Price is in a range, yesterday i marked some levels to show the SL zones of retailers but forgot to change options from private to public, no worry still you can use these levels till new year, as due to Christmas and New year big sharks are not in market but still there are always some Crocodiles to eat your money so always stay alert.
Also if you want me to...
If banknifty hold 43800 level for 30 minute then it may fill the gap, that is 43800 to 44200, on the other side on day chart we can see Half head and shoulder pattern. So trade according to levels.
Nifty resistance level 19800-19820, a 15 minute candle need to be hold above 19800 below this market will be sideways to bearish. Bank nifty is looking more bearish than nifty but still only above 44100 buy will be safe.
Market is bullish, so untill market dont close a 10 minute candle below 19670 dont go for sell, wait for levels, above 19670 Buy on dip, and always use SL.
Huge gap up today in market, important resistance levels are broken but because if gap market may behave like today with not much movement as we see in bank nifty, but with levels you can trade for tomorrow. I m not SEBI registered so do your own analysis too. If market broke these supports nifty might came to retest 19520 -19550 level in few days.
I wont suggest for long in market because both nifty and bank nifty are at their important resistance level, for bank nifty 44000 to 44200 is resistance and for nifty 19580-19500 is resistance zone and 19400-19380 is support. May be till this week expiry market could be range bound, till these levels, avoid BTST. This is my view on market do your own analysis too.
Nifty needs atleast a 15 minute candle close above 19480 because on big time frame 19500 is a strong resistance. for selling below 19420 is good otherwise market will close between 19420 and 19500.
If nifty hold above 19480 (Chances are for gap up) with sl of 19420 you can go for long, selling will be only below 19380. Why 19480 because 19480-19500 is major resistance as we can see clearly, from last 4 days market is taking rejection from this level. Also 19400 should became new support for nifty. for Bank Nifty major support will be 43720-43750 above this...
Market is trying to hold this level, for Nifty 18800-18750 is major support, if market hold below 19200 in a day candle only then we can think for selling only for swing and intraday, otherwise this is just retracement and profit booking. below 19300 their is so many supports for market.
