Is this a reversal sign in Nifty and Bank Nifty?

 

 NIFTY CHART

OBSERVATION

• As we can see in the Nifty chart, in a one-hour time frame Nifty formed a Doji candle.
• As we all know Doji star appears at the bottom of a downtrend signaling possible reversal.
• If the market opens above the Doji candle or flat then we will possibly see a reversal in the Nifty.
• We can see in the Nifty chart 17600 is good support.
• If the Nifty could not sustain above the 17600 level then maybe selling will continue.

Nifty Levels for tomorrow:

• If Nifty opens flat or small gap-up and breaks 17700 level then our first target will be 17880 and the second target will be 18120 on the upside.
• If Nifty opens flat or small gap-down and breaks last low i.e 17490 then our first target will be 17300-17250 and the second target will be 17100 on the downside.
• All the levels act as support and resistance in the given chart, hope you understand.

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 breaks today's low i.e. 17490 with a strong 15-minute candle then our target will be 17250.
• And if the market opens flat or small gap-up then our first target will be 17880 and second will be 18120.
• 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.

BANK NIFTY CHART

OBSERVATION

• As we can see in the Bank Nifty one day chart, Bank Nifty also formed a Doji candle.
• As we all know Doji star appears at the bottom of a downtrend signaling possible reversal.
• If the market opens flat or above the Doji candle then possibly we see a reversal in the downtrend.
• As we can see in the given chart Bank nifty has good support at 37600.
• If the Bank Nifty could not sustain above the 37600 level then maybe selling will continue.

Bank Nifty levels for tomorrow to the upside:

• If the Bank Nifty opens flat or small gap-up and breaks last day high i.e 37750 then our first target will be 38000 and the second target will be 38400 and the third target will be 38850.

• All the levels in the given chart act as support and resistance, hope you understand.

• If the Bank Nifty doesn't achieve these levels on Monday then these levels will work on Tuesday or Wednesday. 

Bank Nifty Levels for tomorrow to the downside:

• If the Bank Nifty opens flat or small gap-down and breaks 37200 level then our first target will be 37000 and the second target will be 36550-36400.
• All the levels will act as support and resistance in the given chart, hope you understand.

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 opens flat or small gap up and breaks 37750 level then our first target will be 38000 and second 38400.
• 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.