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

NSE Nifty & Bank Nifty Is Preparing For Pullback

Free nse banknifty chart calls

In the previous article, I have mentioned the weakness or gap down. Yesterday, nifty opened in a gap-down of 219 points.
Click Here: NIFTY OUTLOOK: IS NIFTY PREPARING FOR 16800?

NIFTY
Free nse nifty chart calls

Today, we can expect a pullback to the current move, which will go up to the upper band of the B channel.
Nifty has broken down the lower band of channel B.

If the price beaks face resistance at the lower band, the price may fall for the support level 17000 – 16912 – 16800.

The key level for the up move is 17250. If the price sustains above the 17250, traders can expect resistance levels: 17300 – 17425 – 17466.

Don’t forget trend never moves in a straight line. It creates lows and highs. The bull trend can only be possible during the breakout of 18121.

BANK NIFTY

Free nse banknifty chart calls

Bank Nifty has completed the zigzag pattern at 38759 with 0.786% Fibonacci extension. This down move has also broken down the ABC channel.

The market never stops its cyclical move. Yesterday, Bank nifty touched the lower band of the minor parallel channel. Nifty had made the range between 36965 & 36526
If the price respects the parallel channel, traders can expect a good up move to 37150 – 37251 – 37315

If the price breaks down the parallel channel & sustains below 36500, it will be a bearish signal because 36500 is a pivot level.
However, the assumption of a positive day can be possible as the global market is +ve.

To become a subscriber, subscribe to our free newsletter services. Our service is free for all.

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

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

Disclaimer: The information provided on this website, including but not limited to stock, commodity, and forex trading tips, technical analysis, and research reports, is solely for educational and informational purposes. It should not be considered as financial advice or a recommendation to engage in any trading activity. Trading in stocks, commodities, and forex involves substantial risks, and you should carefully consider your financial situation and consult with a professional advisor before making any trading decisions. Moneymunch.com and its authors do not guarantee the accuracy, completeness, or reliability of the information provided, and shall not be held responsible for any losses or damages incurred as a result of using or relying on such information. Trading in the financial markets is subject to market risks, and past performance is not indicative of future results. By accessing and using this website, you acknowledge and agree to the terms of this disclaimer.

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.

Join Today (Free): Stock & Nifty Tips

5 Comments

  1. Srji reliance ka bhi analysis dijye, usme momentum acchi hoti he and operator bhi bahut kam hote he.

  2. Kya 18121 ke break hone ke bhina uptrend possible nahi he? and entry kahase best rahegi agar ye level ko decline Karta he?

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 *