BNF 23 May prognosis

In line with our analysis, the 48100 - 150 zone of back-to-back PPOCs proved too strong for the bulls. Despite opening above the previous day's close, BNF could not capitalize and succumbed to relentless selling pressure. The price moved down until the end of the C period, after which it rotated within a narrow 150-point range between 47620 - 47770. This rotation left a super poor low, with the D, E, and H period lows matching. Such strong visual references are often cleared with a sharp spike—and what a spike it was: a 400-point drop followed by a nonstop 550-point rally from the day's low until almost the end of the day.

This rotational day also saw the development of a PPOC at 47705 levels, likely acting as a key level for tomorrow. Throughout the day, the value developed lower than the previous day, with both VPOC and TPOC migrating down. Given the spike late towards the end of the day and the price closing at 47900, above the value area high, it will be crucial to see if the price is accepted here.

For tomorrow:

Any open above 47700 and a move clearing 47900 will encounter strong resistance at the 48100-150 zone. Clearing this opens the way for 48250, 48350, and 48500 levels.
Conversely, opening below 47700 could trigger a downward slide towards 47300 levels.

While having a bias in markets is not advisable, the strong responsive buying from the 47400 level, leaving a good excess, suggests a lower likelihood of a significant downward move. However, due to potential uncertainty from various quarters (e.g., the FOMC minutes in the US), it is best to observe the markets and then take cues.

AsianPaints Strong Above 2895

Dmart Strong Above 4924.20

IOB Strong Above 68.75

LUPIN Strong Above 1728

Tata Consumers Strong above 1122

ZEEL Strong Above 151.25

Singles on top at 22620 - 670 is liquidity zone. Sustaining above this leads to 22700 - 750.
But a reversal from here can see 22550 - 22480.

If selling then sustains 22350 is the next support (AB Poor low and Singles zone)

#Banknifty

Upcoming days my View for Bnf

#Nifty is also Bullish

May Touch ATH SZ

Lo ho gaya khel

Ab bolo ❤️😂

Just came to know he lost 9 lakh ..
I warned him lastly when he was at net loss of 14k..
Then probably we did not talk..
I think he lost mostly in last 15 days or so..
Feeling so sorry for him..

He said some days I have earned like 2 lakhs , without even knowing anything..

Sheer co incidence of getting profit guarantees you to big loss..

This has happened to me , to all..

I am so experienced still can not handle big naked quantities..

Feeling so bad for him..

Active Trades , for today ,