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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Nifty Outlook: Is Nifty Preparing for 16800?

Thought of The Day

Thought Of The Day
I have two basic rules about winning in trading as well as in life.
(1) If you don’t bet, you can’t win
(2) If you lose all your chips, you can’t bet.
~ Larry Hite

Timeframe: Daily
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Previous close – 17475

Nifty had made a high of 18114 and started falling as the price was heaving  horizontal resistance. Price couldn’t sustain above previous Lower high and started declining.

Nifty is at the support of 17440. Traders can expect a gap down.

If the price breaks out to 17440, the support level will be 17300 – 17000 – 16800. Nifty is strong only above 16600, and closing below 17230 indicates weakness.

Time frame: 1-hourFree nse nifty 60min chart calls

It looks like nifty has broken down the uptrend channel A and started falling. Price is forming and moving into corrective channel B.

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NSE Nifty Has Completed The Correction Phase But…

Did you read Nifty’s research report?
[Yesterday] NSE NIFTY Rebound Change Of Trend Or Just A Correction?

Free nse nifty chart callsBEFORE

Nifty has formed the value area where supply and demand were a deadlock. Destruction of the equilibrium zone is evidence of a big move.

Price was also on the control line of the parallel channel, and the Price crossed 50 MA.

I have mentioned in bold words, “If the Nifty breaches the upper band, we can expect 17365 – 17562 – 17600.”

Free nse index nifty chart calls AFTER

[Today]

  • 09:15 AM: Nifty touched the first target of 17365.
  • 11:10 AM: Nifty made a high of 17507.

Will Nifty reach the second target of 17562?

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NSE NIFTY Rebound Change Of Trend Or Just A Correction?

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Nifty has been forming a downtrend channel for 140 days. After creating excess on the descending channel, the price has surged sharply.

Price surge stopped between the range of 17110 – 17144. It connotes that nifty can give a big move after the breakout of the parallel channel.

If the Nifty breaches the upper band, we can expect 17365 – 17562 – 1760.

The breakdown of the lower boundary can drive the nifty up to 17026 – 16955 – 16880.

Otherwise, nifty will be the value area until it breaks these levels.

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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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