Nifty and BankNifty Chart for 13th April 2023

Market Context - Sideways to bullish. Tomorrow is weekly expiry and I am expecting a one side trend on either side given that market is slowly going up yet consolidating with moves in both directions this week.

Nifty50 –

Today Nifty has reached and crossed its important level of 17800. I mentioned yesterday that a flat opening can give us a trade for long up to this level.

Nifty is trading in a bullish channel so we can take help of it to take trades at the end zones of this channel.

A flat opening at 17800 can give us opportunity to go longs. We can book our profit in every 40-50 points movement of Nifty. Targets for tomorrow 17850, 17900.

If Nifty opening gap down and started trading below 17750 for thirty minutes, we can plan for a short trade and expecting at least 100+ points fall from there.

Chart for reference-

BankNifty-

BankNifty kind of sideways yet slowly closed near day high. Expecting same for tomorrow.

Any big gap up, don’t chase it. Let it settle down for first thirty minutes and then we can plan accordingly.

Flat to positive opening can give us a long trade with targets of 41750, 41900.

We can plan for short trade below 41400-41420.

Between PDH and 41450 we wont get much trades in our favour and it will tend to hit the stop loss.

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.

Comments

Nifty and BankNifty Chart for 11th April 2023

Market Context - Sideways. It will play in range. Long at support regions and short at resistance regions. Simple. Nifty50 – In last blog I mentioned that Nifty may consolidate now. Same happened today. Expecting the same tomorrow as well. No big one sided moves but it will be in range. Hence long/short at S/R zones only to get favourable R: R. If Nifty opens around 17600, we will plan for long trade with targets 17650 and 17700. 17650 can act as a flip zone hence suggesting to book partial profit here if Nifty shows reversal sign. If Nifty opens gap up around 17700, after some bearish reversal signs, we can plan for a short trade. Chart for reference- BankNifty - As I mentioned in last blog to not chase the gap up as it can be a trap, exactly same happened. BankNifty was more bearish today compared to Nifty and give good swing moves. Flat opening near 40850-40900 will act as a good flip zon...

Nifty and BankNifty Chart for 5th April 2023

Market Context - Positive to sideways. Nifty50 – In gap up scenario, wait for Nifty to settle around PDH and then only plan for a long trade. 17480-17500 is a good resistance for Nifty where we can see at least a good rejection. In gap down scenario, let Nifty start trading below the PDL, and we can plan for a short trade with targets of 17200, 17100(one gap pending to be filled). Chart for reference- BankNifty - BankNifty is showing good strength compared to Nifty. I am expecting at least 41200 in BankNifty and then a pullback before continuing further. Chart is looking simple and will plan for long trade above PDH and short trade below PDL. In between, the market will be volatile. Chart for reference- Abbreviations used in Chart- PDH – Previous day High PDL – Previous day Low PWH – Previous Week High PWL – Previous Week Low ...

Nifty and BankNifty Context with levels for 3rd August 2023

Recap – Today’s market has shown some good amount of sell off. My bias for today was sideways to bullish but market went totally opposite but I managed to ride it as I always mention that below a particular level we can go for short trades. Hence be prepared with your levels for both sides. The levels for short given in all three indices has worked pretty well. Market Context for Tomorrow – Always be prepared for both side moves with proper levels. This makes our work easy during live hours of market. For tomorrow my view is to work on sell on rise till a particular level which I mention separately in indices below. Also GiftNifty trading in negative at the time I am writing this blog indicating we can open gap down and then at every rise we can plan for sell. Nifty50 – For tomorrow, we will be only bullish if Nifty sustains above 19620. Otherwise we can again see sell on rise till this level is not broken on upside. If market opens flat and we see Nifty showing weakne...

Nifty | BankNifty | FinNifty context with levels on chart.

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