Bank Nifty Intra Day Trade Strategy for 23/7/21

Jul 22, 2021

Bank Nifty Trade Setup for 23RD July, 2021– Bank Nifty Closes At - 34677
Daily time frame – support – 34350
resistance - 35450

5 min time frame - resistance at 35000 and support at 34550

Sentiment of the Market – sentiment is bullish

Intraday Action for Various Possibilities -
1) Opens Flat -
a) Goes Up- Buy CE only if it crosses 34750
b) Goes Down – Buy PE if it falls below 34450

2) Opens with Gap Up -
a) But Below 34750 - Buy CE only if it crosses 35000
b) Above 34750
i) Its going up - Buy CE only if it crosses 35000
ii) Its going down -Wait for it to bounce back from 34750 and buy CE when crosses 35000
if it breaks 34550 - then no trade till 34450
and if it breaks 34450 then Buy PE below 34450 till 34350 and beyond.

3) Opens with Gap Down -
a) Above 34550 - Wait for it to bounce back from 34550 and buy CE trade above 34750 only
b) Below 34550-
Keeps on falling then Buy PE up to a fall of 34350, support present at 34450

These Levels are for Safe Playing Traders Only and during Live Trading you can always make profit from Scalp Trading between these levels