Bank Nifty has broken support line, Bank nifty Weekly analysis.

As discussed, bank nifty narrow range between support bank nifty range bound between support and resistance line of Home no 1. 
It seems bank nifty is moving towards a narrow range of triangle tip of home 1. As per Vedic analysis till, 19 Feb 2019, 13:15 movement is small and range bound. It is profitable to sell option instead of buying. Most of professionals and institutions are taking advantage of this type of narrow movement to selling options.
Important date for next week is 19 to 21 Feb. A big move may come between these dates. Wait for new trade till breakout of support (Yellow Line) & resistance (Red line ) of Home 1. The market always gives a chance. Be patience.

Bank Nifty One hour Vedic chart

Now Banknifty has broken support line on 15 Feb 2019, 12:28 as seen on one hour chart. Bank nifty entered in Home no 4 . 

Support of Home 4 is 26450 horizontal line and resistance become yellow inclined line which was previously home no 1' s support line.

Bank nifty will go upside till resistance line and if resistance will not break then going towards 26450 as earlier we discussed.

Home 4 having two resistance line one is yellow and another is red. It seems to move in the triangle of home 4 till the break of any line of Home no 4.

Do not short near support 26450 and do not long near 26800 - 27000

Retailers always trap near greed and fear zone. 

Strategy : 

Sell Banknifty 21 Feb 27000 CE @ 150-170 ( CMP 112 ) 

Contact for Join VIP Telegram Channel:

Post a comment