Bank Nifty Intra Day Trade Strategy for 24/6/21

23 июн. 2021 г.

Bank Nifty Analysis – 24/6/21 Bank Nifty Closes At - 34574
Daily time frame – support – 34250
resistance - 35300

Upward trendline support - happens to be at 34250

5 min time frame - resistance at 34900 and support at 34500

Sentiment of the Market – sentiment is bearish

Intraday Action for Various Possibilities -
1) Opens Flat -
a) Goes Up- Buy CE only if it crosses 34650
b) Goes Down – Buy PE if it falls below 34350

2) Opens with Gap Up -
a) But Below 34650 - Buy CE only if it crosses 34900
b) Above 34650
i) Its going up - Buy CE only if it crosses 34900
ii) Its going down -Wait for it to bounce back from 34650 and buy CE when crosses 34900
if it breaks 34500 - then no trade till 34350
and if it breaks 34350 then Buy PE below 34400 till 34200 and beyond.

3) Opens with Gap Down -
a) Above 34500 - Wait for it to bounce back from 34500 and buy CE trade above 34650 only
b) Below 34500-
Keeps on falling then Buy PE up to a fall of 34250, initial support present at 34350

These Levels are for Safe Playing Traders Only and during Live Trading you can always make profit from Scalp Trading between these levels