HDFC Bank / BankNifty - The Giant Cracks & Index Melts 4000 +
Disclaimer:
This is for informational purposes only and is not a solicitation or offer to buy or sell any securities or products.
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Recap from 25th Sep 2024
Giant Crack Alert: BankNifty’s drop from 54,467 on 26th Sep 2024 to 50,194 by 7th Oct 2024 got its hint from the HDFC idea published on 25th Sep. When a giant like HDFC cracks, imagine the shockwaves across the entire index!
HDFC - Will it take U-Turn from 1800 — Indeed It was giant crack from 1788
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Short Term
Strong Support Zone
50900-51000 - Avoid taking any buy or long positions below 51000 . Safe Traders to Buy if Index crosses above 51356 & holds above. Risky Traders can look for buying opportunities until Index holds above 51000 or drops close to 51000
Minor Resistance
51925 - 52050 is the minor resistance zone so any bounce upside holding 51000 can halt in this zone & crossing above 52100 - It can push towards strong resistance zone 52900-53100
Strong Resistance
52900-53100
Wishing You A Happy & Prosperous Diwali 2024
From WaveTalks
Abhishek
This is for informational purposes only and is not a solicitation or offer to buy or sell any securities or products.
--------------------------------------------------------------------------------------------
Recap from 25th Sep 2024
Giant Crack Alert: BankNifty’s drop from 54,467 on 26th Sep 2024 to 50,194 by 7th Oct 2024 got its hint from the HDFC idea published on 25th Sep. When a giant like HDFC cracks, imagine the shockwaves across the entire index!
HDFC - Will it take U-Turn from 1800 — Indeed It was giant crack from 1788
---------------------------------------------------------------------------------------------
Short Term
Strong Support Zone
50900-51000 - Avoid taking any buy or long positions below 51000 . Safe Traders to Buy if Index crosses above 51356 & holds above. Risky Traders can look for buying opportunities until Index holds above 51000 or drops close to 51000
Minor Resistance
51925 - 52050 is the minor resistance zone so any bounce upside holding 51000 can halt in this zone & crossing above 52100 - It can push towards strong resistance zone 52900-53100
Strong Resistance
52900-53100
Wishing You A Happy & Prosperous Diwali 2024
From WaveTalks
Abhishek
Best Regards,
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
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Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
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