Bank Nifty Intra Day Trade Strategy for 27/7/21

Bank Nifty Trade Setup for 27th July, 2021 –Bank Nifty Closes At – 34,950
Daily time frame – support – 34,400
resistance – 35,350

Upward trendline support - happens to be at 34,400

5 min time frame - resistance at 35,150 and support at 34,850

Sentiment of the Market – sentiment is neutral

Intraday Action for Various Possibilities -
1) Opens Flat -
a) Goes Up- Buy CE only if it crosses 35,050
b) Goes Down – Buy PE if it falls below 34,700

2) Opens with Gap Up -
a) But Below 35,050 - Buy CE only if it crosses 35,150
b) Above 35,050
i) Its going up - Buy CE only if it crosses 35,150
ii) Its going down -Wait for it to bounce back from 35,050 and buy CE when crosses 35,150
if it breaks 34,850 - then no trade till 34,700
and if it breaks 34,700 then Buy PE below 34,700 till 34,400 and beyond.

3) Opens with Gap Down -
a) Above 34,850 - Wait for it to bounce back from 34,850 and buy CE trade above 35,050 only
b) Below 34,850-
Keeps on falling then Buy PE up to a fall of 34,400 support present at 34,700

These Levels are for Safe Playing Traders Only and during Live Trading you can always make profit from Scalp Trading between these levels