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Bank Nifty analysis and trade plan for tomorrow, 23rd MarchBank Nifty important levels and trade plan for tomorrow, Thursday, 23rd March In Daily time frame based on swing, Bank Nifty can be considered as correction of an uptrend, and we may expect probable move in both the directions tomorrow. Marked the range between 40089 and 39813 as no trade zone for tomorrow, and will avoid directional trade between these two levels. Will enter into bearish trade after bank nifty crossing the bottom of no trade zone, preferably with a price action. 39649, 39514, 39372 can be the support levels. For upside we will have to wait for bank nifty to cross 40089 with a proper price action, 40332 and 40538 will be the resistance levels. For any up move in morning session, we may expect a strong resistance from initial resistance levels. Oi data is bearish, can expect resistance from 40000 level with huge OI buildup in CE side, similarly support can be expected from 39500 with considerable OI in PE side. *Strictly a personal opinion, not at all a trade advice*
NSE:BANKNIFTY
by rahulbora11
2
Bank Nifty analysis and trade plan for Tomorrow, Friday, 10th MaBank Nifty is sideways to bearish in daily time frame, forming a double top, and if we see in 75 Minute time frame, a clear formation of “M” pattern is visible, and zone between 41193 and 41071 will be an important support zone, below this range we may expect a huge fall in Bank nifty in coming days. And above this zone there is a possibility of upside reversal. Initially in case of Nifty below 41193 we may plan a bearish trade with very limited quantity. and after nifty crossing 41071, we may go with complete lots. And from 41193 and 41071, we may expect upside reversal. So Bank nifty above this zone, we may plan for bullish trades, 41429, 41569, 41677 will be the resistance levels. Below support zone, 40911, 40708, 40482 will be the levels of concern in downside. Will not consider OI data today. *Strictly a personal opinion, not at all a trade advice*
NSE:BANKNIFTY
by rahulbora11
Bank Nifty analysis for tomorrow, Thursday, 23rd FebruaryBank Nifty analysis and probable important support and resistance levels for tomorrow, Thursday, 23rd February Bank Nifty is currently in downtrend in daily time frame, and can expect continuation in the same direction in coming days, but between this period we may expect to see a slight pull back in lower time frame. Tomorrow, we will avoid a directional trade between 40211 and 40061. And above this zone, we will go for a bullish trade preferably after a proper price action. 40427 and 40725 may be the target in upside. A reversal can be expected from both the levels, and in between these levels there may some minor resistance levels too. Currently, SGX Nifty is 100 points positive, and if it sustains up to tomorrow morning, we may expect to see a gap up opening, and we will only go for bearish trade, after BN crossing the bottom with a price action, in that case 39880 will be the first level of support. Form this level we may expect a bullish reversal. 39597 and 39295 can be the second and third levels of support in downside, but chances of reversal in bigger time frame from these levels are low. OI data seem purely bearish, with 41000 and 40500 in CE side huge OI build up, and can expect support up to some extant at 40000 and 39500 levels with some OI. *Strictly a personal opinion, not at all a trade advice*
NSE:BANKNIFTY
by rahulbora11
2