. If we close above the trendline with a green candle closing then we can go long else we...
Banknifty fell today like humpty dumpty but if you closely observe it took support at the major trendline. This is a very good thing. This line has held since April 2023 for more than 4 times though not exactly touching the line always. Tomorrow if we have a green candle closing then we can expect a good reversal. Dont go short until a candle closes below the...
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...
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.
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...