BANKNIFTY Analysis - Buy on Dip

NSE: BANKNIFTY
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BANKNIFTY Analysis - Buy on Dip
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Looking Bullish & Formed Morning Star Candle Pattern on Daily Chart
if Manages to Hold Today's High [51271.50 ]
Then it Can Trade till 52493.50 Where it will find short-term resistance & 52500 is the PSYCHOLOGICAL Level
Stock Will be Bullish Above 51271.50
Buy on Dip if found near PSYCHOLOGICAL Level 51000 or at T1 - 50983.50
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Resistance above:- 🔴🔴🔴🔴
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T1-50983.50 [ Buy on Dip ]
T2-51353.50 [ Super Bullish ]
T3-51742.70
T4-52169.05
T5-52493.95
T6-52782.75
T7-53357.70
ATH 54467.35
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Support Below:- 🟩🟩🟩🟩
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S1-50508.25
S2-50382.10
S3-49787.10
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Stock is Bullish & Now Any Dip can Be Utilied as Buy [ Buy on Dip]
BANKNIFTY Closed at 51135.40 & Showed some strength as a breakout Given.
Breakout Closing above the PSYCHOLOGICAL Level of 51000 & Sustaining above 50983 shows
Dow Theory is likely to be changed Now On a Daily Chart.
On Monday if Manages to Hold & Trade Above 51271.50 will trade till 52493.95
Possibility is High to hit Targets.
The Assembly Election Results of Maharashtra Will Drive the Market with Positive Sentiment.
India Vix is Cause of Worry 16.09
Buy is Generated & Indicator Given Signal.
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Value of-
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Ema_5 - 50746.61 [ Bullish]Price is Above
Ema_50 - 51440.14 [ Act as Resistance Negative]Price is Below
Ema_200 - 51150.06 [ Act as Resistance Negative]Price is Below
BB_SMA_20 - 51293.70 [ Act as Resistance Negative]Price is Below
RSI - 48.70 [Positive Crossover PCO]
STOCHASTIC - 33.11 [Positive Crossover PCO]
ADX - 23.49 [Positive Bullish]

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