Banknifty prediction for tomorrow 12 July 24
מעודכן
As we discussed, BANKNIFTY gave a good bearish momentum and recovered it from 51800.
If we look at the chart now:
The market was trading in a falling wedge pattern, which indicates the upcoming market is bullish. The market has broken it to the upside. The market has given a very sharp recovery from 51800. I can expect some more bullishness in the upcoming market.
Support levels: 51770, 52032, 200-EMA, VWAP
Resistance levels: 52625, 53100
If we look at the OI data:
PCR = 0.81, which has been increased from 0.60, shows a good streak of bulls. Most of the positions have been rounded off today. There is not much new position addition, only the removal of existing positions.
Reason:
Verdict: Bullish
Plan of action:
Sell 52300 PE (hedge it with 20/- PE option)
If we look at the chart now:
The market was trading in a falling wedge pattern, which indicates the upcoming market is bullish. The market has broken it to the upside. The market has given a very sharp recovery from 51800. I can expect some more bullishness in the upcoming market.
Support levels: 51770, 52032, 200-EMA, VWAP
Resistance levels: 52625, 53100
If we look at the OI data:
PCR = 0.81, which has been increased from 0.60, shows a good streak of bulls. Most of the positions have been rounded off today. There is not much new position addition, only the removal of existing positions.
Reason:
- RSI ~ 60 shows the Bullish structure of the market.
- Price > EMA(13, 50, 200) shows bullisah market structure.
- PCR = 0.81 shows that the market is bullish.
- Price > VWAP shows a bearish market structure.
Verdict: Bullish
Plan of action:
Sell 52300 PE (hedge it with 20/- PE option)
הערה
Banknifty also making formation of Inverted HNS where right shoulder is yet to complete. if breaks neck line it's going to be very bullsh; as formation of the Inverted HNS is at the bottom.הערה
Update View:
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.