Nifty Bank IndexLong
Bank Nifty: Thursday - 27/10/22
Levels:
Support: 41000, 40810, 40640, 40420
Resistance: 41375, 41630
OI Data:
Highest OI Call in Bank Nifty per OI data: 42000
Highest OI Put in Bank Nifty per IO data: 40500
Nearest Major Resistance in Bank Nifty per OI data: 41600
Nearest Major Support in Bank Nifty per IO data: 40900
Trade setup:
1. For any buy trade, follow the N pattern (let the price run above the level, let it retrace back to the level and let it hold the level as support)
2. For any sell trade, follow the mirror-N pattern (let the price fall below the level, let it pull back to the level and unable to pass through the level as resistance).
3. If Nifty closes above 17820 (the uptrend line in the chart), 18000+ is surely in card.
+++++++++++++++++++++++++++++++++++++++++
Trade | Level | SL | T1 | T2
-----------------------------------------
BUY | > 41200 | 41100 | 41350 | 41450
-----------------------------------------
SELL | < 41000 | 41100 | 40800 | 40650
+++++++++++++++++++++++++++++++++++++++++
Support: 41000, 40810, 40640, 40420
Resistance: 41375, 41630
OI Data:
Highest OI Call in Bank Nifty per OI data: 42000
Highest OI Put in Bank Nifty per IO data: 40500
Nearest Major Resistance in Bank Nifty per OI data: 41600
Nearest Major Support in Bank Nifty per IO data: 40900
Trade setup:
1. For any buy trade, follow the N pattern (let the price run above the level, let it retrace back to the level and let it hold the level as support)
2. For any sell trade, follow the mirror-N pattern (let the price fall below the level, let it pull back to the level and unable to pass through the level as resistance).
3. If Nifty closes above 17820 (the uptrend line in the chart), 18000+ is surely in card.
+++++++++++++++++++++++++++++++++++++++++
Trade | Level | SL | T1 | T2
-----------------------------------------
BUY | > 41200 | 41100 | 41350 | 41450
-----------------------------------------
SELL | < 41000 | 41100 | 40800 | 40650
+++++++++++++++++++++++++++++++++++++++++
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.