There is two big news out in the market in between long weekend:-
1. Farm laws: India PM Narendra Modi repeals controversial reforms
2. Reliance, Saudi Aramco call off proposed investment deal
#Banknifty has corrected 4081 points in the last 4 weeks, which proves the market knows everything in advance.
Any panic on Monday must be bought in, bad news out of the market.
Now back to analysis:- Swing of 30,405 to 41,829, 38.2% retracement comes to around 37,465 and 100 DMA is placed in 36,969 (100 DMA is hardly breached in the market in last 1 year)
Till the time market is above 34,769 nothing to panic about for long-term investors.
Falling wedge signifies price contraction and a decisive move is on cards.
When will be BankNifty out of woods:- closing above 38,450?
Panic shakes up the weak hand out of the market and smart money comes in during panic.
If you feel worth off, like it.
Regards,
SG.
1. Farm laws: India PM Narendra Modi repeals controversial reforms
2. Reliance, Saudi Aramco call off proposed investment deal
#Banknifty has corrected 4081 points in the last 4 weeks, which proves the market knows everything in advance.
Any panic on Monday must be bought in, bad news out of the market.
Now back to analysis:- Swing of 30,405 to 41,829, 38.2% retracement comes to around 37,465 and 100 DMA is placed in 36,969 (100 DMA is hardly breached in the market in last 1 year)
Till the time market is above 34,769 nothing to panic about for long-term investors.
Falling wedge signifies price contraction and a decisive move is on cards.
When will be BankNifty out of woods:- closing above 38,450?
Panic shakes up the weak hand out of the market and smart money comes in during panic.
If you feel worth off, like it.
Regards,
SG.
