NIFTY & BANKNIFTY Weekly Plan - Week 17 Nov
#NIFTY
Definitely leader of the pack this week.
Key Support at 12720F, Hold abv that will continue to remain bullish.
1. Hold abv 12720F for a move to 12860 /13020
2. Break and hold below 12600 for a move to 12440/12350/12290
#BANKNIFTY
Pretty balanced week- where the bulls and bears were leveled and closing near VPOC of the week.
Will look for break and hold outside this zone (28850-28150) or rotation within this zone.
1. Break abv for a test of 29200/29900/30100
2. break below for a test to 27750/27200
-We use methods of Volumeprofile analysis for identification of key S/R levels of the markets.
This also helps us stay aligned with the institutional flow.
Further we use orderflow for execution refinement and entry exit decision making.
Definitely leader of the pack this week.
Key Support at 12720F, Hold abv that will continue to remain bullish.
1. Hold abv 12720F for a move to 12860 /13020
2. Break and hold below 12600 for a move to 12440/12350/12290
#BANKNIFTY
Pretty balanced week- where the bulls and bears were leveled and closing near VPOC of the week.
Will look for break and hold outside this zone (28850-28150) or rotation within this zone.
1. Break abv for a test of 29200/29900/30100
2. break below for a test to 27750/27200
-We use methods of Volumeprofile analysis for identification of key S/R levels of the markets.
This also helps us stay aligned with the institutional flow.
Further we use orderflow for execution refinement and entry exit decision making.
#nifty 12865 done, support now at 12845 for the move