HOW TO USE TECHNICAL ANALYSIS TO FORM A WEEKLY VIEW
A thread🧵
Got many DMs about how I form my weekly view in Banknifty and how do I analyze it.
In this thread I'll show you how I do it so that anyone can analyze Banknifty and other instruments the right way.
1: Weekly timeframe
One Should start analyzing with a weekly time on candlestick charts.
As you can see there is a clear resistance at 41940 level on weekly charts and a clear support on at 32000 level on the Banknifty chart.
Hence this is our bigger term range.
But the previous week's candle is a bearish candle hence our bias for the current week stays sell on rise.
2: Daily timeframe
Next step will be to analyse the daily timeframe charts to refine our view further.