Today will be gap up opening in banknifty. After opening if banknifty started trading above 38050 level then expected strong upside movement of 400-500+ points in banknifty. Downside only possible if banknifty started trading above 37950 level. For today's session 37550 will act as a strong downside support.
EXPLANATION : This is a 30 min time frame chart of BANKNIFTY . It has been in a consolidate for days and taking support from trendline & demand zone , If give a strong breakdown and broke its Demand zone with high volumes and retest the same , I am bearish on BANKNIFTY . Always be extra cautious with breakout trade with confirmations .
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Bank Nifty Trade Plan for 05 OCT 2021
Bank Nifty likely to open gap down.
The immediate support for Bank Nifty would be around 37300 zone, if that is compromised we can expect Bank Nifty to test 37126 levels.
In case of this support of 37100 getting compromised we can expect it to again test 36900.
If 37126 holds good and sustains then we can expect a pull...
Bank Nifty Trade Plan for 04 OCT 2021
Bank Nifty traded in a very narrow range in the last session and managed to close above the next day CPR levels showing some signs of pull back.
Bank Nifty likely to open with a small gap up opening.
37342 is the first resistance to watch out, if that is taken out successfully we can expect Bank nifty to find resistance...
BN managed to close on the bullish node.
Global markets are kind of in a neutral sentiment and Dollar index is on rise which is of little bit of worry.
BN formed an inside day bar today and we can expect some breakout moves in coming days,
tomorrow being monthly expiry and if market opens with the yesterdays range and fails to takeout the previous day high then...
Expect Bank Nifty to open gap down.
Global weakness withnessed in the last trading session and expecting nifty to open gap down.
Key levels on the lower side to be watched out are Bullish Reversal of 37653 and 37361 levels, Any of the these levels compromised on the lower side we can can expect BN to test out Target 1 and Target 2 (37 K levels).
If that is...
Expect a small gap up opening in Bank Nifty.
Bank Nifty is comparatively weaker then Nifty and also closing below the next day CPR levels.
37200 is a very strong resistance for BN , if that is taken on the upside and sustains then we can expect a possible upmove.
Any resistance around 37200 we can expect BN to again test yesterday lows and lower.
Bank Nifty likely to open flat to small gap up.
Still much room for correction in Bank Nifty, 37350 levels - CPR will act as a strong resistance fro Bank Nifty.
If CPR is giving resistance we can possibly look for again some selling and we can expect 36944 & Bearish Break out zone of 36741 levels to be tested.
Bank Nifty expected to open gap up.
Bank Nifty looks pretty bullish, we can expect some possible profit booking today.
Any pull back to support zone of 37445 levels will be a buying opportunity today. After such a big rally yesterday we can expect a possible range bound move, in case if previous closing price sustains and forms
a support then we can again expect...
Bank Nifty likely to open with a small gap up.
Any support around CPR 36730 range is a buying opportunity and we can expect first resistance around 37000.
If 37000 is taken out we expect 37101 as next target and higher Target 1 & Target 2.
if Bearish Reversal zone 37000 holds good then we can expect a range bound move today.
Bank Nifty expected to open flat.
Narrow CPR in Bank nifty expecting some volatality. Last 2 trading sessions were very much range bound. The previous session closing is below the current day CPR and hence the current CPR should act as possible resistance.
The first immediate resistance is 36763 and if that is taken out we can expect 36843 to be tested...
Expecting a flat to small gap up opening in case of Bank Nifty.
Bank nifty traded pretty bullish the yesterday session and closed above next day CPR.
In case of Bearish Reversal zone of 36895 is taken on the opening and find support we can expect Banknifty to again test out Bullish Breakout zone of 37022 & Target 1 & Target 2.
In case if the open is flat and...
Bank Nifty closed below the next day CPR and showing some kind of selling pressure.
36920 is the first resistance to be watched out, if that is taken on upside we can expect Previous day high to be tested and higher targets as marked.
Any rejection around this Bearish Reversal Zone we can expect it to test Previous session closing and then 36600 .
Bank Nifty expected to open in yesterday Range.
Narrow Ascending CPR looking for some good move today.
If CPR is sustained on opening and PDH is taken on upside then we can expect to test 36600 levels and higher.
In CPR is compromised and even expect it to retest PDL & may be even 36k.
Bank Nifty too looks to open with gap up.
On gap up opening above 35830 and support confirmed we can possible expect Target 1 & Target 2.
36000 is a strong resistance if taken out we can expect extended targets.
Any rejection confirmed around these we can look for possible reversal trade today.