BANK NIFTY 28/07/23
Here are the levels for Bank nifty to trade for tomorrow intraday and mark these levels on the chart as well. today we can see down trending and strong bearish engulfing candle formed on the daily TF. as tomorrow is a friday so we may see a inside candle. we can see on the 1HR TF there is a double top pattern formed on the top so if the price breaks the neckline and closed below we can see the further downside selling momentum.
if the price opens gap up near to the 46000 and if the candle on 15MIN TF closes strongly then we can take the long side entry on the pull back otherwise we can leave buying for tomorrow. if the price unable to close above it then we can see selling from the 46000 to the day low and the price may remain sideways.
if the price open flat or the small gap down and breaks the neckline of the double top pattern then on the retest we can take the short side entry only retest with the high volumes as confirmation or else it might be trap and may go up or price may move sideways.
TIP: always buy the at low and sell at high.
Here I mention only the high probability trades only. as intraday trader you can have multiple entries and exits according to your setups.
DISCLAIMER: This is my own analysis and you do your own analysis before you take any trade and I am not SEBI registered and contact your financial adviser before taking any trades .I am not responsible for your profit or loss. This is only for educational purpose and learning.
comment below if you have any doubts.
if the price opens gap up near to the 46000 and if the candle on 15MIN TF closes strongly then we can take the long side entry on the pull back otherwise we can leave buying for tomorrow. if the price unable to close above it then we can see selling from the 46000 to the day low and the price may remain sideways.
if the price open flat or the small gap down and breaks the neckline of the double top pattern then on the retest we can take the short side entry only retest with the high volumes as confirmation or else it might be trap and may go up or price may move sideways.
TIP: always buy the at low and sell at high.
Here I mention only the high probability trades only. as intraday trader you can have multiple entries and exits according to your setups.
DISCLAIMER: This is my own analysis and you do your own analysis before you take any trade and I am not SEBI registered and contact your financial adviser before taking any trades .I am not responsible for your profit or loss. This is only for educational purpose and learning.
comment below if you have any doubts.
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