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BANK NIFTYImportant levels for 03/11/2022. Another low volume day, the sellers were in control but absence of large volumes the price could not go anywhere. For tomorrow, we have to look at the index with a complete neutral view. The fact being we are trading side the weekly VA and unless we break it on the downside we cannot short the index. Once we break the VAL (weekly) @ 41250, we immediately run into a buyer reference zone 41085-41089. So from the looks of it, shorting does not give us a good RR. We can look for shorts once we sustain below 41034 for targets of the old buyer reference @ 40666-40733. Longs we can take above 41570 for targets of 41750-41850.
NSE:BANKNIFTY1!
by deepss4u
NIFTYImportant levels for 03/11/2022. Another low volume day with sellers probing the price down but limit buyers absorbing all the selling. But at CMP we cannot be sure who is in control at this moment. For tomorrow once we open flat and break 18110, we can short with a 25-30 point SL for targets of 18053 followed by the buyer reference at 17965-17979. Longs can be avoided unless we break 18238 on the upper side. But if we see a gap down at the open, we can look for scalps.Will update if we see any good set up on the buying side.
NSE:NIFTY1!Short
by deepss4u
NIFTYImportant levels for 02/11/2022. We opened higher sustained above it saw the old seller reference holding and it was followed by a retest of today's low and again strength was seen from the buyers to end the day inside the old seller reference. Now if we consider the second half of today's session the maximum volumes are concentrated at the tops. So, if we open flat and move above the seller reference zone 18201-18235, longs can be taken with SL of 18200 for targets of 18295 followed by the old seller reference zone of 18327-18357. If in case we trade lower, will give shorts a miss in nifty and rather look for shorts in BN as it looks far more weaker than nifty. Only i we open with a gap down and trade below today's low @ 18112 will take shorts for targets of 18060 and the old buyer reference of 17965-17980.
NSE:NIFTY1!
by deepss4u
BANK NIFTYImportant levels for 02/11/2022. As per our analysis from yesterday we expected the old seller reference zone 41750-41850 to hold and we did exactly see that and we did achieve all our targets. We have closed almost at the same levels as yesterday. If we open flat tomorrow and break today's low at 41330, we can take shorts with SL of 60 points and look for initial targets of the buyer reference zone 41085-41089. If we keep trading below it the old buyer references of 40666-40733 opens up. But if we open flat and trade higher, we can take longs above 41570 with SL of 50 points for targets of 41750-41850. Sustaining above these levels can see another 200 point move and all we need to do is keep trailing our SL.
NSE:BANKNIFTY1!
by deepss4u
NIFTYImportant levels for 01/11/2022. We saw a complete different PA as compared to BN. We opened higher and did not test the open after the first 5 minutes, this shows the strength of our primary index. Yesterday we had our analysis done and we wanted to gauge the strength of the buyers and the buyers did succeed today. For tomorrow, I would still prefer to wait before jumping in for longs unless we sustain above the old seller reference zone 18084-18118. The targets on the upside shall be 18196 followed by another seller reference at 18220-18234. Will be taking shorts in case of a gap up near the seller reference areas or if we witness a slight gap down open and then we break today's buyer reference at 18065-18080. The targets to look forward will be 17996-18012 followed by 17926.
NSE:NIFTY1!
by deepss4u
BANK NIFTYImportant levels for 01/11/2022. An inside day, with low volumes and hardly any continued momentum on either side. With ATH in sight we need good volume support to break and sustain above it else the old seller reference zone at 41750-41850 will see fresh sellers coming in. For tomorrow, the important level will be the seller reference area of friday's session @ 41566-41633. If we see price unable to break above this, we can add shorts with a 50-60 point SL for targets of 41435 followed by today's buyer reference zone @ 41333-41373. Prices sustaining below this can test 41089-41089. For longs, we have to wait unless we break above 41850 or shall wait and look for scalps if we see a big gap on the downside.
