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FASP levels for Bank Nifty 09/02/2023The FASP for Bank Nifty is listed for 09-02-2023 . You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTYShort
by SathishChandrasekaran
BANKNIFTY Intraday Trade Setup For 8 Feb 2023BANKNIFTY Intraday Trade Setup For 8 Feb 2023 Buy-Above 41631 Sl-41520 T-42000 42379 Sell-Below 41095 Sl-41205 T- 40729 40419 BANKLNIFTY has closed on a slight positive note with 0.28% gain today. It is contra of NIFTY due to RBI Monetary Policy which is scheduled tomorrow at 10 AM. Safe traders should trade after 10:30. Till now it is inside the Budget day's range. A hammer has been formed on daily charts. So above its high bullishness may continue. Below its low aggressive selling can be seen. Today it opened and tested buy level but did not trigger. Later sell triggered and gave 150 points gain. Before it was triggered 10 o'clock range was already broken and that gave more than 270 points. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 41631 then we will long for the target of 42000 and 42379. For selling we need a 15 Min candle close below 41095. T- 40729 and 40419. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
1
FASP levels for Bank Nifty 08/02/2023The FASP for Bank Nifty is listed for 08-02-2023. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTY
by SathishChandrasekaran
1
BANKNIFTY Intraday Trade Setup For 7 Feb 2023BANKNIFTY Intraday Trade Setup For 7 Feb 2023 Buy-Above 41550 Sl-41440 T-41779 42000 Sell-Below 41260 Sl-41370 T-41050 40839 BANKNIFTY has closed on a slight bearish sentiment today with 0.3% cut. Overall it just traded at 41400 the whole day as straddle were opened. Today it opened flat and buy triggered as per trade setup but due to huge volatility 110 points sl hit which was recovered on 2nd attempt. Also 10 o'clock range broke downside below 41384 and gave 120 points again which was 1:1. Just like NIFTY it has also formed a range and we will use that to build our trade next day. Comin to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 41550 then we will long for the target of 41779 and 42000. For selling we need a 15 Min candle close below 41260. T- 41050 and 40839. Ext T- 40500. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 6 Feb 2023BANKNIFTY Intraday Trade Setup For 6 Feb 2023 Buy-Above 41540 Sl-41430 T-42000 42550+ Sell-Below 40600 Sl-40710 T- 40350 40050 BANKNIFTY has closed on a bullish sentiment with more than 2% on Friday. Weekly candle has closed almost at 50% of the previous red candle with 2.86% gain. Market is still inside inside the Budget day wide range. So my view as of now is neutral or nothing. We need some more price action for positional view. Currently it is at hourly resistance so if we a proper negative price structure forms then we will look for a sell trade or else sit tight. Intraday trade setups are more considerable than pre analysis. Coming to Monday's trade setup, if index opens flat and a 15 Min candle close above 41540 then we will long for the target of 42015 above that we will trail. For selling we need a 15 Min candle close below 40600. T- 40350 and 40050. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
2
FASP levels for Bank Nifty 06/02/2023The FASP for BankNifty is listed for 06-02-2023 . You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:NIFTY
by SathishChandrasekaran
FASP levels for Bank Nifty 06/02/2023The FASP for BankNifty is listed for 06-02-2023 . You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTY
by SathishChandrasekaran
FASP levels for Bank Nifty 03/02/2023The FASP for BankNifty is listed for 03-02-2023 . You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTY
by SathishChandrasekaran
BANKNIFTY Intraday Trade Setup For 3 Feb 2023BANKNIFTY Intraday Trade Setup For 3 Feb 2023 Buy-Above 40760 Sl-40650 T-41110 41475 Sell-Below 40065 Sl-40180 T-37943 39420 BANKNIFTY has closed with slight gain of 0.39% gain today. It has closed near day which is a bullish indication. This bullishness will continue above today's high. But whenever there is a buy scenario always be very tight in trailing as index is in sellers control from higher TF. Yesterday it was said that I will avoid trading today. As it was sensed that index is likely to trade in a range after huge move. IV spiked yesterday and post implications are either sideway or a dead momentum. It was clearly seen in today's session. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 40760 then we will long. T- 41110 and 41476-41500. For selling we need a 15 Min candle close below 40065. T- 39743 and 39420. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 2 Feb 2023BANKNIFTY Intraday Trade Setup For 2 Feb 2023 Buy-Above 40680 Sl-40560 T-41350 Sell-Below 39400 Sl-39520 T-38750 BANKNIFTY has closed on on a slight bearish sentiment with 0.35% cut. It was just too wild. It has created a range of 6% which translates 2500 points. The range is too big. This is a obvious scenario due to Union Budget. I will personally avoid trading the next tow sessions as the swings are just too big and we will easily be eroded by the tsunami swings. I mean the sls will be too big. BTW the trade setup worked perfectly fine. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 40680 then we will long for the target of 41350. For selling we need a 15 min candle close below 39400. T- 38750. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
FASP levels for Bank Nifty 02/02/2023The FASP for BankNifty is listed for 02-02-2023. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTYShort
