Skip to main content

Bank Nifty EOD Update Feb 27

As expected Bank Nifty corrected today(I mentioned about possible correction in yesterday's post) to 20584. Daily/Hourly RSI is reached a level from where it took support 2 times. So possibility of completion of correction at 20584 is there. In case, this RSI level is broken then further downfall to 20480/20400 is on the cards.
 
Bank Nifty 5-min chart shows Index took support at Gann No 20591. 5-min RSI is showing divergence and triangle/ED like pattern is under formation. This suggests possibility of correction completion at 20584 as long as 20591/20584 is hold. If Bank Nifty breaks these levels then support is at 20480/20400 that should be hold for Bank Nifty to remain in ongoing Bullish Trend started from 17600.
For upside move confirmation wait for Bank Nifty to cross 20710/20819.
Labels:

Comments

Post a Comment

Popular posts from this blog

Intraday Index Options Trading by Degree Gann Number System ! E-book available on Amazon - Download FREE!

  For the next 3-days, E-book is available FREE for download! Take advantage of this promotion. Requesting to write a review on amazon. Download link:- https:// amazon.in/dp/B09DHFS5KJ
Post a Comment
Read more

Nifty Time Cycles

The following chart shows various time cycles on Nifty. What Happened? In 2019, Gann 90 year cycle completed. This cycle comes from 1839 depression followed by 1929 depression. In Feb-2020, 20-year cycle completed from Feb 2000 Top In Jan-2020, 144-month cycle completed from Top made in Jan-2008 before the 2008 financial crisis In Dec-2019, 3-year cycle completed from Low made in Dec-2016 post Demonetisation So we saw a big fall as major cycles came together. What next for Nifty? In Oct-2020, 144-month cycle from Low made in Oct-2008 during the 2008 financial crisis, will complete In Nov-2020, 10-year cycle from Top made in Nov-2010 will complete In Dec-2020, 288-month cycle from Low made in Dec-1996 will complete In Feb-2020, 60-month cycle from Low made in Feb-2016 will complete In Feb-2020, 13-month cycle (it is observed Nifty makes Bottom from Top in 11-13 months) from Top made in Jan-2020 will complete In Sep-2021, 20-year cycle from Low made in Sep-200...
Post a Comment
Read more

VIX Analysis

The daily VIX chart shows the formation of Doji candles at the bottom and reversal. The daily RSI crossed the previous resistance level of 40. The MACD signal gave bullish crossover suggesting bullish move in VIX. So the daily chart shows the possibility of VIX moving towards 28 levels in the coming days. The weekly chart shows the formation of wedge and reversal from the bottom. VIX may move towards the upper wedge line @ 29-30. So VIX suggesting the bearish mood of the market and hence the high possibility of fall in Nifty-50 and Banknifty in the coming days/weeks. VIX Gann Box: The daily Gann Box shows a reversal from the mid-zone of time factor points. The next time factor date is Jul-21. So will VIX continue to move high till Jul-21 or it will reverse from angle point? Wait and watch. Using VIX to spot Intraday Reversal on Indices: VIX is a very useful indicator to spot reversal during day trade. If the price of an index moves up and @ resistance zone watch values of VIX. If VIX s...
Post a Comment
Read more