bank nifty is going to 36 k
Hello Friends!
How is everyone!
Bank nifty has taken a strong support at 34,500 levels and we have seen a good come back by the bulls during last one hour of the trading session on Friday. In this we will discuss what will be my trade plan for next week and what all levels to keep in mind while trading bank nifty.
This is bank nifty chart on the one hour time frame. On Friday we closed at 34,800 levels.
Now friends I will maintain a bullish view above 35,000 levels only. The main reason for this is that bank nifty has formed a strong base around 34,500 and 34,400 levels over the last one week and this is zone will now act as a bounce zone for the bulls. Also this is in an important zone of gap zone support for bank nifty over the next one week.
Keeping all this analysis in my mind, I will try to take a bullish trade above 35,000 levels on daily closing basis, then my first target will be 35,500 while keeping stop loss at 34,500 levels as shown on this chart. My positional long will be only above 35,500 levels next week and target will be 36,300 levels.
Between 34,500 to 34,900 levels will be NO TRADE ZONE, in this zone do not trade or you will lose your capital if you take Panga or foolish trades.
Friends, now there is lot of uncertainty in the market. We will keep a bearish view only below 34,400 levels. The overall trend is weak bullish but still I will be ready for a bearish trade also if we break and give a closing below 34,400 levels on the daily closing basis.
How is everyone!
Bank nifty has taken a strong support at 34,500 levels and we have seen a good come back by the bulls during last one hour of the trading session on Friday. In this we will discuss what will be my trade plan for next week and what all levels to keep in mind while trading bank nifty.
This is bank nifty chart on the one hour time frame. On Friday we closed at 34,800 levels.
Now friends I will maintain a bullish view above 35,000 levels only. The main reason for this is that bank nifty has formed a strong base around 34,500 and 34,400 levels over the last one week and this is zone will now act as a bounce zone for the bulls. Also this is in an important zone of gap zone support for bank nifty over the next one week.
Keeping all this analysis in my mind, I will try to take a bullish trade above 35,000 levels on daily closing basis, then my first target will be 35,500 while keeping stop loss at 34,500 levels as shown on this chart. My positional long will be only above 35,500 levels next week and target will be 36,300 levels.
Between 34,500 to 34,900 levels will be NO TRADE ZONE, in this zone do not trade or you will lose your capital if you take Panga or foolish trades.
Friends, now there is lot of uncertainty in the market. We will keep a bearish view only below 34,400 levels. The overall trend is weak bullish but still I will be ready for a bearish trade also if we break and give a closing below 34,400 levels on the daily closing basis.
Trade closed: target reached:
first target reached and waiting for positional target now
lets see tomorrow
lets see tomorrow
Trade closed: target reached:
trades closed all targets hit
