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BANKNIFTY INDEX MAGICAL LEVELS FOR 29-09-23
The plotted levels on the chart should be considered only when BANKNIFTY opens flat on 29-09-2023.
If BANKNIFTY opens GAP-UP or GAP-DOWN on 29-09-2023 then the following calculations must be considered:
Level 1 = OPEN PRICE (29-SEP) -78.80
Level 2 = OPEN PRICE (29-SEP) -235.75
Level 3 = OPEN PRICE (29-SEP) - 117.80
Level 4 = OPEN PRICE (29-SEP) + 78.80
Level 5 = OPEN PRICE (29-SEP) + 235.75
Level 6 = OPEN PRICE (29-SEP) + 117.80
Level 7 = (Level 1 + Level 2) / 2
Level 8 = (Level 4 + Level 5) / 2
The yellow, purple, and white coloured lines plotted on the attached chart are strong reversal levels.
DISCLAIMER: This idea is only for educational purpose.
NIFTY 50 INDEX MAGICAL LEVELS FOR 29-09-23
The plotted levels on the chart should be considered only when NIFTY opens flat on 29-09-2023.
If NIFTY opens GAP-UP or GAP-DOWN on 29-09-2023 then the following calculations must be considered:
Level 1 = OPEN PRICE (29-SEP) -26.75
Level 2 = OPEN PRICE (29-SEP) - 80.00
Level 3 = OPEN PRICE (29-SEP) - 40.00
Level 4 = OPEN PRICE (29-SEP) + 26.75
Level 5 = OPEN PRICE (29-SEP) + 80.00
Level 6 = OPEN PRICE (29-SEP) + 40.00
Level 7 = (Level 1 + Level 2) / 2
Level 8 = (Level 4 + Level 5) / 2
The yellow, purple, and white coloured lines plotted on the attached chart are strong reversal levels.
DISCLAIMER: This idea is only for educational purpose.
Mighty Nifty - Sep 21Price fall from the wedge formation and now it is at support.
Pattern : Support/Resistance.
Range : Medium
Trend strength : Normal
Buy Above : 19920.
Stop Loss : 19880.
Targets : 19960, 20000 and 20040.
Sell below : 19850.
Stop Loss : 19880.
Targets : 19820, 19790 and 19760.
Expected expiry day range is 19750 to 20050.
Check the live market updates.
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Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
You are responsible for whatever you do.
Trendline support.Chart is self-explanatory. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations.
Good Volume with trendline support.
Any stocks minimum 3month may be a short term...may not plan less than 3 months.
Stoploss must be there, May be at 5% for this stock.
Educational Price Action analysisStock will become more strong if it does a retest after the BO....
Keep an eye to check this hypothesis..
Breakout and retestBreakout of crucial level is important indication of higher prices to come.
When such breakout creates all time high it means that market participants are now willing to pay higher prices.
A retest of earlier resistance from above creates good buying opportunity for investors. Here there is low risk and high return. Also success probability are high for such setup.
Bank Nifty - Sep 13Pattern : Support/Resistance.
Range : Medium
Trend strength : Less.
Buy Above : 45520
Stop Loss : 45440
Targets : 45600, 45680, 45800, 44880 and 45960.
Sell below : 45340.
Stop Loss : 45420.
Targets : 45260, 45180, 45040 and 44960.
Check the live market updates. Expected expiry day range is 46000 to 44900.
Hit the like button to rock !!
Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.