BANKNIFTY INDEX PRICE ACTION EXPECTATED FOR THE DAY-BANKNIFTY HAS BROKEN ITS TRADING RANGE
-RANGE OF 23500-24200 FUTURES RANGE
-INDED IS NOW STARTED TO TRADE BELOW ITS 20-EMA BUT NOT BY MUCH
-INDEX HAS CLEARLY BROKEN ITS THREE INSIDE-DAY TRADING BAR RANGE ON FRIDAY
-INDICATING SIGNS TRENDING DOWNSIDE
-BANKNIFTY CAN TEST 23200-22900 AND REVERTED BACK I HAD MENTIONED ON FRIDAY
-INDEX TRYING TO FORM BASE IN THE RANGE OF 22850-23000
-WE DID SEE THE INDEX BOUNCE BACK FROM MY GIVEN LEVELS AND IT MANAGED TO BOUNCE TILL 23440
-NOW IF THE LOW IS TAKEN OUT AGAIN TODAY (22750)
-WE WILL SEE LOWER LEVELS IN BANKNIFTY
-BANKNIFTY HAS A BIG TRADING RANGE OF 21000-23070
-IT REMAINS TO BE SEEN IF BANKNIFTY COMES BACK TO RETEST 21000
-AS WHEN FAILED BREAKOUT HAPPENS INDEX DUE TEND TO TEST THEIR LOWER BOUND
-SUPREME COURT DECISION ON INTEREST WAIVER IS NOT OUT STILL A OVERHANG POSTPONED TILL 10TH SEPT
-CRUCIAL SUPPORT PLACED @22450
-CRUCIAL RESISTANCE PLACED @23500
RESISTANCE FOR THE DAY (FUT)
23200-23500-23600
SUPPORT FOR THE DAY (FUT)
22450-22675-22850
SCREENSHOT
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NIFTY TRADE SETUP FOR THE DAY-INDEX HAS MANAGED TO CROSS OVER 11240
-WHICH INDICATES THE MARKET HAS BROKEN OUT OF A 3-DAY INSIDE BAR TRADING RANGE
-LAST TIME THIS EVENT HAPPEN WAS AT 9160 MARKET TRADING INSIDE A RANGE OF 9160-8820 AND AT 10755-10560
-BOTH THE TIME AFTER A BREAKOUT MARKET RALLIED FOR ATLEST 500 POINTS
-11247 WAS A CRUCIAL LEVEL FOR THE INDEX IN FUTURES MARKET AND WE CONQUERED THAT
-TARGET OF 11340-11410 HAVE BECOME LIVE NOW
-A CROSS ABOVE THAT WILL ALLOW INDEX TO TEST 11500
-MARKET IS GETTING INTO OVERBROUGHT POSTIONS IN SMALLER TIME-FRAME
-PLEASE NOTE THE TRADITIONAL WAY OF LOOKING AT RSI DOES NOT WORK I HAVE EXPLAINED ABOVE ALREADY ON WEEKLY SETUP
-INTERESTING OBSERVATION DURING THIS PREVIOUS WEEK WAS INDEX IS TRADING INDEX THE BAR OF 22ND JULY
-INDICATING SOONER OR LATER WE WILL HAVE A INSIDE BAR BREAKOUT
-FINALLY IT DID BREAKOUT
-OPEN INTEREST SETUP INDICATES BIGGER MOVE IN NIFTY FOR JULY EXPIRY
-ONLY THING IS BANKNIFTY SHOULD PROVIDE SUPPORT FOR THE INDEX
-CRUCIAL SUPPORT PLACED AT 11240
-CRUCIAL RESISTANCE IS PLACED AT 11400
NIFTY RESISTANCE FOR THE DAY
11342-11410-11525
NIFTY SUPPORT FOR THE DAY
11240-11125-11035
!!PLEASE NOTE THE ABOVE INFORMATION IS FOR KNOWLEDGE ONLY!!
!!TRADE ACCORDING TO YOUR RISK PROFILE!!
!!SUGGEST OPTION TRADES TO NAVIGATE VOLATILITY!!
!!HAPPY TRADING!!
NIFTY TRADE SETUP FOR THE WEEK -INDEX HAS MANAGED TO 11000 MARK ON A WEEKLY BASIS
-11247 IS A CRUCIAL LEVEL FOR THE INDEX
-ONCE THE LEVEL OF 11247 IS CONQUERED NEXT TARGET WOULD BE 11340-11410
-A CROSS ABOVE THAT WILL ALLOW INDEX TO TEST 11500
-MARKET IS GETTING INTO OVERBROUGHT POSTIONS IN SMALLER TIME-FRAME
-ON DAILY CHART RSI TOOK SUPPORT AT LEVELS OF 60 AND NOW IS TRADING AT 71
-INDICATING THAT ITS NOT WILLING TO GO DOWN
-INTEREST OBSERVATION DURING THIS PREVIOUS WEEK WAS INDEX IS TRADING INDEX THE BAR OF 22ND JULY
-INDICATING SOONER OR LATER WE WILL HAVE A INSIDE BAR BREAKOUT
-CRUCIAL SUPPORT PLACED AT 11035
-CRUCIAL RESISTANCE IS PLACED AT 11240
NIFTY RESISTANCE FOR THE DAY
11240-11342-11410
NIFTY SUPPORT FOR THE DAY
11125-11035-10980
!!PLEASE NOTE THE ABOVE INFORMATION IS FOR KNOWLEDGE ONLY!!
