BANKNIFTY 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...
41950 to 42022 resistance
40950 to 40982 support
suppose market open 41950 to 42000 immediatelly sell okh
suppose market open 40950 to 41000 buy only
suppose market open previosely closeing price wait for price action okh
Banknifty View and Support & Resistance Levels for Monday..
Expectation : Banknifty looks BULLISH for short term
Monday if any Flat/Gap down open, incase of any pull back to 41216 - We can look for BUY entry for Target 42000 Supply zone. Any breakout above 42011, 42500 / 43000 will be tested slowly.
Incase of weakness and closes below 40988, SELL pressure will...
SGX nifty indicates a positive start. The market nature is moderately bullish. It may start with a gap-up. After that, if the market takes a minor correction, that's a sign of pullback continuation, it will reach 61 to 78%. On the other hand, if the market rejects sharply around 61 to 78 then we expect correction continuation. It should break fib level 38%.
The 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...
Today will be a gap up opening in BANKNIFTY . Expected opening below 40950 Level. After opening possible further downside of 400-500 points from 40950 level upto 40550 level. And this can extend for another 400 points if it gives breakdown of 40450 level. Any Bullish rally is only expected in case banknifty starts trading and sustains above 41050 level.
NSE:BANKNIFTY opened gap up at 41019 much above the resistance level of 40869, the gap would have been because of the excellent hand out from the US markets yesterday. SP:SPX & NDQ had outperformed with good gains.
Our gap up did not sustain though, we fell 1.61% from 09.30 to the support zone 40700, with a LOD of 40609.
From this support zone there was a...
BANKNIFTY 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...
SGX nifty indicates a negative start. Market nature is bearish. It may start with a gap-down. After that, if the market takes a pullback without breaking the previous day's low, then we expect minor consolidation to pull back. On the other hand, if the initial market takes a sharp correction, that's a sign of correction continuation.
Expectations: Volatile day
Intraday Levels:
Buy Above - 40720
Sell Below - 40400
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The SGX nifty indicates a positive start. But today we have an important event and that is the Union Budget. It will start around 11 am. So most likely the market will act based on this phenomenon. There I prepared chart based on Elliott wave on hourly chart. It might work. But take your position a bit more carefully.
Today will be a gap up opening in BANKNIFTY. Expected opening above 40550 Level. After opening if banknifty sustain above this level then possible upside rally of 400-500 points upto 40950 Level. And this rally can extend for another 400 points if it gives breakout of 41050 level. Any Major downside only expected in case banknifty starts trading below 40450 level.
Bank Nifty form Rectangle Chart Pattern and after creating 42700 Resistance or 41800 Major Support
Its go up through creating trendline support and Giving GapUp beyond 42700 Hold 2 Sessions on Upper level with breakking out Trendline…..
If Tomorrow which is Month End Expiry HOLD 42700 levels AtLeast 15Candle on upper levels we can se Up Rally or if it BreakDown...
The 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...
Bank Nifty has formed a text book breakaway gap which is taught in text books .
Here in this video you will learn where the smart money would like to enter short once again .
Follow @piyushrawtani for more trading videos .
Cheers!
Writing about what happened today is one thing, being alive as a trader after watching each 5mts candle - priceless!
After what happened today, i am almost 100% certain that my report will not holistically include all the information there is. Let me still try !
Gap up opening at 41115 above the resistance level 40868, till 12.15 we literally did go...
The 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...
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