Nifty and Bank Nifty Weekly and Daily Analysis based on 3 simple

By mdferoz111903

Updated

Nifty and Bank Nifty Weekly and Daily Analysis based on 3 simple indicators
200EMA
Bollinger bands
RSI

Note

This is totally checking the trend in higher time frame
1.We can see index weekly RSI is 58 and Daily is 50,That means RSI is below 60
2.On 06 Oct 2022 Thursday Bank Nifty formed Wick candle stick pattern
3.We can see In daily Time frame near Bollinger bands 20 Moving average resistance

Next support levels are 37400,36750,36150

Note

Whatever i have shared is educational purpose
Just learn and get conviction
Dont trade based on my levels and understanding

mdferoz111903

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