Hi,
The Bank gap down opened -186 paints and closed -264 points with volatile of 612
points. Illustrate the 15minuts chart, from opening to 9:30 AM reached high of 41502 crossed (CPR TC) then immediate fall from there to bellow S2 level within 45 minutes. It took support of S2 bounce back to near CPR BC act as Resistance from there again fall to crossed S3. Again, took S3 Support bunce to upward to S1 and not Sustain again bunce to down ward and closed after crossed bellow the R2. Today most of the traded done in between Pivot to S3 2 bounces in upward and 3 bounces downward. If you see the market moment up and down around 1320 points its heavy volatile session today.
If draw the Fib retracement levels for the day chart the output of support and resistance levels are as follows for tomorrow trades.
Resistance-R3-41810, R2-41548 & R1-41342
Pivot -41198, BC41195 & TC41201
Support – S1-41053, S2-40875 & S3-40586
If Bank Nifty sustained above 41550 the bull remains and move upwards further 41810, 41950& 42000
If Bank Nifty sustained below 41200 it will turn to bear side and ready to retrace the level of 41050 ,40875 & 40585.
So, we have to be in very careful to watches the above levels and do the successful trade.
Disclaimer: Not SEBI registered advisers. It is my own analysis by my past experience. You may consult with your finance adviser for your action.
The Bank gap down opened -186 paints and closed -264 points with volatile of 612
points. Illustrate the 15minuts chart, from opening to 9:30 AM reached high of 41502 crossed (CPR TC) then immediate fall from there to bellow S2 level within 45 minutes. It took support of S2 bounce back to near CPR BC act as Resistance from there again fall to crossed S3. Again, took S3 Support bunce to upward to S1 and not Sustain again bunce to down ward and closed after crossed bellow the R2. Today most of the traded done in between Pivot to S3 2 bounces in upward and 3 bounces downward. If you see the market moment up and down around 1320 points its heavy volatile session today.
If draw the Fib retracement levels for the day chart the output of support and resistance levels are as follows for tomorrow trades.
Resistance-R3-41810, R2-41548 & R1-41342
Pivot -41198, BC41195 & TC41201
Support – S1-41053, S2-40875 & S3-40586
If Bank Nifty sustained above 41550 the bull remains and move upwards further 41810, 41950& 42000
If Bank Nifty sustained below 41200 it will turn to bear side and ready to retrace the level of 41050 ,40875 & 40585.
So, we have to be in very careful to watches the above levels and do the successful trade.
Disclaimer: Not SEBI registered advisers. It is my own analysis by my past experience. You may consult with your finance adviser for your action.