Bank Nifty important Levels and trade plan for 15th September
Bank Nifty important Levels and trade plan for tomorrow, 15th September
In daily time frame bank nifty is in uptrend, for tomorrow, we may have to be ready for both bullish or bearish possibilities. Which will predominately decide by today’s high and low. Anything above today’s high, we may expect a continuation in uptrend, and below today’s low, it will be a correction in uptrend.
For flat opening will have to wait, to cross 45944 preferably with a price action, to enter into a bearish trade. 45812 will be the first target, followed by 45716, 45615 and 45421. However, it will be better for us to go with limited quantity in downside.
For similar opening, can go for bullish trade, above 46061. 46140, 46340 and 46620 will be the target levels. Surely there will be some intermediate resistance levels, but chances of complete reversal in larger time frame from those levels are low. For bullish trade full quantity will be deployed above 46140, below that we will trade with half quantity.
For gap up opening, up to 46140, may expect some reversal, but opening above this level, chances of reversal is low, hence may enter into bullish trade with full quantity, preferably after an initial pullback in lower time frame.
For gap down opening, since we may expect reversal from each level, so can plan for bullish trades, near support levels, with touch and reversal basis form 45812 and 45615 and with a price action, from 45716 level.
*Personal opinion, not a trade advice*
*Support and resistance levels are based on Fibonacci*
In daily time frame bank nifty is in uptrend, for tomorrow, we may have to be ready for both bullish or bearish possibilities. Which will predominately decide by today’s high and low. Anything above today’s high, we may expect a continuation in uptrend, and below today’s low, it will be a correction in uptrend.
For flat opening will have to wait, to cross 45944 preferably with a price action, to enter into a bearish trade. 45812 will be the first target, followed by 45716, 45615 and 45421. However, it will be better for us to go with limited quantity in downside.
For similar opening, can go for bullish trade, above 46061. 46140, 46340 and 46620 will be the target levels. Surely there will be some intermediate resistance levels, but chances of complete reversal in larger time frame from those levels are low. For bullish trade full quantity will be deployed above 46140, below that we will trade with half quantity.
For gap up opening, up to 46140, may expect some reversal, but opening above this level, chances of reversal is low, hence may enter into bullish trade with full quantity, preferably after an initial pullback in lower time frame.
For gap down opening, since we may expect reversal from each level, so can plan for bullish trades, near support levels, with touch and reversal basis form 45812 and 45615 and with a price action, from 45716 level.
*Personal opinion, not a trade advice*
*Support and resistance levels are based on Fibonacci*