Bank Nifty Trade Setup for 22nd July, 2021 – Bank Nifty Closes At 34415
Daily time frame – support – 33900
resistance - 35100
5 min time frame - resistance at 34900 and support at 34350
Sentiment of the Market – sentiment is bearish due to multiple result announcements
Intraday Action for Various Possibilities -
1) Opens Flat -
a) Goes Up- Buy CE only if it crosses 34550
b) Goes Down – Buy PE if it falls below 34100
2) Opens with Gap Up -
a) But Below 34550 - Buy CE only if it crosses 34900
b) Above 34550
i) Its going up - Buy CE only if it crosses 34900
ii) Its going down -Wait for it to bounce back from 34550 and buy CE when crosses 34900
if it breaks 34350 - then no trade till 34100
and if it breaks 34100 then Buy PE below 34100 till 33900 and beyond.
3) Opens with Gap Down -
a) Above 34350 - Wait for it to bounce back from 34350 and buy CE trade above 34550 only
b) Below 34350-
Keeps on falling then Buy PE up to a fall of 33900, support present at 34100
These Levels are for Safe Playing Traders Only and during Live Trading you can always make profit from Scalp Trading between these levels
Happy Trading
Daily time frame – support – 33900
resistance - 35100
5 min time frame - resistance at 34900 and support at 34350
Sentiment of the Market – sentiment is bearish due to multiple result announcements
Intraday Action for Various Possibilities -
1) Opens Flat -
a) Goes Up- Buy CE only if it crosses 34550
b) Goes Down – Buy PE if it falls below 34100
2) Opens with Gap Up -
a) But Below 34550 - Buy CE only if it crosses 34900
b) Above 34550
i) Its going up - Buy CE only if it crosses 34900
ii) Its going down -Wait for it to bounce back from 34550 and buy CE when crosses 34900
if it breaks 34350 - then no trade till 34100
and if it breaks 34100 then Buy PE below 34100 till 33900 and beyond.
3) Opens with Gap Down -
a) Above 34350 - Wait for it to bounce back from 34350 and buy CE trade above 34550 only
b) Below 34350-
Keeps on falling then Buy PE up to a fall of 33900, support present at 34100
These Levels are for Safe Playing Traders Only and during Live Trading you can always make profit from Scalp Trading between these levels
Happy Trading