Intraday
Banknifty Intraday View for 9th Jan 1) Banknifty didn't sustain above support level and the first 15 mins candle is rejection of uptrend. Fall down by breaking Support 1 & 2 levels of 6th Jan view and took support at 1 hour TF 41900 level.
############# 9th Jan Intraday view ##########################
##Bullish View
1) Currently Banknifty at resistance level and Falling Wedge breakout, but the last 15 mins candle is Bearish Hanging man.
2) If it breaks resistance level 42240-42260 and close next 15 mins candle green we can see up move to Resistance1/Target1 (42360-42400) and if there is no rejection at R1 levels we can see R2/T2 levels(42580-42620) mentioned in the chat.
##Bearish View
1) If rejects at current resistance level then next support is 41950 to 41900 level, if it breaks the next support level is 41560 to 41500.
2) If it breaks Support 2 level then more bearish and next support is around 40900.
Banknifty Raising wedge NSE:BANKNIFTY
Good to keep on the radar
Always respect SL & position sizing
========================
Trade Secrets By Pratik
========================
Disclaimer
SEBI UNREGISTERED
This is our personal view and this analysis
is only for educational purposes
Please consult your advisor before
investing or trading
You are solely responsible for any decisions
you take on basis of our research.
BANKNIFTY TOMORROW PREDICTION...BANKNIFTY analysis for tomorrow. In my opinion the market will be GAP DOWN tomorrow. If the market cross 42481 then we can go for PE(PUT) in banknifty for tomorrow... First target 42378, second target 42234 and third target 42085. if the market goes UPSIDE we should BUY CE(CALL) in banknifty above 42756. First target42905. second target 42973 and third target 43135...
intradayonly for short side. time frame :15min . a great closing then you can enter for short by putting a logical stop loss.
follow your risk management
BANK NIFTY TRADE PLAN FOR 05-01-2023Bank Nifty is at Crucial Support of 43000 Zone. In my view, Bank Nifty is more Bullish than Nifty in the Long term.
1. Bank Nifty Closed below 43000, But is still in the Support Zone. We can plan Buying based on Price action today and we can achieve a Good RR Ratio of more than 1:2 and 1:3.
2. If Bank Nifty sustains below 43000 and breaks the support trendline, I will plan to sell on Proper Retest. 42500 Zone will be Big Support in my view because Bank nifty is forming inside candle patterns in Daily TF and the Low of Mother Candle is 42500.
ps: Budget Session is ahead - Trade with Proper Risk Management.
NIFTY 50 TRADE PLAN FOR 05-01-2023NIFTY is at Crucial Support of the 18000 zone and today is the weekly expiry. Therefore we can expect volatility in the market and there can be Fake Breakouts.
1. Nifty closed at 0.5 FIB Zone and if it sustains there and crosses 0.382 FIB along with the resistance trendline, Will take a bullish entry on a proper retest.
2. If Nifty breaks the 18000 zone and Important hourly support trend line. My view will be bearish for the short term. The next support will be 17800. There are many GAPS pending below 17800 and I think market will fill those gaps, once 17800 is broken
ps: Budget Session is ahead - Trade with Proper Risk Management.