Nifty and BankNifty analysis for tomorrow(09/02/2022)

BANKNIFTY

OBSERVATION

• As we discussed yesterday if the BankNifty breaks 37800 level with a 15-minute strong candle then our first target will be 37400 and the second target will be 37200 or 37000.
• We can see in the chart our first target was hit.
• You can check here our today's target.

BankNifty Targets for tomorrow:

For Upside:

• If the BankNifty breaks the 38400 level with a strong candle then our first target will be 38850 and the second target will be 39000 or 39200.
• Short target for Upside (let's suppose BankNifty opens flat or small gap-up or small gap-down and breaks today's high which is 38150 then our target will be 38400 with strict SL.)

For Downside:

• If the BankNifty breaks 37800 level with a 15-minute strong candle then our first target will be 37400 and the second target will be 37200 or 37000.
• Short target for Downside ( Let's suppose BankNifty opens flat or small gap-up or small gap-down and breaks 37850 level then our target will be 37600 with strict SL.)
• Trade with strict SL.

NOTE:

• Please share our website with your friends and family and on social media also.
• If you do then we will upload daily technical analysis on some stocks. Like swing trades stocks, Intraday stocks, Resistance and Support stocks.

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 small gap up and makes 15 min strong candle above the 38000 then our first target will be 38400 and the second target will be 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.

NIFTY CHART

OBSERVATION

• As we discussed yesterday if the Nifty breaks today's low which is 17100 approx then our first target will be 17000 and the second target will be 16950.
• Unfortunately, our both targets were not hit due to the Nifty opening.
• Nifty covered 230 points from opening to our breakout level. Then it got a good reversal.

Nifty levels for tomorrow:

For Upside:

• If the Nifty breaks 17300 with a strong candle then our first target will be 17400 and the second target will be 17550 or 17600.
• Trade with strict SL.

For Downside:

• In my opinion, I'll trade for the downside only if the Nifty breaks today's low which is 17050 with a strong candle.
• Then our first target will be 16950 and the second target will be 16866. 
• Trade with strict SL.

NOTE:

• Please share our website with your friends and family and on social media also.
• If you do then we will upload daily technical analysis on some stocks. Like swing trades stocks, Intraday stocks, Resistance and Support stocks.

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 small gap-up then our first target will be 17400 and the second will be 17550.
• 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.