Intraday Analysis of Nifty and Bank Nifty - 16Feb21
Will Nifty Continue its Bullish Run?
Hi Guys...Welcome to Thenali Views.
Today we are going to see the Intraday Analysis for Nifty and Bank Nifty for 16-Feb-2021..
1st : we are going to analysis the intraday chart in Nifty...
Today Nifty was opened with a huge gap up at 15270.30 and touched the day low of 15243.40 and there after it consolidated range within its support of 15270.
At time of closing the nifty has touched all time high of 15340.15 and closed at 15314.70.
The Nifty which today low 15243.40 is today pivot resistance 1 level which acted as support and 15325 which the resistance 2 has acted as strong resistance.
But at the closing time, the nifty has broken the resistance but closed below the resistance 2.
The opening candle which acted as the Flag Pole and nifty was in consolidation which acted as Flag.
Today CPR will be extended to tomorrow and also acted as virgin cpr.
Excepted CPR:
Pivot 15,299.50
Bottom CPR 15,291.80
Top CPR 15,307.10
Support and Resistance
R1 15,355.45 S1 15,258.70
R2 15,396.20 S2 15,202.70
R3 15,492.95 S3 15,105.95
CPR: Bearish Bias
Will Bullish Run continue in Nifty Tomorrow?
Case 1:
If the script breaks today low & then there may be bearish act will form.
Target- 15190 & 15170
Case 2:
If the script moves above todays day high go for long.
Target: 15400.
Impression: Today last candle is formed as Bearish Engulfing. Hence whether bearishness may follow tomorrow.
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2nd: Bank Nifty:
Now we are going to see Banknifty for 16-Feb-2021
Bank Nifty has opened at 36501.40 and touched the day low of 36405.10 which was resistance of the pivot which acted as the support today and moved day high of 37449.90 which was a all time high and closed at 37306.25.
Today CPR is a Virgin CPR which will be acted as support for tomorrow.
Index has broken all the 4 Resistance level.
CPR:
Pivot 37,053.75
Bottom CPR 36,927.50
Top CPR 37,180.00
Support and Resistance
R1 37,702.40 S1 36,657.60
R2 38,098.55 S2 36,008.95
R3 39,143.35 S3 34,964.15
CPR: Bearish Bias
Will Bank Nifty will be Bearish Tomorrow?
Case 1:
If the script goes above today day high. Then go for buy.
Target - 37700 and 38000
Case 2 :
If the script breaks the CPR and go below then go for sell.
Target : 36400 and 36000.
Impression: Since Bearish Engulfing is formed in the last candle. Banknifty may have bearish side tomorrow.
Disclaimer: Kindly do your own analysis before executing this trade. I am not a SEBI Registered Analyst.
Hi Guys...Welcome to Thenali Views.
Today we are going to see the Intraday Analysis for Nifty and Bank Nifty for 16-Feb-2021..
1st : we are going to analysis the intraday chart in Nifty...
Today Nifty was opened with a huge gap up at 15270.30 and touched the day low of 15243.40 and there after it consolidated range within its support of 15270.
At time of closing the nifty has touched all time high of 15340.15 and closed at 15314.70.
The Nifty which today low 15243.40 is today pivot resistance 1 level which acted as support and 15325 which the resistance 2 has acted as strong resistance.
But at the closing time, the nifty has broken the resistance but closed below the resistance 2.
The opening candle which acted as the Flag Pole and nifty was in consolidation which acted as Flag.
Today CPR will be extended to tomorrow and also acted as virgin cpr.
Excepted CPR:
Pivot 15,299.50
Bottom CPR 15,291.80
Top CPR 15,307.10
Support and Resistance
R1 15,355.45 S1 15,258.70
R2 15,396.20 S2 15,202.70
R3 15,492.95 S3 15,105.95
CPR: Bearish Bias
Will Bullish Run continue in Nifty Tomorrow?
Case 1:
If the script breaks today low & then there may be bearish act will form.
Target- 15190 & 15170
Case 2:
If the script moves above todays day high go for long.
Target: 15400.
Impression: Today last candle is formed as Bearish Engulfing. Hence whether bearishness may follow tomorrow.
------------
2nd: Bank Nifty:
Now we are going to see Banknifty for 16-Feb-2021
Bank Nifty has opened at 36501.40 and touched the day low of 36405.10 which was resistance of the pivot which acted as the support today and moved day high of 37449.90 which was a all time high and closed at 37306.25.
Today CPR is a Virgin CPR which will be acted as support for tomorrow.
Index has broken all the 4 Resistance level.
CPR:
Pivot 37,053.75
Bottom CPR 36,927.50
Top CPR 37,180.00
Support and Resistance
R1 37,702.40 S1 36,657.60
R2 38,098.55 S2 36,008.95
R3 39,143.35 S3 34,964.15
CPR: Bearish Bias
Will Bank Nifty will be Bearish Tomorrow?
Case 1:
If the script goes above today day high. Then go for buy.
Target - 37700 and 38000
Case 2 :
If the script breaks the CPR and go below then go for sell.
Target : 36400 and 36000.
Impression: Since Bearish Engulfing is formed in the last candle. Banknifty may have bearish side tomorrow.
Disclaimer: Kindly do your own analysis before executing this trade. I am not a SEBI Registered Analyst.
Trade closed: target reached:
Target Achieved