Skip to main content

Bank Nifty EOD Jan 5 Update

Today bank Nifty opened Gap Up and continued to move up till 18164. We will take a look at Daily chart:
Daily chart shows that Index is moving within channel shown in Blue color. Index reversed from Mid BB line and this zone is providing strong resistance to Index. Expect Index to move down towards lower line of channel unless it takes out 18250 level on daily closing basis.

Hourly chart suggest completion of wave b and Index should move down in wave c of wave 5(As assumed by me).
The possibility of Diamond shape pattern can not be ruled out. In that case, we should see a sharp down move.
Labels:

Comments

Post a Comment

Popular posts from this blog

Intraday Index Options Trading by Degree Gann Number System ! E-book available on Amazon - Download FREE!

  For the next 3-days, E-book is available FREE for download! Take advantage of this promotion. Requesting to write a review on amazon. Download link:- https:// amazon.in/dp/B09DHFS5KJ
Post a Comment
Read more

Bullish Stocks to watch for Week Jul-13-17, 2020

PVR: CMP - 1047.10 Above 1070 Target 1140/1240/1300/1320 SL: 1005 NIITTECH: CMP - 1592.90 Above  1620 Targets are 1750/1770 SL: 1560 MCDOWELL-N: CMP - 636.10 It achieved all targets give in the last week. It looks to continue its bullish momentum. Above 643 Targets are 660/670 SL: 630 JINDALSTEL: CMP - 169.15 Above 171 Targets are 178/182/190 SL: 165 This is only for educational purposes. I am not advising any trades. 
Post a Comment
Read more

Bank Nifty EOD Update Mar 14

As expected Bank Nifty opened major Gap Up of 462 points at 20189 and made high of 21274 and then retraced to make day low of 21059 and closed at 21102. Daily chart shows, Bank Nifty broke the upper line of blue channel within which it was moving for last 3 weeks. Bank Nifty closed above 21100 that is 3 digit Gann no, hence bullish for Bank Nifty. As long as it close above 21100 on daily closing basis view is bullish on Bank Nifty for target of 21800/22500 in coming days. Angles on Hourly chart shows Bank Nifty reversed from 26.5 degree angle and find support at 18.75 degree and bounced back. Tomorrow Bank Nifty may move in narrow range and protect today's Top/Bottom awaiting Fed rate decision and may react in Thursday morning to news!
Post a Comment
Read more