Hello Traders,
BANK NIFTY has formed a Clear Head and Shoulder pattern in 1hr. chart and breakdown the Level of 47200 and now it is consolidating at support level of 46900.
Market is Bearish
Case 1 :If it sustains at same level i.e 46900 we can expect an short upward rally to re-test at 47200-47300 levels and from there onwards we can see a bearish move down to 46300 - 45700 levels.
Case 2 If it does not sustains at 4900 levels we can expect a downfall to 46750 levels which is the 2nd support level after 46900 and then market may go for retest zone and then we can expect a Bearish rally until 46300 - 45700 levels.
*Re-testing will a good confirmation for the bearish market.
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Thanks for your Support
Share your thoughts & opinion in the comments section
**Not Sebi Registered
Do your own Analysis and take the positions
All the Best and Happy Trading.
BANK NIFTY has formed a Clear Head and Shoulder pattern in 1hr. chart and breakdown the Level of 47200 and now it is consolidating at support level of 46900.
Market is Bearish
Case 1 :If it sustains at same level i.e 46900 we can expect an short upward rally to re-test at 47200-47300 levels and from there onwards we can see a bearish move down to 46300 - 45700 levels.
Case 2 If it does not sustains at 4900 levels we can expect a downfall to 46750 levels which is the 2nd support level after 46900 and then market may go for retest zone and then we can expect a Bearish rally until 46300 - 45700 levels.
*Re-testing will a good confirmation for the bearish market.
If you feel this was helpful !! pls Like, Support & Follow
Thanks for your Support
Share your thoughts & opinion in the comments section
**Not Sebi Registered
Do your own Analysis and take the positions
All the Best and Happy Trading.
Nota
Case 2 has just Rocked it till retest zone area ...lets wait for trend reversal..Nota
Perfect trend reversal from retest area & Target 1 is done.Dagangan ditutup: sasaran tercapai
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.