BANKNIFTY View for 3rd November, 2020
Pure index management at play. RIL down 9% and BANKNIFTY up almost 1100 points.
Missed out on today's analysis,for tomorrow -
Global Cues:-
Dow Jones Futures are up and running. Waiting for the election results and the FED Decisions. E100 Has bounced off the lows and also broke the minor trend line. Check out my analysis from previous posts on Twitter and Trading View.
We actually reached the 25100 high on Banknifty which was the final resistance of this cycle. 24800 was the intermediate resistance at play since the past week.
Prime focus for tomorrow -
PA at 24800 will hold key.
Any slippage will lead to 24600, which was the upper band of the range
A bounce from 24800 can lead to 25100 for a clear double top formation.
Won't focus on any opening trades for now as price action will be the key.
LEVELS - 24800 and 24600
Happy Trading!
Missed out on today's analysis,for tomorrow -
Global Cues:-
Dow Jones Futures are up and running. Waiting for the election results and the FED Decisions. E100 Has bounced off the lows and also broke the minor trend line. Check out my analysis from previous posts on Twitter and Trading View.
We actually reached the 25100 high on Banknifty which was the final resistance of this cycle. 24800 was the intermediate resistance at play since the past week.
Prime focus for tomorrow -
PA at 24800 will hold key.
Any slippage will lead to 24600, which was the upper band of the range
A bounce from 24800 can lead to 25100 for a clear double top formation.
Won't focus on any opening trades for now as price action will be the key.
LEVELS - 24800 and 24600
Happy Trading!
Penafian
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