UrbanPro
true

Learn Stock Market Trading from the Best Tutors

  • Affordable fees
  • 1-1 or Group class
  • Flexible Timings
  • Verified Tutors

Search in

BankNifty Weekly Analysis - For Week Starting Jun-29, 2020

N
Ninad Deshmukh
30/06/2020 0 0

Banknifty formed Doji candle on Weekly chart after making a top @ 22479 on Jun-24. Forming Doji candles near resistance creates a possibility of a trend reversal. Resistance is coming from the zone of moving averages (30EMA-21800 and 20-SMA-21126) and upper channel line.

 
Also, 13-weeks completed from the low of Mar, indicating the possibility of a trend change. Or it may consolidate between 21800-21000, before any directional move. We need to watch whether top made on Jun-24 remains protected.

Gann Box:

Weekly Gann Box shows we are near 1/4th time zone (Last week was @ 1/4th point), suggesting the possibility of a trend change. Low of Mar was exactly @ 1/8th point.
 

VIX:

The weekly chart shows RSI@ support. So likely upmove in VIX. In that case, we may see a fall in Banknifty.
 

Trade Plan: Swing Trade

Above 21800 targets are 22500/22800/23300/23700
 
Below 21100 targets are 20400/19700
0 Dislike
Follow 2

Please Enter a comment

Submit

Other Lessons for You

What is the best way to invest money at the age of 23 in India?
Hello, I too am of age 23, so I guess our thinking will match a lot and lets explore the possible ways to invest money. Firstly, We should have a life cover, since you are just 23, cover of 1 crore is...

Mutual Funds
A mutual fund is a kind of investment that uses money from many investors to invest in stocks, bonds or other types of investment. A fund manager (or "portfolio manager") decides how to invest the money,...
S

Trading Tips
Is it Possible to be Completely Objective? Is it possible to be completely objective while trading? Trading forces us to interact with the market, where price is objective – everyone can see the...

What is Technical Analysis and Why a Investor must learn
What is Technical Analysis Technical Analysis is the forecasting of future price movements based on an analysis of past price movements of the various securities. Technical analysis can help investors...

Explain Fundamental analysis and Technical analysis.
Explain Fundamental analysis and Technical analysis. Security analysis includes two types of analysis namely, fundamental analysis and technical analysis.Fundamental analysis takes into account three...
X

Looking for Stock Market Trading Classes?

The best tutors for Stock Market Trading Classes are on UrbanPro

  • Select the best Tutor
  • Book & Attend a Free Demo
  • Pay and start Learning

Learn Stock Market Trading with the Best Tutors

The best Tutors for Stock Market Trading Classes are on UrbanPro

This website uses cookies

We use cookies to improve user experience. Choose what cookies you allow us to use. You can read more about our Cookie Policy in our Privacy Policy

Accept All
Decline All

UrbanPro.com is India's largest network of most trusted tutors and institutes. Over 55 lakh students rely on UrbanPro.com, to fulfill their learning requirements across 1,000+ categories. Using UrbanPro.com, parents, and students can compare multiple Tutors and Institutes and choose the one that best suits their requirements. More than 7.5 lakh verified Tutors and Institutes are helping millions of students every day and growing their tutoring business on UrbanPro.com. Whether you are looking for a tutor to learn mathematics, a German language trainer to brush up your German language skills or an institute to upgrade your IT skills, we have got the best selection of Tutors and Training Institutes for you. Read more