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Bank Nifty Trade Setup (09-June-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. t As mentioned in June 7th Trade setup price is moving in Ascending triangle pattern and to it took support near trendline. Trade setup for tomorrow: As we know patterns can fail today price took support near ascending trendline 1.) If opens flat and doesn't hold this trendline will look for short for target of support (43840,43700 and 43650. 2.) If it takes support at trendline will look for buying for target of 44141,44231 and 44300 or PDH. 3.) No trades in gaps only after solid setup. as i loose most in gaps some find easy to trade gaps. but they doesn't suit me. so will wait for good setup is there will be,otherwise no trades.
NSE:BANKNIFTY
by TradeInsights
BANKNIFTY--Bullish Gap or Bearish Gap??observations:: We have resistance in the range 44270-44255, if failed to resistance price will reach 44340-44310 range. we will observe some consolidation in this area 44250-44360 range. we have support @44150-44140 range ,if failed will go for short. we have bearish gap @44450 range... if price breaks the resistance @above zones.. will observe gap may fill... we have bullish gap left @43880-43900 range.. will again push the price to higher levels.
NSE:BANKNIFTY
by IIT-Trader
9
Bank Nifty Trade Setup (07-June-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. All indices are range bound from and only give risky trades no clear directions. and boring price action i avoided trading due to work and whenever i checked there was no movement in price. If there were no gaps there could be good setups as price is in Ascending triangle and rejecting Resistance and take trendline support. Support is placed at 44140, 44000. Resistance is placed at 44500,44240. For tomorrow's setup: 1.) If opens flat and takes support at 44240 for target of 44500. 2. if there are any gaps will only trade if there will be good setup. on lower TF. No trades if there will be another range bound action.
NSE:BANKNIFTY
by TradeInsights
BANKNIFTY AnalysisObservations:: ----->>Look BANKNIFTY yesterday taken the support from trendline and showing bullishness. the price is completely trading in a range of previous day bearish candle. If this continue to move upside will observe a bearish gap be filled. If price breaks the trendline, we have strong support @ 43400 level, may again push the price upside. Keep watch this level. Sell Plan:: If price breaks the low @43700 level, and gives us pull back will go for short until 43400 levels. Buy Plan:: If price breaks yesterday high, we have an immediate resistance @44200 range, which is difficult to enter for long, until this breaks. If price breaks this range and gives us pullback will enter long, for target of bearish gap. If we use Fibonacci levels, if we draw it from previous low to high, which is exactly @ 0.6-0.5 range only. still the price is in uptrend only, no sign of bearishness. will be on buyside from 43400 level, until it breaks. If price is again consolidation at 43700-43400, price have a chance of breaking downwards, wait until it breaks strongly. If price not break this level, enter for long on retracement. draw trendline on the opposite side as well, then only look for buyside confirmation.
NSE:BANKNIFTY
by IIT-Trader
06/06/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONEHello Guys, Good Morning everyone, According to the data today market is going to open Gap-Down After A Gap-Down opening if Banknifty sustain Last day Above 44300 and taking Support from 44300 then open target for T1-44400,T2-44500,T3-44600 If the Banknifty after a Gap-Down opening sustain Below 44200 and taking resistance below 44200 then the open Targets for T1-44000,T2-43800,T3-43600 Major Levels 44000,44300,44200 If the market stande in this area of 44200 to 43800, then it is possible that even today the market will remain in the range.
NSE:BANKNIFTYLong
by mr_bull10
05/06/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONEHello Guys, Good Morning everyone, According to the data today market is going to open Gap-up After A Gap-up opening if Banknifty sustain Above 44200 and taking Support from 44200 then open target for T1-44400,T2-44500,T3-44600 If the Banknifty after a Gap-up opening sustain Below 43800 and taking resistance below 43800 then the open Targets for T1-43600,T2-43400,T3-43200 Major Levels 44000,43800,44200 If the market remains in the range of 44200 to 43800, then it is possible that even today the market will remain in the range.
NSE:BANKNIFTY
by mr_bull10
Bank Nifty Trade Setup (05-June-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. For Tomorrow's Trade Setup: 1.) If opens flat and breaks Triangle on either side up or down i will wait for price to sustain above nearby horizontal resistance or support levels as they are so close to triangle breakout on upside and downside. 2.) Once if triangle break out will buy above 44060 after retesting of this resistance. If break down will short below 43715 after price retest this level. 3.) If any gap ups will look for retest of those resistance or support level and will buy accordingly or only after price action is formed. Also price is moving between 250 - 300 level from 43715 to 44060. and above this it isn't able to hold if there is no clear trend and keep moving between this range will look for buying near support and sell near resistance.
NSE:BANKNIFTY
by TradeInsights
BANKNIFTY--Trending or Ranging??Observations:: --->>Price is in Range Strong Resistance @44160-44080 acts as strong support, will observe a trending Bullish Expiry. If the same again acts as Resistance will observe Trending bearish expiry, if all this wants to happen price has to break 44250-44200 level. otherwise again range bound. ------>> Facing resistance in the zone 44460 Yesterday showing some bearish pressure ,and today price again closed in the same zone. price is taking the support @44250-44200 range. If this range is broken, we can expect the bullish gap be filled, pullback is needed. After finishing the gap, if the support zone @ 44250-44200 is acting as a resistance, Tomorrow is expiry, if price again rejected by 44160-44080 zone, price strongly fall until 43400 keep look at this level. If the same zone acts as support again will observe a new bullish momentum. we don't have a clear Targets and stop loss points, above All time High, so taking trades without confirmation is risky. Note:: Clearly we have previous strong resistance @44160-44080 level, If acts as support will go for buying up to 44250, 44450 only, above that we don't have any obstacles to resist. But keep in mind key level @44250-44200, if this level rejects, then only fall may happens. Price is ranging in 300 points only.
NSE:BANKNIFTY
by IIT-Trader
2