BANKNIFTY -1H | NEXT EXPIRY VIEW?
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Hello Traders, Welcome to Oneshot Traders!
BankNifty given good movement as we expected and made good profit in today's expiry trades.
Now, What Next?
As BankNifty still holds the support level 43400, I Have 2 Interpretations in my mind for next movement in banknifty.
1. The pattern looks like a HEAD AND SHOULDER PATTERN. To complete this pattern it should break the 43400 level to complete this Pattern.
2. Forming a FALLING WEDGE PATTERN. Here also the same, the price should move down to the support 43400 level and reverse with a bullish candle in higher timeframe.
My Both setups are shown in the chart.
Now you may understand that this analysis is not just for next immediate move. So, please be stay tuned here and click on follow button. Receive further updates directly to your mail when we update here.
Thank you,
Happy Trading...
BankNifty given good movement as we expected and made good profit in today's expiry trades.
Now, What Next?
As BankNifty still holds the support level 43400, I Have 2 Interpretations in my mind for next movement in banknifty.
1. The pattern looks like a HEAD AND SHOULDER PATTERN. To complete this pattern it should break the 43400 level to complete this Pattern.
2. Forming a FALLING WEDGE PATTERN. Here also the same, the price should move down to the support 43400 level and reverse with a bullish candle in higher timeframe.
My Both setups are shown in the chart.
Now you may understand that this analysis is not just for next immediate move. So, please be stay tuned here and click on follow button. Receive further updates directly to your mail when we update here.
Thank you,
Happy Trading...
Nota
Current Resistance zone is 43787 - 43845Nota
Whole day price respecting our resistance zone.
Penafian
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