What will happen tomorrow in Nifty and Bank Nifty?

 

NIFTY CHART

OBSERVATION

• As we discussed yesterday if Nifty breaks the level of 18060 then our first target will be 18000 and the second target will be 17950.
• As we can see in the Nifty chart, our both targets were hit.
• You can see my today's levels here which I gave yesterday.

Now let's talk about today's market:

• As we can see in the chart, we saw a good selloff after breaking the ascending channel pattern.
• We can see in the chart, our both targets were hit in the first half.
• Then Nifty took support from our second target which is 17950.
• And in the second half, we saw a good selloff also.
• But in the last hour, Nifty took resistance from our second target which is 17950.
• If the Nifty breaks today's low, then maybe we can see a good sell for tomorrow.

Nifty levels for tomorrow:

• If Nifty opens in flat or small gap-down and breaks today's low i.e 17880 then our first target will be 17788 on the downside.
• And the second target will be 17700 on the downside.
• If Nifty opens in flat or small gap-up and breaks the range 17950-17965 with 15 min strong candle then our first target will be 18000 on the upside and the second target will be 18060.

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 below the small gap, we will see a selloff in the first half.
• If the market breaks today's low i.e. 17880 with a strong 15-minute candle then our target will be 17788.
• And if the market opens flat or small gap-up then our first target will be 18000 and second will be 18060.
• Trade with strict SL.

As we can see in the one-hour time frame, Nifty breaks the ascending channel pattern.

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.

BANK NIFTY CHART

OBSERVATION

• As we discussed yesterday if Bank Nifty breaks the level of 38000 then our first target will be 37830 and the second target will be 37600 or 37480
• As we can see in the Bank Nifty chart, our first target was hit. 
• Bank Nifty break the first target and did not give a breakout, so our second target was not hit.
• You can see my today's levels here which I gave yesterday.

Now let's talk about today's market:

• We can see in the chart. In the first half, Bank Nifty tried to give a breakout below the level of 38000 but could not give a strong breakout.
• In the second half, it gave a  breakout below the level of 38000 and hit our first target i.e 37830.
• Now we can see Bank Nifty close above the level of 38000.
• This means that the major support of Bank Nifty is 38000.

Bank Nifty levels for tomorrow:

• If Bank Nifty opens in flat or small gap-down and breaks 38000 level with a strong candle then our first target will be 37830 on the downside.
• And the second target will be 37600 or 37480 on the downside.
• If Bank Nifty opens in flat or small gap-up and breaks 38200 level with 15 min strong candle then our first target will be 38400 on the upside and the second target will be 38600.

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 a flat or small gap-down, we will see a selloff in the first half.
• If the market breaks the key support which is 38000 then our target will be 37830.
• And if the market opens flat or small gap up and breaks 38200 level then our first target will be 38400 and second 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.