BankNifty - Can This Be An Explosive Start for 2023?

AbhishekHSinghCMT Updated   
There is a very high degree of risk involved in trading. Past results are not indicative of future returns.

Short Video Outlook on BankNifty
Plan A Active & Running as published in last idea of 2022

Last Idea Published - 30th Dec 2022

Trade active:
7:53 AM / 3rd Jan 2023

Last @ 43202

SGX Nifty Negative 50 at the moment. Bank Nifty Index should hold 42833 lows for the upside push towards 43500-43600

Also note, Index next failing to bounce above 42900/ 43000 incase it opens gap down will indicate that traders have to be cautious.
Trade active:
12:43 Hrs / 3rd Jan 2023

Last @ 43239

Current drop from the highs 43457 to 43187 is currently unfolding & needs some time & more legs to confirm the downside direction.

If Index can hold 43041 which is yesterday's low & critical zone 42900-43000 then we are still expecting upside move for 43500-43600 target zone which will complete the -Plan A as suggested in the idea.
Trade active:
9:15 AM / 3rd Jan 2023

SnapShot 1 - Session Opened Today - Expecting 43500-43600 Target zone

10:15 AM / 3rd Jan 2023

Index tops at 43457 High

By 12:30 PM / 1 PM - Index drops to 43187 Lows - Updated the comment at 12:43 PM ( Check Above) - we are still open for 43500-43600 zone target

SnapShot 2 - 1:15 PM after the comment published showing Index about to turn from 43187 lows

Trade closed: target reached:
Target Reached Almost 43500-43600

Day High - 43480's

SnapShot 3 - Adjusted close 43425 --------- Plan A Done ------ Please check Plan B / PlanC & Plan D as per idea published earlier - " Bank Nifty -Last Move / Idea for 2022

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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