UrbanPro
true
default_background

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 View Comments0

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 Loading Spinner
Default Profile Photo

Please Enter a comment

Submit

Other Lessons for You

Money Saving Ideas for Investors and What to do and Don't in the Market
01. Open your R.D a/c with your bank or post office.02. Never borrow fund to entertainment or luxury items.03. Always take calculated risk for your money.04. Avoid to go for first movie show on first day....
Profile Photo

Brilliant Definition Of A Bank
Brilliant Definition Of A Bank A bank is a broker between the middle class and the rich. The only place where the two meet is in a bank. The middle class brings the money, through saving, and the rich...
Profile Photo

What is hedging and why is hedging important in trading and investment?
The literal meaning of hedge is protective compound wall built around the house/ the property. In trading & investment, Hedging is done to minimize the losses and protect the profit earned from fluctuation...
Profile Photo

Profit with Candlestick Pattern
Title: Understanding Candlestick Patterns: A Comprehensive Guide Introduction: Candlestick patterns are an essential tool in technical analysis for traders and investors in financial markets. Originating...
Profile Photo

To Become a Successful Trader
What you require to be a successful trader? 1) Understanding your psychology- This is the first requirement for a successful trader. Knowing yourself is the most crucial catalyst in the stock market....
Profile Photo

Deleted User

0 0
View Comments0
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