Bank Nifty spot 54809.30 by Daily Chart view - Weekly UpdateBank Nifty spot 54809.30 by Daily Chart view - Weekly Update
- Support Zone 53575 to 54175 for Bank Nifty Index
- Rising Support Channel seems back in positive action mode
- Resistance Zone 54975 to 55575 of Bank Nifty Index may act as a strong barrier to cross
- Minor Gap Down Opening of Tuesday would get closure soon, probably over the next week
- Earlier Resistance Zone now seems like getting in the Support Zone role by this weeks closure
Chartsetup
Gold Plan 22/08 – Captain Vincent ( IN )Background
On the H1 timeframe , Gold continues to move sideways within the 3328 – 3350 range, sweeping liquidity again and again, making it difficult for retail traders to spot a clear trend.
Currently, Gold has absorbed almost all liquidity from the Nonfarm FVG .
Therefore, the next price action will largely depend on smart money moves and upcoming news catalysts .
Even though the overall trend is still unclear, we can still build trading setups around these key levels .
🪙 Key Levels
🔹 Storm Breaker 🌊 (Sell Zone 3368 – 3370)
SL: 3376
TP: 3365 → 3360 → 3355 → 3350 → 33xx
🔹 Golden Harbor 🏝️ (Buy Zone 3313 – 3315)
SL: 3305
TP: 3320 → 3325 → 3330 → 33xx
📌 Trading Outlook
On higher timeframes, sellers still hold the advantage .
However, Gold may need to test resistance zones again to confirm.
If price reaches Storm Breaker 🌊 → Watch for reaction and prepare to Sell.
If price drops to Golden Harbor 🏝️ → Strong support remains for short-term Buy opportunities.
⚓ Captain Vincent’s Note
"When the sharks sweep the waves, retail traders panic. But those holding the key level map will always know where the safe harbor lies."
Royal Orchid HotelStock has broken out of a long downward sloping trendline with good volume. Currently volume contraction and consolidation is being seen.
Medium to long term outlook for the stock is 190, with intermediate resistance will be seen at 154 & 172.
View will be negated below 108 on closing basis.
AUROPHARMA BULLISHAurobindo Pharma looks to breakout the trend. Currently there is a resistance at 1010 range and a strong support on volume profile near 940 range. The stock has tested its low and is currently in the phase of its second leg.
If the stock breaks out above 1010 range, buy it with a target of 1050-1100. Keep a stop of 980
Nifty: Important levels from a short term trade perspectiveNifty
CMP 11589
In the current setup, from short term trade perspective, any dips towards 11522 - 11465 zone needs to be watched carefully.
Holding the same will indicate unwillingness of our Market to accept a fall / correction. And probability of Market scaling new highs in coming days will improve.
------------------------------------
Inability to hold the same will signal warning bells but only a close below 11320 levels will open doors for further fall in Nifty up to 10800 levels
Plan your trade accordingly...!!!
Take care & safe trading...!!!