Thread by @niki_poojary

#BANKNIFTY
Expecting a halt/pause at higher level in this truncated week

Outlook for the week Oct 25 - Oct 28, 2022.

THREAD: Deconstructing BANKNIFTY on 4 different TF's.

#BANKNIFTY

1. Monthly TF:

• Bullish view. Comfortably sustaining above 40k for now.

• 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

•Waiting for a confirmed BO, but the targets for this one is just stupendous, will share the exact target post a BO.

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

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

https://twitter.com/niki_poojary/status/1553900844726095872?s=20&t=8H71IZqHyKulwGbIE2JyVg

#BANKNIFTY

3. Daily TF:

• Two back to back runaway gaps calls for a breather/ rest/ pause before giving a BO of the C&H pattern i.e. > 41800

• Anticipating a small pause in this truncated week

#BANKNIFTY

4. 15 TF:

• S/R mentioned on the charts.

#BANKNIFTY

Conclusion:

• On monthly, weekly and daily BNF is bullish.

• On daily TF it might pause before the BO.

• Clearly a Buy on dips market

•Except for SBIN, all banking results are done, and have delivered strong numbers, expecting the same for SBIN too.