Bank Nifty for August 24th

23. Aug. 2022

Hi All,
I am posting my views here based on my analysis and knowledge, please do your own analysis before taking up any trades.

What a day guys, what a day, MARKET exactly worked as per my analysis and I had made my first 50K Intraday PROFIT. I had seen many losses like these all these days but finally my HARDWORK of more than 3 years has given me a GOOD SUCCESS today. That's why follow the RULES and PROCESS, Money will follow you, don't focus on only Money, you can never become profitable.

NOTE: I had clearly updated in my yesterday's analysis that I am expecting a DOJI or GREEN candle as market is going down continuously, this is what exactly happened today, again a Huge Gap Down and then a Huge short covering.

My setup suggested me to go Long Today from the first candle itself, and I had traded in only CE's today.

My view for tomorrow:

Note: Please don't get confused with too many support and resistance lines that are present in my chart, they are for our reference only and they will guide us where market can go.

1. Gap Up opening: Wait for a retracement till 38852 and 38771, and after retracement if the price action supports upward movement, go long. Immediate resistance is at 39096 and 39142.

Note: Huge Gap Up above 39142, then we have to be very careful, we don't know whether market will still go up or where it will take retracement, if this happens please be careful and trade as per price action.

2. Flat to Gap Down opening: Immediate support is at 38771 and 38632, market can test these levels again and then bounce back.

Tip of the Day: Think 1000 times before entering a trade, no problem, but after entering a TRADE you should wait for the trade to work, either it should hit our target or Stop loss, if you are still thinking too much after entering a TRADE that means its not a GOOD Trade.

TRADING IS SIMPLE BUT NOT EASY, IT SHOULD BE SIMPLE.

Reach out to be on 9989647590 for further updates.