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Banknifty is to Obey the Bulls !Banknifty has tested for a long time in the historical trading range as marked in the graph and exiting that is itself an achievement for the bulls. It is much promising for this zone's upper bound to be tested no matter how strongly it comes to test it. IT IS and IT IS BULLISH ! This fact is difficult to digest considering the blood bath on Last Expiry Day, but hey ! We are not to base everything on one day's move the overall trend is to be identified and accredited.
NSE:BANKNIFTYLong
by Pivotal_Traders
Bajaj Finance - Complete Breakdown Of ChartHi Traders, As we analyse the daily chart, price is in an uptrend because it is trading above the 50SMA. The key levels are at 3518 (Green) , 3606.60 (Yellow) and the golden zone between 3446.35 - 3374.70 respectively. We can see that price has found support at the golden zone and has tested our resistance level at 3518. Since price found support at the golden zone, breaking of the recent high(3749.85) is unlikely. So we can conclude that this stock is in its exhaustion stage and the present uptrend will end soon. If the price close below 3272.75 (Red), this marks the end of current uptrend. Now we will look into the hourly chart for short term opportunities. The hourly chart is below the 50 SMA indicating a downtrend but since the higher timeframe is showing uptrend, it is advisable to take buy positions. Short term buys can be done if it breaks the hourly trendline and must be cautious when price tests the above mentioned key levels. Intraday trades can be planned based on price action at the above mentioned levels. Note:- This analysis can be used for short term and medium term analysis. We need to breakdown the weekly chart for long term investments. If u have any suggestion on which counter u need an analysis, please comment below. Pls like and follow for more. Happy Trading............
NSE:BAJFINANCE
by Hari_krishnan_S_Kumar
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