Nifty bank: 15 minutes a candle
1. In today's trading session, Nifty bank close around 37350 after a volatile intraday session. Nifty bank has taken support of RED trendline during the day and trying to go up. It will be bullish only above 37500 level and sustain for few minutes to see good upward rally till 37800 and then 38000. If Nifty bank opens gap-up above BLUE trendline and sustain for 15 minutes then you will see upside movement very fast due to short covering.
2. Nifty bank is already in bearish mode because whenever it tries to go up then profit booking happens. For tomorrow's intraday session, it will be bearish below 36900. For risky traders, below RED trend line it will be good to enter the trade as per your risk. If Nifty bank opens gap-down around 37200 levels then do not trade, it might be a trap for bearishness, wait for the range and trade the range, accordingly.
Nifty 50: 15 minutes a candle
In today's session, Nifty 50 closed above 17500 level and tomorrow, if it sustain for 15 minutes or more then you will see upside rally till 17750. Nifty 50 has recovered due to good news in Reliance and other heavy-weight stocks are in upside mode due to short covering or profit booking for short positions. If Nifty 50 opens gap-up above 17600 level then wait for the momentum (upside or downside) then trade, accordingly because 17600 is the deciding level for upside or downside. It will be bearish below 17450 and if it opens gap-down then wait for the range and trade the range, accordingly.
