A similar scenario on Bank Nifty as that of Nifty 50. It will first retrace to 34,489.60 then fall to 32,858.85, then retrace back again till 33.372.45 and then fall again till 30,689.95. From 30,689.95, it will shoot up to take out 37,712.60
As we analyzed yesterday, BankNifty gave a sell trade today and took a bounce nearby our support level 35600. BankNifty is still in 1000 points range and we may get a big move (1000 points or above) once the range would break. Until now, we can play within that range and tomorrow is the weekly expiry so I am expecting the side ways market until 1:30pm.
As we analyzed sellers are getting active near 36500 levels and we again saw the rejection today. BankNifty is trading in a range and forming an indecision candle for the last 2-3 sessions, we may see a good one side move in this week.
In today's session, our sell trade initiated and we booked 150 points today.
As we analyzed yesterday, BankNifty opened with a minor Gap up, felt, and took support near our level of 34000. Immediately it bounced to 34400 levels and after some time our buy trade initiated and all 3 targets met. For tomorrow, I think we BankNifty would open flat.
Resistance - 35050
Support - 34400
Intraday levels for tomorrow:
Buy Above 34800 for the...
I hope you can now see how BANKNIFTY represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that...
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This is BANK NIFTY
Here the phase is very volatile and we don't have to took long position in bank nifty.
With till it breaks the trend line and then short it.
this is a bear market phase and this is not the recovery this is the bullish trap .
so please avoid yourself to put the long positional trade at this time without any...
COMPARING MY YESTERDAY STATEMENTS WITH REAL MOVE IN TODAY'S TRADING.
1. In last statement point no. 3 of trading plan column quoting for your consideration " bnf has to continue down trend then red upper zone should be intact. on other side if market takes support between two blue area then chances of structure change to up side will prevail." N ow see today's...
COMPARING MY YESTERDAY STATEMENTS WITH REAL MOVE IN BNF TODAY.
1. Before starting this , I would like to share something with you all. As new followers are joining every hour so you need to understand some points so that quest of new comers and satisfaction of genuine seekers can be handled easily in coming days. See My mission is to eradication the ...