Bank Nifty Analysis for 26-07-2022 Time Frame 30 Min
Accumulation Phase 1: The accumulation process is displayed in the chart in the form of a price range. In addition, the bulls are gradually expanding, but they can still push up prices.
Advancing Phase 2 : The bulls have enough power to push prices above the high end of the range. This indicates that the price is in the second phase and a bullish price pattern is being created on the chart.
Distribution Phase 3: This is the third level of theory. The bear plan is now to regain control of the market. The price is currently flat on the chart, as in the accumulation process. The formation of higher and lower points in the chart indicates that the market is in the Distribution stage. The lower profit margin is caused by price changes, which indicates that the market is currently in a selloff.However trend may change if bulls are more aggressive.
Declining Phase 4 ( Bearish) : Just a View , After the Distribution phase, a price reduction process begins, just like a downward trend, which means that the bears have enough financial strength to pull the market down. When the price breaks through the lower level of the flat range of the horizontal distribution channel on the chart, a markdown will be confirmed.
More so, Bank Nifty is currently in the distribution phase, which indicates that bearish will control the phase and it may be possible to enter into the markdown phase