Hello All,
I’ve marked the range where banknifty was trading on Friday and Monday. Range is 32490 - 32800.
We’ve seen a beautiful range breakout yesterday which went really well and gained over 800 points but at the end 300~ points fallen and closed market with +500 points.
Today small gap down and continuous bearish momentum for first 15 minutes took the marker back to the range top. We can see clearly that yesterday’s rise has been equalised. Also continuously took support on top of range.
Today whole chart in 15 minutes is kind of formed descending triangle. If this respects we can see range low tomorrow otherwise getting support on top range can go further upside.
Whatever the way please trade with market direction and don’t go against and don’t enter based pattern prediction always wait for breakout. Maintain proper risk reward ratio.
Kindly note this is only my observation and purely for educational purposes only. Please consult with your financial advisor before taking the trade.
I’ve marked the range where banknifty was trading on Friday and Monday. Range is 32490 - 32800.
We’ve seen a beautiful range breakout yesterday which went really well and gained over 800 points but at the end 300~ points fallen and closed market with +500 points.
Today small gap down and continuous bearish momentum for first 15 minutes took the marker back to the range top. We can see clearly that yesterday’s rise has been equalised. Also continuously took support on top of range.
Today whole chart in 15 minutes is kind of formed descending triangle. If this respects we can see range low tomorrow otherwise getting support on top range can go further upside.
Whatever the way please trade with market direction and don’t go against and don’t enter based pattern prediction always wait for breakout. Maintain proper risk reward ratio.
Kindly note this is only my observation and purely for educational purposes only. Please consult with your financial advisor before taking the trade.