NSE:NIFTY
Nifty analysis important levels are marked on the chart.
please always trade with stop loss to avoid big drawdown.
Happy trading & keep learning
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.
Banknifty has a crucial TL which is working as support for now. Upcoming session can be trades based on the levels given. Cheers. Caution : budget week.
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.
Trade,
If Nifty start trading below 17000,
Short Nifty ,
Tgt 16850, 16700 & positional 16350
SL is very deep.
17620
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...
Banknifty is near to upper level of 15 minutes trend line from 27th Oct. 21,
If BN crossed and close above 38100 today, A fresh up move can be seen for a target of 38248, 38735, SL 37700
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,
Short Nifty,
Tgt 17225, 17000, 16700,
SL 17430
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
Trade,
Sell Nifty at 17400
Tgt 17330, 17250, 117150
SL 17525
Without hitting SL our one target achieved today,
PCR showing over sold indication,
If opened and sustain above 18075,
Long Nifty,
Tgt 18125, 18175,18225
SL 17975
As expected,
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,
Long BN,
Tgt 38550, 38620, 38780
SL 38250
BN closed near important resistance level of 38780,
RSI weak, MACD negative,
If opened and sustain above 38800,
long BN,
Tgt 38950, 39100, 39225
SL 38750
If start trading below 38700,
Short BN,
Tgt 38550, 38400
SL 38780
Nifty closed in the middle of a 115 minutes channel,
RSI showing good strength,
MACD in negative mode,
Conclusion,
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,
Now,
RSI is at 43 and MACD expected positive turn for tomorrow,
Range bound trade expected between 38200 - 38700
Trade,
If Opened above sustained above 38600,
Long BN
Tgt 38775, 38840
SL 38300
If sustain below 38250,
Short BN,
Tgt 38075, 37925
SL 38400
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,
Short BN
SL 39200
TGT 38800, 38550, 38250
If crossed and sustain above 39200,
Long BN
SL 39100
TGT 39300, 39450
![NIFTY: NIFTY INTRADAY SUPPORT & RESISTANCE LEVELS FOR [18-05-2022]](https://s3.tradingview.com/l/lZWCYXp6_mid.png "NIFTY INTRADAY SUPPORT & RESISTANCE LEVELS FOR [18-05-2022]")
