Late night BANKIFTY analysis - Both side trades
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👑 My logic :
1) Strong resistance around 35,800 on 1hr time frame and 1D time frame, means it has to get past these levels with power
on 1hr and had to sustain on these zones for the whole day to give breakouts on both timeframes for a sustained bullish rally ahead
2)In this type of ascending triangle pattern, Bank nifty is now making higher lows towards the resistance of 35,800 signalings that it might weaken
this resistance this time and get past it: High probable trade would be a bullish one :) - swing trade with minimal setup
3) Also taking price action into consideration, as there is heavy resistance on this area thus it might again fall to the lower trendline that is supportive in nature
4) What we can do in such a case is keep a bearish mindset, for that purpose, go to a 5min time frame where if you see bank nifty breaking the green trendline + pivot central
and 200dema on 5min chart and closes below it (35550) then you can look for the targets of 34530 and 35336, that is 100 and 200 points for the intraday run
👑 Comment your thoughts and queries regarding anything on this analysis of mine, feel free buddy :)👑
⌛ Motivational and psychological area ⌛
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only.
✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow
✣Don't lose hope and keep grinding
✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily.
✣Focus on the process, you are here to make money not stupid decisions and lose it all
✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market.
✣Believe in yourself :)
🎓🎓 Some info about me :)
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼I don't take all the trades I post
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
👑 My logic :
1) Strong resistance around 35,800 on 1hr time frame and 1D time frame, means it has to get past these levels with power
on 1hr and had to sustain on these zones for the whole day to give breakouts on both timeframes for a sustained bullish rally ahead
2)In this type of ascending triangle pattern, Bank nifty is now making higher lows towards the resistance of 35,800 signalings that it might weaken
this resistance this time and get past it: High probable trade would be a bullish one :) - swing trade with minimal setup
3) Also taking price action into consideration, as there is heavy resistance on this area thus it might again fall to the lower trendline that is supportive in nature
4) What we can do in such a case is keep a bearish mindset, for that purpose, go to a 5min time frame where if you see bank nifty breaking the green trendline + pivot central
and 200dema on 5min chart and closes below it (35550) then you can look for the targets of 34530 and 35336, that is 100 and 200 points for the intraday run
👑 Comment your thoughts and queries regarding anything on this analysis of mine, feel free buddy :)👑
⌛ Motivational and psychological area ⌛
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only.
✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow
✣Don't lose hope and keep grinding
✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily.
✣Focus on the process, you are here to make money not stupid decisions and lose it all
✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market.
✣Believe in yourself :)
🎓🎓 Some info about me :)
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼I don't take all the trades I post
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
JOIN MY FREE TELEGRAM ( More Charts and Discussions ) : t.me/hashtaghammer
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