Technical Analyst, owner of TRADEMANIAC
I provided my research on November 29 and stated that Banknifty may correct 4000-6000 points.
Read the blog of Nov,29 :-https://gicaedu.in/blog-details/trademaniac-banknifty-intraday-positional-trend-29-11-22
I had clearly mentioned, "Banknifty may crash from here if it close below the upper trendline in the daily chart. Already bearish candle is formed. one big volume candle is necessary for confirmation. My target is 41000,40000,390000,38000, 37200, 36800. 36800-37500 is my final target."
Now, Banknifty is reacted same as I predicted. 1500 points already achieved. I had shared the trade also in my Telegram channel. My view is the same.
Bank Nifty (spot) is closed just above the 45 DMA. Find fake short covering levels, upper levels, the entire day's trend and range, the break down point, compute entry and exit points, and unique support and resistance much earlier to prevent falling into a trap in option trading. You now know that the 42800 and 43018 is Bank Nifty (spot) fake short covering levels. Bank Nifty spot may open at 42800 and climb toward 42900. Watch out if Bank Nifty is unable to hold above 42800 then may fall below 42500 and 42345.
Wish you a profitable day.
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