Niftybank & Nifty 50 intraday trading levels 24-11-21

 Nifty bank: 15 minutes a candle

1. Nifty bank has shown some recovery and that little recovery came from short covering/profit booking from short positions. IT will become bullish above 37500 but bearish trend will remain the same and trend from bearish to bullish will change when it will close above 39000 and consolidate for few days. If opens gap-up then do not trade for upside in a hustle as the premiums are decreasing quickly in a blink of an eye.

2. Nifty bank will be bearish below 36900 when a 15 minute candle closed below this level, do not enter the trade in a hustle wait for the second time or third time to cross the low of this level's range. If Nifty bank opens gap-down near 37000 then wait for the 15 minutes and enter the trade, according to your own risk because it might be a trap as today's session is quite volatile. I expect tomorrow's session will also be volatile with slow upside movement, it is due to India VIX, the premiums are inflated.

 

Nifty 50: 15 minutes a candle

Nifty 50 has recovered and closed above 17500; to become bullish the Nifty 50 has to close above 17800 and consolidate between 17800 and 18000 for few days and then we will good fast upside move. Most of the heavy-weight stocks are recovered from last's days low due to short covering and profit booking from short positions. Today's session is quite volatile due to inflated premium. I expect tomorrow's session will be flat to take advantage of premium decaying by options writers. Nifty 50 will become bullish above 17550 and bearish trade can be take below 17280.

Niftybank & Nifty 50 intraday trading levels 23-11-21

Nifty bank: 15 minutes a candle

1. Nifty bank retraced from the level of 36700 after the fall of 1500+ points from day's high. It will be bullish only above 37400, for risky traders to enter the trade early at their own risk is above 37250. If Nifty bank opens gap-up between 37400 and 37250 then wait for the range and trade the range, accordingly.

2. Nifty bank is bearish and will go down only if it breaks 36650 level to achieve 36450 and then ultimate level of 36000 from where we can see a major bounce-back of 500+points. If it opens gap-down around 36500 level then wait for the range and trade the range, accordingly.

 

Nifty 50: 15 minutes a candle

Nifty50 is bearish and test the level of 17000 as soon as possible. Due to Reliance and Bajaj twins and HDFC twins and other heavy-weight stocks are cracking more than 2-3% and this fall may continue till we see the tapering decision by US Fed. Till then look for the opportunity to add good stocks in your portfolio and look for bearish trade.

Niftybank & Nifty 50 intraday trading levels 22-11-21

Nifty bank: 15 minutes a candle

1. Nifty bank is becoming bearish day by day. The Elliot wave suggests bearishness ahead on day-candle chart. It will be bearish when breaks 37750 level with volumes and sustain for 15 minutes or more then you can see more downward movement till 37450 and then 37000 levels.

2. Nifty bank will become bullish only above 38150 but that will be slow or very fast movement(a single 5 minute green candle). For that Nifty bank has to open above 38000 and sustain above it for some green candles then you can seen the movement, ahead.

3. If Nifty bank opens gap-up around 38500 levels then do not trade for upside but look for the opportunity for downside trade.

4. If Nifty bank opens gap-down around 37500 levels as I am expecting, then wait for the range then then trade, accordingly.

 

Nifty 50: 15 minutes a candle

Nifty 50 is making bearish structure due to Reliance and Saudi Aramco deal cancelled and also many heavy-weight banks are not supporting the Nifty50 to go up, also tapering tantrum making the mood of market quite confusing which leads to this bearishness. If Nifty50 breaks 17685 then it will become bearish to achieve 17500 and above 17850 it will become bullish but 18000 will be major resistance.

Weekly multi-timeframe analysis of Nifty 50 22-11-21 to 26-11-21

Nifty 50: a week a candle

Nifty 50 is looking weak as it closed below 17800 and right now taking support of ORANGE trend line. Nifty 50 is weak due to heavy-weight stocks like Reliance, HDFC Bank, etc., their chart is not looking bullish and shows signs of bearishness. If Nifty 50 is unable to close above 17800 then you can see the levels of 17650-17500 by taking support of RED trend line and if it breaks the RED trend line then you can see the free-fall of Nifty 50 to test the levels of 17000 or 16000 as per Fibonacci retracement. Nifty 50 is taking resistance of the BLUE trend line which is a level of 17800-18000 which is decisive for "MAKE or BREAK" level. The Elliot wave is showing bearish structure in Nifty 50 from its high.

 

Nifty 50: a day a candle

 In day chart of Nifty 50, the Fibonacci retracement is showing the levels of 17000 and 16000, the reason behind it is that the Nifty 50 never test these levels before going up. So, it is understandable that Nifty 50 will test these levels in coming months (not weeks). It is taking support of RED trend line and if it breaks then the levels of 17500 or more can be seen in next week, only. To make Nifty 50 in bullish trend, it has to close above 18000 levels and consolidate for few days, then we can see the upside rally, but it seems so that bearishness will continue to test the mentioned levels.

 

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)