BANK NIFTY 04-04-2022

Apr 4, 2022

BANK NIFTY 04-04-2022
INTRADAY RANGE 37705-36336

MARKET IS BULLISH AS PER
1). DAILY CPR
2). WEEKLY CPR
3). RSI DAILY
4). RSI WEEKLY

MARKET IS BEARISH AS PER
1). MONTHLY CPR
2). MONTHLY RSI
3). INTRADAY RSI

BANK NIFTY IS CURRENTLY in Previous month naked cpr also intraday rsi and moving averages shows one correction is needed but as we say trend is our friend
Now today we can expect a side ways to up trend market.

so we go for buying opportunities

when to buy
1). when price break down CURRENT DAY CPR and again comes up with sl 15 min close below CURRENT DAY CPR tgt 37470-37700
2). when price break 36335 and comes up above it with sl last swing low below 36335 tgt 37070-37250-37470-37700
3). when market opens GAP DOWN and then crossed above previous day high with sl day low tgt 37470-37700

when to sell
above mention tgt are selling entries if price crossed above this tgt and again comes below this level sell with strict sl 15 min close above this levels

today expectation : sideways to up trend

Apr 4, 2022

Note

BANK NIFTY OPENS ABOVE AUR DAY TRADING RANGE SO WE DONT TRADE BUT HERE WE DISCUSSED POSSIBLES TRADES

1). BUY ABOVE 1ST 5 MIN CANDLE HIGH WITH SL OF SAME 5 MIN CANDLE LOW
I.E. BUY ABOVE 37855 WITH SL 37565 FOR TGT 38560 OUR NAKED CPR WHICH ACT AS RESISTANCE
RESULT TGT SUCESS FULLY ACHIEVED. WITH RISK OF 7250 WE MAY GAIN 24875

2). SELL NEAR NAKED CPR WITH SL 15 MIN CANDLE HIGH CLOSED ABOVE NAKED CPR I.E SELL BELOW 38585 WITH SL 38750 TGT 50% OF TODAYS TREND WHICH IS 38154
RESULT TGT SUCESSFULL ACHIEVED. WITH RISK OF 4125 WE MAY GAIN 10775

3). WE CAN SEE A TRIPLE BOTTOM PATTERN WHICH BREAKOUT BUY ABOVE 38472 WITH SL 38285 TGT DAY HIGH 38744
RESULT OUR TRAILING SL HIT 38625. WITH RISK 4675 WE MAY GAIN 6800