Hello Friends,
On Friday after 2nd half strong buying seen in overall indices. It looks like bullish trend started as mostly stock seen in green colour.
But i do not think of like that and i'm sure it was not trend change Because if we see all technical data and indicator except Friday buying, There is still trend for bank nifty is Bearish.
Let's see why
1. $ INDEX is trading above 104+ and looks strong
2. Crudeoil is trading above 7000
3. Bank nifty is trading within range lower low and higher low
--- in this range it has just touched trend line and taken resistance and seen seller at particular level which indicates it will continue old trend.
--- some of banks are trading near 200 EMA or below it.
--- Fed rate result will going to release soon.
Following this points, it looks it will be bearish continue. On Monday it may open gap up or near 44500 but it may fall like Wednesday ( history repeats itself ).
Okay friends this was my analysis and point of view for monday bank nifty.
Do your own analysis and trade on your own risk.
Like | Share | Comment.
Thank you.
On Friday after 2nd half strong buying seen in overall indices. It looks like bullish trend started as mostly stock seen in green colour.
But i do not think of like that and i'm sure it was not trend change Because if we see all technical data and indicator except Friday buying, There is still trend for bank nifty is Bearish.
Let's see why
1. $ INDEX is trading above 104+ and looks strong
2. Crudeoil is trading above 7000
3. Bank nifty is trading within range lower low and higher low
--- in this range it has just touched trend line and taken resistance and seen seller at particular level which indicates it will continue old trend.
--- some of banks are trading near 200 EMA or below it.
--- Fed rate result will going to release soon.
Following this points, it looks it will be bearish continue. On Monday it may open gap up or near 44500 but it may fall like Wednesday ( history repeats itself ).
Okay friends this was my analysis and point of view for monday bank nifty.
Do your own analysis and trade on your own risk.
Like | Share | Comment.
Thank you.
