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BANK NIFTYImp Levels for 03/08/2022. And we see a good volume day. As planned we got a very good long trade from 37760-38100. For tomorrow, if we open flat we will look to short the index once we sustain below 37830 for targets of 37730,37670 and 37520. SL for this will be placed around 37910. If we see a gap up, then the first point of reference to look will be 38170 levels, if we find rejection we can short with a 60 point SL for targets of 37990,37910 and 37830. Sustaining above 38200 can be a indication to go long for target of 38400. If we have a gap down open, then we wait before initiating any trade with 37670 as reference, if we stay below it we look for targets of 37510. Longs not preferred right now.
NSE:BANKNIFTY1!Short
by deepss4u
BANK NIFTYImportant Levels for 07-01-2022. A highly volatile session with wild moves in both sides. Tomorrow, if we open flat or with a small gap down and sustain above the support zone of 37450-37550, we can take longs with a SL of 50-60 points and look for targets of 37700,37800 and 37950. The SL needs to be trailed aggressively as 37800-37980 will act as a strong resistance. If we open with a gap up and see -ve price action at 37800-37950 level then we can take shorts with SL of 50-60 point and aim for targets of 37550,37450 and 37300. We can expect tomorrow to be a sideways day within the range of 37300-37900.
NSE:BANKNIFTY1!
by deepss4u
NIFTYImportant Levels for 07-01-2022. We witnessed a big gap down opening and the price went down immediately and found support at 17680-17700. Then we saw some high volatile expiry moves. Talking about tomorrow, the important resistance zone will be from 17795-17845 and important support zone shall be 17685-17710. We expect a sideways day with pullbacks between these zones. Longs can be taken once 17850 is crossed and price sustains above it with SL of 17820 and targets of 17900,17940 and 17980. If price crosses 17685 and sustains below it, we can take shorts with half of our normal position sizing, SL can be placed at 17715 and targets of 17660,17640 and 17600 should be aimed. Price sustaining below 17600 can test 17560.
NSE:NIFTY1!
by deepss4u
BANK NIFTYImportant Levels for 04-01-2022. The sellers were not able to capitalize and fast buying happened every time the price came down. We expected the prices to consolidate in a tight range and it was the case throughout the day but in the last 30 mins we saw prices moving up and closing at highs. Volumes do not look that great for the price to sustain, we expect to see some profit booking tomorrow after a 2000 point rally in 3 days. If we sustain above 37000, we can take longs with SL of 36920 for targets of 37120,37200 and 37280. Risky traders can short if we see -ve candle with volumes in the first 5 minutes. with a SL of 50-60 points and targets of 36790,36660 and 36500. Option data is almost neutral with 36500 as major support.
NSE:BANKNIFTY1!
by deepss4u
NIFTYImportant Levels for 05-01-2022. A volatile session ended with a good breakout. If we open flat and sustain above 17880, we can take longs with SL of 17860 for targets of 17920, 17960 and 18000. But if we trade lower, we can take shorts below 17850, with SL of 17880, for targets of 17830,17810 and 17780. A gap up opening and short positions can be taken if we see a negative candle with good volumes. Gap down opening can see support from 17700-17710 and positions should be taken only after seeing how price behaves at this point. Option data indicates 17500-18000 to be the trading range this expiry.
NSE:NIFTY1!Short
by deepss4u
BANK NIFTYImportant Levels for 04-01-2022. A trending day and we can expect the prices to consolidate tomorrow inside a small range. The levels marked can act as support and if we observe god volumes we can take longs with a 40-50 point SL and look for the next levels as targets. If we start sustaining above 36700, we can look for targets of 36800,36900 and 36960. We can avoid shorting unless we have a massive gap up. Option data indicates 36500 to be a kind of resistance but if we sustain above it we can see another 500 point rally.
NSE:BANKNIFTY1!
by deepss4u
NIFTYImportant Levels for 04-01-2022. We did witness a lovely trending day and all our targets were achieved quite easily. Now we can see that we did face some kind of resistance at the last swing high but with good volumes support we can expect to cross this level and tag higher prices. If we see a gap down open or we see any spikes on the downside, 17630-17660 can act as good support and will be a good region to take longs with a 15 point SL and the targets to look forward can be 16690,17720 and 17760. But in case we open flat or with a small gap up and continue sustaining above 17720, we can set targets at 17800,17840 and 17880. Shorts can be avoided unless we open with a massive gap up. Option data indicates bullishness with major support at 17500.
