Thread by @niki_poojary

#BANKNIFTY

Expecting a fresh ATH this week.

Outlook for the week Nov 7- Nov 11, 2022.

THREAD: Deconstructing BANKNIFTY on 4 different TF's.

#BANKNIFTY

1. Monthly TF:

• Bullish view. At fresh ATH closing on monthly basis.

• Looks very promising at higher TF.

• Will outperform Nifty.

#BANKNIFTY

2. Weekly TF:

• Expecting a C&H formation followed by a BO, we had discussed the same in our workshop on Oct 16, 2022.

• Expecting a big move in BNF > 51k which will take several months.

• Waiting for a confirmed BO, for exact targets.

Expecting this tgt 2 of channel BO to get achieved within few days.

However once C&H BO happens, will share huge targets.

#BANKNIFTY

3. Daily TF:

• After a two week pause at higher levels we will see a fresh BO.

#BANKNIFTY

4. Hourly TF:

• S/R mentioned on the charts.

#BANKNIFTY

The more the time a resitance is tested the weaker it becomes.

#BANKNIFTY

Conclusion:

• Monthly, weekly & daily TF BNF is bullish.

• Clearly a Buy on dips market.

• #SBIN declared stellar numbers, BO of C&H in this counter is also activated

•BNF >51k which will take several months.