Following a sharp correction similar to NIFTY, BANKNIFTY may exhibit sideways to muted trading on May 10th. Key levels and scenarios for the day are outlined below: Scenario 1: If BANKNIFTY opens above 47800 and holds 47820 within the first hour, an upward move towards 48000 – 48084 is possible, with potential resistance between 48100 – 48900. Sustaining above...
After a significant correction, NIFTY experienced a sharp decline, breaching its intraday support and closing near the day's lows. For the trading day on May 10th, the following scenarios can be anticipated: Scenario 1: If NIFTY opens above 22050 and maintains above 22070 within the first hour, a relief rally may occur. Failure to hold above 22070, with...
Gap Up Opening: If NIFTY opens above 22400 and maintains above 22370, consider buying with targets at 22450 – 22490. Conversely, if it rejects near 22444 and drops below 22370, short positions can be taken with targets at 22350-22324. Flat Opening: If the market opens flat and trades above 22320, consider buying with a stop loss at 22274 and targets at 22400 –...
Gap Up Opening: Consider buying if BANKNIFTY opens above 48300 and sustains with support at 48200, targeting 48531 – 48621 with a stop loss at 48150. Short trades can be considered if the price sustains below 47950, targeting 47824 – 47574. Flat Opening: If BANKNIFTY opens flat and sustains above 48177 for the first trading hour, consider buying with targets at...
Gap Up Opening Scenario: If BANKNIFTY opens with a gap above 48500 and sustains above 48450 for the first hour, a recovery towards 48677 may occur. Further upside movement towards 49000-49100 is possible if the price holds above 48677. Conversely, trading below 48300 may signal a breakdown towards 47971-47823. Flat Opening Scenario: In case of a flat opening...
Gap Opening Scenario: If NIFTY opens with a gap above 22350 and maintains this level for the first hour, traders may consider a relief rally trade targeting 22453-22511. Should the price sustain above 22511, further upward movement towards 22673 could be observed. Conversely, if the price fails to sustain above 22350 and drops below 22300, support at 22274 may be...
Gap Up Opening: If BANKNIFTY opens above 49000 and sustains above 49020 for the first hour, it suggests bullish momentum. Consider buying with targets at 22300 – 22400. However, if it fails to sustain and starts trading below 48785, expect a drop to 48508- 48424. In this range, consider buying with a SL of 22380 for targets at 48785 – 48950. Flat Opening: On a...
Gap Up Opening: If NIFTY opens above 22500 and manages to stay above this level for the first hour, it suggests strength. In this case, consider buying with targets at 22600-22650. If it sustains above 22650, it might move sideways between 22700-22629. On the contrary, if it fails to hold above 22480 for the first hour and drops below 22400, it indicates...
Gap Up Opening above 49100: If BANKNIFTY sustains above 49100 after the opening, it might aim for an uptick towards 49374, encountering resistance at this level before potentially moving higher towards 49725. However, failure to sustain above 49080 could lead to sideways to negative trading. Flat Opening: In the event of a flat opening, BANKNIFTY could find...
Gap Up Opening above 22550: If NIFTY sustains above 22550 after the opening bell, it might face resistance around 22571-22580. A subsequent trade lower towards 22425-22382 could occur, finding support for a potential higher move. Alternatively, if the price breaks above 22580, it may trade sideways within the range of 22580-22602, with a breakout above 22610...
After breaking below the support of 49367 and closing above the intraday support level of 49159, prices traded in a range without indicating any signal for recovery yet. Let's explore potential scenarios for different openings on Friday, May 3rd, 2024: Gap Up Opening above 49367: If prices sustain above 49367 in the first hour, they could move towards 49548 –...
In the previous analysis, it was noted that the market might remain subdued within a sideways zone. Despite this, there hasn't been any bullish indication in current levels, with prices closing below the sideways range of 22737 / 22676. Let's examine potential price movements for different opening scenarios on Friday, May 3rd, 2024: Gap Up Opening: If prices...
Gap Up Opening: If NIFTY opens above 22700, watch for potential rejection around 22737. A decline below 22675 could signal a drop towards 22550 – 22536 – 22469. Conversely, sustaining above 22740 may lead to levels around 22800 and potentially 22891. Flat Opening: In case of a flat opening and a move towards 22675 followed by rejection, consider short trades...
Gap Up Opening: If BANKNIFTY opens above 49500, anticipate resistance near 49609 – 49774 and potential downside towards 49159. A bullish scenario may emerge only if prices sustain above 49774 and trade beyond 49800, targeting 50187. Sideways movement between 49367 – 49774 is probable with downside potential towards 49159 – 48990. Flat Opening: In case of a flat...
Gap Up Opening: If NIFTY opens above 22,700 and finds support around 22,680, it may climb to the levels of 22,795-22,800. Sustained momentum above 22,820 could push it towards 22,900. However, failure to hold above 22,580 might lead to a decline towards 22,559-22,522, acting as potential reversal zones. Further downside could target 22,360-22,330. Flat...
B Gap Up Opening above 49,600: If BANKNIFTY opens above 49,600, it may climb to 49,729 and 49,933 but could trade sideways to negative thereafter. Failure to sustain above 49,212 and trading below it could trigger short trades targeting 48,990, with potential further downside towards 48,609 before a potential recovery. Flat Opening: In the event of a flat...
Gap Up Opening: In the event of a gap-up opening above 48400, watch for sustained trading above 48380 as a signal for potential buying opportunities. Targets for such trades could be 48700 to 48796, with a possible continuation towards 48980 to 49075 upon surpassing 48830. However, failure to sustain above 48400 might lead to a decline towards 47985 to...
Gap Up Opening: In the event of a gap-up opening, it's essential to observe if the price remains above 22500 for the first hour without breaching the previous trading day's low. Sustained trading above this level could lead the price towards the target of 22573. Further upward movement beyond this level might encounter resistance at 22688. Conversely, failure to...