BUY ABOVE - 48860 SL - 48680 TARGETS - 49050,49290,49480 SELL BELOW - 48550 SL - 48680 TARGETS - 48340,48200,48000 N O TRADE ZONE - 48550 to 48860 Previous Day High - 49050 Previous Day Low - 48340 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the...
Ban Nifty is already at it's 50% retracement level and could consolidate and move back up from here. Again as I explained in the Nifty analysis, with a big event looming at the horizon, cautious money might choose to stay out of the market and we will have to see how this affects the indices.
Ban Nifty is already at it's 50% retracement level and could consolidate and move back up from here. Again as I explained in the Nifty analysis, with a big event looming at the horizon, cautious money might choose to stay out of the market and we will have to see how this affects the indices.
Yesterday's sell off was evident from the third hour when the momentum was arrested at once. I did not read it back then. Lost money expecting ATH. It was picture perfect price action. Let us see Bank Nifty will continue the uptrend today OR retrace further down before it continues the rally to ATH.
Bank Nifty could face big bears at 48500. The next stop and retrace level could be the 50% retracement and could consolidate for big moves on expiry tomorrow. Again will wait to get a feel of the intend of big hands before jumping into trades.
BANKNIFTY GO FOR LONG Trade reason : 1)Day time strong uptrend & travel with Channel pattern 2)Strong Level Bottom Support - 47000 level 3)1 Hr time frame Makes HH . Entry confirmation Entry - 48100 Target 1 -49000 Target 2 - Channel Top . New Highs Possible Stop - 47300 Thank you ... Happy trading
Bank Nifty has not reached the X marked spot yet. A little higher ticks can be expected before it consolidates OR is shot down to a short term low. I will be more comfortable shorting Nifty at open.
Bank nifty faces the same scenario as Nifty. Let us see what the bears hold at higher levels for the Optimists. HDFC Bank will be in focus.
Bank Nifty Support and Resistance level, bank nifty trade is in the channel.
NSE:BANKNIFTY Trading Strategy for 15th May, 2024 | Bullish Reversal confirmed. ✅ Breakout from lower end of rising channel at daily chart. ✅ Breakout from Falling wedge patter at 15 min Time Frame Trading Strategy :- ✅ Initiate CE trade if Banknifty crosses and sustains (min 30 mins) above 48000 - 48070 ✅ Target - 48258/48461 ✅ Initiate PE trade if Banknifty...
The "Channel bottom visit" we were referring to a few days ago, is done and the Level we marked " TO be protected" on 2nd May has been visited and protected (No close below that). We got the ritualistic bounce off there and now what ? The way back up to the top of the channel is not going to be an easy one and looks less probable. Was this bounce, induced by Amit...
Index managed to to close in green for the first time in this month, it bounced off from the intraday lows to close meaningfully green, Break of previous candle high of 47868 would bring us the following levels on the index in no time - 1st target - 48250 2nd target - 48660 3rd target - 49000/050 Long traders should stay cautious if the index starts...
Hello Traders, Kindly checkout the latest update on Nifty and BankNifty. As we told in start of the month that Nifty have major support of 21780 and BankNifty have majot support of 47033. Today Nifty have almost tested the support and pumps up while BankNifty have fully tested the support and pumps up.
This is the support we have been waiting for since 2nd of May. Now that we have made daily candles that look a lot like reversal candles to me, I am absolutely sure about being unsure on what to to. Will perhaps let Bank Nifty decide for herself on a moon first. Till then, I have a seat with the audience.
Will the banks be able to close this week above these crucial levels is the big question. Them Bank Nifty remains the lone crusader who never gave into this bloodbath.
Bank Nifty is stuck in a difficult zone from where it has a lot more to fall than NIFTY before we can say it's with the bears.
If the ritual we mentioned yesterday plays out, a PUT buy in Bank nifty could be the trade of the year. But again Bank Nifty is also at a crucial FVG level. And to the bottom of the channel, it has a long way to go.
The last time Bank Nifty tried going up without testing the bottom of this channel was in Jan 2024. Look at what happened then. We opened to a large Gap down and completed the ritual. That ritual is pending in Bank Nifty. If that is the case, we will see a sting into the bottom before we continue higher.