BankNifty

What I see on #banknifty today? On daily time frame:- My positional algo is already short in the market, which did capture 10K point in bank nifty  Moving averages on daily TF:- 33,300 is the Laxman Rekha, below that 30,600 if falls come further we might retrace back the whole 6 month s rise to 25K levels. On 1 hour analysis:- Use supply & demand zone to trade and if the 33,305 breaks go for sell, big sell-off on cards. Decision Zone:- 33,652 -33,770 Resistance:- 34,110 / 34,430 / 34,645 / 35,100 Support:- 33,305 / 32,751 / 32,137 The move from 29,687.8 to 37,708.75 is 8021 point rally,we have retraced 50% (33,698), current low is 33,361. 38.2% retracement was 34,645 which was breached and we touched 50% retracement, now if today's low is broken, we move toward 61.8% retracement which is placed at 32,751 (last hope for bulls), if this support is breached we head towards 100% retracement towards 29,687.  Important pivot level is 33,960 & 38.2% fall is 34,645:- Ideally n...

#BankNifty analysis on 19th Mar'2020:- Short Term View On weekly time frame analysis:- The move from 29,687.8 to 37,708.75 is 8021 point rally,we have retraced 50% (33,698), current low is 33,597. 38.2% retracement was 34,645 which was breached and we touched 50% retracement, now if today's low is broken, we move toward 61.8% retracement which is placed at 32,751 (last hope for bulls), if this support is breached we head towards 100% retracement towards 29,687.  Important pivot level is 34,485 & 38.2% fall is 34,645:- Ideally no longer till we cross 34,650 levels and we get a daily closing above this level. Three Black Crow ( Bearish Reversal with high reliability, detected on 16th Mar'2021) was detected on the daily chart. GAP on the daily chart:- 33,305 - 33,583, ideally should work as support, if this gap is broken we head towards lower level. On an hourly time frame, 34,430 - 34,645 is a tough resistance area, until it's crossed, we will continue to remain under...