Nifty & BankNifty – Intraday Trend Analysis

NIFTY
Timeframe – 1 Hour
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Nifty has formed the minor channel wherein price has made excess. This excess has driven prices into the minor channel.

The upper band of the channel indicates the supply zone. Rejection from the upper band has a strong bearish indication. In this case, nifty has the support of 17000 & 16800.

If the price breaks the upper band of the parallel channel, we can see the price can push to our pivot zone 17420. A breakout of the pivot range is a bullish indication for traders.
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BankNifty
Timeframe: 1 hour
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Bank Nifty is also facing resistance from the upper band of the parallel channel. Bank Nifty is bearish below 36420 for the support levels of 36250 – 36000 – 36800.
If the price sustains above the parallel channel, nifty can face the resistance at 36900..

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NSE NIFTY & BANK NIFTY: Case Of Night Attack

Did you read our Nifty & Bank Nifty research report in the morning?
NSE NIFTY & BANK NIFTY ARE PREPARING FOR A PULLBACK?

NIFTY:

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Before

In our research report, we mentioned, “Nifty has broken down the lower band of channel B. If the price beaks face resistance at the lower band, the price may fall to the support level 17000 – 16912 – 16800.”

I am not an admirer of trend change without confirmation. I also added that The bull trend can only be possible during the breakout of 18121.

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AFTER

Nifty has given a pullback of 17276, but fails to break 17300. Nifty Broke down the value area at 17067, and the price has started falling for our mentioned levels. 

3:05 PM – Nifty reached the first target of 17000.
3:15 PM – Nifty reached the second target of 16912.
3:25 PM – Nifty Made a low of 16824.

BANK NIFTY

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I have mentioned in clear words that, “If the price breaks down the parallel channel & sustains below 36500, it will be a bearish signal because 36500 is a pivot level.”

After the breakdown of 36500, Nifty fell by more than 570 points in just 25 minutes.
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NSE Nifty & Bank Nifty Is Preparing For Pullback

In the previous article, I have mentioned the weakness or gap down. Yesterday, nifty opened in a gap-down of 219 points.
Click Here: NIFTY OUTLOOK: IS NIFTY PREPARING FOR 16800?

NIFTY
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Today, we can expect a pullback to the current move, which will go up to the upper band of the B channel.
Nifty has broken down the lower band of channel B.

If the price beaks face resistance at the lower band, the price may fall for the support level 17000 – 16912 – 16800.

The key level for the up move is 17250. If the price sustains above the 17250, traders can expect resistance levels: 17300 – 17425 – 17466.

Don’t forget trend never moves in a straight line. It creates lows and highs. The bull trend can only be possible during the breakout of 18121.

BANK NIFTY

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Bank Nifty has completed the zigzag pattern at 38759 with 0.786% Fibonacci extension. This down move has also broken down the ABC channel.

The market never stops its cyclical move. Yesterday, Bank nifty touched the lower band of the minor parallel channel. Nifty had made the range between 36965 & 36526
If the price respects the parallel channel, traders can expect a good up move to 37150 – 37251 – 37315

If the price breaks down the parallel channel & sustains below 36500, it will be a bearish signal because 36500 is a pivot level.
However, the assumption of a positive day can be possible as the global market is +ve.

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Part 2: NSE BankNifty – Technical Analysis

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Click the below link to read today’s pre-market BankNifty Intraday Call:
NSE BankNifty: Technical Analysis

Today morning at 9 AM, I had written, “…It will try to retest 35260 – 34880 – 34600 levels this week”.

niftyfuture

It has touched the first target at 9:22 AM.
Will it touch the second target? Further information will be available soon.

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NSE BankNifty: Technical Analysis

First, I recommend reading the previous report of BankNifty.
Link: BANKNIFTY Can’t Wait to Fall – Even Without NIFTY’s Help

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According to technical analysis, Banknifty is trying to collapse. It needs solid support to reenter into the uptrend channel. The strong support is nearby the 34600 level. It will try to retest 35260 – 34880 – 34600 levels this week.

The uptrend will start in below two conditions:

  • If Banknifty remains above the uptrend channel.
  • If Banknifty breakout the parallel channel.

MACD, DMI, MA, and Volume are signaling bears are stepped in.

What will happen if conditions break? Don’t miss reading the next report…

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NSE BankNifty, Apollo Hospital, Bajaj Auto – Trading Calls

Did you sell Bajaj Auto? Click on the below link to read the pre-market free tips of Bajaj Auto. Wherein I had said to sell today at the opening bell.

[Yesterday] 6:00 PMIs NSE Bajaj Auto at The Tipping Point To Start Bearish Move?

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Bajaj auto was on the upper band of the parallel channel and facing the resistance. Price was stuck on the pivot level 3629.

I had mentioned in bold words, “Price is bullish above pivot level 3629, But if the price fails to break the crucial pivot, traders can go short for the following targets: 3573 – 3441 – 3345“.

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AFTER

Today, Bajaj Auto reached the first target of 3573 and made a low of 3564. Will it hit the second target? Price sentiments are bearish and more supply will drive price to another lower low price.

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NSE Apollo Hospital Free Call

Apollo hospital was on the crucial equilibrium level 4745. Today, the price broke down. So we can expect more collapsing here.

Furthermore, have you read my pre-market free tips report of Apollo Hospital? If not, click on the below link:
NSE Apollo Hospital Sentiment Speaks OMG It’s A Bearish Price Pattern

I had said in clear words, “If the price breaks the crucial level of 4745 and sustains below it, a trader can expect the following targets: 4705 – 4635 – 4564 below.”

TODAY:
9:15 AM – Apollo Hospital reached the first target of 4705.
10:05 AM – Apollo hospital reached the second target of 4635.
10:50 AM – Apollo hospital reached the final target of 4564.

If you have traded this setup, you could grab 272+ points in just 2 hours!

BANKNIFTY Can’t Wait to Fall – Even Without NIFTY’s Help

Did you sell BankNifty yesterday?

Read yesterday’s pre-market trading calls report of BankNifty by clicking the below link [Profit Per Lot: Rs.27,000+]:
NSE Banknifty Break-out OR Fake-out?

I had written, “If Banknifty doesn’t cross/close above the second level, you should prepare for the following targets: 36000 – 35800 – 35400 below”.

Yesterday at 12:40 PM – The first target of 36000 has reached.
Today at 9:15 AM – The second target of 35800 touched.
Today at 12:30 PM – The third target of 35400 (Low – 35384) has arrived. And BankNifty is started moving upward. Why?

Will it fall or skyrocket from the last target? To become a subscriber, subscribe to our free newsletter services. Our service is free for all.

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