by SathishChandrasekaran
BANKNIFTY Intraday Trade Setup For 1 Feb 2023BANKNIFTY Intraday Trade Setup For 1 Feb 2023 Buy-Above 40815 Sl-40700 T-41250 41685 Sell-Below 40470 Sl-40580 T- 39945 39500 BANKNIFTY has closed on a bullish sentiment with 0.66% gain today. It has closed near day high and formed a pinbar in daily TF. Above its high bullish momentum likely to continue and below its low parabolic down move can be seen. Tomorrow is Union Budget and index will move by sentiment rather than technical. However a trend can be established after 12 o'clock. Hourly major swing high and low are 39400 and 40820. Breakout can initiate a move either side. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 40815 then we will long for the target of 41250 and 41685. Ext T- 42350. For selling we need a 15 Min candle close below 40470. T- 39945 and 39500. Ext T below 39400 will be 38755. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
7
FASP levels for Bank Nifty 01/02/2023The FASP for BankNifty is listed for 01-02-2023 . You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTYLong
by SathishChandrasekaran
BANKNIFTY Intraday Trade Setup For 31 Jan 2023BANKNIFTY Intraday Trade Setup For 31 Jan 2023 Buy-Above 40790 Sl-40680 T- 41275 41750 Sell-Below 39410 Sl-41520 T- 39000 38600 BANKNIFTY has closed closed on a neutral note today with just 42 points gain. This was yet another volatile day ahead of Union Budget. Today it opened with gap down of more than 1% and violent mega moves were seen. It opened and shot up more than 1000 points then fell more than 1300 points and then again shot up 1000 points. Budget volatility likely to continue this week. Trade very safely and only when Sls are smaller and RR is perfect. 10 o'clock range broke downside and gave more than 200 points. Tomorrow's closing will be important to see as where it will settle itself ahead of event. However Sentimental effect will be more than technical. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 40790 then we will long for the target of 41275 and 41750. For selling we need a 15 Min candle close below 39410. T- 39000 and 38600. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
FASP levels for Bank Nifty 31/01/2023The FASP for BankNifty is listed for 31-1-2023 . You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTY
by SathishChandrasekaran
BANKNIFTY Intraday Trade Setup For 30 Jan 2023BANKNIFTY Intraday Trade Setup For 30 Jan 2023 Buy-Above 40485 Sl-40375 T-40775 41075 Sell-Below 40145 Sl-40255 T-39845 39500 BANKNIFTY has closed on bearish sentiment last day and last week. Last week was one of the largest weekly cuts in the recent months. It was being updated since last 2 weeks that if in any case index tests the support zones which were created by consecutive hammers in daily TF then index will fall sharply. Even last week it was updated the the previous weekly candle looks a buyer's candle and below its low there can be parabolic down move. So has happed after conditions met. Now we can expect a small pullback of the whole down move before any further fall till 38757. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 40485 then we will long for the target of 40775 and 41075. For selling we need a 15 Min candle close below 40145. T- 39845 and 39500. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
FASP levels for Bank Nifty 27/01/2023 The FASP for BankNifty is listed for 27-1-2023 . You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTYShort
by SathishChandrasekaran
PostMortem on BankNifty Today & Analysis of 25 JAN 2023 Expiry What a day today ! I had to take some for things to sink in. We literally had 3 support & resistance in play today & that should make an amazing post mortem today. The open was inline at 42703 very near to the close yesterday, i was hesitant to go in with a debit ratio spread of 42500/42400 PE 2:4 ratio when it had only 28pts premium. The major reason i didnt take the position overnight was the 15mts chart was showing bullish instead of bearish. Things turned the exact opposite today, right from the open. NSE:BANKNIFTY did not rest until the 2nd support of 41940 was not hit at 10.40. We had a drop of 1.8% ~ 769pts in the opening 90mts. BN didnt stop there, the candle at 11.20 had a fall of 0.85% ~ 358pts - pretty brutal move in 5mts. The 3rd support of 41629 did resolve the matter. Its easy for me to say now, but at 11.30 you should have seen the surge in premiums of PEs that are expiring today. Nobody would believe even if i told you - so let me show you. We were at 42700 during open, so let me show you the surge of 3 option strikes, 42500 PE, 42000 PE & 41500 PE all in 5mts TF Just look at the craziness from these graphs, 42500 PE went up 1726%, 4200 PE 8186% and 41500 PE 6844%. Among this 41500 went back to 0 as it expired out of money. Couple of days back we did discuss about the danger of having low premiums, low VIX. This is what exactly happens - this is the beast NSE:BANKNIFTY is. If we dont play safely our entire year's returns can be wiped out in a day. The other strike prices also did not fail to impress, even 31500 PE which was 26% away from the spot had a rally of 333% - no one was spared today! On the other hand most traders would love to have expiries like today wherein a month's return can be made in a day if we get the positioning right. --- I was referring to the 15mts TF yesterday and said how bullish it looked, but take a look now - its broken the support levels and now that i have to change my opinion. 