BANK NIFTY - Trend Analysis for 18-07-2022
Trade Plan during the day :
With Bullish Global Sentiments on weekend and good performance in HDFC bank results, my plan is to hold "Bullish Only" view for the entire day and may not look for any short sells during the day.
Scenario 1 :
If Bank Nifty opens above 35000 i will go long with stop loss at 34900 (100 points initial risk) and wait for potential targets 1 & 2 which i foresee easily during the day.
Trial Stop loss to 35000 once market reaches Potential Target (1) - Book full profits on Potential Target (2)
Scenario 2 :
If Market opens below 35000 then wait for markets to cross 35000 at least for 5 minutes and then go long with stop loss @ 34900 .
Scenario 3 :
If opens below 35000 and keeps trading below then look for buying only around Buyers zone with stop loss of 100/- points risk.
Scenario 4 :
once Bank Nifty closes above 35400 then we may enter new terrain followed by heavy short covering which may lead us to 36300 in few sessions easily (this is my pre-mature assumption for now)
Do Comment , share and "LIKE" if you find this info valuable to use . Believe me it takes lot of time to visualize the market before the opening bell :)
Happy Hunting ,
Chintamani
Disclaimer.
I am not SEBI registered analyst.
My studies are for educational & General purpose only.
Please Consult your financial advisor if you have plans of trading or investing.
You yourself hold sole responsibility of profits and losses arising of above shared info
Trade Plan during the day :
With Bullish Global Sentiments on weekend and good performance in HDFC bank results, my plan is to hold "Bullish Only" view for the entire day and may not look for any short sells during the day.
Scenario 1 :
If Bank Nifty opens above 35000 i will go long with stop loss at 34900 (100 points initial risk) and wait for potential targets 1 & 2 which i foresee easily during the day.
Trial Stop loss to 35000 once market reaches Potential Target (1) - Book full profits on Potential Target (2)
Scenario 2 :
If Market opens below 35000 then wait for markets to cross 35000 at least for 5 minutes and then go long with stop loss @ 34900 .
Scenario 3 :
If opens below 35000 and keeps trading below then look for buying only around Buyers zone with stop loss of 100/- points risk.
Scenario 4 :
once Bank Nifty closes above 35400 then we may enter new terrain followed by heavy short covering which may lead us to 36300 in few sessions easily (this is my pre-mature assumption for now)
Do Comment , share and "LIKE" if you find this info valuable to use . Believe me it takes lot of time to visualize the market before the opening bell :)
Happy Hunting ,
Chintamani
Disclaimer.
I am not SEBI registered analyst.
My studies are for educational & General purpose only.
Please Consult your financial advisor if you have plans of trading or investing.
You yourself hold sole responsibility of profits and losses arising of above shared info
Trade active:
Got our long entry keep SL @ 34900 and hold for potential upside targets
Comment:
got entry as per Scenario 2
Trade closed: target reached:
Reached our Potential Target 2 without any issue :) . Cheers
Comment:
Bank Nifty trading above 35750+ today , 36000+ levels are visible very soon :)
