OI shows Short Build Up on #banknifty and last one hours was long unwinding on the index.
Tough resistance zone:- 22,372 - 22,550.
180 min trend indicator, showing weakness.
Two harmonic patterns are detected:-
1. AB=CD, which gives a target of 22,294:- High was 22,324, DONE
2. CYPHER, which gives a target of 22,589 and Fibonacci target 22,372/22,550.
I keep on repeating, we are in a broad range of 21k to 23k and 22k is the pivotal point, just play the range until we have decisive breakout or breakdown, that's the untold story of the last 2 months.
Decision Zone 22,099- 22,197
Any stong move is only possible above 22,750.
Potential Reversal Zone is 22,372 - 22,550, if we see any reversal signal here, shorts can be initiated with SL of 21,750.
Trade what you see, not what you feel, trading is all about making money & nothing else.
Tough resistance zone:- 22,372 - 22,550.
180 min trend indicator, showing weakness.
Two harmonic patterns are detected:-
1. AB=CD, which gives a target of 22,294:- High was 22,324, DONE
2. CYPHER, which gives a target of 22,589 and Fibonacci target 22,372/22,550.
I keep on repeating, we are in a broad range of 21k to 23k and 22k is the pivotal point, just play the range until we have decisive breakout or breakdown, that's the untold story of the last 2 months.
Decision Zone 22,099- 22,197
Any stong move is only possible above 22,750.
Potential Reversal Zone is 22,372 - 22,550, if we see any reversal signal here, shorts can be initiated with SL of 21,750.
Trade what you see, not what you feel, trading is all about making money & nothing else.
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Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.