1hr wasnt having any clarity anyways, so today we have quite near the support levels of the recent swing low on 23 Dec. If we further slip its going to be exciting as the momentum will explode - mainly because of the time we have spent at this range. A breakdown from this level will ensure we have a 2nd leg lower low formation commencement for the trend that started on 14 Dec. Where 04 Jan would be lower high of the 1st leg. There is no point in discussing the NSE:BANKNIFTY components in detail today because the broad based selling did impact every bank except Kotak bank. Today's last wolf standing was Kotak - the chart pattern was not bearish too today. There was also news of Hindenburg research on Adani group & the accusations of Fraud. We all would have read reports on the amount of debt Adani groups has taken - may be this report was sentiment negative for the banks. On a personal note, i have no bias for Adani or its group companies. I dont have any stock or position nor interested to accumulate any of its shares. I personally feel its safe to avoid stocks that are over leveraged. One of the reason i am not tracking Nifty50 or its ETF is because of the presence of some firms like these. Sensex is a better & stable index - unfortunately most of the ETFs & index funds do not track BSE:SENSEX with good volumes as it does Nifty50. To view the 5 charts discussed today, contact @viswaram
NSE:BANKNIFTY
by viswaram
BANKNIFTY Intraday Trade Setup For 27 Jan 2023BANKNIFTY Intraday Trade Setup For 27 Jan 2023 Sell_1- Below 41540 Sl-41650 T-41230 40997 Sell_2- From 42310 Sl-42420 T- 42000 41700 BANKNIFTY has closed a complete bearish sentiment with 2.54% cut. It was complete in selling mode since opening. Market opened flat and a sell triggered below 42615. After it was triggered it gave a nose dive till 41540. It was a a complete parabolic move. Now index has tested the weekly swing low. Below 41540 or 41500 (rounded) it will test 38757. No bullish view till there is any sign of reversal. As of now it is sell on rise. Also budget can shake any side. So be lite on overnight positions although direction is clear. Coming to Friday's trade setup, if index opens flat or gap up and 42310 is tested in then we will plan for a short trade for the target of 42000 and 41700. 2nd scenario- if index opens flat and a 15 Min candle closes below 41540 then we will short for the target of 41230 and 40997. Extended T- 40765. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 25 Jan 2023BANKNIFTY Intraday Trade Setup For 25 Jan 2023 Buy-Above 42825 Sl-42715 T- 43000 43300 Sell-Below 42615 Sl-42715 T-42415 42230 BANKNIFTY has closed on a bearish sentiment with slight cut of 0.21% today. Last day hourly range shifted above 42700 and today it made a high of 43078. Last day it was updated to trail sl to cost which PDL exactly. Today it was triggered;; NPNL. Now fresh bullish range shift in hourly TF will be above today's high- 43100. Today's closing is @ 42733.45. Below today's low it will be back to the hourly range once again. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 42825 then we will long for the target 43000+. Above 43080 it will hit 43300. For selling we need a 15 Min candle close below 42615. T- 42415. Post bounce below 42400 it will test 42200-30. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 24 Jan 2023BANKNIFTY Intraday Trade Setup For 24 Jan 2023 Buy-Above 42870 Sl-42760 T-43017 43300 Sell-Below 42725 Sl-42835 T-42500-30 42297 BANKNIFTY ha closed on a bullish sentiment with 0.74% gain today. BTW this whole gain is contributed via gap up. Today it opened above the hourly resistance 42750 and took support from dot level 42750 and hit 43000 which was our buy target. Overall after gap up opening it traded within 10 o'clock range entire day. Daily candle is a spinning top which is once again a halt candle which is a sign of indecision once again. This has been the case since one week; indecision. This is due to the upcoming Union Budget. Hourly range shifted above 42700. Now support has been created exactly at cost so today's low will be TSL. Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 42870 then we will long for the target of 43017 and 43300. For selling we need a 15 Min candle close below 42725. T- 42500-30 and 42297. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
FASP levels for Bank Nifty 24/01/2023The FASP for BankNifty is listed for 24-1-2023 . You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTY
by SathishChandrasekaran
BANKNIFTY Intraday Trade Setup For 23 Jan 2023BANKNIFTY Intraday Trade Setup For 23 Jan 2023 Buy-Above 42605 Sl-42495 T- 42750 42950 Sell-Below 42470 Sl-42580 T-42215 41990 BANKNIFTY has closed on a bullish sentiment on Friday with 0.42% gain. Last week's candle is a hammer. If index sustains above its high then we will test 42600 and then a fresh ATH in the coming days. Tomorrow's closing is important above 42700 for the upside journey. Since a buyers candle has been formed so below its low there can be sharp selling; parabolic down move. Also there is a swing in weekly TF @ 42550. Breakdown will initiate a downside structure for the short term. Follow strict trailing for tomorrow's session with simple price structure for both side trades. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 42605 then we will long or the target of 42750 and 42950. For selling we need a 15 Min candle close below 42470. T- 42215 and 41990. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto