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InvestPro_India
Aug 2, 2021 2:05 PM

Bank Intraday Trade Setup | 3rd August 

Nifty Bank IndexNSE

Description

BankNifty opened with a gap-up and faced resistance in the 34820 zones, it spent almost the whole day in 15 points range which was broken on the downside and we saw a good fall in BankNifty.

We did sell BankNifty Fut at 34980 which made a low around 34680, booked great profit on the sell-side.

Expectations for Tomorrow: Volatile day.

Intraday Levels:
Buy Above 34900
Sell Below 34590

To motivate me, Please like the idea If you agree with the analysis.

Happy Trading!

Trade closed: target reached

Breakout from triangle pattern and sustaining above 34900 gave great profit to Fut and CE Buyers.
Comments
amazedstar6587
You mean, bank nifty is expected to fall tomorrow so we should buy in PE but around what rate? And what is expected rate ro sell?
InvestPro_India
@amazedstar6587, would post the trade during market hours tomorrow.
gharishh02
Sir try to give some tips to trade safely in banknifty it would more helpful to us and our support are always there for you sir
InvestPro_India
@gharishh02, we do provide 1-2 trades in the Public channel, today we suggested buying 34800 PE around 280 which went to above 380.
amazedstar6587
@InvestPro_India, hey, do you similar information for tomorrow?
tbgokani
Sir, You told this: Buy Above 34900, Sell Below 34590: Also there is a triangle pattern so once it breaks triangle any side, And start taking support on that trend line(So to watch 2 candle : 1 bo and 2nd taking support or directly going upwords) can i take trade on that side?
InvestPro_India
@tbgokani, this pattern requires technical expertise to trade, if you have can trade.
InvestPro_India
@tbgokani, See how perfectly BN is following the triangle pattern.
tbgokani
@InvestPro_India, Yes i entered after bo and retest. Seeing what happens next. I took 34800CE, Do you think it will break 34850 level?
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