In our last Bank Nifty analysis, we pointed out that there could be a possible break down in "Bank Nifty," below the angled line.
Our unique "Angle" tool alerted us about this opportunity of 1000 points fall very early & securely, once the price gets closed below, the shown angle line, sentiments shifted into the favors of bears & after that every rise was selling opportunity.
At present sentiments are still showing weakness, and entirely bears have the upper hand.
26435 & 26047 will be the critical supports to look out for in the downside & 26880 & 27100 are the resistance.
Most traders look out for just Dates or for certain TIME & their "High or Low" to have a breakout, which in my view is not entirely appropriate or not the way of profiting in the long run.
As it is first & foremost it's essential; for one to understand the delicate structure of Price & Time, as that is the missing application in most of the so-called trading methods.
But that is not the case here, at this site, our each method has been designed or discovered or re-discovered on the proper structure of Price & Time, the same has been presented in the above post, where "TIME" alerted, us about it's upcoming & possible move & that with the significant amount of surety.- Divesh
As posted in the last analysis: 10965 will act as resistance above that move towards 11030 / 11100 / 11300 can be seen & 10870 will act as support below which move towards 10810 / 10720 can be seen.
Nifty Daily Chart Angles
Last week, Nifty made the high of 10987 but failed to give any single EOD close above, our resistance 10965, and on the downside, it breaks & gets close below our support level of 10870, & made the low of 10756.
Next week 29th Jan is the critical date, 10863 will act as resistance above that move towards 10925 / 10999 / 11100 can be seen & 10730 will act as support below which move towards 10670 / 10620/ 10500 can be seen.
Note: Above mention price projection & other Information are for educational purpose only.