Nifty and BankNifty analysis for tomorrow (11/02/2022)

 NIFTY CHART


OBSERVATION

  • As we discussed yesterday if the Nifty breaks the 17500 level with a 15 min strong candle then our first target will be 17600 or 17650.
  • We can see in the chart our first target was hit.
  • You can check here our today's targets.

Let's talk about today's market and some key points for expiry day:

  • As we can see in the chart, Nifty opened a small gap-up.
  • In the first 30 minutes, it shows a selling and then Nifty takes good support from our level which is 17429 (You can see in the given chart.)
  • Then Nifty gives a strong breakout over the 17500 level. 
  • And hit our first target which is 17650.
  • But our second target was not hit because of consolidation. 
  • When the market is consolidating in a range on expiry day then we should exit our positions. 
  • When the market breaks the consolidation range then maybe we should take another trade with strict SL.

Nifty levels for tomorrow:

For Upside:
  • When the Nifty breaks 17650 level with 15 min strong candle then our first target will be 17780 (You can see in the given chart also).
  • And the second target will be 17880.
  • Small target for Nifty (Let's suppose Nifty opens a small gap-down and breaks 17550 level then our target will be 17650 )
For Downside:
  • When Nifty breaks 17550 level with 15 min strong candle then our first target will be 17430.
  • And the second target will be 17340 or 17300.

NOTE:

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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 17780 and the second will be 17880.
  • 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.


BankNifty Chart


OBSERVATION

  • As we discussed yesterday if Banknifty breaks 38770 to 38850 level with 15 min strong candle then our first target will be 39200 and the second target will be 39400.
  • As we can see in the chart our first target was hit.
  • And our second target was not because the market is consolidating in a range.
  • You can check here our today's target.

BankNifty levels for tomorrow:

For Upside:
  • If the BankNifty breaks 39200 level with 15 min strong candle then our first target is small which 39355.
  • And the second target will be 39700, Only when the level of 39355 is broken by a strong candle.
For Downside:
  • If the BankNifty breaks the 38850 level with 15 min strong candle then our first target will be 38500 and the second target will be 38250 or 38200.
  • Trade with strict SL.

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 above 39200 level and makes 15 min strong candle then our target will be 39700.
  • 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.




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