BANK NIFTY TIPS

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BankNifty target 28345 nearby and pullback with time

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Previous support existing at 28530
and intraday target 28342 of Chanel.

Finally, intraday support is at 28340 nearby.
We may see a pullback 11 o clock nearby.

  • Long term tight channel since 2016.
  • 3 excesses at the value and one excess at value low.
  • 5 waves are completed.
  • A previous Resistance and Wave(3) at 28227(can be upcoming support).
  • 50 days moving average is at 28080 nearby (too far for work as support).
  • Measurement of all falls mentioned in the chart, as per this measurement expected current until 13th Aug 2019(approx. plotted).

Conclusion: From a longer perspective, there is a still Problem in Banknifty,

Updated at 9:35 AM 31st July 2019

PLAN A : SELL BANKNIFTY AUG future 28935 nearby and stop loss 28950 above fort targets 28725 and 28465-28500 intraday

PLAN B:


Detection Turning candle at value low (low of Channel). Normal pull-back should be above 11120 above on spot nifty.

Real support of the channel is at 10958 nearby. We have seen two recent Candle which is sign for PULLBACK . I was expecting pull-back after 11 o clock. 

TRADE PLAN A: Buy NIFTY future Aug. 10915-10950 with stop loss of 10900 and targets 11125-111227

TRADE PLAN B: BUY NF aug. 11035 above with stop loss 11000 for targets 11125-11145 and 11190

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There Is Not More About BANKNIFTY Expected Channel Support

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Everything is mentioned in the chart

On Jul 18 2019 mentioned that Resistance(30840 nearby) available.

There is still more in small 4 channels of trend is up while 5th Channel is a flat trend.

On the date Jul 14 2019 BankNifty at support of channel

  • Banknifty also difficult to understand as wave movements.
  • Price is near the channel support.
  • Smaller positive new can boost banknifty to upward from the value low.

Banknifty is positive which indicate the direction is not clear and market waiting for news.

We have also gone to smaller time frame to get more confident for the way.

We detected 5 channels in recent created.
After breaking the channel, we have seen a minimum 1000 points move.

We are standing at the ending of the channel, ready for minimum 1000 points move.

Considering this, you will find two Flag Patterns which are indicated by a black line with an arrow. If you observe closely flag-pattern (i), and then you can clearly see a picture of the future if not wrong anything.

What we have mentioned in the past has verbatim followed, you can check out above charts also for clear perceptive.

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BankNifty footprint with clearities

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Resistance(30840 nearby) available from two factors,

  • 1 “Control Price” of main channel.
  • 2 (3) wave count of Channel.

In moreover I plotted 5 small channel the l into main channel. The 5th channel is absolutely different from all other channels which is shown with yellow color. There is still more in small 4 channels of trend is up while 5th Channel is a flat trend.

Something is going to become inaccurate. Look at the yellow two-box, if you detect this type of move during the market hours will result in your Big move in against direction.

Weekly Expiry.

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Intraday Trade SETUP for BANKNIFTY

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The small value area and narrow channel are plotted on the chart.
For the long trader, the value area found the support at 31186 nearby.

NOTE: Trade always requires verification of move by the few of the points due to live market hours. I will best try to update at live market hrs.

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BANKNIFTY, When to take action?

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When to take action?
Answer: buy when the price is below value low, and sell while price makes excess above the value high.

The Control price always attracts the price which your profit booking zone.

I’ll take action only when making an excess.

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Banknifty Footprint will guide exact trade entry

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These call were given to our paid subscriber  the target was achieved:

SHORT INDIGO fut 1514-1522 and stop-loss 1530 and targets 1464-1414

Yesterday target achieved…
BUY CADILAHC intraday cash 273.5-271 and stop-loss will be 270 below and 286-294 intraday if close above 285.. then hold it 301-314.

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  • There are two excess found above the Value High. 
  • 3-price rotation, on the value area. 
  • Above the control price, there are not trading activities detected. 
  • Last closed price is at control price. 

Conclusion, Buyers always look at excess 28429 of value low and sellers attraction should be at excess 29316 of value high.

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