Bank Nifty 38,800 Levels Soon ?
Hello Guys and Girls,
I hope everyone is doing well!
Last week again friends we shared in our analysis that the bank nifty for July expiry will expire above 37,300 levels and we closed above 37,500 levels on the chart. we had been sharing that second half of July will be for the bulls and In July the low of bank nifty was 33,100 and Expiry was above 37,500 levels.
So, friends a gains of 4000 points in the month of July. Now why I am telling this to you?
Friends, most of you tried to short the market that the market will reverse and bought PUTs but got trapped despite telling you always that stay with the trend and follow the levels we share as per our trade plan.
So, now forget the past mistakes and watch this video till the end and see what all I will be trading next week and what will be my trading plan.
This is Bank Nifty chart on the daily time frame. For the next week I will maintain a bullish outlook for the bank nifty with preparation for the bearish trade setup also as per these levels on the chart.
Next week, I am expecting that bank nifty will hit 38,100 levels. Here at this 38,000 levels bank nifty is likely to consolidate and will trade around these levels. The stop loss for my bullish trade setup will be at 37,050 levels for a target of 38,100 levels.
Yes, I will keep a close watch on the trend and of the bulls give a good momentum above 38,100 levels which is zone of resistance then my target for next week bank nifty will be 38,800 levels.
I will take positional longs and trail my stop loss for the given targets. But, bulls have to break 38,100 levels for further uptrend.
Now second possibility, in case we face resistance and bank nifty breaks down after a positive opening what will I do ?
Friends in case of bearish scenario, I will only enter short trade below 37,100 levels for the target of 36,300 – 36,200 levels.
Remember, I will only enter bearish trades below 37,100 levels on daily closing basis. Till then we will maintain a bullish outlook for the bank nifty.
I hope everyone is doing well!
Last week again friends we shared in our analysis that the bank nifty for July expiry will expire above 37,300 levels and we closed above 37,500 levels on the chart. we had been sharing that second half of July will be for the bulls and In July the low of bank nifty was 33,100 and Expiry was above 37,500 levels.
So, friends a gains of 4000 points in the month of July. Now why I am telling this to you?
Friends, most of you tried to short the market that the market will reverse and bought PUTs but got trapped despite telling you always that stay with the trend and follow the levels we share as per our trade plan.
So, now forget the past mistakes and watch this video till the end and see what all I will be trading next week and what will be my trading plan.
This is Bank Nifty chart on the daily time frame. For the next week I will maintain a bullish outlook for the bank nifty with preparation for the bearish trade setup also as per these levels on the chart.
Next week, I am expecting that bank nifty will hit 38,100 levels. Here at this 38,000 levels bank nifty is likely to consolidate and will trade around these levels. The stop loss for my bullish trade setup will be at 37,050 levels for a target of 38,100 levels.
Yes, I will keep a close watch on the trend and of the bulls give a good momentum above 38,100 levels which is zone of resistance then my target for next week bank nifty will be 38,800 levels.
I will take positional longs and trail my stop loss for the given targets. But, bulls have to break 38,100 levels for further uptrend.
Now second possibility, in case we face resistance and bank nifty breaks down after a positive opening what will I do ?
Friends in case of bearish scenario, I will only enter short trade below 37,100 levels for the target of 36,300 – 36,200 levels.
Remember, I will only enter bearish trades below 37,100 levels on daily closing basis. Till then we will maintain a bullish outlook for the bank nifty.
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