BANK NIFTY 13JAN LEVELS
Summary 12Jan BN Trade
1. Big Gap up and very frustrating day for intraday traders as the volume was missing options strike price saw very slow movement. Like everyone wanted to wait to see the IT big TCS, Infy and Wipro results
2. Market closed with a Doji on Daily chart. There is indecision in the market. Also today when Nifty was moving slowly up BN was slowly sliding down
3. FII data shows Fii selling and DII almost as much although DII slightly more than FII selling
4. The resistance level market on my yesterday chart BN reversed and took support at level given. I recommend please refer the levels lines and spot any price action there
Trade session plan for 13Jan
1, I will see todays 12jan trading levels as No trade zone and wait for breakout above 38850 and donwsie below 38600. If price gives a bearish breakout below 38600 then it is more likely to glose todays Gap up
2. After IT results tomorrow can be interesting day
3. Bank Nifty PCR is bearish
Tip of the day- when market opens with a huge gap up. Avoid entering trade as profit booking can happen. I also avoid trade when i see first 5 minute candle a big long doji like today on bank nifty
1. Big Gap up and very frustrating day for intraday traders as the volume was missing options strike price saw very slow movement. Like everyone wanted to wait to see the IT big TCS, Infy and Wipro results
2. Market closed with a Doji on Daily chart. There is indecision in the market. Also today when Nifty was moving slowly up BN was slowly sliding down
3. FII data shows Fii selling and DII almost as much although DII slightly more than FII selling
4. The resistance level market on my yesterday chart BN reversed and took support at level given. I recommend please refer the levels lines and spot any price action there
Trade session plan for 13Jan
1, I will see todays 12jan trading levels as No trade zone and wait for breakout above 38850 and donwsie below 38600. If price gives a bearish breakout below 38600 then it is more likely to glose todays Gap up
2. After IT results tomorrow can be interesting day
3. Bank Nifty PCR is bearish
Tip of the day- when market opens with a huge gap up. Avoid entering trade as profit booking can happen. I also avoid trade when i see first 5 minute candle a big long doji like today on bank nifty
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