Bank nifty 21-Sep to 25-Sep
BNF may trade in a zone of 22750 to 21900. Breaking the lower zone of 21900-21800 will lead to 21600-21500. Upper zone of 22750-22850 would be acting as resistance. Breaking 22500 and sustaining above will change things completely for a target of 22700, 22900 & 23000.
Trade active:
21-Sep-2020: 21:00:
Both the lower zones 1 & 2 are broken as the global markets fall. Since the fall continues I think the next support zone is 21100 - 21000 and if that is breached the next support zone is 20750 - 20650. If the above 2 supports are breached then it will lead to a trend change as the long term support zone gets breached.
Both the lower zones 1 & 2 are broken as the global markets fall. Since the fall continues I think the next support zone is 21100 - 21000 and if that is breached the next support zone is 20750 - 20650. If the above 2 supports are breached then it will lead to a trend change as the long term support zone gets breached.
Trade active:
23-Sep-2020: 16:35:
Today 20850 was tested and it forced to another rally due to short covering. Accumulation and or supply zone in the morning was 21200 - 21300. Tomorrow is expiry, DOW is recovering if there is a gap up above 21350 - 21400, then the 21300 will be tested and it may move up. No major support from PUT writers which is not helping the move up. Below are the zones for tomorrow:
Upper zone: 21500
Lower zone: 21100 - 21250
Today 20850 was tested and it forced to another rally due to short covering. Accumulation and or supply zone in the morning was 21200 - 21300. Tomorrow is expiry, DOW is recovering if there is a gap up above 21350 - 21400, then the 21300 will be tested and it may move up. No major support from PUT writers which is not helping the move up. Below are the zones for tomorrow:
Upper zone: 21500
Lower zone: 21100 - 21250
Trade active:
24-Sep-2020: 08:40:
Dow fell over 500 pts and its going to have an impact on Nifty / Bank Nifty. SGX Nifty is down by 100 pts. Below are my options:
1. If there is a Gap down and 21100 - 21000 is not broken in the initial 15 mins then it would be move towards the 21200 - 21300 zone and then it would come down heavily with volume in the later part of the day.
2. No gap up/down, then it would start moving towards the 21100 zone and then it would be taken down with volume.
First 15 mins is going to be the decider. Breaching 21500 is a tough task at this moment, but bearish move is possible.
Dow fell over 500 pts and its going to have an impact on Nifty / Bank Nifty. SGX Nifty is down by 100 pts. Below are my options:
1. If there is a Gap down and 21100 - 21000 is not broken in the initial 15 mins then it would be move towards the 21200 - 21300 zone and then it would come down heavily with volume in the later part of the day.
2. No gap up/down, then it would start moving towards the 21100 zone and then it would be taken down with volume.
First 15 mins is going to be the decider. Breaching 21500 is a tough task at this moment, but bearish move is possible.
