Banknifty - 5 day same closing

9 февр. 2023 г.

So bank nifty today also closes on the same level where the last four days close. What I mean to say, the means price cannot be on the same level for a longer period, it has to move up or down. In this chart, I have given you an example of last week's (black pencil mark), from the last 4 days, the closing was on the same level, and on Friday it was a trending day.
So now also bank nifty is doing the same thing, from last 5 days bank nifty closing is the same, thus means there can be a great move tomorrow, it can be upside or downside. As bank nifty is bullish, giving a bullish closing I am expecting on the buy side.
If bank nifty breaks the previous day's high(PDH) we will go long, and if breaks the previous day's low(PDL) we will go short.