Hey guys we're looking at the bank nifty hourly chart and welcome back!
Let's see what the range and trading levels are for Monday the 18th as you can see I'm taking the sixth April high here as my first resistance level
My fifth April high at as the second resistance and the red lines emanating from these respective resistances are your gone angle resistance lines all right and similarly I'm taking the 31st march support as s1 around 300. 36,300 is our support
And the white lines are you gone support lines emanating from s1 going up okay for convenience sake and for to help you guys remember these key levels I have labeled them okay so you won't miss anything you won't have to remember what I said so let's dive right into it bank nifty closed
Just above its support level of 380. the intersection right here of the r2 resistance and the s1 resistance is your support we have not tested it last week and we've yet to do that okay so that is our immediate support at 380. if that breaks which is expected as a bank nifty is expected to gap down in the morning so our second support is at 37 160 and if we
Open below that our support here is at 36 920 so we would have essentially opened below 37 000 and would test 36 920 at the outset okay now on the way up let's have a look at our resistance levels the first one is right at 500 okay
Very very close to where we closed the next one is the intersection here of r1 and s1 at 610 okay and if if bank nifty trades above that we are looking at a solid resistance here at nine hundred thirty seven thousand nine hundred as you can tell how my cursor has been placed at nine
Hundred that has been the resistance for the last entire week from the 6th of April till the 13th okay more than a week so 900 is not expected to break that would take something major for bank nifty to go above 37 900 on Monday
Okay so most likely we'll stay below and I hope bank nifty can stay above support 36 920 okay however in the event 36 920 is broken all right that is a definite short right there no question about it then we are going all the way down to s1 300 okay guys so that's a 620 point drop right there
Which you could make money off on the short side all right so keep this in mind 36 920 all right if this is not broken then we're probably looking at a sideways kind of market between 36 900 to 36 400 in case 36 920 holes we expect the market to go all the
Way back up towards the 36 three on a 380. so again guys that's a nearly 500 point move which you could capitalize all right but that depends on if 36 37 160 which presently is support below if we are trading below that that would become resistance okay so
You have been warned about all the levels I'm expecting a range let's quickly talk about the range for Monday we're looking at a range of from 640 right here on this red line red resistance lines from r2 and a low of 36 920 right so
We have about a 700 point range that bank nifty could trade in on Monday and if 920 is broken you know what to do we're going to 300 as well I hope this was helpful I hope these support and resistance labels were convenient for you I'll try to incorporate them in as many videos as possible as and when I get the time so guys good luck and
Happy trading I hope your trades are profitable if you have any questions put them down in the comments section and I will get back to you okay take care see you in the next video
Let's see what the range and trading levels are for Monday the 18th as you can see I'm taking the sixth April high here as my first resistance level
My fifth April high at as the second resistance and the red lines emanating from these respective resistances are your gone angle resistance lines all right and similarly I'm taking the 31st march support as s1 around 300. 36,300 is our support
And the white lines are you gone support lines emanating from s1 going up okay for convenience sake and for to help you guys remember these key levels I have labeled them okay so you won't miss anything you won't have to remember what I said so let's dive right into it bank nifty closed
Just above its support level of 380. the intersection right here of the r2 resistance and the s1 resistance is your support we have not tested it last week and we've yet to do that okay so that is our immediate support at 380. if that breaks which is expected as a bank nifty is expected to gap down in the morning so our second support is at 37 160 and if we
Open below that our support here is at 36 920 so we would have essentially opened below 37 000 and would test 36 920 at the outset okay now on the way up let's have a look at our resistance levels the first one is right at 500 okay
Very very close to where we closed the next one is the intersection here of r1 and s1 at 610 okay and if if bank nifty trades above that we are looking at a solid resistance here at nine hundred thirty seven thousand nine hundred as you can tell how my cursor has been placed at nine
Hundred that has been the resistance for the last entire week from the 6th of April till the 13th okay more than a week so 900 is not expected to break that would take something major for bank nifty to go above 37 900 on Monday
Okay so most likely we'll stay below and I hope bank nifty can stay above support 36 920 okay however in the event 36 920 is broken all right that is a definite short right there no question about it then we are going all the way down to s1 300 okay guys so that's a 620 point drop right there
Which you could make money off on the short side all right so keep this in mind 36 920 all right if this is not broken then we're probably looking at a sideways kind of market between 36 900 to 36 400 in case 36 920 holes we expect the market to go all the
Way back up towards the 36 three on a 380. so again guys that's a nearly 500 point move which you could capitalize all right but that depends on if 36 37 160 which presently is support below if we are trading below that that would become resistance okay so
You have been warned about all the levels I'm expecting a range let's quickly talk about the range for Monday we're looking at a range of from 640 right here on this red line red resistance lines from r2 and a low of 36 920 right so
We have about a 700 point range that bank nifty could trade in on Monday and if 920 is broken you know what to do we're going to 300 as well I hope this was helpful I hope these support and resistance labels were convenient for you I'll try to incorporate them in as many videos as possible as and when I get the time so guys good luck and
Happy trading I hope your trades are profitable if you have any questions put them down in the comments section and I will get back to you okay take care see you in the next video
