Nifty and Bank nifty analysis for tomorrow (13/01/2022)

 BANK NIFTY ANALYSIS CHART

OBSERVATION

• As we can see in one day chart, the bank nifty moving upside very potentially.
• If we see today's day candle, bank nifty made a Doji candle.
• Today 38600 levels act as support and 38850 act as resistance.

• As we can see in 15 min time frame market is consolidated between 38850 and 38600.
• If the market breaks the 38600 level then our first target will be 38380.
• If the market breaks the 38850 level then our first target will be 39200.
• If the market open gap-down between today's low and yesterday high then our first target will be close and small.
• then our second target will be 38390.

• In 1-hour time frame bank nifty formed ascending channel pattern.
• if it gives breakout on any side, we can see a good move on any side.

TRADE SETUP FOR TOMORROW 

• Don't trade at the beginning of the market, let it make price action.
• Avoid big gap-up and gap-down.
• All the levels will work as resistance and support in the chart, hope you will understand.
• trade with strict SL.

NIFTY50 CHART

OBSERVATION

• As we discussed yesterday, if the market holds the 18100 level, then it may go to our first target that is 18200.
• 18120 level acts as support and 18200 level act as resistance.
• If the market break the 18200 level then maybe we can see a good move in the upside.
• If could not sustain the 18200 level, then we can see a downward trend in nifty for intraday.
• All the levels act as resistance and support.
• If the market opens a big gap-up, then wait for price action.
• Don't jump into the trade at the beginning of the market.
• And if the market is open flat/sideways, then wait for the first 15 min candle, then trade according to the price action.
• Make strict SL.

OBSERVATION

• As we discussed yesterday, nifty formed ascending channel pattern in a 1-hour time frame.
• If it breakout on any side, it may give a very potential trade.
• If we see today's market analysis, nifty gave a breakout of 18000 level.
• If it sustains on that level then we can see a good move for upside.
• If it could not sustain then we can see a fall in nifty.
• So wait for a breakout.