Overview: Bank Nifty opened flat, took support exactly at our mentioned levels of 34893 and started to trade upside, later in 2nd half market fell sharply after testing the resistance zone and due to the European market fall BNF corrected to 34750 levels.
As below 35000 levels, we must have got a very good shorting opportunity.
Banknifty resistance level:...
NIFTY 17-06-2021 EXPIRY PLAN
1.TRADING IN CHANNEL
2. TOUCHES THE UPPER END OF CHANNEL
3. NOW MAKING LOWER HIGH
4.HUGE OI ADDED IN 15800CALLS
5.WE CAN EXPECT THE LOWER END OF CHANNEL TO TOUCH
6.15800CE PRICE AROUND 40.
7.IF MARKET OPENS INBETWEEN 15826-15755 WE CAN SELL 15800 OR 15850CE WITH ABOVE SL OF 15826 ABOVE CLOSING
8. IF MARKET OPENS BELOW 15755 WE CAN...
here you can see the support and resistance zone on chart. banknifty may take support and will show us a trend reversal and targets for long position are 35700 and stoploss is below support zone. on 5m time frame banknifty shows a inverted head and shoulder pattern.
CONTINUATION TO IDEA POST OF HOURS AGO 🕵️♀️
VIEW ON CLOSE 👉
INDEX TOO DIDNT JUMP OFF THE TRAIN
TOOK STOPPAGE (CLOSED) @ THE SUPPORT STATION (TRENDLINE)
WILL THIS TRAIN TAKE A U TURN N GO DOWN TOWARDS KANYA KUMARI OR RUN UP TOWARDS KASHMIR ???
🤦♂️THIS CLOSE MAKES IT MORE INTERESTING EXPIRY DAY 🤦♀️
BELOW IS THE PREVIOUS CHART FOR REFERENCE...
Nifty Sucees Story Expiry Day
AS i told you yesterday ..in case of gap up opening will buy 11300 ce and sell 11400 ce.
bought 11300 CE @ 67 make high 125 booked @ 119. Rs 52 per lot
sold 11400 CE @ 13.30 make high of 37 sold @ 31.
loss per lot is Rs 18.
i put Stop Loss around 11350 and bought 11300 ce 8 lot and sold 11400 CE 10 lot.
AS PER THE FUTURES DATA OF ORDERFLOW THERE ARE NET SHORT POSITIONS ON CLOSING INDICATING SOME BEAR SIGNS.
NIFTY HAS A HURDLE AREA OF 11180 AND 11240 LEVELS ABOVE WHICH (IF BROKEN) CAN TEST 11280-11300 LEVELS.
ON THE DOWNSIDE A SMALL SUPPORT OF 11065-11080 LEVELS AND A STRONG PSYCHOLOGICAL SUPPORT AREA 11000-11020 AREAS IS VERY CRUCIAL FOR THE...
BANK NIFTY ANALYSIS
AS PER THE FUTURES DATA THERE ARE NET SHORT POSITIONS IN THE MARKET AT CLOSING INDICATING SOME BEARISH SIGNS.
THE IMPORTANT LEVELS WERE ALREADY SHARED I.E 21100-20900 LEVELS WHICH IS STILL A VERY IMPORTANT LEVEL, HOWEVER MARKET BROKE THOSE LEVELS TODAY BUT IT GOT PRICE REJECTION AND MARKET BOUNCED SHARPLY UPSIDE AND CLOSED AROUND 21300...
TREND ANALYSIS & TRADE SETUP !
FLAG PATTERN !
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for entry setup, if available then Long/short.
Reward is 4-5 times .
Nifty - Technical Analysis:
-Benchmark index NIFTY traded positive today as it continued yesterdays move and moved upwards to 11600
-We are near the resistance zone and tomorrow can be decisive for further trends
-Tomorrow is expiry day and we can see some volatility
Market - Driving Factors:
-Among the sectoral indices, BSE Realty, Healthcare, IT and Auto...