#banknifty view for 2nd Aug to 6th Aug'21
Deleted everything from the chart and started fresh for the new month, the view is neutral to bullish, the market in time correction/consolidation, the significant move can be seen after the range breaks.
The view will be changed to bearish below 33,700 only, but don't want to miss out on the next big upmove.
NIFTY 50 EOD ANALYSIS -30-07-21
Open / High / Low / Close
15800.6 / 15862.8 / 15744.85 / 15763.05
Trading Range Low to High: 118 points
Likely Max Realistic Opportunity @ 50%: 59 points
India VIX: 12.8 / -1.16%
FII DII activities: -932 Crores
CHART BASED CONCLUSIONS
The opening candle on the 5 minutes chart was a shocker - almost 80 points and...
SL-2700 - 2730 (on closing basis)
Target - 3200, 3500
- Market structure negative making LH - LL
- Key level of support around 2700-2800
-Trading below all EMA's
- Fib retracement 0.38 zone
- Can se potential W pattern if price holds 2700 levels
- Price is near area of value
- Making a double bottom like pattern in the week
Keep strict SL to...
Following trade is for educational purposes only. An Iron Condor is an option strategy, where the expected outcome for next week is range-bound.
A CE option mentioned below is a European Call Option, while a PE option is a European Put.
A hedger always buys these options and a speculator mostly sells one.
But when the speculator only sells these options, the...
Today will be gap down opening in banknifty. After opening if banknifty started trading below 34450 level then possible further fall of 400-500+ points upto 34000 level. 34000 will act as an important support for today's session. In case breakout of this support gives further downside target in banknifty. Upside only possible if banknifty started trading and...
Bank Nifty likely to open flat and if takes out 34613 on the lower side we can expect it to test out previous session low and we can expect some reversal from there.
In case if that is compromised we can expect it to test weekly support around 34400.
If case if 34613 provides some support then we can again expect Bank Nifty to test out 34850 & higher levels.
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In addition to this automatic support ans resitance lines are drawn so NO NEED to draw it manually as we have very less...
Everyone is talking about the breaching of 200 DMA. But please don't hate it, rather try to find a opportunity. Let's try to look at it from a different dimension.
- It is not the first time it would reach its 200 DMA.
- There is a trendline since 2018 where it has tested the trendline and 200 DMA at the same time, it breaks the 200 DMA at times but comes back...
BankNifty opened with a gap-up and it faced resistance at 34800. We bought 34900 PE at 200 which went to above 350 in just 5-10 mins. We update before market hours that the Market would be negative/unsteady until 11:55 which Market respected and we book profit in 34800 PE twice and 34900 PE. We also bought 34500 CE around 12:00 which also gave good profit....
#banknifty view for 30th July'21
What I said yesterday:="Selling pressure will intensify below 34,373 and lower targets goes till 33,823 to 33,671
Buying will only come above 34,956 and will post fresh view if the closure is above 34,956"
BankNifty is still weak, there is no sign of strength till the time we trade below the gap.
Short Term Analysis is still...