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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
Bank nifty Range Break possibilities.Bank nifty is stuck in a range. either side break can trigger a sharp move. on weekly & Monthly chart it is still positive. Below is weekly chart. As it is still above 20 SMA view is positive. Risk Traders can go long here as Bank nifty is available at lower end of the range by keeping stop loss ( day low ) below the lower end of the range & today there is a big lower wick. If the range breaks on downside, avoid if there is massive gap down or big fall & wait for pull back to short. Be quick to book profits at below given trend lines. as overall structure is positive. Overall my view is still positive. Because there is not a structural breakdown on long term charts. Weak structure & Price stability below 20 SMA on weekly chart will be a caution sign for me
NSE:BANKNIFTY
by varadtambolkar
1
Bank Nifty Intra Day Trade Strategy for 2/8/21Bank Nifty Trade Setup for 2nd August 2021 – Bank Nifty Closes At 34585 Daily time frame – support – 34100 resistance - 34850 5 min time frame - resistance at 34750 and support at 34490 Sentiment of the Market – sentiment is neutral Intraday Action for Various Possibilities - 1) Opens Flat - a) Goes Up- Buy CE only if it crosses 34650 b) Goes Down – Buy PE if it falls below 34490 with a big strong candle or if you want to play safe wait for it to fall below 34350 2) Opens with Gap Up - a) But Below 34650 - Buy CE only if it crosses 34750 b) Above 34650 i) Its going up - Buy CE only if it crosses 34750 ii) Its going down -Wait for it to bounce back from 34650 and buy CE when crosses 34750 if it breaks 34650 - then no trade till 34490 and if it breaks 34490 with strong red candle then Buy PE below 34490 till 34350 and if it breaks 34350 then you can hold and wait to exit till 34100 3) Opens with Gap Down - a) Above 34490 - Wait for it to bounce back from 34490 and buy CE trade above 34650 only. If it breaks 34490 with strong red candle then buy PE at 34490 up to 34350 b) Below 34490- Keeps on falling then Buy PE up to a fall of 34100, support present at 34350 These Levels are for Safe Playing Traders Only and during Live Trading you can always make profit from Scalp Trading between these levels as per market volatility and your own risk reward capacity
NSE:BANKNIFTY
by FOMO_TRADER_
BANK NIFTY wait and see.Bank nifty could not cross above 100 period moving average in hourly time frame, Chinese declined consecutively for the 2 nd day some how its impact is visible in Indian market and others market too. Hang seng market has crashed below 200 dma. how far other markets will be untouched it is to be seen now. In hourly time frame of bank nifty diagonal is appearing as shown in the chart. Please observe if bank nifty holds on to the 61.8 percent retracement of recent rise as shown in the chart,if it does not then don't go long. the way hangseng market has crashed below 200 dma is little bit of concern. as our markets are trading well above 200 dma. if other markets react to Chinese factor, reaction may be swift. Hence time to be little cautious now.
NSE:BANKNIFTY
by bijoy2526