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BANK NIFTYImportant Levels for 21/10/2021. What we saw today has made one thing clear that the buyers are still in control as we witnessed the sellers being absorbed in the old buyer reference area 39932-39960. If we see a flat opening tomorrow, any small dips till 40122-40180 can be bought with SL placed at 40075 for initial targets of the seller reference from yesterday 41381-41441 followed by PDH at 40600-40667. Shorts can be taken if we see a big gap at the open or if we see prices below today's low @ 39800. Safe traders can avoid shorts for tomorrow.
NSE:BANKNIFTY1!Long
by deepss4u
NIFTYImportant Levels for 20/10/2022. We opened above PDH and sustained above it for a good amount of time but buyers failed to carry forward and sellers eventually gained control. For tomorrow we will take short positions once we trade below today's low @ 17457. The immediate reference on the downside is the old buyer zone at 17285-17315. So close to 200 point move can be expected with 17420 and 17367 as levels which can be pull back zones. Longs will be avoided tomorrow as do not expect much movement for this expiry.
NSE:NIFTY1!Short
by deepss4u
BANK NIFTYImportant levels for 20/10/2022. We opened above previous day range but slowly came inside the range from yesterday and eventually closed inside yesterday's as well as today's VA. The index has been mostly volatile for last two sessions with neither the buyers nor the sellers seeing any sort of follow through. Today the sellers were largely n control but we were not able to break PDL. For us to see any sort of good move to the downside we need to clear 40210. Once we break it we can take shorts with SL of 40280 for targets of 40040, followed by the buyer reference zone 39932-39960. Sustaining below it we can test another buyer reference of 39775-39846. Not expecting much of an up move for this expiry, but if we open with a gap then would look for scalps else will be avoiding longs tomorrow.
NSE:BANKNIFTY1!Short
by deepss4u
NIFTYImportant Levels for 19/10/2022. We witnessed a closing inside the VA and with immediate buyer and seller references close by, it would be wise to watch out whether we break the seller reference zone 17545-17565 or the buyer reference area of today 17458-17472. Till we rotate inside the middle of this we wont be taking any positions. Once we break below 17458, we can look for targets of 17420,17367 and the VA from yesterday @ 17280-17315. SL will be 25-35 points. On the upside when we break and trade above 17565 we can see a good move on the upside as the nearest seller reference is at 17693-17744. Being patient and protecting capital in these small rotational areas will definitely yield wonderful returns.
NSE:NIFTY1!
by deepss4u
BANK NIFTYImportant Levels for 19/10/2022. We opened with a big gap and basically traded within a small range throughout the day. We closed inside the VA, and currently we are inside an NO TRADING ZONE. The low of today @ 40213 will be important for tomorrow's context. If we see a flat open and price breaks 40213, we can take short positions with SL around 40280 for initial target of 40040 followed by targets at the buyer reference at 39932-39960. We will be taking longs at the buyer reference area of 40210-40280 levels, if we see buying volumes. The targets to look will be the seller reference area at 40456-40494. Once we break out of these levels we can see 40735 levels also. Because of overnight gaps intraday trades are being killed, this is the time to be patient and not take unnecessary positions.
NSE:BANKNIFTY1!
by deepss4u
BANK NIFTYImportant levels for 18/10/2022. The buyers emerged stronger and we managed to close at day's high and also well above the range we were stuck in since last two weeks. Tomorrow, if we see a flat opening we can get good trades on the long side. Any dips till 39932-39960 can be used as an opportunity to add longs. The initial target to look forward is 40045 and once we cross it there is a possibility of a trending day and the index testing the old seller reference at 40735-41004. Shorting the index should be strictly avoided unless we sustain below 39760 or we witness a massive gap.
NSE:BANKNIFTY1!Long
by deepss4u
BANK NIFTYImportant levels for 17/10/2022. By the looks of it we are in for a gap down open.39270-39360 will be an important area to look forward. We witnessed some aggressive buying at this zone, so if we are to see an up move the buyers will come in to defend these levels. Longs if triggered here will see targets of the seller reference from last session at 39600-39680. Prices staying above it can also test 39745 and 39923. But if we sustain below 39270, there is good chance of price testing the old buyer reference zone at 38720-38800. Shorts taken can aim for 38976 as initial targets followed by the buyer reference zone mentioned.
