Banknifty: Brace yourself for 43000.
BankNifty is poised to potentially achieve a new high above the 43000 level. Our analysis indicates that it has been consistently making higher highs, while failing to establish a new low, indicating a trending market for the past few days. We have observed heavy put writings on levels below 42900, suggesting that a little bullish momentum could still provide opportunities to enter on retracement around the 42860 to 42920 range.
Currently, I am holding at 42800 and am already in profit. I will be closely monitoring the 42921 to 42938 range, where a double top formation could signal a potential reversal. However, for this scenario to materialize, we will need to break below the 42781 level to confirm a bearish outlook.
closely observing the market to see how it unfolds.
Currently, I am holding at 42800 and am already in profit. I will be closely monitoring the 42921 to 42938 range, where a double top formation could signal a potential reversal. However, for this scenario to materialize, we will need to break below the 42781 level to confirm a bearish outlook.
closely observing the market to see how it unfolds.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.