This blog is my trading diary. It is an attempt to organise my analysis and thoughts. I follow the charting methods given in JUST NIFTY blog by Ilango sir and so the charts would have striking resemblance to his charts. I am indebted to Ilango sir for having made this blog possible for me.

August 7, 2015

BANK NIFTY ANALYSIS

BANK NIFTY IS AT MAKE OR BREAK level. The Previous range between 19000 - 19800 has shifted to 19100-18900.

BEARISH VIEW: Breakdown below 18900 - would take it down towards 18800-750.

BULLISH VIEW- A typical Inverse Head and shoulder pattern has formed with breakout above 19100 SPOT LEVELS.





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5 comments:

naveen said...

Hello Sir ..

Any fresh updates on Bank nifty ..any divergences you see ? Thanks .

August 10, 2015 at 12:18 PM
satheesh said...

Hi naveen,

BN range between 18900 -19100 is yet to be resolved. Today Opening Low is 18900 and has made a high of 19071 till now. Breakout/breakdown of this range is required for further moves. Also SBI is trading at 285 levels - @ 200 DMA. breakout of this will favour a good upmove in sbi upto 310-315 - which will trigger BN move too. tomorrow is abi result.

August 10, 2015 at 1:04 PM
satheesh said...

Also icicibank is trading at 310-315 range. Breakout/ Breakdown of this will also faour the move in BN accordingly.

August 10, 2015 at 1:05 PM
naveen said...

Superb Sir ..Thank u for the update ..looks like sbi hear ur view n is breaking out ...Appreciate it ..:) and sir if sbi goes other way ..what can be a reliable sl to indicate its reversed ..

August 10, 2015 at 1:38 PM
satheesh said...

in SBI - If EOD close is above 285 - 200DMA - it is a sign of bullishness.If 285 not crossed then next Support is 275. Break of 275 - would be bearish upto 265.

August 10, 2015 at 2:16 PM

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