NSE:BANKNIFTY1!
by deepss4u
NIFTYImportant levels for 17/10/2022. We are most likely seeing a gap down open. We need to be patient for the first few minutes and see whether the buyers come in to defend positions or sellers gain control. For longs, i would prefer to take positions above 17225 for targets of 17285-17315 the seller zone from last session, price sustaining above it can see PDH levels also (17345-17362). Will look to short only if the price faces rejection at 17175 levels else wont look to short. Another round of buying can be witnessed if we see good volumes coming in at the old buyer reference of 16970-16995.
NSE:NIFTY1!Long
by deepss4u
NIFTYImportant levels for 13/10/2022. We are not seeing any definitive trend in the index with the prices not being able to break out of the bigger range. For tomorrow, if we see a flat opening, i am expecting a pullback till 17050 levels. If that happens we can take longs with a 15-20 point SL and aim for 17133 as our initial target and sustaining above it we can see the seller reference zone of 17195-17239. For short side trades at CMP i am not seeing any nice setup with good RR, so would most likely give it a miss unless we see a major gap at the open. Expecting some scalps tomorrow and not expecting a wildly trending expiry.
NSE:NIFTY1!
by deepss4u
BANK NIFTYImportant levels for 13/10/2022. Again a close nicely just above the buyer reference has kept the index nicely poised for an interesting expiry. If we open flat and see price finding buyer support @ 39210-39240, we can take long entries for initial targets of 9447 followed by the old seller zone of 39549-39615. Like Monday's analysis price sustaining above these can test 39745 and 39923. Any big gap opening and we will look for trades simply based upon intraday data. On the down side with many buyer reference zones nearby and with no lucrative RR would give the selling trades a miss unless we see a major gap up/down.
NSE:BANKNIFTY1!Long
by deepss4u
NIFTYImportant levels for 11/10/2022. After an interesting session the closing would make buyers more happier than sellers. For tomorrow a flat open and price sustaining above 17250, we can expect price to see 17312-17337 followed by the old seller reference of 17389-17408. This trade has a lower RR so initial SL cannot be more than 20 points and trailed as per data. But if we open flat and trade below 17240, risky traders can take shorts with 17260 as SL and look for initial targets of 17190. If price stays below 17190 there is a high probability of price testing 17114-17135 and today's low @ 17050. Safe traders take positions only below 17190.
NSE:NIFTY1!
by deepss4u
BANK NIFTYImportant levels for 11/10/2022. We witnessed an interesting session today and despite all negative news around our markets are having a mind of their own. A big gap down to open with and a wonderful rally till PDH and then some pullback with a close which will make the buyers happy. For tomorrow, if we open flat and move above 39266, we can take longs with a 60-70 point SL and look for initial target of 39388 and 39444 followed by the old seller reference of 39549-39615. If we still witness more buying we can see 39725 and 39923. In case op gap up, would like to wait to see how we move in the first 15 mins and then take positions as per the data. Similarly if we open flat and move below 38982, we can short with a 50-60 point SL and look for targets of 38770 and 38594. But if we witness a gap down open, would prefer to wait and short as per the data at that time.
NSE:BANKNIFTY1!
by deepss4u
BANK NIFTYImportant levels for 07/10/2022. At the beginning of the session we were wary of longs as we opened near the old seller reference area and longs were avoided but at the far end of the reference we saw rejection and got a very nice trade. For tomorrow, with VA almost equidistant from day's high and low staying light on positions can be a good idea. If we open flat and move down, we can take shorts below 39345 for targets of 39168-39214 followed by 39043 and the buyer reference of 38852-38920. On the long side, there does not look any good RR, so we can avoid it unless we witness a major gap down close to mentioned buyer reference zones.
NSE:BANKNIFTY1!
by deepss4u
BANK NIFTYImportant Levels for 06/10/2022. Last session, we saw initial momentum with heavy buying volumes towards the upside and there was nothing much post the first hour. Today we can go longs once we break PDH @ 39345 or if we get any dips till the buyer reference zone of 39168-39213. The targets o look for is at the old seller reference of 39521-39740. But if we open gap up close to the seller reference we need to wait for first 15 minutes and then take positions as per the data.
