Banknifty future chart analysis for 21.08.2023
Do not go long before price crosses over upside standard deviation one, crossing over above 44075, you may
again see a beaten down buying situation which may push price further ahead, follow levels.
As you can see Banknifty future was closing near Median line from last five trading
days , this is the first time it closes below downside standard deviation one (Blue) , after
rejecting from upside standard deviation one (Blue) , which is pretty good for nice may
be downside move , and you can also see a squeeze in bollinger bands. which
may burst tomorrow.
If price opens at the same level where it left off and then crosses below the special level (Red Line)
then you can enter in PE trade , but keep in mind that 43792 will be a strong support in this situation
crossing below 43792, price may go below to the level of 43491.
again see a beaten down buying situation which may push price further ahead, follow levels.
As you can see Banknifty future was closing near Median line from last five trading
days , this is the first time it closes below downside standard deviation one (Blue) , after
rejecting from upside standard deviation one (Blue) , which is pretty good for nice may
be downside move , and you can also see a squeeze in bollinger bands. which
may burst tomorrow.
If price opens at the same level where it left off and then crosses below the special level (Red Line)
then you can enter in PE trade , but keep in mind that 43792 will be a strong support in this situation
crossing below 43792, price may go below to the level of 43491.