banknifty is wokring in a channel which can be spotted in an hourly time frame also bounced from the support as in the chart if trendline is broken as shown in chart we can again see upside levels chances are very high of upside movement and a bull run.
40000 target might be coming in banknifty.
Nifty Bank on 15 min timeframe looks bearish
making bearish flag and pole on 15 min
levels to watch for upcoming days for week/2 weeks
also might consolidate after wonderful trending day !
this is just my analysis trade as per your plan and strategy. this is not trading call
The adjusted closing of NIfty at 17025,
H&S Neck line already broken, A fresh channel break down happened, FII watching the drama, Covid playing in the globe, Be careful.
If Nifty start trading below 17000,
Short Nifty ,
Tgt 16850, 16700 & positional 16350
SL is very deep.
Today Nifty closed below 17500,
at 10.32pm, Dow -60 points, Nasdaq +7 points & SGX Nifty -90 points,
Slightly negative opening expected,
Call side highest OI at 17500 & Put side at 17300, Cumulative highest OI at 17500 & 17600,
After flat to negative opening, Call side premium may decrease in first half and in second half we may see put side premium...
Today nifty broken H&S pattern neck line,
New fresh positivity can be seen only if Nifty sustain above 17750,
If Nifty break 17280 in tomorrow's session,
Tgt 17225, 17000, 16700,
Call writers playing smartly,
Fresh call writing generating only after breaking each important level.( Very Smart ), Hence they r not getting trapped.
If you observe,
Call writers writing the calls only after breaking the each level, where they can generate the fresh resistance, Bulls trapped badly,
Nifty can survive only if FII start buying, else, H&S pattern neck line broken.
Fresh Nifty Support 17000, 16700, 16365, 15965
Sell Nifty at 17400
Tgt 17330, 17250, 117150
BN traded at short side today, Our both targets achieved,
Closed above 38300 after adjustment,
38300 is a important level, PCR indicating over sold, MACD over stretched, RSI at lower level,
If BN test 38127 tomorrow, a sharp bounce back may surprise us,
If start trading above 38425,
Tgt 38550, 38620, 38780
BN closed near important resistance level of 38780,
RSI weak, MACD negative,
If opened and sustain above 38800,
Tgt 38950, 39100, 39225
If start trading below 38700,
Tgt 38550, 38400
Nifty closed in the middle of a 115 minutes channel,
RSI showing good strength,
MACD in negative mode,
If opened above 18130, Short covering possible, which will take nifty 18175, 18200, 18225,
But as RSI at higher level, MACD slightly negative, sharp profit booking possible at higher levels,
If FII start buying, then only Nifty can continue...
Today BN tested 38345 level, Our both targets achieved,
RSI is at 43 and MACD expected positive turn for tomorrow,
Range bound trade expected between 38200 - 38700
If Opened above sustained above 38600,
Tgt 38775, 38840
If sustain below 38250,
Tgt 38075, 37925
Banknifty closed at important support level after a volatile session, Possibility of breaking 15 minute trend line at down side, RSI weak and MACD Parallels
If opened and sustain below 39000 tomorrow,
TGT 38800, 38550, 38250
If crossed and sustain above 39200,
TGT 39300, 39450