BNF 24 APr UD2.jpg
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The best way to keep a market up is to get the shorts trapped.
They end of buying the moment price comes down, inviting other buyers, and price goes up!
Expecting upward move if price sustains above 48150
They end of buying the moment price comes down, inviting other buyers, and price goes up!
Expecting upward move if price sustains above 48150
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FTU CHART
BNF 25 Apr prognosis.jpg
BNF seemed to take a page out of the playbook from the movie "Chak De India," where the coach urges the players to give their all for the next 70 minutes. In a similar fashion, BNF chose to rotate within a narrow 70-point range for the majority of the session on a monthly expiry! Despite a strong opening, the momentum quickly faded, resulting in a P-shaped profile with a poor high, once again creating a PPOC and a settling just above it at 48190 levels. The migration of the value area, TPOC, and PPOC all indicated an upward shift.
With three consecutive days of back-to-back PPOCs, each day's low remaining above the previous day's PPOCs offers a solid support zone. As we approach the gap zone from April 15th, tomorrow's price action will be closely monitored. An opening and sustaining move above 48200 would be significant, potentially paving the way to close this gap and opening up further targets above 48500.
Conversely, on the downside, an opening and sustaining move below 48180 might lead to rotations between this level and 48000. Breaching this zone could find support at 47800 - 47600 levels.
With bank results unfolding, and Axis bank results due today, Bank Nifty may experience the volatility it's renowned for, adding another layer of intrigue to tomorrow's trading session.
With three consecutive days of back-to-back PPOCs, each day's low remaining above the previous day's PPOCs offers a solid support zone. As we approach the gap zone from April 15th, tomorrow's price action will be closely monitored. An opening and sustaining move above 48200 would be significant, potentially paving the way to close this gap and opening up further targets above 48500.
Conversely, on the downside, an opening and sustaining move below 48180 might lead to rotations between this level and 48000. Breaching this zone could find support at 47800 - 47600 levels.
With bank results unfolding, and Axis bank results due today, Bank Nifty may experience the volatility it's renowned for, adding another layer of intrigue to tomorrow's trading session.
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#Sastasundar
Cmp 317
Buy near 312-315
Target either 345-50 zone and if that becomes support ready for upper circuit
Cmp 317
Buy near 312-315
Target either 345-50 zone and if that becomes support ready for upper circuit
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Both #Banknifty and #Nifty close in an Inside Bar candlestick formation on a Daily TF 😈
Breakdown will Lead to The Pullback🥳
Breakdown will Lead to The Pullback
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