As discussed , Bank Nifty moved above our resistance level and found support whole day which provided ample opportunities to short puts whole day. Overall good day for option sellers.
Decision Range for the day
32321-32362
Resistance for the day
32486
Support for the day
32243
Expectation
Range bound , some selling can be witnessed in last hour....
when nifty cross series of weekly tops or rectangular channel its always shown higher prices in history so stay on buy side since main trend up,nifty will show big advance coming days
LONG BULL RUN STILL CONTINUES
OFFERING NICE BUYING OPPORTUNITIES ONLY TO BE TO BE GRABBED BY BRAVE ONES .
TWICE OR THRICE WITH NICE DIPS, MARKET REALLY HAD OFFERED BUYING OPPORTUNITIES.
IN A WAVY FASHION PRICE CONTINUES TO RISE.
LAST FRIDAY IT WAS NR7 DAY FOR NIFTY
SOME POSSIBLE FURTHER BREAK OUT EXPECTED
HOWEVER IF MARKET CORRECTS IT WILL BE A NICE OPPORTUNITY...
I am looking this has formed an continuation pattern , there is no looking back weather it will correct for a day , all the price movement information so far is
Giving one clear message , Expect a fast move form this level and i am looking termination near 13500+,
Like always, copy the levels and trade on 3 mins time frame.
If you haven't traded with the Zones yet, What are you waiting for??
Check Historical idea on 3 mins time frame.
Dont be a Bull. Dont be a Bear.Just be a Hare.
Like always, copy the levels and trade on 3 mins time frame.
If you haven't traded with the Zones yet, What are you waiting for??
Check Historical idea on 3 mins time frame.
Dont be a Bull. Dont be a Bear. [bJust be a Hare.
On Friday, Banknifty (BNF) behaved strong. For last few days, it was Nifty which took the lead but on Friday it was BNF’s turn. So it finished as a strong green candle albeit with a very small range of 243.9 points. Nifty too moved in a narrow range of 41 points. So, how it might move on Monday and day after? If we look at daily chart, BNF yet again made higher...
Nifty touched its target near 12290-300, spend the most part of the day consolidating in a narrow 43 points range.
Has risen up sharply, a pull back can be expected.
Please check the chart for important levels.
Option based or hedged strategies are relevant and relatively safer for such times, if you want to know more about how option (calls/Puts) ...
You will need a plan for short selling. Understanding the sellers' and buyer's flow by using volume herein. I am not saying start shorting nifty but, here is clear resistance where profit booking can come. first look past complete search of spot nifty as given below chart....
Resistance(target) is still far away which at 12286 nearby (yesterday's high was 12237)
In the short term, wave(direction) seem to be changing for downside move.
The past two days movement resulted in wedge formation. The final leg of the wedge will breakout up side to the levels of 32500 and then reversal will start.
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![NIFTY: [Positional] NIFTY Assumptive Shooting Star Pattern](https://s3.tradingview.com/o/oA0lMixO_mid.png "[Positional] NIFTY Assumptive Shooting Star Pattern")