!!TRADE ACCORDING TO YOUR RISK PROFILE!!
!!SUGGEST OPTION TRADES TO NAVIGATE VOLATILITY!!
!!HAPPY TRADING!!
ASCENDING CHANNEL (BULLISH) IN BANKNIFTY BANKNIFTY TRADE SETUP FOR THE WEEK
-INDEX ON FRIDAY BROKE BELOW THE RANGE OF PREVIOUS INSIDE BAR WHICH IS USUALLY BEARISH
-BUT I BELIEVE IT TO BE A TRAP ON THE DOWNSIDE AS MULTIPLE SUPPORT ARE RISING
-INDEX HAS MANAGED TO HOLD ON TO ITS 100-EMA PLACED AT 22422
-ANOTHTER 20-EMA RISING AT 21121
-RISING TRENDLINE ON DAILY CHART INDICATE GOOD SUPPORT AT LOWER LEVELS
-RISING TRENDLINE IS A PART OF A BULLISH CHANNEL IN BANKNIFTY
-WITH SO MANY MULTIPLE SUPPORTS I FIMRLY BELIEVE TRACTION CAN BE ON THE UPSIDE IN THE EXPIRY WEEK
-INITIAL HURDLE FOR THE INDEX IS 23070
-ONCE CONQUERED WE CAN EXPECT THE MARKET TO TEXT 23470-23870
-CRUCIAL SUPPORT IS PLACED AT 22422
-CRUCIAL RESISTANCE IS PLACED AT 23070
BANKNIFTY RESISTANCE FOR THE DAY
22800-22940-23070
BANKNIFTY SUPPORT FOR THE DAY
22570-22450-22260
!!PLEASE NOTE THE ABOVE INFORMATION IS FOR KNOWLEDGE ONLY!!
!!TRADE ACCORDING TO YOUR RISK PROFILE!!
!!SUGGEST OPTION TRADES TO NAVIGATE VOLATILITY!!
!!HAPPY TRADING!!
BANKNIFTY TRADE SETUP FOR THE WEEK-BANKNIFTY CONQUERED 22000 ON FRIDAY
-INDEX MANAGED TO CLOSED AT THE HIGH POINT SHOWING STRENGTH ON THE UPSIDE
-WHAT WE ARE LOOKING FOR IS A GAP-UP IN THE BANKNIFTY
-CAN'T PREDICT THAT
-22450 IS THE LEVEL TO WATCH
-23070 IS THE CRUCIAL RESISTANCE
-21670 IS CRUCIAL SUPPORT
-"BUY ON DIPS MARKET"
-HDFC BANK IN FOCUS
BANKNIFTY RESISTANCE FOR THE DAY
21960-21800-21670
BANKNIFTY SUPPORT FOR THE DAY
21200-21150-21050
!!PLEASE NOTE THE ABOVE INFORMATION IS FOR KNOWLEDGE ONLY!!
!!TRADE ACCORDING TO YOUR RISK PROFILE!!
!!SUGGEST OPTION TRADES TO NAVIGATE VOLATILITY!!
!!HAPPY TRADING!!
POSITIONAL TRADE IN AMARARAJA-breaking consolidation and moving up
-momentum trade
-first time will manage to close over 680
-can see some short covering above 685
POSITIONAL TRADE
BUY@684.5
STOP@664.5
TARGET@694.5(SHORT TERM)
TARGET@711(SWING TRADE)
TARGET@720(POSITIONAL TRADE)
INTRADAY TRADE IN HDFCINTRADAY TRADE IN HDFC
BUY@1835
STOP@1817
TARGET@1848
!!please note trade with caution!!
!!manage your risk!!
!!trade-wise!!
!!please adjust for future rates!!
INTRADAY TRADE IN HDFC INTRADAY TRADE IN HDFC
BUY@1808
STOP@1802
TARGET@1820
!!please note trade with caution!!
!!manage your risk!!
!!trade-wise!!
!!please adjust for future rates!!
INTRADAY TRADE IN HDFCINTRADAY TRADE IN HDFC
SHORT@1766
STOP@17780
TARGET@1750
!!please note trade with caution!!
!!manage your risk!!
!!trade-wise!!
!!please adjust for future rates!!