NSE:BANKNIFTY1!Short
by deepss4u
NIFTYImportant levels for 31/10/2022. Again we expect to see a gap up at the open. But with what we have seen in the last 3 sessions, the gap up is not able to sustain as the intraday sellers are taking over control. Such repeated occurances are rare. Still for today, i will keep less hopes on the upside and look for shorting opportunities at old seller reference areas. 17968 will be an important level, once we cross it 18085-18118 can be seen but if we sustain below it, there is a possibility of testing PDL @ 17773. Keeping position sizing in check can do wonders today.
NSE:NIFTY1!
by deepss4u
BANK NIFTYImportant levels for 31/10/2022. With the data we are seeing currently we can see a big gap up at the start. But with the story being similar in the last 3 sessions where we are opening with a gap up but intraday sellers are taking control with prices trading lower. Today if we see an open near the seller reference zone 41566-41633, there can be an upward move till the old seller reference at 41750-41850 (ATH) and then a sell off can be seen. Longs shall strictly be avoided unless we hold above 41850. Shorts can be taken after we see how the volumes come in at the seller reference areas. Once we are not able to break it and sellers come in the targets to look forward shall be 41250 and 41059.
NSE:BANKNIFTY1!Short
by deepss4u
NIFTYImportant levels for 27/10/2022. We do expect a gap up seeing SGX but the charts do have a language of their own. At last session's close the sellers were dominating and unless they decide to run for cover I still think the index will come down. If we see the gap up sustain above 17885, then only will take longs for targets of 17968 followed by old seller reference zone of 18084-18118. If we see prices coming below 17885 we can short and pyramid our positions as we can see a trending expiry with PDL @ 17642 as potential targets. Overall a trending expiry can be expected tomorrow.
NSE:NIFTY1!
by deepss4u
BANK NIFTYImportant levels for 27/10/2022. Last sessions low and the seller reference zone 41293-41353 will be important levels to watch out for. If we open flat and break PDL @ 41035, we can short and look for targets of 40852 and the old buyer reference zones of 40666-40733. If we see a gap up open around the seller reference zone (41293-41353) we can again look to sell as the sellers can look to defend and we expect to see a good fall from these levels. If we take trades here, our initial targets will be PDL followed by above mentioned targets. For longs, we will only buy if we see big gap down, else longs can be avoided. Will update here if we see some good scalping opportunities.
NSE:BANKNIFTY1!Short
by deepss4u
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NIFTYImportant Levels for 21/10/2022. A day where we slowly moved up before the final expiry move which took the prices into the seller reference area and we did see the sellers keenness to defend those levels which can be seen by the volume in the last candle at the top. For tomorrow, if we open flat we will simply wait and watch if the sellers will take control or the buyers will break through before initiating any trades. For shorts taken the initial targets will be 17477-17489 buyer reference followed by 17440 and 17405. This can be a trade which safe traders can give a miss as it will be a low probability trade. For longs we can take positions if we see a gap down around 17500 levels or only above 17600. The targets to look will be 17693-17744, the old seller reference zone.
NSE:NIFTY1!
by deepss4u
BANK NIFTYImportant Levels for 21/10/2021. What we saw today has made one thing clear that the buyers are still in control as we witnessed the sellers being absorbed in the old buyer reference area 39932-39960. If we see a flat opening tomorrow, any small dips till 40122-40180 can be bought with SL placed at 40075 for initial targets of the seller reference from yesterday 41381-41441 followed by PDH at 40600-40667. Shorts can be taken if we see a big gap at the open or if we see prices below today's low @ 39800. Safe traders can avoid shorts for tomorrow.
NSE:BANKNIFTY1!Long
by deepss4u
NIFTYImportant Levels for 20/10/2022. We opened above PDH and sustained above it for a good amount of time but buyers failed to carry forward and sellers eventually gained control. For tomorrow we will take short positions once we trade below today's low @ 17457. The immediate reference on the downside is the old buyer zone at 17285-17315. So close to 200 point move can be expected with 17420 and 17367 as levels which can be pull back zones. Longs will be avoided tomorrow as do not expect much movement for this expiry.
