BankNifty

[Nish]

Good upmove of 1150 pts in BN from 34650 to 35800 in 72 working HOURS !

More Good Dnmove of 300 pts from 35800 to 35500 in just 72 MINUTES !

Anyways, Once Break-out abv 35300 sustained, 35800 achieved as mentioned in one erlier chart of 22June2021 !!

 

[Nish]

For my own trading view:

1) As mentioned in last week of June, HDFC Ltd, once sustaining abv 2500 giving good expected upside !

2500CE, 2550CE, 2600CE and 2650CE nearly doubled from days low. ( Lotsize 300 ).

2) N cp = 15879.
N bullish as long stays abv 15860 and once starts sustaining abv 15952 may give 16000 plus.

3) BN cp = 35771.
BN good sup at 35750. Resi in 35950 to 36080 range abv which short covering may unfold for a rally upto 36650 plus !


View strictly for STUDY PURPOSE !

 

[Nish]

Once N breached down 15860 , which I have mentioned in last post , it became bearish !

N below 15700 and filled gap around 15735 !

For my own trading , NOW I would avoid shorts in N and BN and would watch for opportunities to go LONG !


View strictly for STUDY PURPOSE !

 

[Nish]

Ajantapharm in my watchlist !

 

[Nish]

N 15Jul2021 15700CE from low of 75 to high 100 till now.
Quick 25 pts !

BN 15Jul2021 35000CE from low of 295 to high 414 till now.
Quick 120 pts !

Approx 350 pts bounce from days low in BN till now !

All in just an hour !

CDSL crossed 1Cr Demats in last 6 mnths, seems more traders getting attracted to market in lockdowns !

View strictly for STUDY PURPOSE !

 

[Nish]

Weekend View
For my own trading:

N if bounced and sustain abv 15748 may continue till 15790 t0 15820 zone !

BN if bounced and sustain above 35290 may continue till 35460+ !

Bullish positions should be with proper SL.

Breaking todays low may be painful !!

View strictly for STUDY PURPOSE !

 

[timepass]

BN just about kissed its 3ema and shied from there

 

[Nish]

N cp 15766.
As mentioned in last post, abv 15748 , N moved towards 15780 ( 15790 missed a bit ) !

For my own trading , N is Bullush but range-bound !

As per attached chart , better move only after B/out or B/Down from the range shown in the chart !

View strictly for STUDY PURPOSE !

 

[Nish]

As mentioned in todays prvs post, Once N broke out of range, 15748 to 15790 , below 15748 N slide dn to 15655 till now.

N 15Jully2021 15700PE gave nearly 80 plus pts in just 4 hrs, from low of 32 tohigh of 112 till now !

But personally I would avoid positional short positions in N , here onward ! Would watch N and BN moves tomorow morning and will decide then !

View strictly for STUDY PURPOSE !

 

[Nish]

N cp 15747.

So my ydays view to avoid positional shorts proved correct , due to todays Gap-up.

For my own trading today:

I would avoid any intra shorts in N and BN, because if 15700 sup holds, then a scale-up abv 15800 cannot be ruled out.

And sustaining abv 15800 may force un-winding to take N towards 15840 plus.

In short, any shorts should be with proper SL !

View strictly for STUDY PURPOSE !