Read on Twitter
Bank Nifty Analysis
1. Last 3 major bottoms of June-July-August were at 20926-21027-21031
2. Today index broke those levels intraday but dint close below these lows. Managed to pullback above 21k
3. Worst will be over if Bank Nifty crosses upper Blue trendline.
1. Last 3 major bottoms of June-July-August were at 20926-21027-21031
2. Today index broke those levels intraday but dint close below these lows. Managed to pullback above 21k
3. Worst will be over if Bank Nifty crosses upper Blue trendline.
4. 22,000-22,200 were lows from 9th sep to 15th sep can act as resistance.
5. If Bank Nifty closes below June-July-August lows then its an end of rally from March lows to september high
6. More strength in Bank Nifty can come only above 22,700-800 range on closing basis.
5. If Bank Nifty closes below June-July-August lows then its an end of rally from March lows to september high
6. More strength in Bank Nifty can come only above 22,700-800 range on closing basis.
7. On 240min index made dragon fly doji, follow up buying is needed for better confirmation.
8. 21650-700 can act as resistance for next 1-2 days.
9. Index retraced 50% of rally from 17100-25200 which comes at 21200.
10. Blue Resistance trendline is more steep
8. 21650-700 can act as resistance for next 1-2 days.
9. Index retraced 50% of rally from 17100-25200 which comes at 21200.
10. Blue Resistance trendline is more steep
11. Even if Bank Nifty comes out of steep blue trendline it might spend some time before getting into momentum.
12. Bank Nifty is badly placed than Nifty. Its at most critical level.
13. Lot of pvt banks who have more weightage in Bank nifty made reversal candle stick today.
12. Bank Nifty is badly placed than Nifty. Its at most critical level.
13. Lot of pvt banks who have more weightage in Bank nifty made reversal candle stick today.
14. Pvt Banks giving a very positive signal today.
Follow up buying is the key, hence next 2-3 sessions are very important for this index to get out of the woods.
15. There is no faster retracement of last move from 21k to 25k so Bulls have some chance to comeback
Follow up buying is the key, hence next 2-3 sessions are very important for this index to get out of the woods.
15. There is no faster retracement of last move from 21k to 25k so Bulls have some chance to comeback
16. Last fall from 22757 to 20827 took 8 sessions.
If bulls manage to cross 22757 on closing basis in next 4-6 sessions or even 8 sessions that will give a strong signal of major turn around in Bank Nifty.
Holding 3 months low is very crucial on closing basis.
End of thread
If bulls manage to cross 22757 on closing basis in next 4-6 sessions or even 8 sessions that will give a strong signal of major turn around in Bank Nifty.
Holding 3 months low is very crucial on closing basis.
End of thread
