Nifty | BankNifty | FinNifty context with levels on chart.

  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’

  Market Context -   Sideways to bullish. Market is slowly going upside with all stocks doing pretty well. Hopefully bullish rally will continue. Also VIX is below 11, that shows no panic in market.   Nifty50 –  Today Nifty was flat to bullish and gave full swings in both directions of 100 points. Expecting same to continue tomorrow as well. Any big gap up, don’t chase it. Let Nifty settle down so that trade is in our favour. If we open around 17800, Nifty can face resistance as historically this level is very important which play as a good flip zone. We can plan for short trade at this level. Flat to gap down opening will again give opportunity for going longs with targets near 17800. Chart for reference-        BankNifty -     BankNifty was very bullish today and closed above 41200 comfortably. Flat opening can easily give us a long trade for targets up to 41600. We will only plan for short trade below PDL. Don’t take a random contra trade as market’s t

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 zone. Trade according to the pattern formed(bearish/bulli

  Market Context -   Context is still positive. RBI’s action to pause the rate hike this time gave a relief and it will definitely give more boost to the market. Broader market is showing some strength and it will reflect in our indices as well.   Nifty50 –  After a good bullish and trending week, Nifty may consolidate in this upcoming week. I am expecting Nifty to play in range of 17400-17800(+50, -50 points) weekly. For Monday, if market opens gap up, wait for market to settle for first 30 minutes and then plan trade accordingly. Upside I am not expecting much this week but still 17750-17800 is a first target. If market opens gap down near 17550-17560, which will act as a flip zone, we can wait for some bearish patterns and then plan for a short trade. Targets will be 17500, 17450.   Chart for reference-      BankNifty -     BankNifty’s rally was small relatively yet bullish. 41200-41250 is a good resistance level. Expecting a pullback before continuing further

  Market Context -   Expecting a sideways market. Also tomorrow is expiry day so market can be in a range.   Nifty50 –  Yesterday’s view was correct and Nifty has crossed 17500 and sustained there easily. Already Nifty has given 500 points in three trading sessions. Expecting it to spend some time near 17550 now. If Nifty opens gap up wait for at least 30 minutes sign as I am expecting a pullback now. If market starts going upwards , the immediate target will be 17650 and then 17800. Opening and trading near 17500 can give us a short term target of 17400 again.   Chart for reference-         BankNifty -     Today BankNifty was totally silent and was trading in only 300 points zone. Expecting a good rally on any side. Plan is simple and clear. If trading above PDH, wait for some bullish price action and we can plan for a long trade. Targets will be 41220, 41400.   If trading below PDL, let market form some bearish price action and we can plan for short trad

  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 PDC – Previous Day Close   NOTE: THIS BLOG IS ONLY FOR EDUCATIONAL PURPOSE. TRADE WIS

  Market Context -   Monthly both Nifty and Bank Nifty  has formed a Doji candle which is indicating that we may see a more upside moves in upcoming days/weeks. Overall context looks positive for our market. Nifty50 –  After consecutive three weekly red candles finally the last week went positive. Expecting this move to continue at least till 17500 and more. We can plan for a long trade if market opens flat to positive near PDH/PWH. Any small gap down around 17300, wait for price action to form and we can again plan for a long trade. For any downside move, PDL is the support level below which we can plan for a short trade. Moreover, data and chart is showing a bullish sentiment so will avoid any short trade. Chart for reference-         Bank Nifty -     Bank Nifty has crossed 40000 level and sustained there comfortably. I am hoping this upside move to continue at least till 41200.   If Bank Nifty opens around 40800 levels wait for price action to form before