Bank Nifty Intra Day Trade Strategy for 26/7/21
Bank Nifty Trade Setup for 26th July, 2021 – Bank Nifty Closes At - 35034
Daily time frame – support – 34400
resistance - 35350
Upward trendline support - happens to be at 35000
5 min time frame - resistance at 35200 and support at 34900
Sentiment of the Market – sentiment is bullish
Intraday Action for Various Possibilities -
1) Opens Flat -
a) Goes Up- Buy CE only if it crosses 35100
b) Goes Down – Buy PE if it falls below 34700
2) Opens with Gap Up -
a) But Below 35100 - Buy CE only if it crosses 35200
b) Above 35100
i) Its going up - Buy CE only if it crosses 35200
ii) Its going down -Wait for it to bounce back from 35100 and buy CE when crosses 35200
if it breaks 34900 - then no trade till 34700
and if it breaks 34700 then Buy PE below 34700 till 34400 and beyond.
3) Opens with Gap Down -
a) Above 34900 - Wait for it to bounce back from 34900 and buy CE trade above 35100 only
b) Below 34900-
Keeps on falling then Buy PE up to a fall of 34400, support present at 34700
These Levels are for Safe Playing Traders Only and during Live Trading you can always make profit from Scalp Trading between these levels
Daily time frame – support – 34400
resistance - 35350
Upward trendline support - happens to be at 35000
5 min time frame - resistance at 35200 and support at 34900
Sentiment of the Market – sentiment is bullish
Intraday Action for Various Possibilities -
1) Opens Flat -
a) Goes Up- Buy CE only if it crosses 35100
b) Goes Down – Buy PE if it falls below 34700
2) Opens with Gap Up -
a) But Below 35100 - Buy CE only if it crosses 35200
b) Above 35100
i) Its going up - Buy CE only if it crosses 35200
ii) Its going down -Wait for it to bounce back from 35100 and buy CE when crosses 35200
if it breaks 34900 - then no trade till 34700
and if it breaks 34700 then Buy PE below 34700 till 34400 and beyond.
3) Opens with Gap Down -
a) Above 34900 - Wait for it to bounce back from 34900 and buy CE trade above 35100 only
b) Below 34900-
Keeps on falling then Buy PE up to a fall of 34400, support present at 34700
These Levels are for Safe Playing Traders Only and during Live Trading you can always make profit from Scalp Trading between these levels
Penafian
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