ICICI Bank Future Chart LevelsDear traders, I have identified levels based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT EXCEPT GOD. OVERALL, WE SHOULD BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2.
Is ICICI Bank ready to touch 52 High in coming days?
OR
Profit Booking will bring down ICICI Bank to near major support levels?
Niftybank
Bank Nifty for July 7thMy analysis for tomorrow. This is my analysis only and I am not responsible for the Trades you take based on my idea.
1) Gap Up Opening: Market may come down to test support 34331 and go up
2) Gap down opening: Market may get trapped in between 34331 and 33785
3) Flat opening: It depends on price action, need to check which Direction market will move, Up or Down and accordingly we can plan our trades.
BANKNIFTY Daily Analysis 4th Jul2022 : BNF looks strong!Hi Traders,
BNF is in Bullish momentum from last couple of days 3-4 trading sessions and It might continue.
On UPSIDE it might face resistance at 34150 followed by 34350 levels. Wait for each of these resistances to be broken on good volumes in BNF Futures.
On DOWNSIDE 33500 is a strong Support in BNF which doesn't seem to get broken anytime soon.
#BANKNIFTY - A Clear AspectsSo banknifty has moved 90degree straight which I dont think stays as a ladder is only a ladder when slanted and faced a wall, if you remove the wall, it falls, so here is something similar here, 90 degree momentum doesnt stays well. 33964 to 34140 range if it stays sideways we can expect a more good fall down, but eventually if it opens flat it can race towars 34140 and then retrace and then move, on piror upmove profit booking can arise if opended gapup upto 34505 as well. Eitherways one need to be resilient when trading. May test 33295 if slids below 33736
Observing #Banknifty Charts and Whats next?Banknifty is in Hiragana Phase( where if slight volume slips out it can slip till 33215 but thats what spring is, a spring jumps and is evident in Wyckoffs cycle, As I have mentioned earlier BNF is Strong above 33700 and I think it is powerful but buying at springs and springs itself is best season. Keep for observation. BUYS Only above 33700 only. Though my chart idea shall be neutral but Still I have gave for longs.
BANKNIFTYHello and welcome to this analysis on Bank Nifty
The steep gap down on Monday breached a very crucial support zone of 33800-34000. Post the gap down we saw attempts of recovery which appear more sideways with a very minor higher low higher high bias.
The structure appears to be making a Bearish Flag with the prior decline as the Pole. We can see a squeeze formation so far in it in lower time frame. It is indicating one more attempt for 33800-34000 before it resumes downward move towards 32500 and lower.
PRE-COVID SUPPORT LINE IS APPROACHING START ACCUMULATIONOne big way institutions make money is short options and long futures. These institutions buy futures at pre determined valuations which are evident in key support lines. check our key pre covid support line where @KomputorCapital will start dissolving its cash only position
Nifty view for 10/06/22Nifty was in a good up move in the secomd half of the day ans closed above 16400. It almost touched 16500 levels and closed near by.
It has given a nice bullish daily candle and above its 20 DMA.
On 15 minute analysis, it took a nice support from its 20 ema and closed bear its Resisitance level of 16480.
Support :- 16370, 16320
Resistance :- 16480, 16560
Market has been given a nice movement and can remain in green.
Wait and watch the price action near the levels before trading the market.
BANKNIFTY Trend AnalysisIt is moving inside a descending broadening wedge pattern similar to NIFTY50.
Expecting BANKNIFTY to hit 34900-35000 level before the last dump towards 32000 level if it will form Adam & Eve pattern I have highlighted as V shaped bottom and rounding bottom.
Only if the 5th wave is overextended, it can reach the edge of the pitchfork at 30180 level.
Both the scenarios are possible.
35000 level is at the confluence of 20 MA, trendline resistance and the top of the runaway gap which is going to get filled.
Will update as pattern unfolds in near future.
Do your own due diligence before taking any action.
Peace!!