BankNifty Weekly View 9 Dec Expiry Week
Multi=Time Frame Analysis:
Monthly Fake Breakout, as November's candle
closed below the breakout candle of October month
Weekly neutral candle printed
High:36844.00 & Low:35327.90
Daily Good Breakdown candle's high not taken out
& is acting as resistance, also there is a gap.
Hourly - sideways movement of price seen with no strong breakout or breakdown candle...
Although since the trend is downtrend, expecting a flag breakdown, with flag's length as target, which is 1500 points...
Any Strong Hourly candle with good volume breaking out 36844 or breaking down 35327.90 will show us if trend will continue or it will bend.
Monthly Fake Breakout, as November's candle
closed below the breakout candle of October month
Weekly neutral candle printed
High:36844.00 & Low:35327.90
Daily Good Breakdown candle's high not taken out
& is acting as resistance, also there is a gap.
Hourly - sideways movement of price seen with no strong breakout or breakdown candle...
Although since the trend is downtrend, expecting a flag breakdown, with flag's length as target, which is 1500 points...
Any Strong Hourly candle with good volume breaking out 36844 or breaking down 35327.90 will show us if trend will continue or it will bend.
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