BANKNIFTY LONG LEG DOJI ON MONTHLY TF
Updated
#BANKNIFTY Strong Reversal candle this week & Long Leg DOJI on Monthly Chart After 3 Consecutive Months Sell-off!!
Only a break below 38600 level would mean a change in trend to downward.
The price perfectly fulfills my last idea and moved towards the upside and also closes above the 39888+ On weekly Chart. From the support zone of 38600 price moved towards the upside till the 40650+ with a bullish candle and price closes on positive note on weekly chart in the Friday session after 3 Consecutive red candle on weekly chart we closes in big green candle in the last week.
Now the price can head towards the 41000-41222 levels to touch the Downward parallel channel and if price go sideways for 1 to 2 days near the upper hand of parallel channel and than breaks the upper parallel channel and level of 41222 and sutain above it than we can see good upside move and targets will be 41800/43000+ In coming trading sessions.
If price unable to breaks the upper parallel channel and again respects it and face Resistance than we can again Move towards the downside till the support level .
Level of 38500 is support for the Banknifty on monthly chart.
Only a break below 38600 level would mean a change in trend to downward.
The price perfectly fulfills my last idea and moved towards the upside and also closes above the 39888+ On weekly Chart. From the support zone of 38600 price moved towards the upside till the 40650+ with a bullish candle and price closes on positive note on weekly chart in the Friday session after 3 Consecutive red candle on weekly chart we closes in big green candle in the last week.
Now the price can head towards the 41000-41222 levels to touch the Downward parallel channel and if price go sideways for 1 to 2 days near the upper hand of parallel channel and than breaks the upper parallel channel and level of 41222 and sutain above it than we can see good upside move and targets will be 41800/43000+ In coming trading sessions.
If price unable to breaks the upper parallel channel and again respects it and face Resistance than we can again Move towards the downside till the support level .
Level of 38500 is support for the Banknifty on monthly chart.
Note
👉As Mentioned Price can head Towards the 41000--41222 Level. And 👉#BANKNIFTY Made High of 41230+
& 1st Target Done @41222✅
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