Updated

BANKNIFTY Analysis - Continuous, Just as the Markets !

This is a Thread, so Follow for Technical Analysis performed with TrapZone Pro & Unusual Market Volume Detector (UMVD) Indicators.

* Trend is Based on TrapZone Color
* Bar Colors give us Momentum Green from strong Up Moves. Red Bars point to strong Down Moves.
* Red UMVD = Selling Pressure & Green UMVD = Buying Pressure. Purple is for Divergence = Battle of Supply & Demand

--------------------

1-15-2024
UP trend with Green TrapZone and UMVD. Price has not retraced to TrapZone yet. Strong momentum up.

Note

On an Hourly Candle chart

Note

Intraday i.e 1 second rRenko view. shows buying takes the Price higher

Note

On the Daily

Note

Latest

Note

Strong Down Trend - Intraday Settings. Divergence in place, lets see what shows up after that

Note

Latest - Prices went down with RED UMVD After divergence. Now GREEN UMVD is pushing the prices slightly higher. TrapZone is Still RED

Note

Prices go higher with GREEN UMVD after divergence. Trend is up with GREEN TrapZone.

Note

Latest Intraday - RED UMVD after Divergence gave early signal of selling and the Prices were pulled down.

Note

Prices churning lower with UMVD Pushing the bids around

Note

Hourly Check In - Price bouncing at a KEY Level. RED TrapZone formed and UMVD is RED. KEEP Both EYES open.

Note

Latest Intraday

Note

Side By Side Analysis - Buyers may be trapped in the short term Renko starts trending down again with RED UMVD. some buying has stalled the decline at the moment.

Note

Green is GREEN ! we are going up at the moment

Note

Trend is sideways. So volume may slosh the prices UP and DN/

Note

Bullish Price action is shifting the Trend to UP at the moment

Note

Hourly Technical Analysis Check ins
Probably one of the strongest price action across Major Indexes around the world. It has not gone parabolic YET. Others may have overshot. Angle 3 is good for now. Current retrace is ongoing evident with RED UMVD

SnowflakeTrader

Visit snowflaketrader.com to get access to Free & Premium resources for Traders

Email : support@snowflaketrader.com
WhatsApp (Messages Only) : +1 341 345 8266
Discord : snowflaketrader

Also on:

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.

SnowflakeTrader

Visit snowflaketrader.com to get access to Free & Premium resources for Traders

Email : support@snowflaketrader.com
WhatsApp (Messages Only) : +1 341 345 8266
Discord : snowflaketrader

Also on: