How Does Banknifty Work Today? | On What Basis Does Banknifty Move?
Today we are discussing About the Banknifty move in 2 days so lets learn carefully. In this article i am telling also past three days behaviour of market and according to this i am predict the bankifty future.
Let's Start,
Banknifty Overview
So guys banknifty last trade on this 43321.30 level so about past three days banknifty behave constantly in some of the range. 43343.75 is strong resistance where sellers are activated and give the position and try to push the market down so there market going down. From 25th november market are going down when he facing this 43321.30 level. 42905.25 it also strong support where market bounce back and sellers cut the position and buyer are enter in market. so your work is mark this level and wait to break the which one of these support and resistance you can enter in market.
- So suppose market cross the 43321.30 this resistance and when you are going to take position of buy according to rules.
- So market break the 42905.25 support then you guys go to the down side entry means sell entry.
- READ ALSO:- BASICS OF SHARE MARKET
- NOTE:- This all Analysis is in 15 min timeframe so mode your chart in this timeframe.
Target Levels Of Banknifty
For Taking Buy Entry
- First target is 43515.00 because the after break this resistance only one target is all time high og the market.
- For target 2 we use the pivots indicator
For Taking Sell Entry
- For down side is our target is first support his usually taking 42905.25 after rejecting the resistance.
- Second target is 42642.20 because the market give the 2 time support before entering in the range.
- Our third Target is 42478.90 it is because market try to fill this gap.
NOTE:- This all Analysis is in 15 min timeframe so mode your chart in this timeframe.
Tips For Taking Entries in Banknifty
- Stay Updated with chart.
- Don't take oversize position.
- Set the Stoploss levels means take stoploss 20 to 30 rupees of entering prize.
- After hit the stoploss do not trade.
- Do not try to trade in both ditrection expect choosing the hedging strategy.
- Trail the stoploss after hitting the Target 1.
- Enjoy your Trade.
MUST READ:-
FAQS
Will Banknifty go up today?
Yes, after he is break the his resistance level 43321.30 he is go to the his all time high.
How do I set up a target in Banknifty?
Past Up to 1 week his performance is understand and the market where goes. You Take your Target level on your entry is 100 points up.
How to learn the Banknifty Analysis?
For learn the analysis you use tradingview.com website this is the best website to learn analysis.
