BankNifty Fut Weekly Chart
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Observe the darker thicker line at 21000 level providing support.
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1/n
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Observe the darker thicker line at 21000 level providing support.
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1/n
It is also low of week closing 13Mar20 as you can see on extreme left circled.
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2/n
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2/n
Last few weeks since 20June20 it is taking support on 21000 on Weekly basis with notable lows of 21025 and 21087 as seen in Value Chart presented as above.
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3/n
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3/n
For any decisive breakout for a trend to emerge below this range of 21000 needs a strength candle close above below 21000
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4/n
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4/n
Coming to Top 23137 since bottom 16050.
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Observe the Blue Band 21535 - 23137
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The Blue Band shows that Zone which does not have a Body Cross over. That is to say it has no Open or Close beyond the range 21535 – 23137 since 20Jun20.
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5/n
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Observe the Blue Band 21535 - 23137
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The Blue Band shows that Zone which does not have a Body Cross over. That is to say it has no Open or Close beyond the range 21535 – 23137 since 20Jun20.
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5/n
Hence, if at all a new uptrend emerges, it must provide a Close on Weekly basis above 23137 on 21Aug, 28Aug so on.
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Till then, the Trend is Sideways between 21535 – 21000.
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6/n
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Till then, the Trend is Sideways between 21535 – 21000.
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6/n
Only on any major Policy Decision from RBI in nature of a structural change or Govt’s blanket support to Banks irrespective of rising NPA’s that trend would emerge Upside.
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7/7
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7/7
