msonalkar

msonalkar

BN has come down to 42000 from a high of 43600. In the last couple of days, BN failed to break 42300 level with confidence. Today BN is struggling to break 42000 level from the morning. It is lower lows scenarios getting formed on BN. 417000 is a good support and after that it can turn a sharp downfall.

msonalkar

Bank Nifty is looking very weak. Green candles have big wicks at the higher side, showing selling pressure at higher levels. But Red candle has a smooth flow. Expect a sharp movement with big candles on Bank nifty.

msonalkar

BN is nearing weekly demand zone acting as a support for a week. If this is broken then its down fall till 38150

msonalkar

BN today's range is 39730 on the higher side if it breaks, it's a huge short covering. On the lower side lower level maximum expected level is 35517. Expecting Algo candle day for most of the day and at the end of the day around 2 pm onwards final move.

msonalkar

On this weekly expiry session Bank Nifty has clearly demonstrated the breadth of the supply zone at lower levels. This supply zone is protected fiercely on all gap downs. This indicated that the probability of a downward break in this expiry is of very less probability. If any good global news comes in then expect crazy upmove.

msonalkar

Yesterday and today 10 am candle on 15 min chart is created as day low. Starting trade is creating sale on rise bias supported by global market movements and then an upmove is happening.

msonalkar

BN is creating strong base at lower levels from last three days.BN opening gap down creating sell on rise scenario and trapping retail traders and then moving up. Same pattern is repeated which might result in one side move trapping again biased retailers.

msonalkar

Bank nifty is trading on strong support at lower levels. Unless BN breaks today's low with volume, be careful. Today can be a complete sideways day, with algo candles hitting SL on both sides.

msonalkar

Bank Nifty is in consolidation mode for an up move. Most retail investors are negative on BN and may get trapped. Better to be cautious till the energy crisis has clarity. Any news can give a wild swing on either side.

msonalkar

If BN breaks 34590 then first target 34430 & second target 34180. Trade with stop loss as any short covering in apposite direction can be brutal after 4 days continuous selling.

msonalkar

When everyone is expecting rate increase and more market bottoms, there can be a possibility of hitting stop losses of retailers. Bank Nifty Price action shows that it may move up and can cause short unwinding in system. Be careful before building positions in the back to back event days.

msonalkar

Dow Jones is at perfect Bounce back level. Personally, I am positive on market with a high probability of upmove. But it is a game of Probabilities.

msonalkar

Bank nifty is again entering in the long term support channel on weekly charts. Any down movement has multiple supports in this channel, with exception of bad news.

msonalkar

Nifty is red today and it is moving towards long term channel on weekly charts. It has always bounced back sharply from the resistance level of the channel.

msonalkar

Bank Nifty has rallied on volume yesterday and it has accumulation zone from 33950 to 34100. Unless 33950 is broken with volume Bn will remain in range or in up movement.

msonalkar

Bank Nifty in Major support zone and unlikely to breach this zone unless there is market breaking news flows.

msonalkar

See last three candles , which are for today. It shows clearly that after opening range bank nifty is not making any conclusive moves with volume. It is seen in the past when all retailers has strong feeling for direction of BN, apposite thing happens. Will wait for strong VPA confirmation for any position.

msonalkar

Check BN 15 min chart and it is showing that bulls are winning till now. Be careful. What happened in last week in terms of fall is past now. For this week we need fresh triggers. Days low and high has quite wide range and market can trigger stop losses before making decisive moves in the late afternoon.