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Bank NIfty Expiry day Special Analysis 27/07/2023Good Morning Traders, I hope you are doing good in your trading and your life as well. Before to start today's analysis, I want to say thankyou to all of you guy's that i have completed 2k followers on tradingview.com, it all got possible just because of your love and support guy's. Our TraderRahulPal family is increasing slowly slowly. Thankyou one more time to make this possible guy's. Okay now we will start our analysis. Banknifty is trading in kind of bullish flag pattern, but that is not exactly bullish flag pattern, but if we will see breakout this pattern we can see some momentum for upside, which can take this banknifty towards in the zone of 46230 and 46375 levels. But we need safe entry, which i already marked on chart, i will write it down also. i written on chart about resistance in upper zone (Well Guy's there is resistance for banknifty in the zone of 46231-46350, in case if we see any price rejection on top and we see any kind of bearish pattern like Inverted Hammer. So we can sale also with the stop loss of 46487). Banknifty Important Levels for today:- Buy above 46231, if levels got sustain at least for 30 mints. Targets we can see in upside 46364/46487+ Keep stop loss at 46000 Sale below 46000, if levels got sustain at least for 30 mints. Target we can see in downside 45806/45662/45504 Keep stop loss at 46231 Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction. Note:- For Banknifty Hero Zero trade will be in 2nd half according to price action, we will analyse market and then we will update in comment box. Please make sure you have followed us, so you will be notified on right time, when we update this idea. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:BANKNIFTY
by TraderRahulPal
7
Nifty Given a Strong Breakout on Weekly ChartsOn weekly charts, Nifty was not able to give a proper candle close above 17900 levels on last three rejections but able sustained above it this week with a strong candle close. It has also given a breakout on trendline or channel type of pattern which is respected for long time. Can initiate a Trade for upside when 18150 levels is taken out in 15min charts with SL of 50 points and first target of 18300. It is Preferred to check banknifty before taking a trade as it is also at All time high resistance Zone. For Downside, 18000 levels need to be broken up. It is preferred to to trade half quantity for downside.
NSE:NIFTY
by Menan_trades
1