Niftybank & Nifty 50 trading levels 23-12-21 (Weekly expiry)

Nifty Bank: 15 minutes a candle

In Nifty bank upside move can be seen above 35100, you can see upside in the morning if opens flat. If opens gap-up then wait for 5 minutes for the bullish candle and then upside rally up to 35550 can be possible in half an hour or so due to short covering. If Nifty bank trade below RED trend line then you can see the downside movement. If opens gap-down then look for the price action and candlestick pattern for bearish trade or wait for the range to break either side.

Nifty 50: 15 minutes a candle

In Nifty 50, upside can be seen above 16975 and crosses with  minute candle and sustain above 17000 if opens flat. If opens gap-up then wait for the price action for downside movement. If Nifty 50 trade below 16800 then downside momentum can be seen. If opens gap-down then look for the price action and candlestick pattern for bearish trade or wait for the range to break either side.

Nifty Bank weekly analysis 01-11-2021 to 05-11-2021

 A candle a day:

According to Fibonacci retracement and due to bearishness of the Nifty bank we can see the levels of 37000 or below. Even after the good results posted by banks and global cues are positive; FII continued the selling and that selling pressure may continue next week. Lockdown in China and in many parts of India may leads to this selling pressure.

 

A candle a week:

Fibonacci retracement is used when market is running all time high. The recent intraday fall of 1500 point in Nifty bank causes panic in the market among retail traders and investors. We may see the levels of 37000 in quick time. The candle pattern at the upper level in very bearish. The big red candle ate the small green candle.

 

A Candle a month:

The candle formed by October month is mild bearish and rejected the level of 42000 as 41800 is a Pivot resistance on monthly basis. Take only bearish trade till any good news came or let the market decide the upward direction with any bullish candle, bullish candle stick pattern or bullish structure. Also, focus on the SBI result on 3rd November after 12:00 PM for the breakout or upside fast movement.

 

NOTE: Due to Diwali/Deepawali expiry is on 3rd November (Wednesday), Muhurat Trading on 4th November with the expiry of 11 November (Thursday) (Time: 6:15 pm and 7:15 pm) and 5th November is Holiday due to "Diwali Balipratipada"

Niftybank intraday trading 13-10-2021

 Niftybank 15 minute a candle:

1. Nifty bank will again be bullish when crosses 38600 as 38500 is a break-out level. Now, we can see the levels of 40000 in coming week.

2. Nifty bank will be mild bearish below 38375 as there are many candles supporting the level, therefore, it can be seen as bounce-back level for fast upward movement. Look for the bullish candle or price action at this level for bounce-back.

3. Nifty bank will be bearish below 38150 level, which can lead till 37700 level, then 37350 or 37000, which I do not expect, at least for today.

4. There will be no trading zone between 38375 and 38150, you can be trapped in the volatile movement. So, avoid trading in this zone or gap-down at the mentioned levels.