Banknifty prediction for today 9 July
Cập nhật
As we discussed, BANKNIFTY opened sideways and ended sideways with volatility.
If we look at the chart now:
The market is trading in the range of 52276-52676.
Support levels: 52276, 52000, and 51610
Resistance levels: 52676, 52816, and 53197
200 EMA and 50 EMA is going to provide good suport and resistance.
If we look at the OI data:
PCR = 0.63, which shows a bearish behavior in the market. The market can be seen as very volatile between 52276 and 52676. There has been good CE writing on higher levels, which indicates that bears are powerful.
I expect the market to be sideways in the range, and if it breaks the range, it is going to give good momentum.
Reason:
Verdict: Neutral
Plan of action:
The morning 15-minute direction will determine the market direction.
Once the direction is confirmed, make the position according to case 1 or case 2 as provided.
If we look at the chart now:
The market is trading in the range of 52276-52676.
Support levels: 52276, 52000, and 51610
Resistance levels: 52676, 52816, and 53197
200 EMA and 50 EMA is going to provide good suport and resistance.
If we look at the OI data:
PCR = 0.63, which shows a bearish behavior in the market. The market can be seen as very volatile between 52276 and 52676. There has been good CE writing on higher levels, which indicates that bears are powerful.
I expect the market to be sideways in the range, and if it breaks the range, it is going to give good momentum.
Reason:
- RSI < 40-60; shows market sideways structure.
- EMA(200) < Price < EMA(13,50) shows bearishness. If it breaks, the support trendline can give targets till 200-EMA.
- PCR = 0.63 shows that the market is bearish.
- Price < VWAP shows a bearish market structure.
Verdict: Neutral
Plan of action:
The morning 15-minute direction will determine the market direction.
Once the direction is confirmed, make the position according to case 1 or case 2 as provided.
Bình luận
Bình luận
follow the channel
Bình luận
Trend might be inside channel Or if breaks to downside a good bearish momentum can be seen...
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.