NIFTY AND BANK NIFTY ANALYSIS FOR TOMORROW(17/01/2022)

 NIFTY  CHART

OBSERVATION

• As we discussed yesterday if the market opens a gap-down then our first target will be 18120.
• As we can see in Nifty50 15 min chart, Our first target was hit. You can check here our yesterday levels. Click here

Now let's discuss today's market.

1. If we see nifty resistance, that is 18270.
2. In the last 2 days, nifty could not break the 18270 level.
3. So we can say that it's a major resistance for nifty at that time.
4. Today nifty resistance is 18270 and support is 18120.
5. If nifty breaks this level then it may go long on the upside.

Nifty50 Levels for tomorrow :

1. If nifty breaks the 18270 level then our first target will be 18350 on the upside.
2. And the second target will be 18400 on the upside.
3. If nifty breaks the 18200 level then our first target will be 18120 on the downside and the second target will be 18060.
4. All the levels act as support and resistance in the chart, hope you will understand.

• 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 for long.
• Wait for a breakout.

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 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:- ALL THE INFORMATION IN THIS BLOG IS ONLY FOR EDUCATION PURPOSES.

BANK NIFTY CHART

OBSERVATION

• As we discussed yesterday if the market breaks the 38400 level then our first target will be 38090 on the downside.
• We can see in the bank nifty chart our first target was hit in the first half.

Now let's discuss today's market.

1. We can see in the bank nifty chart a cup and handle pattern is formed.
2. As we know cup and handle pattern is used to predict the uptrend in the market.
3. In the first half, we see a good selling in the market, and in the second half, we see a great buying.
4. Today bank nifty support is 38090 and resistance is 38400.
5. And the major support of bank nifty is 38000, according to Option chain.

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 break today's low 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.

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