Multiple Time Frame AnalysisBanknifty have given breakout of falling wedge channel today which is a sign of good revresal in an hourly timeframe.
Indextrading
Nifty analysisNifty forming symmetrical triangle on 1H chart. Taking support from the lower trendline.
Rsi showing bearish divergence. Plan your trades accordingly.
Banknifty getting ready for a fresh up moveBanknifty 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
Nifty Expiry strategy & Trade 25/11/2021Today 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 reduction,
First and second half opposite movement expected,
Expiry may happen 17450-17550
Trade,
If Nifty break 17350 at down side,
Short Nifty,
Tgt 17250,17200
SL 17425
If Nifty crossed 17425,
Long Nifty,
Tgt 17475,17525
SL 17350
NIfty Alert was given yesterday, Trade for 29 Nov 21The 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
Nifty Trade Idea for 23rd Nov 21Today 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.
NIfty in the hands of smart Call writersIf 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
Nifty on important support levelWithout 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
Both targets achieved today, Banknifty may surprise tomorrowAs 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
NIFTY Trend ReversalOn last trading session (FRIDAY) before the closing of the market we have seen a clear bounce from the important zone of 17600 if market manages to sustain above 17600 level on Monday index is heading for 17900/18000 in coming days.
As a trend reversal trader I will like to built a long position in NIFTY above 17760 for the above mentioned targets.
Also RSI Is also below 30 which also depicts the change in trend in coming trading sessions
Always follow proper Risk and position management.
Trade as per your risk appetite
Nifty regaining strength ??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 rally,
Trade,
If opened and sustain above 18130,
Long Nifty,
Tgt 18175,18200,18225
SL 18075
Banknifty may recoverBN 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
Banknifty Targets achieved, View for 12/11/21Today 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 still in Negative directionOn Day chart, BN still showing negative trend for short term,
An "Insider Candle" pattern formed and today closed in down side direction of child candle,
Also, RSI is weak, MACD negative diversion formed,
Even if it touch 39800, A sharp down fall possible, and If it start trading & closed below 39300 without upper side movement, we can see a lower level up to 38250 in very near future.
TRADE -
If sustain above 39800,
Buy BN , SL 39300, Tgt. 40000,40150, 40375
If Sustain below 39300 -
Sell BN , SL 39550, Tgt. 38850, 38500, 38250
No Trade zone
39300-39775
Banknifty still in Negative direction ( Trades , Tareget and SL On Day chart, BN still showing negative trend for short term,
An "Insider Candle" pattern formed and today closed in down side direction of child candle,
Also, RSI is weak, MACD negative diversion formed,
Even if it touch 39800, A sharp down fall possible, and If it start trading & closed below 39300 without upper side movement, we can see a lower level up to 38250 in very near future.
TRADE -
If sustain above 39800,
Buy BN , SL 39300, Tgt . 40000,40150, 40375
If Sustain below 39300 -
Sell BN , SL 39550, Tgt . 38850, 38500, 38250
No Trade zone
39300-39775
Banknifty Make or Break session tommorrowBanknifty 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 in Buying modeNifty closed in positive direction, RSI showing strength and MACD is positive,
If opened and sustain above 18090, Buy nifty,
Tgt 18125, 18175, If sustain above 18225 then a sharp short covering expected that can take nifty up to 18275, 18325
SL 17975
Banknifty - Magic of Trend line...Hi, Guys,
I strongly recommend use of trend line on a 15 minute chart,
Please see the benefits of trend line in the chart.
Happy Diwali and Happy Tradeing.
Banknifty big moves expectedas banknifty closed on important support level of 39500, we can expect big moves either side.
As of now, there was FII selling from last 7 days due to monthly expiry may be,
Our bank results are not that much bad, hence there is no any special reason we found in today's sell off,
From 29th Oct we can expect stop selling and start of fresh buying by FII, And market sentiment may be again bullish,
If Bank nifty opened and sustain above 39650 tomorrow, we can expect 40000 levels in tomorrow's session and also 41000 shortly,
There is no any god resistance between 39700 to 40000,
But if it started trading below 39350, then next support would be 39000 a psychological level and 38800 is technical support, next would be 38385,
Happy Trading
Nifty may surprise coming weekOn a daily chart, Nifty closed below important support level, i.e. 17800,
As today was monthly expiry , from last 7 days there were heavy sell off by FIIs, From tomorrow we may expect either stop selling or start buying, hence, We may be surprised tomorrow,
If Nifty opened above positive and sustain above 18150, we can expect 18900 by 3rd Nov 2021 expiry. But if it continued trading below 17800, Next support level would be 17440,
Suggestion - Don't take any position till Nifty crosses 18200 or break 17700
Happy Trading
Breakout and retest in Bank niftyBank nifty is holding up above the upper TL of the channel pattern. More correction can be seen if starts trading inside the channel again which will be a sign of channel breakout failure
banknifty upcoming possible movement Symmetrical triangle formation in banknifty.
Can give a good move if breaking either side.
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