BANK NIFTY 19JAN LEVELS
Summary of BN 18Jan Trade
1. FII and smart money tricked the retail traders as usual. The market structure was already sitting very bearish therefore the expeted sentient was bearish and they took 800 points up and dropped. What a steep fall at level aready given on the chart
2. BN made a double top M and whenever a double top M like pattern the fall is big but todays was massive
3. On daily chart a bearish hammer on Bank Nifty and huge bearish big candle on Nifty chart. Market structures are weak or this expiry although month expiry as of now has a positive PCR
Plan for BN 19Jan
1. If market opens grren candle, I will still be looking at bearish Put Buy opportunity therefore wait for 38400/500 level , good for PE buy basis price action that unfolds on chart
2. If market opens flat 38200 will take support and move up and come down as in point 1. Market always take up to resistance and then gives big fall like today and that level could be 38400/500
3. If market opens with a bred candle then market can take support at around 38000 levels and move up and then fall
Tip of the day- Buy always below CMP and sell always above CMP
Happy Trading
1. FII and smart money tricked the retail traders as usual. The market structure was already sitting very bearish therefore the expeted sentient was bearish and they took 800 points up and dropped. What a steep fall at level aready given on the chart
2. BN made a double top M and whenever a double top M like pattern the fall is big but todays was massive
3. On daily chart a bearish hammer on Bank Nifty and huge bearish big candle on Nifty chart. Market structures are weak or this expiry although month expiry as of now has a positive PCR
Plan for BN 19Jan
1. If market opens grren candle, I will still be looking at bearish Put Buy opportunity therefore wait for 38400/500 level , good for PE buy basis price action that unfolds on chart
2. If market opens flat 38200 will take support and move up and come down as in point 1. Market always take up to resistance and then gives big fall like today and that level could be 38400/500
3. If market opens with a bred candle then market can take support at around 38000 levels and move up and then fall
Tip of the day- Buy always below CMP and sell always above CMP
Happy Trading
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