Nifty | BankNifty | FinNifty context with levels on chart.

  Market Context -   On weekly basis now we have three consecutive red candles. It shows the strength of Bears who are selling/shorting every bounce. Bulls are not able to push market upside much and it get sold off quickly. A good pullback is pending maybe we can see this coming week and then a sideways market. Monthly expiry is on Wednesday so expect a good volatility. Nifty50 –  Nifty has again tested 16950-16900 levels. This levels needs to be defended and sustained for Nifty to start an upside rally. RSI (Relative strength index) is showing kind of a divergence in daily chart, hopefully a bullish to sideways we can see in upcoming week. Below 16900 which is around PDL, again Nifty can go till 16800 and this time maybe beyond that as well. For any upside move, Nifty has to trade above 17000 and sustain at least there. Chart for reference-        BankNifty -     BankNifty will react more on the foreign bank issues of USA and Europe. Any bad news will again

    Market Context -   Today was a full swing day but volatile. Same thing goes for tomorrow as well. Stay light on the quantity. Just work near good and significant levels as R:R will be good.         Nifty50 –  As I have written yesterday that 17200 is a good resistance level and Nifty exactly started falling from there and closed near day low. Any flat opening near PDL can again give a long opportunity till 17200 levels. Chart for reference-         BankNifty -     BankNifty also tested our target and resistance  levels of 40200 and then a sharp fall. So tomorrow also if we get flat opening we can plan for a long trade after seeing price action formation. Chart for reference-      Abbreviations used in Chart-   PDH – Previous day High PDL – Previous day Low PWH – Previous Week High PWL – Previous Week Low PDC – Previous Day Close   NOTE: THIS BLOG IS ONLY FOR EDUCATIONAL PURPOSE. TRADE WISELY.

  Market Context -   Tomorrow market will mostly react on the outcome and commentary of FOMC meeting in USA. Volatility will be high. Better to trade on light quantity or no trade at all if the market will be out of pattern.                         Nifty50 –  Same levels will continue for this whole week. Today was sideways and Nifty was trading exactly between the levels marked on the chart. 17200 will be a good resistance and 17100 is a support as of now. This 100 points zone is just full of volatility.   Let market make some pattern and we can trade accordingly. Chart for reference-        BankNifty -     Today Banknifty was also trading in almost 150 points zone from 39850- 40000. It can act as a good flip zone. Anything above and below this zone can give us better trade opportunity for tomorrow. Chart for reference-      Abbreviations used in Chart-   PDH – Previous day High PDL – Previous day Low PWH – Previous Week High PWL – Previous

Market Context -   Sideways to Bullish. As expected and mentioned yesterday that market can be sideways to bullish. Ultimately it did the same and closed on positive side. Tomorrow again we can see a similar pattern.                             Nifty50 –  Levels given yesterday worked beautifully. Same levels will work for tomorrow as well. Any flat to a bit gap up around 17100 levels can again give a long opportunity for the targets 17200 which is a very good resistance as of now. We can plan for downside only if market goes below 17050 again and then we can see Nifty again at 17000 and 16950. Chart for reference-        BankNifty -     Again Bank Nifty was stronger compared to Nifty. If there is any big gap up, wait for BankNifty to settle for first half hour. 40000 is a good resistance as well psychological level where we can see some sell on rise kind of market. If market sustain at that level, then we can plan for long trades upto 40300 and 40400. Any

  Market Context -   Sideways to Bullish. Volatility is so high that market is giving good swings on both sides as I mentioned in last blog. Same is expected for this whole week. Global markets are trading in green so expecting our market to open gap up. Still sell on rise is working perfectly.                 Nifty50 –  Today there was selling pressure from first minute in Nifty. And then again it recovered whole downside movement almost. Tomorrow after opening gap up, if we get Nifty around PDC (17000-17020), wait for market to sustain there and then we can plan for long trades. Target can be around 17100 and 17150. Any bad news or Nifty starts trading below PDC, we can again see levels of PDL and PWL. Chart for reference-        BankNifty -     BankNifty was stronger compared to Nifty today. It didn’t breach its yesterday lows as well. Flat to bit positive(50-60) points opening can give a good long opportunity with targets of 39600,39700. Any downside rally

  Market Context -   Sideways. Again market can take a swing on both side like it did on last Friday. Global cues are negative. Also SGX Nifty showing a negative opening so expecting a gap down opening tomorrow.                               Nifty50 –  If opening a gap down and we get Nifty around 17000-17020, wait for price action to form. We can see a rise first up to 17100 and then 17150. Any downside move which can make a trend will come below the PDL. First target should be around 16900 and then PWL. Chart for reference-        BankNifty -     If any big gap down of 200-300 points, don’t chase it. Let market settle in first half hour. Gap down can again create a long opportunity.   If market has to fall and make a trending day, I am expecting it below 39200.   Chart for Reference-      Abbreviations used in Chart-   PDH – Previous day High PDL – Previous day Low PWH – Previous Week High PWL – Previous Week Low PDC – Previous Day Cl

  Market Context -   Sideways to positive. Global markets opened positive and trying to sustain there. Also SGX nifty is trading positive at the time of writing this article. Definitely it will give our market also a positive opening if things remain positive till morning.                             Nifty50 –  Nifty has given a decent rise from a good support region of 16800-16850 today. It can continue tomorrow as well. If Nifty opens flat to bit positive, we can see a good rise upto 17150. Follow the trend line drawn on the chart for upside levels. By any chance gap down or if price action shows a bearish sign (big red candle in first 30 minutes, shooting star etc), again we can go upto PDL. Chart for reference-        BankNifty -     If opens flat around 39200 level and sustain it for first half hour, Bank nifty can easily reach 39600. Any big gap up, don’t try to chase the market as it can again start sell on rise from PDH. Below the trend line dra

Market Context -   Bearish to sideways. Sell on Rise will work beautifully. As per SGX Nifty we will be opening gap down. Let market settle in first half hour. Any rise can give an opportunity to short and ride it whole day. Pullback may come but data is showing otherwise.                             Nifty50 –  It was a good trending day. Now Nifty has closed below the 17000 which is a physiological level. More downtrend is possible up to 16800 at least for tomorrow. If we get Nifty around previous day close, let it make some price action for short and we can trade accordingly. 17100 is zone to short the market again and get a better risk reward. Any buying/long we can only see above PDH and levels around 17180-17200. Chart for reference-        BankNifty  -       Same goes for BankNifty. If we open around PDC or PDL, wait for price action to form for any fresh shorts. As market is continuously falling, we may see a profit booking/pullback anytime.   If

Market Context -   Sideways. Now market is at the stage where it can give a pullback and then again come down. Bears will sell on every rise. So there will be some tussle between bulls and bears at least this week which will make market more of a sideways.                             Nifty50 –  The zone between 17145-17185 can act as a resistance. We can plan to take a counter trade here on downside. Scalping can be best for 2-3 days. Below todays’s low which is around 17000, we can again expect a good fall of 150-200 points. Chart for reference-        BankNifty -     Sentiments are bad for banks already. Be cautious before going long. Also any strong selling can come below PDL. 39600-39700 is a zone which will act as a resistance if market opens gapup.   Chart for Reference-                Abbreviations used in Chart-   PDH – Previous day High PDL – Previous day Low PWH – Previous Week High PWL – Previous Week Low     NOTE: