Bank Nifty Analysis 04-08-2022 (Pre-Open)NSE:BANKNIFTY
Bank Nifty is expected to make a surprise upside today with lot of unwinding pending for expiry day.
Trade Setup : (ALL CASH LEVELS) one can take action in Futures & Options accordingly
Buy Bank Nifty around 37900 with stop loss at 37700 (initial stop) for upside potential targets of 38500. Small resistance around 38250 on the way up.
Just in case if Bank Nifty opens above 38000 then wait for retracement below 38000 and then enter the trade with Stop loss.
Overall Trend for the day is Highly Bullish. No shorts at all :) from my perspective.
Do Comment , share and "LIKE" if you find this info valuable to use .
Attached below few Related Ideas posted under my profile in recent time.
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 your losses arising of above shared info
Comment
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took perfect resistance as expected in zone .... now One can enter around 38050-38100 Range with SL @ 37850 intraday only for given upside targets cmp:38080 (cash levels)
Good assessment, but if you have provided rationale for your view ,it would have been educative.
Chintamoney
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@kothamachusivaiah, Pre-Opening Rationale is highly speculative in Nature and may not work post opening :) . It is wise to enter the day known risks and plan to counter them (with stop loss) and trade in the direction of the trend . My Analysis is mostly related to Fib-Fans ,Gann ,Time Cycles etc and there is not much scope for me to present it on chart as it will consume most of the space and it will clutter all price points without significant view :) . But as u stated will try to put few charts (not analysis) for educational content soon :) ..