Bank Nifty Intra Day Trade Strategy for 27/7/21
Bank Nifty Trade Setup for 27th July, 2021 –Bank Nifty Closes At – 34,950
Daily time frame – support – 34,400
resistance – 35,350
Upward trendline support - happens to be at 34,400
5 min time frame - resistance at 35,150 and support at 34,850
Sentiment of the Market – sentiment is neutral
Intraday Action for Various Possibilities -
1) Opens Flat -
a) Goes Up- Buy CE only if it crosses 35,050
b) Goes Down – Buy PE if it falls below 34,700
2) Opens with Gap Up -
a) But Below 35,050 - Buy CE only if it crosses 35,150
b) Above 35,050
i) Its going up - Buy CE only if it crosses 35,150
ii) Its going down -Wait for it to bounce back from 35,050 and buy CE when crosses 35,150
if it breaks 34,850 - then no trade till 34,700
and if it breaks 34,700 then Buy PE below 34,700 till 34,400 and beyond.
3) Opens with Gap Down -
a) Above 34,850 - Wait for it to bounce back from 34,850 and buy CE trade above 35,050 only
b) Below 34,850-
Keeps on falling then Buy PE up to a fall of 34,400 support present at 34,700
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 – 34,400
resistance – 35,350
Upward trendline support - happens to be at 34,400
5 min time frame - resistance at 35,150 and support at 34,850
Sentiment of the Market – sentiment is neutral
Intraday Action for Various Possibilities -
1) Opens Flat -
a) Goes Up- Buy CE only if it crosses 35,050
b) Goes Down – Buy PE if it falls below 34,700
2) Opens with Gap Up -
a) But Below 35,050 - Buy CE only if it crosses 35,150
b) Above 35,050
i) Its going up - Buy CE only if it crosses 35,150
ii) Its going down -Wait for it to bounce back from 35,050 and buy CE when crosses 35,150
if it breaks 34,850 - then no trade till 34,700
and if it breaks 34,700 then Buy PE below 34,700 till 34,400 and beyond.
3) Opens with Gap Down -
a) Above 34,850 - Wait for it to bounce back from 34,850 and buy CE trade above 35,050 only
b) Below 34,850-
Keeps on falling then Buy PE up to a fall of 34,400 support present at 34,700
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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