UnknownUnicorn25153477

UnknownUnicorn25153477

This is the BankNifty analysis for the monthly time frame. We can see that the market has crashed recently due to the Covid19 and has recovered too from it. Now currently is going on a correction for it. It seems that BankNifty might not make new all time high in the current year.

UnknownUnicorn25153477

BankNIfty Analysis for the short term. We can see that the market is consolidating now, after this it can make a good in the direction of the breakout. Mean while, we can take trades in the intraday, based on the market movement.

UnknownUnicorn25153477

In the long timeframe such as daily, it is visible that BankNIfty has made a new downside swing and now has take a pause near the support levels. So now there are high chances that it will still consolidate tomorrow. We can still make small intraday trade based on the price action.

UnknownUnicorn25153477

As we see in the 1hour timeframe chart of the BankNifty, it is clear that currently there is a consolidation/ correction going for the impulsive move it had made. And in the 15minute time frame, it is visible that on the previous trading session, the BankNifty and felled for the entire day. So now there are good chance that on Monday, it can be a range bound...

UnknownUnicorn25153477

So as we have discussed in the previous day analysis that upon giving the breakout of this channel, it can a give a good momentum in the respective direction. But the BankNifty has not give the breakout today, and kept on consolidating in the range. So now if tomorrow BankNifty opens between the triangle shaped range and gives breakout in any direction, there...

UnknownUnicorn25153477

So as we see the 15min timeframe chart of the Banknifty, we can see that there are an important support and resistance levels. If the banknifty tomorrow opens btween this support and resistance and breaks this levels, it can give a good momentum in the respective direction. However, considering the trend of the market, there is a high chance of success, if the...

UnknownUnicorn25153477

As we can see in the chart that after the recovery from the covid 19 crash, the banknifty is forming a falling wedge type of pattern. On the breakout of this channel, it can give a good move upto 42000. The current important support and resistance level are also marked. The current important support level is around 30500. Hope that you liked this analysis and...

UnknownUnicorn25153477

So as we can see the 15min timeframe of the Banknifty inedx, we can see that there is currently going on a consolidation for the previous impulsive move. After the correction of the move the banknifty can give a upside breakout and continue the upside move. And for the possible trade setup, we can see that after opening flat today, the bankinifty came up and...