Nifty and Bank Nifty Analysis For Tomorrow (20/01/2022)

NIFTY CHART

OBSERVATION

• As we discussed yesterday if Nifty breaks the level of 18060 then our first target will be 18000 and the second target will be 17950.
• As we can see in the Nifty chart, our both targets were hit.
• You can see my today's levels here which I gave yesterday.

Now let's talk about today's market:

1. As we can see in the chart, we saw a good selloff after breaking the ascending channel pattern.
2. We can see in the chart, our both targets were hit in the first half.
3. Then Nifty took support from our second target which is 17950.
4. And in the second half, we saw a good selloff also.
5. But in the last hour, Nifty took resistance from our second target which is 17950.
6. If the Nifty breaks today's low, then maybe we can see a good sell for tomorrow.

Nifty levels for tomorrow:

• If Nifty opens in flat or small gap-down and breaks today's low i.e 17880 then our first target will be 17788 on the downside.
• And the second target will be 17700 on the downside.
• If Nifty opens in flat or small gap-up and breaks the range 17950-17965 with 15 min strong candle then our first target will be 18000 on the upside and the second target will be 18060.

Trading 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 large gap-ups and gap-downs.
• All the levels in the chart will act as resistance and support, hope you understand.
• If the market opens flat or below the small gap, we will see a selloff in the first half.
• If the market breaks today's low i.e. 17880 with a strong 15-minute candle then our target will be 17788.
• And if the market opens flat or small gap-up then our first target will be 18000 and second will be 18060.
• Trade with strict SL.

• As we can see in the one-hour time frame, Nifty breaks the ascending channel pattern.
• If the market breaks today's lows then maybe we can see a good sell for tomorrow also.

Disclaimer:-  All the information on this website is for educational purposes only, please do your own analysis before taking any trade. If you wish to trade in any of these, consult a certified investment advisor first. We will not be responsible for any profit or loss caused by you.

BANK NIFTY CHART

OBSERVATION

• As we discussed yesterday if Bank Nifty breaks the level of 38000 then our first target will be 37830 and the second target will be 37600 or 37480
• As we can see in the Bank Nifty chart, our first target was hit. 
• Bank Nifty break the first target and did not give a breakout, so our second target was not hit.
• You can see my today's levels here which I gave yesterday.

Now let's talk about today's market:

• We can see in the chart. In the first half, Bank Nifty tried to give a breakout below the level of 38000 but could not give a strong breakout.
• In the second half, it gave a  breakout below the level of 38000 and hit our first target i.e 37830.
• Now we can see Bank Nifty close above the level of 38000.
• This means that the major support of Bank Nifty is 38000.

Bank Nifty levels for tomorrow:

• If Bank Nifty opens in flat or small gap-down and breaks 38000 level with a strong candle then our first target will be 37830 on the downside.
• And the second target will be 37600 or 37480 on the downside.
• If Bank Nifty opens in flat or small gap-up and breaks 38200 level with 15 min strong candle then our first target will be 38400 on the upside and the second target will be 38600.

Trading 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 large gap-ups and gap-downs.
• All the levels in the chart will act as resistance and support, hope you understand.
• If the market opens a flat or small gap-down, we will see a selloff in the first half.
• If the market breaks the key support which is 38000 then our target will be 37830.
• And if the market opens flat or small gap up and breaks 38200 level then our first target will be 38400 and second 38600.
• Trade with strict SL.

Disclaimer:-  All the information on this website is for educational purposes only, please do your own analysis before taking any trade. If you wish to trade in any of these, consult a certified investment advisor first. We will not be responsible for any profit or loss caused by you.