Free Stock market / Nifty intraday tips, FREE Stock, Commodity & Forex tips

NSE BANKNIFTY: Break-out OR Fake-out?

Free nse banknifty chart calls

Free nse banknifty chart calls

Banknifty has been forming a descending channel for more than two months. Price has fallen to 32290 and started creating pullback for sellers.

There are two possible reversal points for Bank nifty:
1) Bank nifty can reverse in the range between 34147 – 34205.
2) Lower-high can complete at 34650, which is 61.8% retracement.

These confluence zones indicate that price has an upside limit of 34650. If the price sustains below 34650, traders can short for the following targets: 33847 – 33100 – 32600 below.

According to the chart, the trend is bearish, but we shouldn’t take any short positions without confirmation. Buyers are limited to 34650.
If the price starts falling in the early stage, the breakdown of the H-line will initiate a short signal immediately.

Premium subscribers can wait for intraday & swing setup in our mobile applications.

Get free important share market ideas on stocks & nifty tips chart setups, analysis for the upcoming session, and more by joining the below link: Stock Tips

Are you looking for NSE paid calls? Want to get premium trading alerts and unlimited access to Moneymunch? Join today and start potentially multiplying your net worth: Premium Stock & Nifty Tips

Premium features: daily updates, full access to the Moneymunch #1 Rank List, Equity Research Reports, Focus List portfolio of 50 longer-term stocks, Premium screens, and much more. You will quickly identify which stocks to buy, which to sell and target today΄s hottest industries.

Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.

Previous ArticleNext Article
Mr.Guru(s) is a team of stock market certified technical and research analysts with over 20 years of experience. They are regular guests on popular online channels and contribute articles to several financial publications. Their insights and advice are respected by investors worldwide. With their collective knowledge and expertise, they have a proven track record of successfully predicting market movements and identifying profitable opportunities.

Visit here: Premium Stock Tips →
Join Today (Free): Stock & Nifty Tips


Write a Comment

Comment Policy: We love comments and appreciate the time that readers spend to share ideas and give feedback. However, all comments are manually moderated and those deemed to be spam or solely promotional will be deleted. Your email address will not be published. Required fields are marked *

Live Chat
< 4 min wait
Get a callback
<10 min wait

Chat with us on WhatsApp

Send this to a friend