#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://x.com/niki_poojary/sta...
#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.