A nice flag and pole pattern formation in banknifty.
Banknifty has given a nice movement and has crossed the level of 39650 that was a resistance for a long time.
On the hourly time frame, banknifty has formed a flag and pole pattern and there is a possibility of a nice trending market in the coming week.
The box consolidation on the 15 minute time frame is a good indication of a coming trending market.
Market has respected it 20 ema on 15 minute time frame.
Support :- 39700, 39600,
Resistance :- 39850, 40050
Wait for the price action near the levels before trading the markets.
Banknifty has given a nice movement and has crossed the level of 39650 that was a resistance for a long time.
On the hourly time frame, banknifty has formed a flag and pole pattern and there is a possibility of a nice trending market in the coming week.
The box consolidation on the 15 minute time frame is a good indication of a coming trending market.
Market has respected it 20 ema on 15 minute time frame.
Support :- 39700, 39600,
Resistance :- 39850, 40050
Wait for the price action near the levels before trading the markets.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.