Continued bounce from 17800 level in the index making it a make or break level. Not only the repeating hitting at the said support level is making it weaker, while also acting as defense zone from the bears.
Weekly close has been as a doji, so uncertainty hovers for upcoming sessions.
Let's see if the marked levels may guide us in intraday trades.
Falling channel has been identified after index took a hit from upper line of falling wedge from Daily chart. Expecting 17800~ level to act as support on immediate basis, if catches up.
Probably the falling channel is indicating @ sell on rise scenario. No positive updates on fundamentals front. Let's see. :)
CNY + USD + INR CPI data awaited this week + Result session begins.
Time to trade cautiously.
In this chart, I have marked important intraday levels. Let's see how it plays out.
Resistance level: 19070.20
Support level : 18945.50
****Fib Retracement levels will act as the support or resistance****
If candles are sustaining or break above resistance level , we can expect upside move and the targets will be fib retracement levels as per chart
If candles are sustaining between resistance and support levels, consider as neutral
If candles...
Banknifty Levels for Tomorrow..
Trend : BULLISH
Sentiment : Positive
Expectation : Moderately BULLISH
Banknifty is forming Raising wedge pattern, High probability is to take a BULLISH move. If the lower trendline is compromised we can see down move.
Tomorrow if any Gap up open and Pull back to 39693 - CPR we can look for long entry. Any breakout of upper...
Nifty Levels for Tomorrow..
Trend : BULLISH
Sentiment : Positive
Expectation : Moderately BULLISH
Nifty is currently consolidating to take a BULLISH move.
Tomorrow if any Pull back to 17630 - CPR we can look for long entry. Any breakout of Trendline is the confirmation Nifty may test 18000 very soon. So buying levels are 1) CPR zone and 2) Trendline Breakout...
Banknifty Levels for Tomorrow..
Trend : BULLISH
Sentiment : Positive
Expectation : Sideways - Volatile
What a sharp rally in Nifty on Tuesday.. made 400 Points intraday rally.. Similarly Banknig sector was good boomed Banknifty 1000 points intraday move.
But SGX Nifty is already trading near 17500 with 300 Points down currently. Global cues are also negative...
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Nifty Levels for Tomorrow..
Trend : Bullish
Sentiment : Positive
Expectation : Moderately Bullish
Expecting Nifty open sideways / small gap up - if any rejection around Sell reversal 16388 and we can go short for quick scalping for the target of CPR BC. For Long if any pull back to CPR Pivot / BUY Reversal is where we can initiate our long entry with reversal...
Nifty Levels for Tomorrow..
Trend : Bullish
Sentiment : Positive
Expectation : Strong Bullish
Expecting Nifty open above R1 level with big gap up Open as Global indices and SGX are positive. We can expect nifty to test 16500 next week, so whenever we see a pull back its buying opportunity to go long at the Support levels.. Tomorrow wait for first 5 mins candle...
TATA STEEL levels for Tomorrow..
Trend : Bearish
Sentiment : Negative
Expectation : BEARISH Retracement
It has aligned with BEARISH Sentiment, after a breakout of 894 on the lower side. Bullish trend only above 895.. until its Bearish.. Look for SELL opportunity at Sell reversal level for target of previous day low and then it may bounce back in the 2nd...
Banknifty Levels for Tomorrow..
Trend : Bearish
Sentiment : Positive
Expectation : Moderately Bullish
Expecting Bank nifty open around R1 - PDH level with average gap up Open as Nifty Shows Strength. Any pull back around PDH / R1 is buying opportunity. Tomorrow wait for 1st 5m candle to close and initiate your entry.. Any breakout of first 5m candle high we...
Banknifty Levels for Tomorrow..
Trend : Bearish
Sentiment : Negative
Expectation : Bearishly Aligned but Rangebound / Volatile day
Expecting Banknifty to Open Small Gap Down / Sideways Open any support near 34600 level we can look for Long Opportunity. Being an expiry day wait for 1st half to identify the trend and then take your trade around 1:30 Pm
Buy above...
Nifty Levels for Tomorrow..
Trend : Bearish
Sentiment : Negative
Expectation : Bearishly Aligned but Rangebound / Volatile day
Expecting Nifty to Open Gap Down / Sideways Open any support near 15900 level we can look for Long Opportunity. Being an expiry day wait for 1st half to identify the trend and then take your trade around 1:30 Pm any breakout above...
Banknifty Intraday Levels for Tomorrow..
Trend : Bearish
Sentiment : Negative
Expectation : Bearish Continuation
Expecting Bank Nifty to Open Small Gap Up as Global indices are trading mixed - so it may open near CPR levels zone, if any rejection around Sell Reversal / CPR - TC we can look for Shorting opportunity. Next Support in Banknifty is 34813 - 34762...
