BankNifty Levels

Updated

BankNifty is falling channel now on higher time frame it is still bullish, it has created range of 45200 to 44500 this could consolidate here for a while here before resuming higher side again.Anything above 45100 sustains a 400 points upside move expecting ,Lower side big demand zone is there 44500 to 44300 area look for postive price action here to long.

Important levels to act and trade for Monday
44500,44900,45100 (Areas)

Note

Opened right at Supply zone 45000 area short 44900 target 44800 to 44700 -44650

Trade active

Trade closed: target reached

Note

Second Entry at day low 44700 area to long

Note

As Mentioned in my idea 45100 abvove sustains 400 points upside scope is there

Note

400 Points Captured

Note

Today 18/07/2023 could be a sideways to bullish move expecting ,Important levels are 45350,45600. Wait for 1 hour to make range then play

Trade active

Bank Nifty made double top in 5 mins time frame second top is lower than first went short day high stop loss
.

Trade closed: target reached

Booked profit at my support level 400 points

Note

For Wednesday mark last hour high and low levels which are 45500 and 45300 areas if opens flat breaks any of them will fetch 200 points,Important levles to watch for 45700,45500,45300,45100-45000

Note

First Entry long as mentioned above in my idea last 1 hr of prior session high entry with stop loss day low kept few points buffer

Note

No momentum today

Note

Scrapping it exiting no momentum 40 points premium loss today

Note

Tough day for option buyers

Note

Bank nifty made a narrow range today for expiry range break out above or below play will give nice ride, do not enguage in today range only break out trade will benefit.

Levels marked with arrows above and below for targets

Trade active

Breakout out of range ,opened at high of yesterday range made double bottom and held after a doji in 5 mins time frame my entry long

Trade closed: target reached

Target done

Trade active

44700 CE Entry

Trade closed: target reached

44700 CE Exit 150 Points captured

Note

All targets acheived above

Note

Friday levels to act and trade 46300 and 46000 area, Any reversal from 46300 area play till 46000. Look for positive price at 46000 area to go long again to 46270-46300.

Note

If breaks the range above or below target for marked arrows in the chart above.

Note

Failed to go above back into range again of last 1 hour of yesterday ,with Nifty is not supporting entered 3 rd candle below to target 46000 to 45900 area

Trade closed: target reached

250 points trade closed

Note

Second Entry near 46300 area as mentioned in idea for today

Note

Exit near day low 46000 area 210 points

Closing this idea here will come with new for next week thank you everone who ever supported my idea

rakeshreddym

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