BANK NIFTY AND NIFTY ANALYSIS FOR TOMORROW (14/01/2022)

 BANK NIFTY CHART

OBSERVATION

• As we discussed Yesterday if the market could not sustain the level 38780 then our first target will be 38380.
• If we see today's market, our first target is hit.
• Today's market resistance is 38850 and support 38400.

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 break today's low then our first target will be 38090.
• And the second target will be 37830.
• And if the market opens flat or small gap-up then we have to wait for price action and break out of today's high.
• trade with strict SL.

• As we can see in a 1-hour time frame bank nifty formed ascending channel pattern.
• Yesterday we discussed if the market break this pattern then we can see a good move on any side.
• Today market gave a breakdown in ascending channel pattern.
• Now we have to wait for tomorrow's bank nifty opening.
• If the market open gap down then we can see selling in bank nifty

DISCLAIMER:- THIS BLOG IS ONLY FOR STUDY PURPOSES.

NIFTY 50 CHART

OBSERVATION

• As we can see in 15 min time frame, nifty formed a double bottom pattern.
• Today's nifty resistance is 18270 and support 18200.
• If the market opens flat and breaks the 18270 level then our first target will be 18350 on the upside and 18200 on the downside.
• All the levels act as resistance and support.
• If the market opens a big gap-up, then wait for price action.
• Don't jump into the trade at the beginning of the market.

• In a one-hour time frame, nifty formed ascending channel pattern.
• If it gives a breakout on any side then we will see a good move on any side.
• wait for a breakout.

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 break today's support that is 18200 then our first target will be 18120.
• And the second target will be 18060.
• And if the market opens flat or small gap-up then our first target will be 18350
• trade with strict SL.

DISCLAIMER:- THIS BLOG IS ONLY FOR STUDY PURPOSES.