As analyzed, BankNifty opened positive and we saw both side's crazy moves in the morning. I have suggested buying 33000 CE around 10:00 in the public channel which went from 170 to 230 odd levels. Overall a positive day as mentioned in the morning.
TradePro Premium members bought BN Fut around 32500 which easily gave 200+ points profit. SpanAttack subscribers...
Today will be gap up opening expected near 32500 level. If banknifty trading above 32500 level then possible further 400-500+ points upside rally in first half session. 33000 level will act as an upside resistance more chances it will take some correction from this level. In case it trading above 33050 then strong upside further 400-500+ points rally expected.
Wait for breakout.
simple Ascending triangle Pattern.
15 min time frame.
Arrow ( 1 ) : 6.94% swing
Arrow ( 2 ) : 3.46% swing
Arrow ( 3 ) : 2.44% swing
Arrow ( 4 ) : 1.64% swing
This Range contraction will be followed by one big move.
Bank Nifty Trade Plan for 06 May 2021
What Chart Says:
Bank Nifty formed a good bullish pin bar candle on the daily time frame.
Behind the scenes:
Advance to decline ratio is around 44:5 in nifty 50
FII has pumped out -1110.50 CR & DII data has pumped out -240.61 CR
European markets are traded in green at the time of review
S&P 500 were trading bullish at ...
As per my analysis, BnkNifty will Open GAP DOWN.
32900 is strong Resistance.
32450 to 32500 is strong Support.
If there is Gap Up opening above 32950 then GOOD Upward rally can be seen.
If there is Gap Down opening and if 32450 level is broken then GOOD Downward rally can seen.
Market can be seen sideway between 32450 and 32900 levels.
These levels are for educational purposes only.
These are the Bank Nifty levels for 6th and 7th May according to me.
However, Tomorrow is expiry so we will see support and resistance at every 500 points.
Hello Friends! Good Morning
Banknifty Analysis for today
> PCR is below 1.25 in banknifty.
> OI Support is @ 32000 and OI resistance @ 33000
> Fii sold less compared to day before yesterday and dii have more interest now in the cash market.
Fii sold very less in the index future.
> European market and US market are down. Asia is getting pull back in some...