Niftybank intraday trading levels 26-10-21

 Nifty bank 15 minute a candle:

1. Nifty bank will be bullish above 41650; as ICICI bank posted good Q2 results and today, Axis bank and Kotak bank will post their Q2 results. I am expecting good results.Let see.

2. Nifty bank will be bearish below 41050; I am not going to trade on bearish side as it might be a trap the new traders because market is bullish but closed the market on bearish sentiment at the fag end, yesterday. So be cautious.

3. Follow the thin red line for the support;

4. Market is bullish do not go for PUT(PE);

5. Avoid trading in bearish side, it's a trap;

 

Niftybank intraday trading levels 25-10-21

 Nifty bank 15 minute a candle:

1. Nifty bank will be bullish when crosses 40500 levels. Focus on ICICI bank and Axis bank movement to track and confirmation for the trade to take. Many banks posted good results. ICICI bank has posted good results and Axis bank going to declare the result, today.

2. Nifty bank will be bearish if it breaks 40200 levels. Well, Nifty bank is looking stronger than Nifty 50 index but we can not say about the downfall. Nifty bank has to reach 45000 levels before any major correction. 

3. For risky traders, follow the Orange trend line, 15 minute candle closes above the trend line then you can buy ATM CE with small quantity and wait for a candle to cross 40500 levels, then you can add more to it.

Nifty Bank weekly view 25-10-21 to 29-10-21

A Month a candle:

Nifty bank is very bullish and aiming to reach 45000 levels, as it has under-run respected to Nifty 50 index, which is in bearish mode but respecting the support of 18050 levels. The candle formed by October month is Marubozu candlestick, which means Nifty bank is very bullish. The recent result published by ICICI bank is good and will support the Nifty bank to reach new highs. Also, focus on the upcoming result of Axis bank on Monday (25-10-21) will have a major impact on Nifty bank.

 

A Week a candle:

Weekly candle is above 40000 levels and closed above 40200, so watch for the 40200 levels for bounce back if Nifty bank come close to 40200 levels. Fibonacci retracement also tells us that Nifty bank will achieve 47000 levels which is little difficult not impossible in the coming few weeks.

 

A Day a candle:

Day candle is rejected the 40500 levels and made green inverted hammer, so the Nifty bank will make a fast movement above 40500 levels, once break then you can expect 43000 levels in few days (next week only). 

 

Niftybank intraday trading levels 19-10-21

 Nifty bank 15 minute a candle:

 1. Nifty bank took a halt just below 40000 by opening big GAP-UP. If it has to cross 40000 (a psychological resistance) then it has to push some more or open GAP-UP.

2. Nifty bank will be bearish below 39600 to meet first target as 39350 then 39200 as second target and then third target will be 39000 levels.

3. Novice trader should be cautious while trading at higher levels; you will get shorter target or profit. Do scalping trade to get quick but small profit with small quantity.

4. Avoid trading GAP-UP or GAP-down, because these will act to trap newbie traders and weaker hands to be thrown out of the market.

Niftybank intraday trading 18-10-21

Nifty bank 15 minute a candle:

1. Nifty bank has broken the range with a BOOM and there it is now trading above 39000, it is looking very bullish to achieve the target of 39800, 40500  and, 40900 in this week. I am expecting Niftybank will achieve 39800, today only, if it moves above 39375 with a bullish candles breaking and making higher highs. Today, I am not at the bearish side as Global queues are positive.

2. Traders can buy ATM CE, if Nifty bank trade above 39375 with stoploss of 80 points, only to make decent profit of 3X or 4X or more as compared to  stoploss. You have to focus on the movement of HDFC bank, also because it has posted good result and Nifty bank will move according to it. If other banks also support then Nifty bank will achieve 40500, today (let see).

3. Nifty bank has to be avoided in no trading zone and turn-around zone, if open GAP-DOWN, wait for a range to break with a bullish candle and then trader with small quantity until it breaks 39375 then you can increase the quantity as per your wish. My advice is to avoid trading below 39000.

4. Nifty bank will be mild bearish is trade below 38900, but I an not expecting that. But if it breaks 38600 then you can go for bearish side trade.