Thread by @niki_poojary

#BANKNIFTY

𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐰𝐞𝐞𝐤 𝐉𝐚𝐧 𝟐𝟒, 𝟐𝟎𝟐𝟐 🧵

Will be covering multi-time frame analysis:

1. Monthly TF
2. Weekly TF
3. Daily TF
4. Hourly TF
5. 15min TF

#BANKNIFTY

𝐌𝐨𝐧𝐭𝐡𝐥𝐲 𝐓𝐅: Though 5 more trading sessions to go, looks bullish, infact in this leg, BNF is more stronger than NF

#BANKNIFTY

𝐖𝐞𝐞𝐤𝐥𝐲 𝐓𝐅: After a strong upmove from 34k to 38850 levels BNF is resting at higher levels

Still moving within the bullish channel

#BANKNIFTY

𝐃𝐚𝐢𝐥𝐲 𝐓𝐅: 36950-37300 is a support zone

The sharp recovery post 3pm on Friday is not a surprise now that ICICI bank's fantabulous results are out

ICICIBANK clearly has outperformed not just on all parameters but also outshined the big banking daddy HDFCBANK

#BANKNIFTY

𝐇𝐨𝐮𝐫𝐥𝐲 𝐓𝐅: BNF took support from 37250 zones three times on friday and closed at day high. 37250 levels will act as a strong support for now

#BANKNIFTY

𝟏𝟓 𝐦𝐢𝐧 𝐓𝐅 : We can clearly see a BO of the trendline and BNF closing at day high despite weak global cues on Friday and a gap down open.

All these pointers clearly indicate the leg of rally would be led by BNF

Two things to take of note of for the current week:
1. Jan 26: Trading holiday for India
2. Jan 26: US FED meet on interest rates which will be on the midnight (IST time)
So essentially we would be reacting to their interest rate decisions on Thursday morning i.e. on expiry

𝑺𝒕𝒓𝒂𝒕𝒆𝒈𝒚 𝒇𝒐𝒓 𝑺𝒂𝒇𝒆 𝒑𝒍𝒂𝒚𝒆𝒓𝒔:

Reaction points: 36900 & 39000 on the upside & downside respectively

Capital: 54.6K

RoI: ~1% for safe players

Disclaimer: Try this only if you know how to do adjustments once the level breaks

Focus on this week & the upcoming budget week would be more on Capital Preservation over returns

Wishing everyone a safe week ahead!

Hope this outlook helps ❤️

• If you are new to my TL then you can check out my previous BNF weekly outlook 🤠

• Check out my threads on trading & finance 📌 my profile

Have & happy & a safe 😷 weekend!