BANK NIFTY ANALYSIS - TRENDLINE RESISTANCE - for 7th oct.
Bank Nifty is making Trendline Resistance pattern at 30min chart.
It made a Hammer candle at 30min chart and after that a green candle gave closing above the Hammer. There is probability of BN going towards 52000, it is a Resistance as well.
On 4oct market went up to 52358 and came down about 1000points, touched 51350 and made Hammer candle at at old support. 51350 is a Trendline support too, you may check that at 4hr or Daily chart, let me know if you want me to post 4hr or daily chart too.
First 15min candle on Monday will decide the move, we need to be cautious as market can trap due to war, if any positive news comes about the war on Sunday then there is strong probability of market going up.
Resistance: 52000, 52500
Support: 51000, 50500.
For learning and educational purposes only, not a trading advice.
It made a Hammer candle at 30min chart and after that a green candle gave closing above the Hammer. There is probability of BN going towards 52000, it is a Resistance as well.
On 4oct market went up to 52358 and came down about 1000points, touched 51350 and made Hammer candle at at old support. 51350 is a Trendline support too, you may check that at 4hr or Daily chart, let me know if you want me to post 4hr or daily chart too.
First 15min candle on Monday will decide the move, we need to be cautious as market can trap due to war, if any positive news comes about the war on Sunday then there is strong probability of market going up.
Resistance: 52000, 52500
Support: 51000, 50500.
For learning and educational purposes only, not a trading advice.
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