iPrashantStock

iPrashantStock

BankNifty - mostly sideways market today, did not move much any side 40K=Support 40500=R. Flat opening→ Above 40400, it can move up to 40500-600, So, I will not buy but wait for -ve price action near resistance. Gap up - Will face Multiple resistance, so it may not move up rapidly, will see-ve price action near resistance. 40500=R1 ; 40900:R2. Gap down -...

iPrashantStock

BankNifty- Today closed in the. Still not buy condition till it crosses half of previous week red candle. Forming inside candle in monthly chart. So next if 39500 breaks more sell can come. Flat opening- 40500=R, so if it forms-ve price action at this level will sell. Gap up - Multiple resistance upside, so will see where it stops and forms-ve price...

iPrashantStock

Banknifty- Volatile day, profit booking happened today. 39500 is weekly support. If hold here the next it can break 39500. Flat Opening - 40200 = Hourly resistance, if it breaks then it can continue upmove but will face multiple resistance. Momentum could be slow. Gap up - 40500=Resistance, it can go up to there and then if any -ve price action formed, will sell...

iPrashantStock

Banknifty - Today is complete downtrend. 5 red candle formed continuously. Tomorrow is expiry it can cont. down initially, profit brooking can come anytime. Flat opening — It may cont. it's fall till 39600-700. so will sell it at open if 1 min-ve candle. But if not wait for some price action. Gap up - wait for price action, profit booking may come. but it is...

iPrashantStock

Banknifty - Today is volatile day, due to its previous trending day. It closes near 40500=support, so of You'tedhome?, days here and then break it more selling. Flat opening - Buying is slow but only after pullback near 40500-600. No hurry in selling will wait for price action. Gap up - 41K=Resistance’, it will not break this level easily so will wait for price...

iPrashantStock

21-FEB-2023 Tuesday Banknifty - Again a trending day, it was a good trend on the downside, but on the slower side. Flat opening - Two day trending market, support at 40500 so will wait for any pullback for buying side. Gap up- Will wait for price action for selling near 41K if gap up opens near it. So, no hurry in buying. Gap down - Due to cont. downtrend from...

iPrashantStock

Banknifty - After many days, it broke the lower range after giving upper side breakout. Flat opening - If it goes bore then let it go. Near 41200 300, if forms-ve candle & pullback, can go for sell. Gap up - Multiple resistance, so will see price action if is min green candle, then no sell but if not wait for the price action. Gap down - Next target will be...

iPrashantStock

16 FEB-2023 Thursday Expiry Banknifty - It crossed the resistance, but it was in the end. It is now near weekly resistance. Tomorrow is expiry, so will see. Flat opening - wait for some time, on pullback if crosses 41800 will buy it, target = 42,000. Gap up -42K will be resistance, so will sell if - Ve candle formed. Else look for buy on reversal. Gap down...

iPrashantStock

BankNifty→ After moving down, it takes reversal in move up. Gives a positive closing. Near 41800=Resistance, but still in the range. Upper side breakout may happen. Flat opening - Due to continuous upmove, no buying on feat, unless it gives some pullback. Breakout is possible 4th time coming near resistance. Gap up → Resistance already broken, will wait for...

iPrashantStock

According to previous it was decided to sell whenever it makes negative candle near 37000. And this happened today. Banknifty Flat opening - Will wait for retracement before selling again. No immediate trade due to 1000 points move in the last hour. Gap up - Will wait for shooting star or 5 min red candle and then sell again but for smaller target. Gap...

iPrashantStock Updated 

Today, Banknifty opened gap down around 600 points and in the last hour it forms some green candles and close near 36700. Flat opening - If it moves up and go near 36900 and 37000 will look for selling on any negative price action. Sell on 5 min red candle with high of the candle will be SL and target will be 1:2. Gap up - Wait for negative price action...

iPrashantStock

Banknifty is still in the range from the last six days. Flat opening - Sell below 37400 with 5 min candle high SL and Target = 37200. Gap up - Wait for price action because it can still be in the range due to gap up. Gap down - Sell on any pullback for the target 37000. If big gap down happens then will see the price action before any trade.

iPrashantStock Updated 

NSE:BANKNIFTY BankNifty is in range from the last 5 days, so there is a probability that it will can breakout anytime soon. It touches 37900 multiple times and today it closes near 37800 so breakout is possible. Buy above 37900 for target upto 38200. If it opens gapdown then look for pullback and if it breaks 37500 then selling could come upto 37100. Good luck!