Niftybank & Nifty 50 intraday trading levels 25-11-21 (Monthly Expiry Analysis)

Nifty bank: 15 minutes a candle

1. Nifty bank made some recovery in last trading day and in the morning today but Nifty bank rejects 37900 level and closed below 37500 and vanishes all recovery of the morning. For tomorrow, Nifty bank will be bullish above 36900 and sustain for 15 or more minutes. As tomorrow will be monthly expiry day of November so be cautious as premium decays fast. If Nifty bank open gap-up then avoid trading or look for bearish trade, only. Short covering will only occur, if Nifty bank trades above 38000 for fast movement.

2. Nifty bank is still bearish and for tomorrow it will be suitable to trade below 37250. If Nifty bank opens gap-down then wait for the range and trade that range on either side if it breaks. You will not get fast movement upside but below 37000 there will be fast movement due to Long unwinding till 36500 levels or further.

Nifty 50: 15 minutes a candle

Nifty 50 ends up in bearish mode in today's trade during last half of the trading session and rejects the level of 17600 and closed near 17400. It will be bullish only above 17600 and bearish only below 17350. If Nifty 50 opens gap-up or gap-down then wait for the range for an hour and trade that range either side it breaks. Nifty 50 is bearish due to Reliance, ITC, Infy, Maruti and other heavy-weight stocks.

Weekly multi-timeframe analysis of Nifty 50 22-11-21 to 26-11-21

Nifty 50: a week a candle

Nifty 50 is looking weak as it closed below 17800 and right now taking support of ORANGE trend line. Nifty 50 is weak due to heavy-weight stocks like Reliance, HDFC Bank, etc., their chart is not looking bullish and shows signs of bearishness. If Nifty 50 is unable to close above 17800 then you can see the levels of 17650-17500 by taking support of RED trend line and if it breaks the RED trend line then you can see the free-fall of Nifty 50 to test the levels of 17000 or 16000 as per Fibonacci retracement. Nifty 50 is taking resistance of the BLUE trend line which is a level of 17800-18000 which is decisive for "MAKE or BREAK" level. The Elliot wave is showing bearish structure in Nifty 50 from its high.

 

Nifty 50: a day a candle

 In day chart of Nifty 50, the Fibonacci retracement is showing the levels of 17000 and 16000, the reason behind it is that the Nifty 50 never test these levels before going up. So, it is understandable that Nifty 50 will test these levels in coming months (not weeks). It is taking support of RED trend line and if it breaks then the levels of 17500 or more can be seen in next week, only. To make Nifty 50 in bullish trend, it has to close above 18000 levels and consolidate for few days, then we can see the upside rally, but it seems so that bearishness will continue to test the mentioned levels.