Hello Traders,
BANKNIFTY for the past 10 Trading sessions faced a RESISTANCE at a downward TRENDLINE.
PRICE rejected 5 times at the TRENDLINE.
Today it gave a breakout and BANKNIFTY closed above the Trendline.
*** 34000 is very important level at HIGHER TIMEFRAME ***
1) If BANKNIFTY break & Retest that 34000 level. We can go LONG .
----> Because yesterday was a BULLISH ENGULFING in a DAY CANDLE on BANKNIFTY, and today also price close above the previous day high.
----> BANKNIFTY also breaked a TRENDLINE.
----> NIFTY is also formed a same structure and it also gave TRENDLINE BREAKOUT.
----> ONLY when NIFTY goes above WEEKLY PIVOT which is 16400.
TARGET --- 34500 & 34900
2) If BANKNIFTY faced any RESISTANCE at 34000 level we can SHORT BANKNIFTY.
TARGET --- 33300 & 33200
( NOTE : TOMORROW IS WEEKLY EXPIRY SO WE CAN EXPECT MORE VOLATILITY )
Do comment your thoughts ...
Thank you <3
BANKNIFTY for the past 10 Trading sessions faced a RESISTANCE at a downward TRENDLINE.
PRICE rejected 5 times at the TRENDLINE.
Today it gave a breakout and BANKNIFTY closed above the Trendline.
*** 34000 is very important level at HIGHER TIMEFRAME ***
1) If BANKNIFTY break & Retest that 34000 level. We can go LONG .
----> Because yesterday was a BULLISH ENGULFING in a DAY CANDLE on BANKNIFTY, and today also price close above the previous day high.
----> BANKNIFTY also breaked a TRENDLINE.
----> NIFTY is also formed a same structure and it also gave TRENDLINE BREAKOUT.
----> ONLY when NIFTY goes above WEEKLY PIVOT which is 16400.
TARGET --- 34500 & 34900
2) If BANKNIFTY faced any RESISTANCE at 34000 level we can SHORT BANKNIFTY.
TARGET --- 33300 & 33200
( NOTE : TOMORROW IS WEEKLY EXPIRY SO WE CAN EXPECT MORE VOLATILITY )
Do comment your thoughts ...
Thank you <3
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.