1) CE- 42560/42700
Check 4hr time frame and look at candles -Mostly Red candle to be expected -
Looks Good to buy PE......
4 2350 works as support and resistance - Considering this level take entry in market. NSE:BANKNIFTY
Consolidating near 43400 levels for somedays now. Any closing in 1HR above 43500 will provide a rally upto 44000-44150
Post-entry, can keep SL of any closing in 1HR below 43300.
43200 CE @ 380-390, Should have a good value if the setup is triggered
There is a possibility of breakout in upside in FinNifty as it has already broke the bearish trend line and taking support of bullish trend line, currently it is trading above the neckline support.
One can go bullish once it starts trading above 19100-19110 levels, target would be 19300.
The above analysis is only for education and research purpose
As discussed early in the morning I am sharing an update of my trade. I have taken 42900 PE at 46.21 with the view of Hero or Zero. minimum target is double then where ever it reach. when it will reach to 95 my TSL will take place at 70.
Glad yesterday’s short call worked on bank nifty — read here. The price action formed today is an extension of what was happening yesterday. Apart from the big opening red candle — the rest of the movement is in continuation.
Price action of bank nifty index in 5mts chart
Speaking of the first candle — it was a story by itself. Gap up opening at 41472 also...
Trade with Support & Resistance Levels
Support Zones For Nifty Expiry Day Trading
First Support Zone For Nifty – 17607 – 17615
Second Support Zone For Nifty – 17538 – 17550
Third Support Zone For Nifty – 17467 – 17476
Resistance Zones For Nifty...
The index has found support near 17300 and there seem to be a hesitation from the market participants to take the index above 17800 in the short term. We expect a decisive move giving directional clarity only if the index manages to close above 17860 or below 17440. Today being expiry, the index can remain range bound. Trading at the boundaries, expecting mean...
For nifty 50 =
17630-635 is a level where price rejected multiple times, so if price price gives a breakout at 5 min. chart, one should buy call option.
Reasons for continuation-
1. From last two days there is no directonal move so it may
2.Monthly expiry ( I have...
#banknifty expiry special:-
Breakout Restest:- 34,722
20 DMA:- 34,648
Use the GREEN area to go long, the structure is OK, still, I don't see any issues.
#elliottwave #nifty50 #stoackmarket
Falcon Analytics Outlook Bank Nifty for the week (May 23 – May27)
Technically on the daily charts we see major support on the downside for BankNifty index lies at 32955 levels,
whereas major resistance on the upside is capped around 35000 levels.
If BankNifty index breaches minor support on the downside and closes below it, we may see fresh break down...
NIFTY opened on a positive note and traded strongly in the positive side throughout the day. In the intraday chart the index made a triple bottom near 17150 levels and that could act as the strong support for the expiry. On the upside immediate resistance may come near 17260-17300 levels. Tomorrow being expiry day we may see volatility. However the broad range...