Niftybank intraday trading levels 28-10-21

Nifty bank 15 minute a candle:

1. Nifty bank will only be bullish above 41350-41400 levels, wait for a 15 minute green candle to close above the mentioned levels, then you can trade for upward fast movement till 41800-42000 levels.

2. Nifty bank wil only be bearish below 40750-40700 levels, wait for a 15 minute red candle to close below the mentioned levels, then you can buy ATM PE for downward fast movement till 40500-40200 levels.

3. Nifty bank has made a bearish structure wedge pattern, it means we can see downfall but cannot say because most of the banks are posting good results. Hope that market will touch all time high before Diwali/Deepawali festival.

Banknifty Weekwise and Monthwise candle analysis

 Bank Nifty a candle a week overview: Creating wedge pattern (Click here to read...). BLUE line is resistance of 37000 levels and RED line is support trend line. 4-5% correction is due in as per Nifty 50 as it has runned too much.

 

 

 Bank Nifty a candle a month overview: Creating wedge pattern (Click here to read...). BLUE line is resistance of 37000 levels and RED line is support trend line.