Bank Nifty Chart Analysis

If bank nifty breaks this level it can run upto 30200 level.

Bank nifty chart analysis.

As you can seen in 1h time frame bank nifty is forming a parallel channel pattern. If bank nifty breaks this level it can run upto 30200 level. Apart from this the chart shows two intermediate two minor correction cycle completed wave 1 is from 20404 9 to 24 823 6 i e 4418 7 point rally wave 5 probability. Hello friends today i have the technical chart of bank nifty.

Moneycontrol technical chart analysis of bank nifty bse nse market chart analysis live market index techical information with graph in advance features. There are various other theories to back this move but this move on current level is not feasible to sustain. And if we find levels 29800 level is appearing as a resistance. Access our detailed technical analysis through moving averages buy sell signals simple and.

As you can seen in 1h time frame bank nifty is forming a parallel channel pattern. More chart patterns bank nifty. Friends as you can see here that it is in a down trend which means its sentiment is down but if you see closely that it can also go up because it is on its support its support price you can take is at rs 20973 and its target you can take is at rs 21174. Validity of this pattern is atleast for duration.

15 04 2020 to 08 12 2020 this formation is first found by our screener on 08 12 2020. And if we find levels 29800 level is appearing as a resistance. Option sellers made easy money option buyers are finding it hard to strike big due to low liquidity on buy side and locals selling options one way. If you like this idea and this analysis just please like this.

As discussed before open nifty hit morning high at 13501 against our level of 13513 bank nifty hit mid day resistance of 30652 session remained range bound for most part of the day. Chart of bank nifty has formed pattern higher highs and higher low. As per relative strength index smooth bank nifty is in over bought range with a value of 70 27. This move in bank nifty is.

Banknifty short term positional view view for banknnftyfor next week and till dec 2020 the analysis shows one primary trend wave 4 is complete and wave 5 is in progress. A brief summary strong buy buy strong sell sell or neutral signals for the bank nifty index.