Multi-timeframe analysis of Nifty bank 03-01-2022 to 07-01-2022

Nifty bank: a week a candle

Nifty bank is rejecting the lower levels specially 35000 and moving upward, slowly. For the weekly view, we can see the Long build-up above 36000 and can reach 37500 in a week. Last week was quite boring due to little participation of FIIs because of Christmas and New year holidays. Therefore, we can see the upside movement with momentum in the next week and many companies will declare their Q4 results in January 2022. We have to be careful and aware about the Omicron variant and increasing COVID-19 cases day by day in India and other European countries. Also, FIIs participation will be less due to the tapering.

Nifty bank: a day a candle

Technically, Nifty bank is looking strong on daily chart. It is keep rejecting the lower levels of 34000 which turnout to be very strong level. If Nifty bank has to go down then there will be many supporting levels and bounce-back from any levels. Therefore, it is recommended to go for upside trade rather than downside. We will see momentum in upside trade whether to buy CE or sell PE or buy Futures. If you are trading for downside then you have to do scalping with shorter targets and profit.

Nifty bank: 30 minutes a candle

Nifty bank will move upside above 35600 and sustain the level. Nifty bank will move downside below 35400 and sustain the level. If opens gap-up or gap-down then wait for the range to break or price action with bullish or bearish sign to trade, accordingly.

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

Nifty bank: A week a candle

On weekly chart, Nifty bank is closed almost at the support of RED trend line, which is an indication of mild bullishness as FIIs selling activity is taken a short pause and they are still selling in small quantity. But we cannot deny the fact that the levels of 32000 can be tested in this month i.e. December 2021, if not then after the Budget 2022 in February 2022. As per technical, if Nifty bank sustain above 37600 then upside longs position can be seen. If sustain below 34000 then 32000 levels are coming.

Nifty bank: A day a candle

On a daily chart, Nifty bank is looking weak because it has resisted the upper levels and resisted the thin RED trend line (bottom-right corner). To become bullish, it has to cross 35500 and sustain for few days to move upside. If sustain below 34500 then 34000 levels can be tested, again. None of the Banking stocks are supporting the Nifty bank to go up and there might be some consolidation around 34000 before downside movement.

 

Nifty bank: 15 minutes a candle

In 15 minutes time-frame, the chart suggests bearishness. As, it keeps resisting the upper levels specially the BLUE trend line but taking support on lower levels. At lower levels DIIs are supporting the market with their continuous buying. To become bullish in intraday trading session, Nifty bank has to cross and trade above 35100 to achieve the targets of 35300, 35500, 35800. Downside movement can be seen below 34550 but for shorter targets.

Niftybank & Nifty 50 trading levels 24-12-21 (Boxing day)

Nifty bank: 15 minutes a candle

Nifty bank was bullish and nearly touched the level of 35500. For next trading day, if Nifty bank opens flat and sustain above 35500 then upside momentum can be seen. If opens gap-up then wait for the price action and then trade. If opens flat and trade below 35000, then downside movement can be seen. If opens gap-down then wait for the price action and then trade.

Nifty 50: 15 minutes a candle

There is a resistance of 17200 for Nifty 50, if crosses and sustain then fast upside movement can be seen. If opens gap-up then wait for the range to break. If trade below 17000 then bearishness will continue. If opens gap-down then wait for the range to break.

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.

Niftybank & Nifty 50 trading levels 22-12-21

Nifty Bank: 15 minutes a candle

Nifty bank will be bullish above 35050 and bearish below 34350. Avoid trading gap-down but if opens gap-up then look for bearish price action or candlestick pattern to trade.

Nifty 50: 15 minutes a candle

Nifty 50 will be bullish above 17000 and bearish below 16650. Avoid trading gap-down but if opens gap-up then look for bearish price action or candlestick pattern to trade.

Niftybank and Nifty 50 intraday trading levels 17-11-21

 Nifty Bank: 15 minutes a candle

1. Nifty bank is looking bearish and most of the banks are in selling spree, specially private banks and lenders. If Nifty bank breaks the level of 38000, then you can see heavy selling with fast movement till 37500 or further 37000.

2. Nifty bank will become bullish when crosses 38550 level and hold for an hour then you can see upward movement but the movement will be slow.

3. If Nifty bank opens GAP-DOWN below 39000, then you can see immediate selling.

4. If Nifty bank opens GAP-UP around 38500, then wait for some time and trade accordingly.

Nifty 50: 15 minutes a candle

Nifty 50 closed below 18000, if it opens flat and goes down then you can see the level of 17800 and it it breaks 17800, then 17500 will be seen in quick time. Upward movement in Nifty 50 will be seen if it crosses 18050 with enough volume and all major components of Nifty 50 should support to go up. But it is looking bearish and on daily chart the price action suggest bearishness in short term.

 

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.

Common candle stick pattern for Price action