Nifty, BankNifty & FinNifty Price Action Structure Analysis

22 Ağu 2023

From Our last index analysis market has followed the bearish sentiment and now from the last 6 sessions it's trading in a ranging state.
So here are my analysis of Index for upcoming sessions.

NIFTY
#NIFTY 30 MIN CHART.
Today It has formed a doji bar near the upper resistance line of a falling wedge pattern.
low of the doji bar will trigger selling and on the upside it needs to give a breakout above 19500 then only the market will trend upside.


BANKNIFTY
#BANKNIFTY 30 MIN CHART.
Today it opened above the resistance trendline and fell to a day low but the price is still above that resistance trendline, so it tomorrow opens flat and then needs a breakdown below 44925, or it can simply open the gap down and fall.
ON the upside move 44225 is the zone that should be broken out then only we will see a good trending movement.


CNXFINANCE
#FINNIFTY CHART.

23 Ağu 2023

Not

#BANKNIFTY Finally a trending move above our Yesterdays mentioned level