BANKNIFTY...Getting Ready for the Dive....Take a Guess
Updated
The BANKNIFTY respected the levels provided yesterday hugely. But looks like it has made a channel for its movement before it takes the final plunge, just in case we have some very positive cues. The only scare is with Corona pulling its head again in several countries because of which the market is still jittery. It has closed at the edge of the Flag's lower trend line and keeps us guessing what would happen tomorrow.
If the market opens flat it might make a parallel sideways channel and then decide on its movement so don't jump on a trade. Keep the levels in mind and let it give you the correct opportunity.
** Please be mindful that this analysis is only for educational purposes. I am not a SEBI registered Financial advisor and do not base your decisions on this analysis. Contact your financial advisor before investing in any trading idea.
If the market opens flat it might make a parallel sideways channel and then decide on its movement so don't jump on a trade. Keep the levels in mind and let it give you the correct opportunity.
** Please be mindful that this analysis is only for educational purposes. I am not a SEBI registered Financial advisor and do not base your decisions on this analysis. Contact your financial advisor before investing in any trading idea.
Note
Zone of support has reached...It might bounce from here. RSI is also at 17 levels in 5 min chart. Plan accordinglyNote
34293 achievable today
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