Nifty Bank weekly view 15-11-21 to 19-11-21

 A week a candle:

On weekly candle basis, Nifty bank is following and taken the trend line as support. If has rejected the level of 38500, twice. It is suggested that let the market decide the up-move or down-move, then trade accordingly. Due to festive season, many retail traders and investors, FII and NII, took out some money from the market, that is why we see the downfall. But new investment has begun as Futures data of Nifty bank is strong and voluminous Futures has been bought on Friday trading session i.e. 12-11-21.

 

A day a candle:

Nifty bank is at the verge of "MAKE or BREAK" level. If it trades above 39000 then we can see the first target of 40100 levels and then it may take a pause for more upside. If it breaks the level of 38400 and trade below this then we can see the fast downside movement till 37500 levels or more. But it is not recommended to trade downside except for risky and professional traders. Market has made an "Inside candle" pattern or "Bullish Harami" candle stick pattern which means market will be bullish if it crosses and sustain the last day's higher price of the candle. If it crosses the lower price of the candle then bearish sentiment. But yes market is at the Red trend line support and rejected it and made a green bullish "Dragon Fly" candle; so if market crosses and sustain above the Blue trend line then risky traders initiate buying CE.

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

 Nifty bank: 1 hour candle

1. Nifty bank will only be bullish for fast upward movement when crosses the Blue trend line and sustain for more than 15 minutes. Then we can see the target of 39500 and 41000. Keep your eyes on the change in open interest for short covering.

2. Nifty bank host the fort of 39000 levels, if the breaks 38900 and sustain for more than an hour then we can see the slow downside till 38500, which I am not expecting but we cannot say anything in the market to happen.

 

Nifty 50: 30 minute candle:

At last Nifty 50 crosses the 18000 level, sustained, re-test and close above 18000. If Nifty 50 open around 18000, then we can the short covering with upside movement till 18200-18300.

Niftybank and Nifty 50 intraday trading levels 10-11-21

Nifty bank 1 hour a candle:

1.  Nifty bank will be bullish when crosses and sustain the Orange trend line, there is a strong support of 39000-38800, if crosses and become bullish then it will continue to move till 41000 and will take a halt in the range of 40150-40450.

2. Nifty bank will be bearish when crosses 39000 level, but from below there is sudden bounce-back can be expected or slow movement for downside. Do not expect Nifty bank to fall much, what I think it will achieve 43000 level in this month.

 

Nifty 50 15 minute a candle:

Nifty 50 will be bullish when crosses the Blue trend line and sustain for 15 minute or so.

 

Niftybank intraday trading levels 09-11-21

 Nifty bank 15 minutes a candle:

1. 39000 act as strong support today in Nifty bank for intraday. But Nifty bank make turn around from any levels below 39000 till it does not breaks 38450. If crosses then Nifty bank will be bearish for short-term or a week till expiry.

2. Nifty bank will be bullish above 40000 for short range or little profit. But it has to cross the Blue trend line.

 

 

Nifty 50 view:

Niftybank intraday trading levels 08-11-21

Nifty bank 15 minute a candle:

1. Nifty bank will be bullish for fast movement or new buying opportunities is above 40400, just after the crossing of the strong resistance from 40200-40400. You can buy ATM CE for upside till 40100, which can be slow movement when the Nifty bank crosses last day's high.

2. Nifty bank will be mild bearish below 39300; there is a strong bounce-back level or strong support zone where you have to be careful, when crossed then you can see more downside of 1000+ points. But I am not expecting that. I expect the bounce-back from that level.

3. For risky traders follow the Blue trend line to enter the trade early as per your own risk.