Niftybank
Bank Nifty Intraday Trade Setup for 10th July 2020Good Morning friends,
We had seen lot of up and down move in the index. The index is trading on the dynamic resistance which has taken from an uptrend channel. The index will test 24,000 if the current resistance breakout. Stop Trading against the trend. The index is still bullish and there is lot of chances to test 24,000 Level.
Trade setup
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Buy: 23100 Stop loss: 22900 Target:23270/23400/23600
Sell:22700 Stop loss: 22900 Target:22520/22370/22100
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.
Good Luck and Happy Trading
Virendra Pandey
Bank Nifty Trading Strategy for 10th July'2020#banknifty:- Nothing has changed, the structure is still bullish (last 2 days repeating the same thing)
SL for all long trades:- 21,350
Decision Zone 22,691-22,919, 228 point no trading zone.
Resistance Zone:- 23,000 - 23,100
Suupport Zone:- 22,022 - 22,170
52W H :- 32,613
52W L :- 16,116
38.2 % 22,428
50.0 % 24,365
61.8% 26,311
Wave 2 is 21,967 to 17,195, so 50% of this wave is 24,398 which coincides with 50% of the fall 24,365.
As per wave structure, the next logical target above 22,418 is 24,365.
Expiry Special Analysis for 9th July'2020 #banknifty
#banknifty:- Nothing has changed, the structure is still bullish.
SL for all long trades:- 21,768
Decision Zone 22,832-22,752
Resistance Zone:- 23,000 - 23,100
Suupport Zone:- 22,374 - 22,442 / 22,022 - 22,170
52W H :- 32,613
52W L :- 16,116
38.2 % 22,428
50.0 % 24,365
61.8% 26,311
Wave 2 is 21,967 to 17,195, so 50% of this wave is 24,398 which coincides with 50% of the fall 24,365.
As per wave structure, the next logical target above 22,418 is 24,365.
Bank Nifty Trading Strategy for 7th July'2020#banknifty:- Pls avoid shorting.
Decision Zone
Resistance Zone:- Don't see anything :) till 24,365.
52W H :- 32,613
52W L :- 16,116
38.2 % 22,428
50.0 % 24,365
61.8% 26,311
Wave 2 is 21,967 to 17,195, so 50% of this wave is 24,398 which coincides with 50% of the fall 24,365.
As per wave structure, the next logical target above 22,418 is 24,365.
Bank Nifty - Build up near resistanceNote: This is for educational purpose only.
There seems to be a build up near resistance of the channel in BankNifty. Not sure if this is accumulation or distribution. RSI is above 60 which indicates bullish strength. However, further up move can be seen on breaking the channel.
Bank Nifty Trading Strategy for 7th July'2020
#banknifty:- Pls avoid shorting.
Decision Range
Resistance Zone
52W H :- 32,613
52W L :- 16,116
38.2 % 22,428
50.0 % 24,365
61.8% 26,311
Wave 2 is 21,967 to 17,195, so 50% of this wave is 24,398 which coincides with 50% of the fall 24,365.
As per wave structure, the next logical target above 22,418 is 24,365.
#Banknifty Next Week Analaysis 6th to 10th July'2020.#banknifty is struck in broader range of upside and downside from 24th June to till date.
The decision zone is , upside +ve and below -ve.
The wave structure is not damaged and is intact for the last 8 days, decisive big move either side is on card:-
Upside target of Wave 5:-
61.8% 23,420.72
100% 24,009
138.2% 24,597.28
The whole structure will get damaged below 20,929
Note:-
Daily Chart:- Medium-term trend is down, the short term is up
2 H Chart:- consolidation / neutral
1 H Chart:- Trend is +ve but losing momentum 20,500 will be the pivot point.
Trading is all about making money and nothing else. Trade what you see, not what you think, trade the market, not the forecast, happy trading🤹.
Bank Nifty Trading Strategy for 3rd July'2020#banknifty is struck in broader range of upside and lowerside.
The decision zone is , upside +ve and below -ve.
Play the range for swing trading until you have a range breakout or breakdown.
The positive structure is still intact with an upside target of 23K is still valid.
Tarde light till we have direction in place.
BANKNIFTY Expiry Special Analysis for 2nd July'2020.251,894 (20.05%) increase in #banknifty future with 607.45 (2.84%) shows huge long buildup in the system.
BN future levels added 6841 contracts added.
21,526 is the immediate big support in #banknifty
Immediate resistance for expiry is 22500, if broken then the target is 23,536.
I wish you all a happy trading.
Trading is all about making money and nothing else. Trade what you see, not what you think, trade the market, not the forecast, happy trading🤹
Bank Nifty Trading Strategy for 1st July'2020#banknifty consolidating is 900 points range from 20,900 to 20,800 in the last couple of days.
I have reduced my long position today from the index, any breakdown or breakout has to be traded.
SL of the directional trade can the decision zone (which has been kept intact today).
Don't play the trend line, what for zone breakdown confirmation before going short.
I wish you all a happy trading.
Trading is all about making money and nothing else. Trade what you see, not what you think, trade the market, not the forecast, happy trading🤹
Bank Nifty Trading Strategy for 30th June'2020As previously stated for the last 4 days, the wave structure is not damaged and is intact for the last 3 days, decisive big move either side is on card:-
Upside target of Wave 5:-
61.8% 23,420.72
100% 24,009
138.2% 24,597.28
The whole structure will get damaged below 20,929
Decision Range , during market hours, try to keep the focus on the zone of confluence, where bull vs bears will have a fierce battle.
If the trend line is broken, you know the target, that's on the chart.
I wish you all a happy trading.
Trading is all about making money and nothing else. Trade what you see, not what you think, trade the market, not the forecast, happy trading🤹
will upper circuit on NIFTY 50 ?AS WE SAW IN LAST SOME MONTH WHEN LOCKDOWN EXTENSION HAPPEN NIFTY FALL SAME DAY
BUT ASS FAR MY KNOWLEDGE LOCKDOWN WILL NOT CONTINUE AND, OPEN WILL SOME TERM AND CONDITION
SO BE READY TO SAW NEW CHANGES IN MARKET.
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Bank Nifty Trading Strategy for 29th June'2020The wave structure is not damaged and is intact for last 2 days, Monday can be decisive big move either side:-
Upside target of Wave 5:-
61.8% 23,420.72
100% 24,009
138.2% 24,597.28
The whole structure will get damaged below 20,929
Decision Range is 21,086-20,916, during market hours try to keep the focus on the zone of confluence, where bull vs bears will have a fierce battle.
If the trend line is broken, you know the target, that's on the chart.
I wish you all a happy trading.
Trading is all about making money and nothing else. Trade what you see, not what you think, trade the market, not the forecast, happy trading🤹.