Verdict:
Bullish

Plan of action:
Keep holding the previous position. you can add move call buy once bull intraday trend confirms.

as we have already discussed Banknifty has given breakout. and yesterday it retested the 44300 level and again bulls pumped the bulls side. Now I am expecting it to move bullish whole this week. Target 1 will be 45561, then some consolidation and it will move to all time high 46250.
Reasons:

  • Price has already broken out 2 month breakout with Inverted HNS. (Bullish)
  • RSI showing bullish diversion. (Bullish)
  • Bullish Golden crossover successful. (Bullish)
  • Inverted HNS breakout and successful retesting of neck-line. (Bullish)
  • According to OI, PCR: 0.97 (Bullish) with max pain = 44800 or 45000.
  • above side only 45000 is having significiant resistance, if it’s taken out bulls path will be clear for target 1 (45561)

 

Verdict:
Bullish

Plan of action:
Keep holding the previous position. you can add move call buy once bull intraday trend confirms.

Disclaimer:

The information provided in this blog post is for informational purposes only. It is not intended as financial, investment, or trading advice. The author is not a licensed financial advisor or professional.

Trading and investing in financial markets carry inherent risks, and past performance is not indicative of future results. Readers should conduct their research, consider their risk tolerance, and consult with a qualified financial advisor before making any trading or investment decisions.

The author is not responsible for any financial losses or gains that may result from actions taken based on the information presented in this blog post. All trading and investment decisions are made at the reader’s own discretion and risk.

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