Weekly multi-timeframe analysis of Nifty bank 22-11-21 to 26-11-21

Niftybank: a week a candle

Nifty bank is following the RED trend line on weekly basis. If breaks the trend line and closed below 37500 then you will see the levels of 36000. As per the last week's analysis, we have analyzed and expected the downfall to see 37000 levels, so, we have seen the mentioned levels. Nifty bank is bearish due to tapering and market is expecting the rate hike by US Federal Reserve which is causing this bearishness in the market. Let see, what will happen in the last week November or first week of December. The Fibonacci Retracement tool is also suggesting the levels of 36000 but it is purely depends on the RED trend line, if breaks and close below 37500 then only you will see the 36000 levels.

 

Niftybank: a day a candle

Nifty bank is on the verge of "MAKE or BREAK" level, as Nifty bank is taking support of Red trend line and if it breaks and sustain below it then you can see the levels of 36000 in the next week, only. The Elliot wave is also signalling the downfall. Nifty bank has to retrace from 38000 levels and has to close above 39000 levels to become bullish but it seems too tough for the market as many traders and investors are becoming panic due to continuous selling of FIIs (Foreign Institutional Investors)

Niftybank and Nifty 50 intraday trading levels 18-11-21

 Nifty Bank: 15 minute a candle

1. Banknifty will be bullish above 38300 with slow movement upside, for the fast movement it has to cross strong resistance zone of 38450-38550 and sustain for some candles above this level.

2. Banknifty is looking bearish and the structure or price action seems bearish in nature. If it breaks 37950 level with huge volume then you can see the down fall with fast movement till 37500 and then 37000 levels can bee seen.

3. If banknifty opens gap-up around 38300 level, then wait for an hour for the range to make and then trade that range accordingly.

4. If banknifty opens gap-down around 37500, then do not trade either in PE or CE. Just take a day off.

 

Nifty 50: 15 minute a candle

Nifty 50 is again going to touch 17800 level and if it sustain below 17800 then 17650 level can be seen as Reliance and other heavy-weights are not looking good and also, FIIs are on selling spree since weeks. It will become bullish only above 17950 and sustain for and hour or more, then you can see upside movement.

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 and Nifty 50 intraday trading levels 16-11-21

Nifty Bank: 30 minutes a candle

1. If Nifty bank opens flat and crosses 38800, then Nifty bank will achieve the target of 39050.

2. If Nifty bank opens flat and breaks 38600, the Nifty bank will touch 38450.

3. If opens Gap-up around 39000 levels, then wait the range and when the range breaks either side then trade accordingly.

4. If opens Gap-down around 38500 levels, then wait for the range and when it breaks either side then trade accordingly.

 

Nifty 50: 30 minutes a candle

Nifty 50 was bullish in last trading session but can not continue. It is waiting for some good news to move upward. Let see, if there is any news before the expiry. If not then it will break 18000 to again touch 17800 levels or 17500 levels, further.

Niftybank and Nifty 50 intraday trading levels 15-11-21

Nifty bank: 15 minute a candle

1. Nifty bank will become bullish above 38825 and sustain for sometime to achieve the target of 39100 and 39500, but the movement can be slow.

2. Nifty bank will become bearish below 38475 and sustain for few minutes to achieve the target of 38000 or more, movement will be fast.

3. Risky and professional traders can enter the trade, early, if Nifty bank crosses the Red trend line, then they can buy ATM PE/PUT.

 

Nifty 50: 15 minute a candle

Nifty 50 is in bullish trend and will continue it's bullish trend if crosses 18120 level otherwise it will make a range between 18000-18100. It will be bearish below 17800 but risky traders can enter the trade early when crosses the Red trend line and the buy PE.