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.