Nifty view for Dec 02, 2022 - Go short Dear Friends,
As discussed yesterday that all the stakes is at 18800 we had a single closing above 18800 yesterday and today we have not even touch 18800 today. I have turned bearish and I have some position on bearish side. if we close below 18618 today then we should witness a 18325 as first target next week.
For the second session for the day, if we come close to 18700/18710 then we should take 18740/750 as SL and take the bearish trade for the target of new low below 18639.
Please save your hard earn money and always trade with hedge.
Intradaytrade
Banknifty Chart Pattern AnalysisBanknifty Chart Pattern Analysis
Probability is to take support near 43100
Bulish SIgnals--
1 Accesding pattern is very popular for bulish signal
2 USD INR trends Down
3 FII data-Net Purchase activity shown
Still its believe that breakout for high after taken a valid support
NSE:BANKNIFTY
Fin nifty Intraday levels for 02.11.2022Resistance level:18675.50
Support level : 18565
****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 are consolidating in buy zone or sell zone, wait for the breakout
If candles are sustaining or break below support level , we can expect downside move and the targets will be fib retracement levels as per chart.
If gap up or gap down opening, fib retracement levels will act as the support or resistance
*** For quick scalping use 5-minute time frame *****
Note: Pls check my previous day idea for better understanding & how it works
Please let me know in comment section if you have any queries and like the idea If you agree with the analysis.
Disclaimer:
Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research
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