As we analyzed yesterday, we opened almost flat and instantly tested yesterday's low. It gave a good rally, initiated our buy trade and we booked 120 points in Future.
We again got another opportunity to sell below 36950 and again booked 100 points on the sell-side too. Overall, good day!
Expectations: Range-Bound Day
Our Buy trade initiated above 34800 as we analyzed yesterday and all targets hit quickly. We already saw almost 5000 points rally in 4 days and weekly expiry is also done so buyers need to be cautious at this level, we have RBI policy tomorrow due to which volatility would be high.
Expectations: Wild swings and overall a negative...
If you observed carefully, BANKNIFTY & NIFTY has performed exactly like last Monday.
Believing the fact that History gets repeated, will BNF can make all time high tomorrow.
Case 1 - BNF opens gap-down and crosses 32100 level, it can go up to 32650 level.
Case 2 - BNF crosses 31820 level, it can retest 31500 level.
The range as shown in the picture is...
Sell BankNifty if sustains below 31000 for the targets of 30900, 30800, and 30700.
Consider buying only above 31500.
I would also try to update the idea during market hours.
InvestPro India Team
We can see market has given a breakout of 15 min range in the end.
Case 1 - Market opens big gap up, comes down, takes support and shows bullish sign then I will go long.
Case 2 - Market opens flat and form 5 min bullish candle above the range, I will go long
Case 3 - Market is within the range and consolidates and breaks down the 15 min range, I will go...
Today will be a gap up opening in banknifty. If it trading above 31000 levels and sustain above this level then we will get the further rally of 300-400 points. Downside strong support at 30650. We will only see a downside if the breakdown of this support.
BankNifty makes a Wedge pattern. If it holds and giver reversal candlestick pattern near the upward trendline and above black horizontal line then you can expect upmove for next week.
In case it breaks the trendline, then do not short BankNifty rather wait for it to re-test the trendline.
1. There is nothing to compare with my Friday post trading plan. Except I shared down trend has changed to up trend as red line was taken out on Friday so trend is upside. It is still going on . Bnf opened gap up and breached swing high. For swing high related update I send in morning for those who carried short...
Nifty Bank reached the target of 20150 with almost no breaks. However, it failed to sustain above 20150 suggesting a supply zone at the resistance level. The negative crossover of Stochastics further confirms a possible minor correction in the coming days up to 19000.
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...
This week Nifty Bank tested the level of 17100, tested earlier on 3rd April. Positive crossover of Stochastics on the hourly chart gives a clear signal to go long (or unwind shorts) for a short pullback towards 18250 odd levels in the coming week. However, the long view is negated if the index fails to sustain above 17800-18000 levels. On the down side, 16100, low...