BANK NIFTY 27JAN LEVELS
Updated
27 january levels on Bank Nifty
FII sold net -7094Cr and DII + 4534
1. After US market ended in green and considering 36400 level of 24jan took support and broke the trendline marked, bank Nifty had a bull run despite Nity was in Red.
These situations happen when Nifty is in Red in open and BankNifty in Green. Most of the time when BN shows lot of strength breaking previous pivot highs it has rallied and we saw similar rally today
2. Fib levels drawn and levels marked. I will buy when I see positive bullish pattern at levels and go for higher targets considering option chain shows call writers closing positions at resistance levels
3. But Thursday can be a sideways market based on CPR levels of Thursday therefore some retracement expected before market could move up to 38000 levels. But like I said will wait for Bullish candle pattern at levels.
Bank Nifty Support levels - 37500/ 37350/ 37200 levls / Target at Upside 37884 and 38000
BankNifty PCR 1.10 Bullish
FII sold net -7094Cr and DII + 4534
1. After US market ended in green and considering 36400 level of 24jan took support and broke the trendline marked, bank Nifty had a bull run despite Nity was in Red.
These situations happen when Nifty is in Red in open and BankNifty in Green. Most of the time when BN shows lot of strength breaking previous pivot highs it has rallied and we saw similar rally today
2. Fib levels drawn and levels marked. I will buy when I see positive bullish pattern at levels and go for higher targets considering option chain shows call writers closing positions at resistance levels
3. But Thursday can be a sideways market based on CPR levels of Thursday therefore some retracement expected before market could move up to 38000 levels. But like I said will wait for Bullish candle pattern at levels.
Bank Nifty Support levels - 37500/ 37350/ 37200 levls / Target at Upside 37884 and 38000
BankNifty PCR 1.10 Bullish
Note
Good Morning Trader FriendsOvernight a lot has happened. US fed has given a hawkish view and thus we see the global screens in Red. And we see SGX Nifty down by alm,ost 300 points
However 300 points down on Nifty does not mean to go Short and sell. No trade in first 30 minutes for cautious anded conservative traders considering it is also a Expiry day. If Nifty 17000 does not break after some time then we can trade basis price action on chart. Cheers
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