After breaking below the support of 49367 and closing above the intraday support level of 49159, prices traded in a range without indicating any signal for recovery yet. Let's explore potential scenarios for different openings on Friday, May 3rd, 2024: Gap Up Opening above 49367: If prices sustain above 49367 in the first hour, they could move towards 49548 –...
In the previous analysis, it was noted that the market might remain subdued within a sideways zone. Despite this, there hasn't been any bullish indication in current levels, with prices closing below the sideways range of 22737 / 22676. Let's examine potential price movements for different opening scenarios on Friday, May 3rd, 2024: Gap Up Opening: If prices...
Gap Up Opening: If NIFTY opens above 22700, watch for potential rejection around 22737. A decline below 22675 could signal a drop towards 22550 – 22536 – 22469. Conversely, sustaining above 22740 may lead to levels around 22800 and potentially 22891. Flat Opening: In case of a flat opening and a move towards 22675 followed by rejection, consider short trades...
Gap Up Opening: If BANKNIFTY opens above 49500, anticipate resistance near 49609 – 49774 and potential downside towards 49159. A bullish scenario may emerge only if prices sustain above 49774 and trade beyond 49800, targeting 50187. Sideways movement between 49367 – 49774 is probable with downside potential towards 49159 – 48990. Flat Opening: In case of a flat...
Gap Up Opening: If NIFTY opens above 22,700 and finds support around 22,680, it may climb to the levels of 22,795-22,800. Sustained momentum above 22,820 could push it towards 22,900. However, failure to hold above 22,580 might lead to a decline towards 22,559-22,522, acting as potential reversal zones. Further downside could target 22,360-22,330. Flat...
B Gap Up Opening above 49,600: If BANKNIFTY opens above 49,600, it may climb to 49,729 and 49,933 but could trade sideways to negative thereafter. Failure to sustain above 49,212 and trading below it could trigger short trades targeting 48,990, with potential further downside towards 48,609 before a potential recovery. Flat Opening: In the event of a flat...
Gap Up Opening: In the event of a gap-up opening above 48400, watch for sustained trading above 48380 as a signal for potential buying opportunities. Targets for such trades could be 48700 to 48796, with a possible continuation towards 48980 to 49075 upon surpassing 48830. However, failure to sustain above 48400 might lead to a decline towards 47985 to...
Gap Up Opening: In the event of a gap-up opening, it's essential to observe if the price remains above 22500 for the first hour without breaching the previous trading day's low. Sustained trading above this level could lead the price towards the target of 22573. Further upward movement beyond this level might encounter resistance at 22688. Conversely, failure to...
Gap Up Opening Above 48700: Prices might see initial drop to 48523. If supported and trades above 48625, expect sideways movement between 48697 – 48523. Breakout can lead to levels of 49100 – 49257 with possible profit booking. Failure to sustain at 48523 may lead to a drop to 48200-48186, where initial support is expected. Flat Opening: If prices open flat...
Gap Up Opening Above 22700: Buy: If NIFTY sustains above 22700, consider buying with a stop loss set at 15-minute candle closes below 22675. Target levels are 22794-22800. Short: If the price fails to sustain above 22688 and gets rejected, consider shorting with retracement targets at 22600 – 22562. Flat Opening: Plan for a short trade if the first-hour candle...
Gap up Opening above 48300: Buy if prices take support at 48169 and trade higher above 48279, targeting 48525 – 48601 and 48793. Short trade near 48500 if prices face rejection near 48524-48600, targeting 48180 – 48200. Flat Opening: Buy with a stop loss of 48100 for targets of 48300 – 48500 - 48524 – 48600. No short trade recommendation until price makes a...
Gap up Opening above 22500: Buy if prices sustain above 22475 and trade above 22511 after opening, targeting 22561 – 22642. Short if prices face rejection at 22511 and trade below 22475, aiming for 22400 - 22393 – 22333 – 22315. No trade between 22475 – 22511. Flat Opening: Buy if price sustains at 22400 and trades higher above 22450, targeting 22500 – 22511 -...
Recent Price Action: Bank Nifty recently experienced a structural shift by breaching the 47,800 level. Currently, the index trades within the resistance zone of 48,119 - 47,940. This zone can be interpreted as a liquidity sweep area where supply and demand forces may find equilibrium, potentially leading to a retracement. However, a sustained break above 48,120...
Yesterday's Recap: As anticipated, NIFTY traded within a defined range for most of the April 23rd session. This followed our prediction of a consolidation phase after the breakout above the previous swing high of 22,340. Current Market Structure: The breakout above 22,340 suggests a potential shift in market structure. However, prices are currently seeking a...
This analysis explores potential trading strategies for the Nifty based on various opening scenarios for April 23, 2024. Key Levels: - Support 1: 22,274 - Support 2: 22,077 (if price action forms) - Resistance 1: 22,392 - 22,475 zone - Resistance 2: 22,561 Trading Scenarios: 1. Gap Up Opening Above 22,400 - Expectation: Potential resistance and rangebound...
This analysis outlines potential trading strategies for the Bank Nifty based on various opening scenarios for April 23, 2024. Key Levels: - Support 1: 47,800 - Support 2: 47,289 (if price action forms) - Resistance 1: 47,940 - Resistance 2: 48,116 Trading Scenarios: 1. Gap Up Opening Above 48,200 - Expectation: Sideways rangebound trading. - Trading Range:...
Gap Up Opening Above 47,800: If BANKNIFTY opens with a gap up above 47,800 and sustains with support at 47,754, anticipate upward movement towards 47,939 – 48,116. However, failure to hold above 47,800 and subsequent trading below 47,754 may indicate a decline towards 47,120 – 46,952. Conversely, trading above 48,120 could lead to further gains towards 48,500 –...
Gap Up Opening Above 22,250: If NIFTY opens with a gap up above 22,250 and sustains above this level, while finding support around 22,240, a buying opportunity may arise with targets at 22,392 – 22,475. However, if it fails to hold above 22,250 and trades below 22,290 with resistance at 22,240, consider a short trade with a stop loss at 22,250 and targets of...