The structure and price-action of bank nifty look weak both on the weekly and daily chart.
Hence it is likely that the weakness may continue further in the coming week.
Weekly Candle - Big Bear Candle ( Range approx 6%)
Daily Candle - Big Bear Candle ( Range approx 2.88%)
Since there is a huge sell-off in a very short time span, which opens up a probability...
Bank nifty corrected about 10% from recent high in this month. As tomorrow is expiry we can still expect BNF to move with high volatility. So Day trading is not advisable for next two days.
If the BNF breaks trend line with high volumes and can withstand the level 37500 level, only then the we can go for buying.
Resitance R1 -38100
BANKNIFTY ANALYSIS For 22-NOVEMBER-2021 09:15 AM Live Intraday Calls, Predictions, And Market Analysis
🤑🤑 TRADE SETUP FOR BANKNIFTY🤑🤑
👉BUY BANKNIFTY ABOVE 38224 WITH STOPLOSS OF 37875 AND TARGET 38500, 38800
👉SELL BANKNIFTY BELOW 37950 WITH STOPLOSS OF 38224 WITH TARGET 37650 AND 37400
✅ BANKNIFTY SUPPORT AND RESISTANCE LEVELS
SUPPORT 1 - 38008
SUPPORT 2 -...
BANKNIFTY : Levels for 15th Nov
- Details given on Charts
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My studies are Educational purpose only
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BankNifty forms rising wedge patterns which is a bearish sign near resistance levels.
So, break of wedge pattern may drag BankNifty downwards.
Wait for the breakout and Short BankNifty Futures or Short ITM Calls.
This was a whole vacations for us as the market was shut for almost a week and we were bored of not making profits.
So in opening banknifty opened near the resistance we took 40100 PE and made some handsome profits in it as we trailed it all the way down until the market showed some signs of recovery then we shifted to CE side but did not trail it...
Muhurat trading day was kind of boring with no move at all but we made near 25 pts profit in PE side after it broker our support level but that was it for that day.
BankNifty 8th November :
Buy Above: 39685
Sell Below: 39560
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Any comments and...
Beware, market timings tomorrow - 6:15 p.m - 7:15 p.m
BankNifty opened Gap up today and consolidated then it broke the triangle pattern that we uploaded and gave a big downside move.
We took trade on retest of the triangle and captured the 500 points move and made a good profit in PE side.
Then we also took CE as we hoped for a short recovery an made a profit...