Daily chart of Bank Nifty Futures
The Manual trend is bullish, and the candles are trading above 200 EMA which is bullish as well, but the resistance has been respected twice which makes the resistance strong one.
The pattern somewhat looks like a bearish double top as of now, but nothing is confirmed yet.
I cannot find any proper support above 37800 which means that the gap opens for almost 4000 points. Sounds huge but nothing that we haven't seen before.
Also, there is a slight bearish divergence which is a cherry on the top.
Bank Nifty has been in focus in the last week, and it wouldn't surprise me if the bulls are trapped soon.
*Disclaimer: I am not taking any trades as of now. My principle is to be with the trend. I will buy when the time is right, but I will not sell against the trend.
The Manual trend is bullish, and the candles are trading above 200 EMA which is bullish as well, but the resistance has been respected twice which makes the resistance strong one.
The pattern somewhat looks like a bearish double top as of now, but nothing is confirmed yet.
I cannot find any proper support above 37800 which means that the gap opens for almost 4000 points. Sounds huge but nothing that we haven't seen before.
Also, there is a slight bearish divergence which is a cherry on the top.
Bank Nifty has been in focus in the last week, and it wouldn't surprise me if the bulls are trapped soon.
*Disclaimer: I am not taking any trades as of now. My principle is to be with the trend. I will buy when the time is right, but I will not sell against the trend.
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.