BankNifty
This coming week in Bankifty Spot Time & Price are going to get squared on weekly as well as daily timeframe.
Keep an eye on bank nifty in the zone of 38021 to 38187. Mark these 2 lvls on the charts because these 2 levels are going to play a vital role in the coming days.
A close above 38200 will open the doors for 38616.25 where 1x3 Gannangle is placed.
Targets for the downside are 37715, 37331.25, 36865
Wrap up of last 3 calls
Icici bank
Faces resistance exactly at 735 and from there met our 2nd target on the downwards.
SBIN
In this counter our stoploss got triggered.
HDFC Bank
This coure fell from 1590 to 1530 and gave us the return of almost 3.5%
Banknifty
Banknifty gave us the handsome returns of more than 1000 points after it gave the breakout on the upper side.
LTTS
By looking at this counter it seems that it will never stop. What a rally from 995 lvl.
Let's see what the chart of this counter is saying ??
Time & Price are going to get squared at 4543
From another point, the price range is completing at 4552
17th Sep, 29th Sep, 05Oct in this time window, time is going to get squared from the 3 past points. Along with this 2 smaller time cycles are also completing in this time window from the monthly time frame as well as from weekly time frame.
So, in the coming days, the 4532- 4543-4552 zone is going to play an important role. A close above this level will open the gates for 4675 - 4761 - 4876 - 4901 - 4975
And,
A close below this zone can take counter towards 4489 - 4437 - 4357 - 4225 - 4097 - 3980.
From Gann angles point of view, 1 x 1 Gannagle stands at 4675. We will be looking at this level with extra caution. It is mostly seen that at 1 x 1 angle stocks or indices take a pause and take a rest there for some time and then they start their journey again.
* .* Don't go short or long blindly at the mentioned lvls. Always look for price action near these lvls and then take the action accordingly with small & logical SL.
Hello readers,
I don't know why I am feeling scared this week by seeing the charts of banks. Either side breakout would be lethal.
Last week I shared the analysis on ICICI BANK. This week 2 more counters are coming to the list.
In HDFC Bank price range is squaring at 1596. I will be looking for shorting opportunities in this counter in the range of 1590-1600, with a small & logical stoploss.
In SBIN the price range is squaring at 433, along with this the 50% of last month's candle is coming at 434 + on weekly charts it's Bearish C2. Same in this counter I will be looking for shorting opportunities in this counter.
In Banknity price range is squaring at 37018. From one more point from the past price range is squaring at 36940. Although in Banknifty we are long from 36105, and on my, Twitter handle I shared that a significant close above 36105 would open the gates for a new lifetime high. But one needs to be cautious by looking at the current charts of Banknifty.
Now if you look at the chart of Banknifty (shared below), you will see that either side breakout or breakdown will give good enough points this week.
On the upper side, the resistance is standing at 36857,36940, 37018
&
on the downside, support stands at 36645 & 36566.
If Banknifty remains in the marked zone then one can look for short at the upper side & can go long at the support level with small & logical stop-loss.
One needs to stay at caution at these levels.
Hello firends,
After a long time, i am again active on my blog. From the last few months, I was more active on my Twiter handle. So, from this week I will try my lvl best to remain active here also. So, let's start...
This week keep an eye on ICICI BANK.
