10 MAY 2020
INSTRUMENT: BANKNIFTY
TIME FRAME: WEEK
OTHER TIME FRAMES FOR CONFIRMATION:
1 HOUR, 2 HOUR, 3 HOUR, 4 HOUR, WEEK & MONTH.
INDICATORS AND THEIR TRENDS:
PSAR: Bearish
STOCHASTICS: Bearish
SUGGESTED TREND: Bearish
Technical levels
CMP: 19284.65
Sell below: 19250
SL: 19407
TARGET 01: 19159
TARGET 02: 19081
My analysis of BANKNIFTY is expected to continue its downtrend for some time now. On week time frame Stochastic & PSAR have confirmed a bearish trend. The Bearish trend is also confirmed in 1 HOUR, 2 HOUR, 3 HOUR, 4 HOUR, WEEK & MONTH time frames as well. If it closes below 19081 on the end of day time frames we may also see 18738 to 18553 levels also.
RISK DISCLOSURE:
Technical analysis of FOREX and INDIAN MARKETS. We are not SEBI REGISTERED ANALYSTS the views expressed here are for our record purposes only. Please consult your personal financial advisor before investing. We are in no way responsible for your profits/losses what so ever.
INSTRUMENT: BANKNIFTY
TIME FRAME: WEEK
OTHER TIME FRAMES FOR CONFIRMATION:
1 HOUR, 2 HOUR, 3 HOUR, 4 HOUR, WEEK & MONTH.
INDICATORS AND THEIR TRENDS:
PSAR: Bearish
STOCHASTICS: Bearish
SUGGESTED TREND: Bearish
Technical levels
CMP: 19284.65
Sell below: 19250
SL: 19407
TARGET 01: 19159
TARGET 02: 19081
My analysis of BANKNIFTY is expected to continue its downtrend for some time now. On week time frame Stochastic & PSAR have confirmed a bearish trend. The Bearish trend is also confirmed in 1 HOUR, 2 HOUR, 3 HOUR, 4 HOUR, WEEK & MONTH time frames as well. If it closes below 19081 on the end of day time frames we may also see 18738 to 18553 levels also.
RISK DISCLOSURE:
Technical analysis of FOREX and INDIAN MARKETS. We are not SEBI REGISTERED ANALYSTS the views expressed here are for our record purposes only. Please consult your personal financial advisor before investing. We are in no way responsible for your profits/losses what so ever.