BANKNIFTY FUT SEEMS NEGATIVE
Hello All,
I am Back with one of Important Idea that too just before of Budget.
Idea is on BankNifty Fut.
As past few days market has given some relief and price moved up by approx. 4%.
But........
As per my opinion, BankNifty has not turned Positive yet.
BankNifty Fut: Daily Timeframe
CMP: 49,862.00
Support: 48,600.00 - 48,100.00
Resistance: 49,900.00 - 50,200.00
Important Factor: Bullish Divergence between : 13th to 27th Jan, 2025.
- Because of that Bullish Divergence BankNifty gained almost 1,900.00 points from bottom.
Here is the catch, after gaining 1,900.00 points even RSI is still below 50 Mark line.
Assumption: I feel Price has absorbed effect of Bullish Divergence and ready to free fall.
Target 1: 48,600.00 - 48,100.00 (at 1st support zone)
Target 2: 46,500.00 - 46,200.00 (at 2nd support zone)
Disclaimer: This script is solely my attempt to predict BankNifty based on my analysis. It is not intended as financial advice, and I am not asking anyone to trade based on this information. Trading involves substantial risk and is not suitable for every investor. Always conduct your own research and consult with a financial advisor before making any trading decisions.
I am Back with one of Important Idea that too just before of Budget.
Idea is on BankNifty Fut.
As past few days market has given some relief and price moved up by approx. 4%.
But........
As per my opinion, BankNifty has not turned Positive yet.
BankNifty Fut: Daily Timeframe
CMP: 49,862.00
Support: 48,600.00 - 48,100.00
Resistance: 49,900.00 - 50,200.00
Important Factor: Bullish Divergence between : 13th to 27th Jan, 2025.
- Because of that Bullish Divergence BankNifty gained almost 1,900.00 points from bottom.
Here is the catch, after gaining 1,900.00 points even RSI is still below 50 Mark line.
Assumption: I feel Price has absorbed effect of Bullish Divergence and ready to free fall.
Target 1: 48,600.00 - 48,100.00 (at 1st support zone)
Target 2: 46,500.00 - 46,200.00 (at 2nd support zone)
Disclaimer: This script is solely my attempt to predict BankNifty based on my analysis. It is not intended as financial advice, and I am not asking anyone to trade based on this information. Trading involves substantial risk and is not suitable for every investor. Always conduct your own research and consult with a financial advisor before making any trading decisions.
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