Nifty and BankNifty anlaysis for tomorrow(08/02/2022)

 

 NIFTY CHART

OBSERVATION

•  As we discussed yesterday, If the Nifty breaks the 17400 level with a strong 15 min candle then our first target will be 17250 and the second target will be 17100.
• We can see in the chart that both targets were hit.
• You can check here our today's targets.

Nifty levels for tomorrow:

For Upside:

• If the Nifty breaks the 17250 level and gives a strong breakout for upside then our first target will be small which is 17350 and the other targets will be 17400 or 17500.
• Trade with strict SL.

For Downside:

• 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.
• And the third target will be 17860.
• 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 flat or small gap-up then our first target will be 17350 and the second will be 17400.
• 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 the BankNifty breaks the 38600 level then our first target will be 38400 and the second target will be 38200 or 38000.
• We can see in the chart that both targets were hit.
• You can check here our today's targets.

BankNifty levels for tomorrow:

For Upside:

• If the BankNifty breaks the 38000 level then our first target will be 38200 and the second target will be 38400 and the third target will be 38600.
• Trade 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.
• 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 flat or small gap up and makes 15 min strong candle above the 38000 then our first target will be 38200 and the second target will be 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.