Niftybank & Nifty 50 intraday trading levels 24-11-21

 Nifty bank: 15 minutes a candle

1. Nifty bank has shown some recovery and that little recovery came from short covering/profit booking from short positions. IT will become bullish above 37500 but bearish trend will remain the same and trend from bearish to bullish will change when it will close above 39000 and consolidate for few days. If opens gap-up then do not trade for upside in a hustle as the premiums are decreasing quickly in a blink of an eye.

2. Nifty bank will be bearish below 36900 when a 15 minute candle closed below this level, do not enter the trade in a hustle wait for the second time or third time to cross the low of this level's range. If Nifty bank opens gap-down near 37000 then wait for the 15 minutes and enter the trade, according to your own risk because it might be a trap as today's session is quite volatile. I expect tomorrow's session will also be volatile with slow upside movement, it is due to India VIX, the premiums are inflated.

 

Nifty 50: 15 minutes a candle

Nifty 50 has recovered and closed above 17500; to become bullish the Nifty 50 has to close above 17800 and consolidate between 17800 and 18000 for few days and then we will good fast upside move. Most of the heavy-weight stocks are recovered from last's days low due to short covering and profit booking from short positions. Today's session is quite volatile due to inflated premium. I expect tomorrow's session will be flat to take advantage of premium decaying by options writers. Nifty 50 will become bullish above 17550 and bearish trade can be take below 17280.