BANK NIFTY AND NIFTY ANALYSIS FOR TOMORROW (18/01/2022)

 BANK NIFTY CHART

OBSERVATION

• As we discussed yesterday if the Bank Nifty breaks the 38400 level then our first target will be 38600.
• We can see in the Bank Nifty chart our first target was hit in the first half.
• You can check here our today's targets.

Now let's discuss today's market:

1. As we can see in the Bank Nifty chart, the first candle breaks the 38400 level but it did not give a breakout over the level.
2. And we can see in the chart the Bank Nifty taking resistance from 38400 in last 2 days.
3. So we can say that this is the major resistance for Bank Nifty at the moment.
4. Today Bank Nifty resistance is 38400 and support is 38150.
5. According to Option Chain major support of Bank Nifty is 38000.

Bank Nifty levels for tomorrow:

1. If Bank Nifty breaks the 38400 level then our first target will be 38600 on the upside.
2. And the second target will be 38770 on the upside.
3. If Bank Nifty breaks the 38000 level then our first target will be 37830 on the downside and the second target will be 37490.
4. All the levels act as support and resistance in the chart, hope you will understand.

TRADE SETUP FOR TOMORROW 

• Don't trade at the beginning of the market, let it make price action.
• Avoid big gap-up and gap-down.
• All the levels will work as resistance and support in the chart, hope you will understand.
• If the market opens flat or small gap down then we will see selling in the first half.
• If the market breaks major support that is 38000 then our first target will be 37830.
• And the second target will be 37490.
• And if the market opens flat or small gap-up then our first target will be 38600 on the upside, and the second target will be 38770.
• Trade with strict SL.

DISCLAIMER:- ALL THE INFORMATION IN THIS BLOG IS ONLY FOR EDUCATION PURPOSES, DO YOUR OWN ANALYSIS BEFORE TAKING ANY TRADE. 

NIFTY CHART

OBSERVATION

• As we can see in a 1-hour time frame Nifty formed an ascending channel pattern.
• If it gives a breakout on any side then we will see a potential trade.
• If the market opens 100 points gap down tomorrow, then the ascending channel pattern will break and maybe we will see a fall in the market.

Nifty50 Levels for tomorrow :

1. If nifty breaks the 18200 level then our first target will be 18120 on the downside and the second target will be 18060.
2. If nifty breaks the 18300 level then our first target will be 18400 on the upside.
3. And the second target will be 18450 on the upside.
4. All the levels act as support and resistance in the chart, hope you will understand.

TRADE SETUP FOR TOMORROW 

• Don't trade at the beginning of the market, let it make price action or wait for 5,15 min candle.
• Avoid big gap-up and gap-down.
• All the levels will work as resistance and support in the chart, hope you will understand.
• If the market opens flat or small gap down then we will see selling in the first half.
• If the market break today's support that is 18270 then our first target will be 18200.
• And the second target will be 18120.
• And if the market opens flat or small gap-up then our first target will be 18350 and second will be 18400
• Trade with strict SL.

DISCLAIMER:- ALL THE INFORMATION IN THIS BLOG IS ONLY FOR EDUCATION PURPOSES, DO YOUR OWN ANALYSIS BEFORE TAKING ANY TRADE.