Expiry Special BankNifty Analysis| Hero Zero Trade will be @1:15
Good Morning Traders,
Guy's BankNifty has formed a long bearish candlestick pattern on daily chart. It has broken important support zone of 44500 levels. we have seen almost 547 points correction from day's high of 44780 and closing with Minus 263 points at 44233. Index is showing clearly downward moment, its next significant support on the downside is positioned at 44000. This levels is crucial, given the substantial open interest build up on the put side. Now Market sentiment has become bearish, with considerable resistance anticipated around the range of 44500 to 43700 levels.
Guy's broader market maintained outperformance with positive breadth in the ratio of 3:2.
We will act according to price action only.
Today's Important levels.
Support zone 43700
Resistance zone 44400
Buy only when it crosses for above 44450 levels and sustains at least for 30 Mints,
Then Targets we can see in upside 44674/44890
Keep stop loss at 44143
Sale below 44143, if levels sustains at least for 30 Mints.
Targets will be in downside 43942/43761
Keep stop loss at 44450
Note:- Hero Zero Trade will be in 2nd half somewhere 1:15pm. So, we will update in afternoon according to price action, so stick with us and follow us to get notity at right time. Till then enjoy but don't overtrade and Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thankyou.
Guy's BankNifty has formed a long bearish candlestick pattern on daily chart. It has broken important support zone of 44500 levels. we have seen almost 547 points correction from day's high of 44780 and closing with Minus 263 points at 44233. Index is showing clearly downward moment, its next significant support on the downside is positioned at 44000. This levels is crucial, given the substantial open interest build up on the put side. Now Market sentiment has become bearish, with considerable resistance anticipated around the range of 44500 to 43700 levels.
Guy's broader market maintained outperformance with positive breadth in the ratio of 3:2.
We will act according to price action only.
Today's Important levels.
Support zone 43700
Resistance zone 44400
Buy only when it crosses for above 44450 levels and sustains at least for 30 Mints,
Then Targets we can see in upside 44674/44890
Keep stop loss at 44143
Sale below 44143, if levels sustains at least for 30 Mints.
Targets will be in downside 43942/43761
Keep stop loss at 44450
Note:- Hero Zero Trade will be in 2nd half somewhere 1:15pm. So, we will update in afternoon according to price action, so stick with us and follow us to get notity at right time. Till then enjoy but don't overtrade and Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thankyou.
Comment:
Stop Loss got hit
Best Regards,
Rahul Pal
(Full Time Trader & Investor)
Join Free telegram t.me/TraderRahulPal1
Contact us for High Accuracy above 85% Paid Trading Advisory & Portfolio Management Services & Learning Programmes.
Whatsapp:- +919560604457
Rahul Pal
(Full Time Trader & Investor)
Join Free telegram t.me/TraderRahulPal1
Contact us for High Accuracy above 85% Paid Trading Advisory & Portfolio Management Services & Learning Programmes.
Whatsapp:- +919560604457
Related Ideas
But market already have given a move
but okay we will take a trade for bearish side.
Take 43900 Pe now at 37
Keep stop loss at 11
Targets we can see 65/82/99/125++
Please take less qty only,
Thankyou