NSE:BANKNIFTY1!
by deepss4u
NIFTYImportant levels for 04/10/2022. We closed almost at day's low but with today's POC at the closing price, it is a difficult thing to know whether to look for shorts or longs. The higher time frame picture is bearish, but with buyer references nearby shorting at current levels would not give us a great RR. The important levels to look is the untested buyer reference at 16751-16765. Comfortable shorts are only below those levels. Another set up for shorts can be see if we see a gap up followed by rejection at the seller reference area 17090-17148. Not looking for longs at all currently. To sum it up, it won't be a bad decision to not trade in nifty tomorrow.
NSE:NIFTY1!
by deepss4u
BANK NIFTYImportant levels for 04/10/2022. The buyers tried real hard to defend but eventually gave up, and it is still not evident that the sellers are in control. Overall a dicey close today. For tomorrow, i will be confident to short only if any rejection is seen inside 38318-38509 (the area where maximum sellers were present). if we open flat and break today's low @ 38086, a short sell can be taken with 37956 as initial target. Subsequent targets to look is 37750 and 37600 which is the old buyer reference. SL has to be of 60-70 points and trailed. As of now, we do not see any favorable trades but if any thing comes up intraday, will update.
NSE:BANKNIFTY1!
by deepss4u
NIFTYImportant levels for 03/10/2022. For Nifty, there has been hardly any change in the composite VA for the week and with prices currently above it and below last session's VA, not taking any trades is the best trade. Once we break and sustain above PDH @ 17209, we can take longs for targets of 17319 followed by the old seller reference of 17448-17473. Similarly on the short side, once we break 16983 we can look for targets of the buyer reference of 16788-16826 followed by PDL and the old buyer references of 16751-16765.
NSE:NIFTY1!
by deepss4u
BANK NIFTYImportant levels for 03/10/2022. Last session we saw a good intraday move on the upside and we closed after facing resistance at the old seller reference. Looking at the charts from a weekly point of view we are still not above the composite profile. For tomorrow, if we open flat all we need to do is wait unless we get a clear picture of who i in control as we see an immediate seller reference at 38929-39091 and buyer reference at 38444-38591. So till we rotate inside these zones I would prefer to wait. For longs, once we open flat and trade above 39091 we can take positions with a 60-80 point SL for initial targets of 39318, followed by the old seller reference area of 39521-39740. For shorts, once we break and sustain below 38444, we can look for targets of the buying reference of 37956-37749.
NSE:BANKNIFTY1!Short
by deepss4u
NIFTYImportant levels for 30/09/2022. A good sell off followed by a silent absorption by buyers. The VA of today's session is at lower levels and we got a closing inside VA close to VAH. This puts us in a tight spot as the overall trend is bearish but with this sort of absorption at lows one can think of just seeing where this index decides to move. For tomorrow, if we see a flat open, we can wait for shorts until the old buyer reference of 16750-16765 is broken and then look for targets of 16668,16589 and 16537 which is the older buyer reference. But if we see a slight gap up, we wait for first 5 minutes and any rejection at seller reference of 17000, we can short here for targets of 16855, 16800 and 16761. For the up side, if we open flat and trade above 16900, we can play longs for targets of 16972,17000 and 17067.
NSE:NIFTY1!
by deepss4u
BANK NIFTYImportant levels for 30/09/2022. We wished for a gap up for better trades and we got good results. The bears took control in the morning but post 12pm they could not do much and we did not see much action. For tomorrow, we will be taking fresh shorts only below 37600. Our initial targets should be 36305 and if we still sustain below it, we can set final targets at the old buyer reference area of 36553-36775. This target may not be achieved intraday but on a positional basis. Will give longs a miss or play with reduced quantities above 38156 for targets of 38327 and 38404. As we will be starting a new contract the spot levels can be more accurate, we cab short below 37550 for targets of 37230.
NSE:BANKNIFTY1!Short
by deepss4u