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Banknifty again becoming stealth bearish

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After the good support in my past 2 predictions. I am again becoming bearish for a quarter time period or so if BN breaks this current rising wedge bearish pattern. It can fall further down to 42150 in a gradual way (could be gapdowns or fall in a day). Before the election it can give good healthy correction thats what i believe in. Please only follow this if you can survive with the bounces. Need to constantly book the targets then sell on rise strategy works. Market may also further continue the wedge pattern too from here then also can fall. But any gapdown from monday 5th feb will be clear sign for the further falls. If bulls has to defend there wont be gapdown. So wise people will understand it. You can also see my past achieved target in the same chart to gain more confidence on the historic analysis. Also please keep an eye on my daily updates below. any instrument falls below 200EMA is always bearish.

But jo log aisa sochte hai or kitna girega or kitna girega woh log sirf dekhte reh jayenge for sure. Will not entertain any nagative comments. Happy to help the positive people. I am also bull trader in long run but if market is not bullish you cant help. Agar market ke sath paltoge naahi to palat diye jaoge!

Target1 45500
Target2 45000
Target3 44400
Target4 43800
Target5 43050
Target6 42150

Keep this in mind. Options is a dangerous instrument to play. Please do not go wild on anything unless you know exactly what you doing. And market can always prove me wrong and i take that rights too.

DISCLAIMER: I AM NOT SEBI REGISTERED ANALYST.ALL POSTS ARE EDUCATIONAL PURPOSES.NON ADVISORY, DISCRETIONAL NO CLAIMS,RIGHTS RESERVED.I AM NOT RESPONSIBLE FOR YOUR PROFIT OR LOSS.

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Sorry to the bulls but if gapdown happens on monday. This will be clear target. Unless anything big magic happens.

Ghi chú

Selling pressure clearly evident.

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Target1 nearly done.

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Target2 coming.

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Target2 also done.

Now it will come fast. may be gapdown tomorrow.

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again target 2 after bounce.

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if it breaks 45000. It will be ready for next down move.

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Market forming the base around 45000. 100-200 points bounce can come.

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Abhi to party suru hui hai……..

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If 45000 broken. target3 koi nahi rok payega.

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May be tomorrow will be the day. just watchout.

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Target will be big ones break 45000 mark.

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market moves so furious & bullish today. BN moved 1000 points higher from the bottom. Proved me wrong today. lets see what happends till this friday. otherwise i have to change my view.

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After recent falls. Market taking support from 50% fibo support. 45760 support shouldn't be broken if bulls has to defend. One can only short the market after 45500 break which will be double confirmation with 30% fibo break. Expecting sideways momentum today. Option buyers should stay away untill this levels. If retesting 45760 then big upside move will come that too of a 500 points.

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Also one more bullish sign is it's trading above 100 200 EMA in 15TF

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Still the view is intact. Can expect good long unwinding from this marked level. 45960 one or two 5 mnts candle close and short trade can be initiated.

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updated chart....

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Updated situation chart. It will be bullish only above 46820 levels.

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in current situation. it will be still bullish as per price action because the closing is still above the 47k mark. Unless something happens in FOMC meeting today. Will update tomorrow what is next price action. Till then, have to pospone the bearish view.

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Further price action. If market not able to sustain at the current level and slide below 46000. My selling levels will be again activated. Not i think the time has come.........

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i think today's gapdown wont be bought. My personal view.

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BN closing considered to be bearish today.

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Gave closing above 46500. Which is bullish sign.

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But if gap down opening more than 150-200 points. Kaal koi naahi bacha payega bears se....

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Updated chart...

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Gave a small warning to the bulls.

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and then the fall

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tomorrow if today's low dont break till 10am. please dont go blind short.

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SL hit. Complete sideways market.

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BN sustaining on higher levels but this is bearish flag.

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Falling wedge rejection.

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Does not look bearish now.

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As per my understanding. BN will be bearish below 48120 and bullish above it.

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47530 make or break level for BN as its channel support. If 48000 broken in BN. Still in the channel.

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I assume. 44500 should come soon. which is only 10% correction from the top.

ashishhc

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