Banknifty for 14 Nov-18 Nov 2022 multi timeframe analysis
Banknifty is trading at all-time highs.
Friday's close was at 42137.
Monthly chart
October Candle: Big Bull Candle, suggesting bulls are in the driving seat.
RSI: Above 60 - Bull Range with high momentum.
November Price Action till now: The month started with a gap up opening at 41552 vs the previous month's close @ 41307( 245 points), right now near month high.
Monthly support @ 39000-39100, above this level, banknifty most probably moves higher, and a dip would be an opportunity to accumulate or create fresh positions.
Monthly Verdict : Positive
Weekly Chart
Candle: Indecisive candle at high, suggesting increased volatility, though the candle is HH HL structure, any dip would be an opportunity to buy.
Weekly Support @ 40320 -40550
RSI 67 - Bull range
Weekly Verdict: Positive
Daily Chart
Price Action: Friday was a gap-up opening at 42137 vs the previous day's close at 41603( approx 534 higher).
Candle: Doji at highs - suggesting high volatility and wild swings moving forward.
Immediare Support : 41380- 41400
Immediate Resistance: 42350 - 42420
RSI : 67 - Bull Range
Verdict: Positive - Buy on dip and trade with Strict SL
Hourly Chart
Immediate Intraday support at 42117 ( May or not get hold)
Further Intraday support @ 41700
CMP: 42137
Wait for a dip or trade with the Monday's first 15 min or hourly candle low's Stop loss.
Friday's close was at 42137.
Monthly chart
October Candle: Big Bull Candle, suggesting bulls are in the driving seat.
RSI: Above 60 - Bull Range with high momentum.
November Price Action till now: The month started with a gap up opening at 41552 vs the previous month's close @ 41307( 245 points), right now near month high.
Monthly support @ 39000-39100, above this level, banknifty most probably moves higher, and a dip would be an opportunity to accumulate or create fresh positions.
Monthly Verdict : Positive
Weekly Chart
Candle: Indecisive candle at high, suggesting increased volatility, though the candle is HH HL structure, any dip would be an opportunity to buy.
Weekly Support @ 40320 -40550
RSI 67 - Bull range
Weekly Verdict: Positive
Daily Chart
Price Action: Friday was a gap-up opening at 42137 vs the previous day's close at 41603( approx 534 higher).
Candle: Doji at highs - suggesting high volatility and wild swings moving forward.
Immediare Support : 41380- 41400
Immediate Resistance: 42350 - 42420
RSI : 67 - Bull Range
Verdict: Positive - Buy on dip and trade with Strict SL
Hourly Chart
Immediate Intraday support at 42117 ( May or not get hold)
Further Intraday support @ 41700
CMP: 42137
Wait for a dip or trade with the Monday's first 15 min or hourly candle low's Stop loss.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.