msk_analysis

BankNifty Beast mode on

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msk_analysis تم تحديثه   
NSE:BANKNIFTY   Nifty Bank Index
BNF made a day move of more than 1200 pts yesterday and closed above the high of the last 9-10 days

It is now at major resistance, the upper side of a downward channel

it got rejected 4 times from that channel and now it's the fifth time - so why do I feel it's gonna break it this time?

- The candle size tells how strong the move would be - in all failed cases the GAP UP couldn't cross the channel top. This time the candle is so near the channel top that its a high probability that it gonna break it with GAP UP
- rsi is also at resistance - GAP UP will change the texture of this present move from earlier failed moves

the immediate resistance zone that is visible is 34000 to 34300

Once it goes past that zone its gonna end touching 35500 and 37200 very soon

Its a positional trade, so for overnight positions do hedge

SL, in this case, could be the green support zone marked on charts

Safe Trading
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تم فتح الصفقة:
what a move - 1200 pts

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