Bank Nifty gave a breakdown of a very crucial level, and if it sustains, we can look out for big targets in upcoming weeks. Bank Nifty consolidated at 3600 points, and the possible target of that consolidation is 46,000.
This is how price work with moving average. In uptrend 200MA act as support and buying opportunity for buyers and breakdown it acts as resistance
LEARN TO MARK LEVELS Part-7 Intraday Levels(S-3) Strong momentum.
LEARN TO MARK LEVELS Part-6 Intraday Levels(S-2) Previous day Huge candles with strong closing.
LEARN TO MARK LEVELS Part-5 Intraday Levels(S-1) To mark levels for intraday switch to 15min TF. PDH PDC PDL
Each time the market moves in a single direction for 4-5 weeks continuously without breaking the previous week's low, it will give a strong momentum whenever it breaks the previous week's low.
Banknifty is looking bearish today. Lookout for shorting opportunity below PDL
Nifty is in the the range and this is the best position for option sellers for making straddle.
US market is low right now so most probably nifty will open gapdown so act according if market open around18600 level.
Banknifty closed within a range lookout for breakout or breakdown opportunity.
In Nifty all previous Day low are being protected for last 4 days so we might see some momentum below that. Nifty 15min Tf analysis and trading plan for first half.