Get started

Indianmarket

BankNifty Breaks Channel Pattern and Forms Reversal CandleBankNifty Breaks Channel Pattern and Forms Reversal Candle at Resistance, Indicating Potential Bearish Momentum Date: June 14, 2023 In a significant development for the financial markets, BankNifty, a prominent index tracking the performance of banking stocks in India, has broken a long-standing channel pattern and recently exhibited a notable reversal candle at a key resistance level of 44,202. This event has garnered attention among traders and analysts alike, signaling a potential shift towards bearish momentum. The channel pattern, which had been guiding the movement of BankNifty over the past several months, was breached as the index surpassed its upper boundary. This breach denotes a departure from the established trend and has sparked anticipation of a new market direction. Adding to the bearish sentiment, a reversal candle has formed at the critical resistance level of 44,202. Reversal candles are chart patterns that suggest a possible shift in sentiment, often heralding a reversal in the ongoing trend. This occurrence at a significant resistance level intensifies the likelihood of a bearish momentum taking hold in the BankNifty. Market analysts and traders are keenly observing the current situation, considering the implications of this break and reversal. A sustained move below the channel pattern and the resistance level could further reinforce the bearish outlook for BankNifty, potentially leading to extended downward movement in the near term. If this anticipated bearish momentum continues to materialize, it could impact various sectors within the banking industry and potentially influence investment strategies. Traders and investors are advised to closely monitor the evolving situation, taking into account technical indicators and fundamental factors to make informed decisions. As with any financial market prediction, it is essential to exercise caution and consider multiple perspectives before drawing conclusions. The outcome of this potential bearish momentum remains uncertain, and market participants should be prepared for various scenarios. Disclaimer: The information provided in this news article is for informational purposes only and should not be considered as financial advice. Trading and investing in the financial markets carry risks, and individuals should conduct thorough research and seek professional guidance before making any investment decisions.
NSE:BANKNIFTY1!Short
by mrparastiwari
Exclusive webinar in collaboration with Tradingview 🚀Hi there 👋 ​We bring to you an exclusive webinar in collaboration with Tradingview. ​Find out how to unlock the true potential of TradingView with Naman Sharma (Product Manager, Dhan) and Abhishek Singh & Pradnil Joshi (TradingView India). Key takeaways of this exclusive webinar: - Learn How to Setup charts TradingView - Research on Fundamental Analysis - How to add several indicators on charts - Get you doubts resolved with the experts This webinar will be streaming live on Tradingview.com for the first time & on Dhan Youtube channel as well. Get ready for an insightful conversation this weekend! 📅: 18th March, Saturday ⏰: 10 AM ​What are you waiting for? Register Now : lu.ma ​For a seamless streaming experience, we recommend you to follow Dhan on Tradingview.com. We will soon share the stream link here. Watch out for posts on the Tradingview community. As always the webinar is free for everyone.😀
NSE:NIFTY
by Dhan
2
#Nifty 17th March 2023 | Falcon Trader AnalysisTime waits for none, how much time do you need to learn? Check out Falcon Trader Analysis for Nifty 50 Index for 17th March 2023 Nifty has not completed this 3rd wave down, and this will end around 16848 followed by up move to complete wave 4 in ABC format, therefore next week Monday should go in that, - more on this soon. Overall trend is down, but a good 200 point opportunity up move for completion of wave 4 is pending, and then wave 5 - all this of internal 3rd wave, then we will have wave 4 and wave 5 pending for major down moves to complete this massive 5th wave of daily chart. Follow for more updates
NSE:NIFTYLong
by Falcon_Trader_1