BankNifty View 13 July 2021
BankNifty Showing slow but steady upside movement.
Although Banknifty gapped up today and then saw a sharp correction to fill the gap, it also took support at previous day's consolidation level (35000),
making a hammer candle, then at the end gave a bullish engulf at the same level as the lower level of the channel.
As per this price action, 1st probability is that price will follow the channel and move upside slowly.
2nd probability is that it may break the lower trendline of the channel and move downwards.
Resistance @ 35400
Support @ 35000
Trade cautiously! Plan your trade.
This is for education purpose only.
Happy Trading !!!
Although Banknifty gapped up today and then saw a sharp correction to fill the gap, it also took support at previous day's consolidation level (35000),
making a hammer candle, then at the end gave a bullish engulf at the same level as the lower level of the channel.
As per this price action, 1st probability is that price will follow the channel and move upside slowly.
2nd probability is that it may break the lower trendline of the channel and move downwards.
Resistance @ 35400
Support @ 35000
Trade cautiously! Plan your trade.
This is for education purpose only.
Happy Trading !!!
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