Looking at the price action i had given a sell short call yesterday - read here
I had to literally change the view looking at just the first candle. A mega green 5mts candle that took bank nifty 172+ points & above the swing high of yesterday. The rally did not stop until 11.05 creating a steady buying momentum.
From 11.05 to close of day it was a slow fall back...
Bank nifty broke out and made an all time high of 43163 today. The opening was at 42838 negating yesterday's fake price move from 15.00 to close.
Notice how yesterday's rally continued with the yellow encircled region. Today's open and forenoon trade was in perfect alignment with the rally that started yesterday.
Since its a breakout rally - the momentum was...
To provide you the precise information of Price action . I daily predict Bank Nifty . This marking provides you the depth of prediction shared one day back. For tomorrow's price action, can be seen below.
This charts shows prediction made for today's trading. On dot support and resistance can be seen in price action of this index. For detail analysis on this price action and tomorrow's prediction can see below. My aim is making your trading easy. Rest your understanding of price action.
As usual the marking and prediction about price action was dot on 7-11-22 shown in posted chart . For more details what is going to happen on 9-11-22 check below. This will definitely erase all confusion in taking entry and exit.
Quite an eventful day today, Banknifty opened mega gap up at 41740 crossing 2 resistance levels in a single go (41314 & 41459). The first candle was red but with a long wick on the bottom - indicating that the opening trade was favoring the buyers.
The major reason for the gap up was SBI which published good results this quarter.
There was a decent fall till 11.25...
Every trader wants to be sure about their trades. Hope these predictions which I made one day ago the trading session would help you to get required confidence in your trades. For more details (below).
Banknifty opened right at the support/resistance level of 41314 touched the next resistance level of 41455 in the first candle. The 3rd candle showed a bullish tone when i thought BN took support at 41314 and rallied again to 41455, but over the next 2 candles BN gave away that hope.
By 09.40, bank nifty had dropped below the SR level and traded the entire day...
Bank nifty moved today quite contradictory to the global moves. Frankly what is happening to India's banks - is there so much positivity to bury the global macros ?
S&P500 down 2.5&, Nasdaq100 down 3.39% and our bank nifty up 0.37% today
Just look the opening 4 candles. Gap down opening at 40873 very near to the support level of 40867 - hits the resistance level...
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IMPORTENT ZONE FOR THE DAY : 41286 - 41350
Possibilities of Today market open...
Possibility 1: FLAT
If market open as a FLAT and moves to UP-SIDE then BUY with the Support of W_O and SELL with the Rejection of !H_RH.
If market open as a FLAT...
This is the predictions of Marking Given yesterday For Today's trade . For more details on today's price action and for tomorrow's check below. This is small bit from my side to make your trading easy and simple with prior information.