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Bank Nifty Trade Plan for 04 OCT 2021Bank Nifty Trade Plan for 04 OCT 2021 Bank Nifty traded in a very narrow range in the last session and managed to close above the next day CPR levels showing some signs of pull back. Bank Nifty likely to open with a small gap up opening. 37342 is the first resistance to watch out, if that is taken out successfully we can expect Bank nifty to find resistance from previous session Virgin CPR levels which is our Bullish Breakout zone of 37458. If break out is confirmed we can expect possible Target 1 & Target2. In case CPR is compromised we can expect possible Breakout zone 36994 & lower Target1 & 2.
NSE:BANKNIFTY
by RaviChandran_Rajkumar
Bank Nifty Trade Setup for 13 Sep 2021Bank Nifty expected to open flat. Narrow CPR in Bank nifty expecting some volatality. Last 2 trading sessions were very much range bound. The previous session closing is below the current day CPR and hence the current CPR should act as possible resistance. The first immediate resistance is 36763 and if that is taken out we can expect 36843 to be tested out. Any compromise of 36603 we can expect BN to test out 36526 & lower target 1 & 2 of 36400 levels.
NSE:BANKNIFTY
by RaviChandran_Rajkumar
BANK NIFTY TARGET PRICE LEVELSBank nifty showed a fantastic rally after breaking the 36100 price level. If it continues to sustain above 36300, then go long. Target 1 is given by AB=CD pattern with 2 as fib extension. If bank nifty manages above target 1 then trail stop loss until target 3. Targets 2 and 3 are in the PRZ, so book your profits timely. Above this PRZ, there will be another rally with shorts covering but considering today's rally, the index may undergo consolidation or correction. Place stop loss at 36134 price level. The logic for the stop loss is simple, 36100 was a strong resistance level. Now it became a support level. Happy trading :) This is not an investment idea. Please consult your financial advisor before investing.
NSE:BANKNIFTYLong
by Sanjan91
BANK NIFTY forming bullish pole and flag patternBank nifty formed bullish pole and flag pattern with falling wedge pattern, with max drawdown to a level of 35422, which is also a round level of previous breakdown and resistance, the movement might turn bearish, or sideways if the level gets breaks otherwise the sight is still bullish as nifty forming all time highs and banknifty still not performing to play a role. My view :- Bullish buy at:- 35450 after testing 35422 & target :- 35911+ Bearsish sell at :- below 35422 and target :- 34924 do like if the idea is worth it!!!!! Thanks this is just my personal view
NSE:BANKNIFTYLong
by dhruvnarola
BANK NIFTY - NEAR LONG TERM SUPPORT Bank Nifty has a broken boxed area and is trading near a long-term support area. 1. Possible false breakdown may be shown for negative bias as shown in the chart. 2. Possible to take support from long-term channel support and get stuck in box range again. If takes support from channel support, a quick breakout towards upside may be seen (unlikely). If breaks down the channel (likely due to negative divergence in nifty in 1H time-frame) good near support is available. DYOA. Good Luck.
NSE:BANKNIFTY
by techD_007