Bank Nifty Analysis post expiry!If you look at 30 min chart of Bank nifty for today session it was clear from start of the day that buyers are going take the session look at first 30 min candle a pure "bullish wick reversal pattern" it confirmed that options buyers will take over the day!!
Already discussed on 31st Jan analysis keep eye on opening for confirmation of trade. "Check" 45400 ce was trading at 200 at 10 am at 10.15 am it closed at 556 a net 323 points candle it makes your day!
lets look for tomorrow might be same action as today as bank nifty was trading in range in later sessions. But also failed to break resistance twice May take jump from last support at 45600. Still bullish side are bit stronger.
Gap down opening can change the view from bullish to bearish.
Resis - 46200,46550
Supp - 45670,45400
Wickreversal
Bank Nifty created pattern will it work or not?
As chart shows a flag pattern has been formed in 30 min time frame and also bank nifty traded tightly today. which conclude that this range can burst out either bullish or bearish.
Another thing to notice a bullish wick reversal candle has formed which gives a hint for bullish side strength into bank nifty
May be a gap opening for tomorrow also expecting a trend day or more tight range day. Trade on retest only avoid flase breakouts
Resistance : 45600, 45800-900
Support : 45400, 45139
Note : Do your own analysis before making any trading decisions.