BANK NIFTY ANALYSIS - MARKET PROFILE & VOLUME PROFILE

23 de ago. de 2020

BANK NIFTY ANALYSIS -

THE IMPORTANT DEMAND & SUPPLY AREAS HAS BEEN MARKET OF BANK NIFTY AS PER MARKET PROFILE & VOLUME PROFILE. PLEASE GO THROUGH ALL THE IMPORTANT LEVELS MARKED IN THE CHART.

AS PER LAST WEEK BANK NIFTY HAS BEEN MOVING SIDEWAYS BETWEEN A RANGE OF 21900-22500 LEVELS AND NOW IT NEEDS TO BREAK IT DECISIVELY ON EITHER SIDES TO GIVE A GOOD MOMENTUM // DIRECTION IN A PARTICULAR SIDE.
AS PER ORDERFLOW DATA THERE ARE NEUTRAL POSITIONS INDICATING THE FEAR OF CARRYING ANY SIDE POSITIONS IN THE MARKET IN THE WEEKEND.
TWO IMPORTANT THINGS TO WATCH OUT FOR THE COMING DAYS -
1. GDP NUMBERS WILL BE COMING OUT BY MONTH END - AND BIG FUND HOUSES AND INVESTORS WILL BE ADJUSTING THEIR POSTIONS AS PER THE COMFORT.
2. AGR HEARING ON MONDAY

INTRADAY SUPPORT & RESISTANC AREAS
SUPPORT - 22200 // 21950-22120 // 21750-21850
RESISTANCE - 22340 // 22450-22550 // 22700-22800 // 23050-21120

TRADE WITH CAUTIONS

24 de ago. de 2020

Trade fechado: objetivo atingido

AS PER THE MARKET STRENGTH - OPENED GAPUP AND BROKE THE MAJOR RANGE WHICH BANK NIFTY HAS BEEN SWINGING FOR LAST FEW DAYS.
MARKET BROKE THE MAJOR RESISTANCE AREAS OF 22500 LEVELS WITH VERY GOOD VOLUMES AND GAVE A FURTHER CONTINUATION INDICATING BULLISH STRENGTH AFTER RANGE EXTENSION, AND CONVERTED TO A TRENDING DAY MAKING HIGHER HIGH FORMATION.
IT TOOK RESISTANCE AROUND 229500-23000 LEVELS AND CLOSED TAKING SUPPORT AT 21800 LEVELS.