Nifty Bank IndexLargo
Banknifty Rannge 43150-43600 Bull/Bear
Banknifty Rannge 43150-43600 Bull/Bear
banknifty expect a bulish start from 43500 phycological level
Key Points of Bulish Sign
1 Rising Wedge Pattern
2 USD-INR in down trend
3 50% FIb Retracement exactly from 43200
4 FII Index Fut sales- (-526.09 ) FII Index Opt Net Purchase - 8,088.83
FIi Activity data looks they like to interest in current situation to not hold the investment so current market definately high
5 Already meet the previous lower level 43100
6 withdrawl from cash market negetive impact on stock and positive impact on index
7 most Oi stand in the Call side at 43500 & 43600 so its provide a sharp Resistance so market will start from here probability to hit thier SL and then down as per rule of Rising Wedge Pattern
Other point to be keep in mind
1 How Global market Opening
2 How SGX NIfty Opening
all points is positive sign but still there is a chance to get down for taking the favorable support.
Hope your Best Trade
Thanking You
Please follow my channel for beautiful analysis in one chart and live chart analys live chart pattern analysis
banknifty expect a bulish start from 43500 phycological level
Key Points of Bulish Sign
1 Rising Wedge Pattern
2 USD-INR in down trend
3 50% FIb Retracement exactly from 43200
4 FII Index Fut sales- (-526.09 ) FII Index Opt Net Purchase - 8,088.83
FIi Activity data looks they like to interest in current situation to not hold the investment so current market definately high
5 Already meet the previous lower level 43100
6 withdrawl from cash market negetive impact on stock and positive impact on index
7 most Oi stand in the Call side at 43500 & 43600 so its provide a sharp Resistance so market will start from here probability to hit thier SL and then down as per rule of Rising Wedge Pattern
Other point to be keep in mind
1 How Global market Opening
2 How SGX NIfty Opening
all points is positive sign but still there is a chance to get down for taking the favorable support.
Hope your Best Trade
Thanking You
Please follow my channel for beautiful analysis in one chart and live chart analys live chart pattern analysis
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