NSE:NIFTY1!Long
by deepss4u
NIFTYImportant Levels for 03-01-2022. Nothing happened in the index after the initial burst and was completely sideways throughout the day with a trading range of about 70 points. Unless we start trading above this zone fresh trades should be avoided. Once we give a candle close above 17440, we can take longs with SL of 17410 and aim for targets of 17485,17520 and 17550. 17390-17405 is acting as a support as of now and positive action can be seen here, but safe players should avoid this trade and take trades only after we cross the mentioned levels. We can look for shorts only if the price starts trading below 17320 with targets of 17260-17280 as potential targets with half the position sizing. Option data also indicates some bullishness with 17500 as a crucial resistance in spot.
NSE:NIFTY1!Long
by deepss4u
BANK NIFTYImportant Levels for 03-01-2022. An initial burst followed by a completely sideways market. Tomorrow if we open flat and cross 36730, we can take longs with SL of 36660 and look for targets of 36860,36980 and 36050. If we open with a gap up, we shall wait for the prices to come till 36700 on the down side and then plan longs once we see +ve price action supported by volumes. On the downside, shorts should be avoided unless we start trading below 36400. Option data has more of a positive bias with next major resistance at 36000 spot.
NSE:BANKNIFTY1!Long
by deepss4u
BANK NIFTYImportant Levels for 30-12-2021. The move came bit to late to capitalize upon. If we see a flat opening and we start trading below 34920, we can take shorts with SL of 34980 and aim for targets of 34780,34680 and 34420. If we open with a big gap down. we shall wait for price action at 34920-35040 which can act as resistance zones and the plan short trades accordingly. A gap open and we wait for action at 36280-36360 and then take positions accordingly. On the upside although scope looks less likely the targets to look forward are 35500,35630 and 35730. Option data suggests bearishness with support at 34500.
NSE:BANKNIFTY1!Short
by deepss4u
NIFTYImportant Levels for 30-12-2021. An uneventful day although fast execution in the morning did give us our entry and our targets. Tomorrow being the expiry, and the index still in range we can expect wild movements in either side. Will avoid to trade inside the range of last couple of sessions (17160-17280) and take trades once this range is broken. If we open flat or with a small gap down, and start trading below 17170, we can take shorts for targets of 17125,17065 and 17040. Option data indicates bearishness.
NSE:NIFTY1!Short
by deepss4u
BANK NIFTYImportant Levels for 29-12-2021. Clearly the sluggish of the two indices. We were not able to take out the open although we saw some kind of movement in Nifty. 35050-35120 can act as a support zone and if we witness any kind of upward movement with volumes, we can take longs with a SL of 50-60 points and aim for targets of 35220,35300 and 35360. Price sustaining above 35360 can take price up till 35500. Shorts can be taken only if we see a big gap up around 35500 levels followed by -ve price action or if we start trading below 35030. Option data for today has a negative bias but overall 35000-35500 likely will be the range to watch out.
NSE:BANKNIFTY1!
by deepss4u
NIFTYImportant Levels for 29-12-2021. The index traded inside a small range after opening with a gap up and did see the entire range for today almost being covered in the last 45 minutes making it quite possible to see a good move on the upside tomorrow. If we open flat or with a small gap down, 17170-17200 to be a nice support zone and we can place our long entries with a SL of 17160 and aim for targets of 17215, 17260 and 17300. If we see a gap up opening we wait for price action and then plan trades . On the upside 17330-17350 can act as a big resistance. Option data indicates bullishness.
NSE:NIFTY1!Long
by deepss4u
NIFTY VIEW for 5/NOV/2019Today We saw a mixed day, by EOD we saw the rejection from upside and it is reflected on the daily chart. Our levels worked very well today too. What Next? Today it has formed a shooting star kind of candle but not perfect, basically we consider this candle as sign of reversal when market traded near to the resistance zone. But nowadays sentiment is positive then I am also expecting it to hold 11950 level and go high at least 12000. But if it breaks below 11900 then we should look for 11850 and this is the again good buying point.
NSE:NIFTY
by pravinmangalam