bank nifty analysis for 04 Aug 2022
As per my strategy, we have 2 scenarios for bank Nifty for the 4th of august 22.
1st: The market will open with a gap-up of 100 to 180 points with price range of 38137 to 38196. If this happens, we can wait and watch for the 1st 5 mins candles, if we get the bearish candle. It means the profit booking of the market is being initiated so it will be a clear sign for us to book our own profit.
2nd: If the market opens near the previous closing price(up or downside), then we will wait for the market to take support of the 37880 level. If the market takes support to this particular level then we will enter the market by seeing at a very strong bullish confirmation candle and we will go to the upside.
My apologies guys, my mindset is totally towards the bullish side tomorrow, because I can see that the global market is strongly positive.
viraj Tiger
1st: The market will open with a gap-up of 100 to 180 points with price range of 38137 to 38196. If this happens, we can wait and watch for the 1st 5 mins candles, if we get the bearish candle. It means the profit booking of the market is being initiated so it will be a clear sign for us to book our own profit.
2nd: If the market opens near the previous closing price(up or downside), then we will wait for the market to take support of the 37880 level. If the market takes support to this particular level then we will enter the market by seeing at a very strong bullish confirmation candle and we will go to the upside.
My apologies guys, my mindset is totally towards the bullish side tomorrow, because I can see that the global market is strongly positive.
viraj Tiger
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