NSE:NIFTY1!Short
by deepss4u
BANK NIFTYImportant levels for 20/10/2022. We opened above previous day range but slowly came inside the range from yesterday and eventually closed inside yesterday's as well as today's VA. The index has been mostly volatile for last two sessions with neither the buyers nor the sellers seeing any sort of follow through. Today the sellers were largely n control but we were not able to break PDL. For us to see any sort of good move to the downside we need to clear 40210. Once we break it we can take shorts with SL of 40280 for targets of 40040, followed by the buyer reference zone 39932-39960. Sustaining below it we can test another buyer reference of 39775-39846. Not expecting much of an up move for this expiry, but if we open with a gap then would look for scalps else will be avoiding longs tomorrow.
NSE:BANKNIFTY1!Short
by deepss4u
NIFTYImportant Levels for 19/10/2022. We witnessed a closing inside the VA and with immediate buyer and seller references close by, it would be wise to watch out whether we break the seller reference zone 17545-17565 or the buyer reference area of today 17458-17472. Till we rotate inside the middle of this we wont be taking any positions. Once we break below 17458, we can look for targets of 17420,17367 and the VA from yesterday @ 17280-17315. SL will be 25-35 points. On the upside when we break and trade above 17565 we can see a good move on the upside as the nearest seller reference is at 17693-17744. Being patient and protecting capital in these small rotational areas will definitely yield wonderful returns.
NSE:NIFTY1!
by deepss4u
BANK NIFTYImportant Levels for 19/10/2022. We opened with a big gap and basically traded within a small range throughout the day. We closed inside the VA, and currently we are inside an NO TRADING ZONE. The low of today @ 40213 will be important for tomorrow's context. If we see a flat open and price breaks 40213, we can take short positions with SL around 40280 for initial target of 40040 followed by targets at the buyer reference at 39932-39960. We will be taking longs at the buyer reference area of 40210-40280 levels, if we see buying volumes. The targets to look will be the seller reference area at 40456-40494. Once we break out of these levels we can see 40735 levels also. Because of overnight gaps intraday trades are being killed, this is the time to be patient and not take unnecessary positions.
NSE:BANKNIFTY1!
by deepss4u
BANK NIFTYImportant levels for 18/10/2022. The buyers emerged stronger and we managed to close at day's high and also well above the range we were stuck in since last two weeks. Tomorrow, if we see a flat opening we can get good trades on the long side. Any dips till 39932-39960 can be used as an opportunity to add longs. The initial target to look forward is 40045 and once we cross it there is a possibility of a trending day and the index testing the old seller reference at 40735-41004. Shorting the index should be strictly avoided unless we sustain below 39760 or we witness a massive gap.
NSE:BANKNIFTY1!Long
by deepss4u
BANK NIFTYImportant levels for 17/10/2022. By the looks of it we are in for a gap down open.39270-39360 will be an important area to look forward. We witnessed some aggressive buying at this zone, so if we are to see an up move the buyers will come in to defend these levels. Longs if triggered here will see targets of the seller reference from last session at 39600-39680. Prices staying above it can also test 39745 and 39923. But if we sustain below 39270, there is good chance of price testing the old buyer reference zone at 38720-38800. Shorts taken can aim for 38976 as initial targets followed by the buyer reference zone mentioned.
NSE:BANKNIFTY1!
by deepss4u
NIFTYImportant levels for 17/10/2022. We are most likely seeing a gap down open. We need to be patient for the first few minutes and see whether the buyers come in to defend positions or sellers gain control. For longs, i would prefer to take positions above 17225 for targets of 17285-17315 the seller zone from last session, price sustaining above it can see PDH levels also (17345-17362). Will look to short only if the price faces rejection at 17175 levels else wont look to short. Another round of buying can be witnessed if we see good volumes coming in at the old buyer reference of 16970-16995.
NSE:NIFTY1!Long
by deepss4u