Multi-timeframe analysis of Nifty 50 27-12-2021 to 31-12-2021

Nifty 50: a week a candle

Nifty 50 is moving in a parallel channel and keep resisting the upper end and keep supporting the lower end of the channel. On a weekly basis, to become bullish or taking a longs position the Nifty 50 has to trade above 17600 for few days. Nifty 50 index will become bearish or panic selling will be started below 16350 then we can see the levels of 16000 or below.

Nifty 50: a day a candle

On a daily basis, Nifty 50 has made a RED candle by resisting upper level of the thin RED trend line but taken support of 17000 and closed just above 17000. If 17000 levels breaks and Nifty 50 trade below 17000 then downside momentum can be seen in a day or two. But there are some good news flowing in the market which will strengthen the market a little bit and FIIs are selling in small quantity due to Christmas and New year week holidays in many countries. Also, DIIs are supporting the market by continuous buying. Hope market will recover soon and breaks the upper end on the parallel channel (on weekly chart).

Nifty 50: 15 minutes a candle

Nifty 50 will have bullish momentum above 17075 but there is an immediate resistance zone and may consolidate in the zone for an hour or so for further movement (upside or downside). If Nifty 50 trade below 16900 then downside movement will be expected but for shorter targets, therefore, keep your stoploss as per your risk. If opens gap-up or gap-down then wait for the range to break or price action and then trade according to it.

Banknifty intraday monthly expiry trading 30-09-2021

 Banknifty 15 minutes a candle view:

1. Nifty bank will be bullish (Thick blue line) when trading above 38100. Let a 15 minutes candle close above 38100, then trade accordingly.

2. Nifty bank will be bearish (Thick red line) when trading below 37700. Let a 15 minutes candle close below 37700, then trade at your own risk because Nifty bank is in bullish mode.

3. Do not trade in the trap zone between 37700 and 38100. Let the Nifty bank move upward within the parallel channel and if crossed 38100, then buy ITM Call i.e. 38000 CE or 38100 CE to get 200 points approx. till 38350 as first target and then 38550 as second target.

 

Banknifty intraday trading on 20-09-2021

 As depicted in below image, you can trade accordingly

1. If Banknifty (15 minute candle) crosses 37950 level then you can buy 38000 CE for 100 points or more, trail the stoploss with the up move.

2. If Banknifty (15 minute candle) crosses 37450 level then you can buy 37500 PE for 200 points or more, trail the stoploss with the down move. My suggestion is to avoid trading for PUT or downside movement, it may be a trap because Banknifty trend is Bullish.

3. Avoid trading in the range between 37950-37450, because it is a trap zone, but you can do scalping trade for 5% +, only.

 

 

 

Banknifty is again in parallel channel:

Banknifty weekly analysis and intraday trade setup for Monday 13-09-2021

BankNifty weekly overview:

Banknifty rejecting the levels of 36500 (major support) and 37000 (major resistance). Banknifty is just consolidating after breaking the levels of 36500 (upside) or breaking the parallel channel upside. 

But it is still facing the resistances on 37000 levels. For the major up move Banknifty has to close a DAY-candle above 37000 and give a follow-up candle (a green candle above 37000 and closing above the high of the previous day candle), then Banknifty will give 1000-1200 points intraday.

But if it breaks the 36500 levels below (which is I am expecting, any day), then give a follow up candle closing below 36000 levels, then panic selling will be starting which will bring Banknifty to 35000-34500 levels in intraday.

 

Banknifty intraday trading chart for 13/09/2021. 

For intraday 36800 level upside is acting as a major resistance (GREEN LINE) and 36500 levels downside is acting as a major support (RED LINE).

The trend lines (BLACK LINE and RED LINE) are making a wedge pattern (Read here...). Breaking the BLACK LINE with 15 minute candle will make it bullish. And breaking the RED LINE with 15 minute candle will make it bearish but there are many supports between 36000 and 36500 (like 36400 and 36200).

Banknifty broken the channel, finally

Weekly analysis: Let see what may happen in the next week of 06-September 2021 to 09-September, ot has only 4 trading days.

 As Banknifty (an NSE index for top 12 banks), has broken its bounded movement in a parallel channel and closed above 36500 levels and consolidating for a while. But a rejection is seen at the levels of 37000-37100 levels (may be waiting for some news to break it). If it breaks 37000-37100 (upwards) levels then we will see fast movement of 1000-1200 points or more till 1500 points.

But if it breaks the 36500 levels, downwards then panic selling will be started below 36000 levels which will bring down the Banknifty to 34500-34000 levels in this week or this month. But if it holds the fort above 36500 levels and consolidate and move towards 37000 levels, slowly, then you can buy Call, blindly for the fastest movement of the Banknifty.