BANK NIFTY - 15 MIN CHART -22.08.2022 - BAHAVAN CAPITAL
BANK NIFTY as per 15 minutes Chart with price action taken into consideration.
If there is a Gap down opening below 38902 then Support at 38648 / 38389 / 38156 / 37786
If there is a Gap up Opening above 39000 then Resistance at 39187 / 39304 / 39401 / 39599
Below follows my observation
Thursday FII Net Selling was 1706 Crores and DII Net Buying was 470.79 Crores. When the Market Fell on Friday Forming Bearish Engulfing. I was expecting the Bearish turn around should be because of FII again and heading towards another correction but surprisingly DII Net Selling was 1633.21 Crores and FII Net Buying was 1110.90 Crores.
FII Net Buying for this month as on 19.08.2022 is 17970.62 Crores and DII with Net Selling at 6052.67 Crores.
So there may be a weakness for a day or another and then market may reverse for uptrend. Does this mean there will be no correction? However Monday FII and DII data will give more clarity
Monday as per 15 minute candle chart if its uptrend then looking at the price action it might be difficult to trade. Only if its Gap Down or Down Trend then there are possibilities to trade
Happy weekend and Happy Profitable Trading to all......
If there is a Gap down opening below 38902 then Support at 38648 / 38389 / 38156 / 37786
If there is a Gap up Opening above 39000 then Resistance at 39187 / 39304 / 39401 / 39599
Below follows my observation
Thursday FII Net Selling was 1706 Crores and DII Net Buying was 470.79 Crores. When the Market Fell on Friday Forming Bearish Engulfing. I was expecting the Bearish turn around should be because of FII again and heading towards another correction but surprisingly DII Net Selling was 1633.21 Crores and FII Net Buying was 1110.90 Crores.
FII Net Buying for this month as on 19.08.2022 is 17970.62 Crores and DII with Net Selling at 6052.67 Crores.
So there may be a weakness for a day or another and then market may reverse for uptrend. Does this mean there will be no correction? However Monday FII and DII data will give more clarity
Monday as per 15 minute candle chart if its uptrend then looking at the price action it might be difficult to trade. Only if its Gap Down or Down Trend then there are possibilities to trade
Happy weekend and Happy Profitable Trading to all......