UNITED STATES OF BANKNIFTY

[nil.nik.9777]

Hello,
Updated view on banknifty.

 

[Top_Massage]

Sure .... We just have to keep an eye on two levels in Banknifty .... Staying above 30000 for long enough will give strength to bulls ..... Second crucial number is yesterday's low of approx 29800 ..... Staying below it for long enough can open gates for much lower levels like 29650 or 29500 .... Thanks .... Enjoy trading .....



Disclaimer: This forum is meant for educational purposes only.

 

[Top_Massage]

Alright folks ... after quite a few days .... Banknifty has breached and is staying below 29800 .... Please be cautious ..... Staying above 29800, we go up ...... Breaching and staying below 29700, we go down ...

Confirm the trend before trading .... Good luck ....

Disclaimer: This forum is meant for educational purposes only.

 

[Raj232]

Top_massage ji .. whats your view for this week

 

[Top_Massage]

Top_massage ji .. whats your view for this week

Sure .... as far as I can analyse, Banknifty has something got to do with either 29800 or 30000 ....

Hence, on staying above 30000, we can climb further but if we keep on slipping below 29800 again and again, then big trouble ....

Disclaimer: This forum is meant for educational purposes only.

 

[Top_Massage]

Alright folks ... we need to take cue from nifty for today .... ideally, nifty spot level of 11760 shall now act as support (as it was strong resistance before it got breached today) .... staying above 11760 ... we go up .... breaching 11760 decisively and staying below it, we slip ...

Choose very wisely .... market is tricky these days ... tomorrow is a trading holiday and Friday is an off too .... act wisely ..... good luck ....

Disclaimer: This forum is meant for educational purposes only.

 

[Top_Massage]

OK guys .... same story for today .... 11760 spot level is the key .... staying above it, we go up .... staying below it, we go down .... good luck ....

Disclaimer: This forum is meant for educational purposes only.

 

[Raj232]

OK guys .... same story for today .... 11760 spot level is the key .... staying above it, we go up .... staying below it, we go down .... good luck ....

Disclaimer: This forum is meant for educational purposes only.

We have reached 11,660 now..

 

[Top_Massage]

Alright folks .... let's get back to Banknifty .... Please note that the range of 29900 to 30000 is strictly a NO TRADING ZONE ....

On staying below 29900 for longer, we may see 29800 and 29750 .... On surpassing 30000 and staying above it, we may rise again ....

Good luck ... Markets may try to confuse us till the very end. So be very careful while choosing a trade ... Best wishes .....

Disclaimer: This forum is meant for educational purposes only.

 

[Top_Massage]

Important update ..... Guys, we are standing at a crucial point .... Since, Banknifty is looking more volatile than nifty these days ... Hence, we will have to take cues from nifty one more time in order to get a better idea ...

Let's keep it very very simple ... We need to focus on just one level and that level is 11550 spot nifty. During past few days, 11550 has acted like do or die level for bulls and to be frank, they have been able to protect this level on several occasions and went on to make a new all time high recently.

However, will they be able to protect this level this time?? Staying above 11550 for longer, we go up ... Breaching and staying below 11550 decisively, there may be danger.

Choose wisely traders ... Confirm the trend thoroughly before taking a trade ... Good luck ....

Disclaimer: This forum is meant for educational purposes only.