Bank Nifty Intra Day Trade Strategy for 26/7/21

23 Tem 2021

Bank Nifty Trade Setup for 26th July, 2021 – Bank Nifty Closes At - 35034
Daily time frame – support – 34400
resistance - 35350

Upward trendline support - happens to be at 35000

5 min time frame - resistance at 35200 and support at 34900

Sentiment of the Market – sentiment is bullish

Intraday Action for Various Possibilities -
1) Opens Flat -
a) Goes Up- Buy CE only if it crosses 35100
b) Goes Down – Buy PE if it falls below 34700

2) Opens with Gap Up -
a) But Below 35100 - Buy CE only if it crosses 35200
b) Above 35100
i) Its going up - Buy CE only if it crosses 35200
ii) Its going down -Wait for it to bounce back from 35100 and buy CE when crosses 35200
if it breaks 34900 - then no trade till 34700
and if it breaks 34700 then Buy PE below 34700 till 34400 and beyond.

3) Opens with Gap Down -
a) Above 34900 - Wait for it to bounce back from 34900 and buy CE trade above 35100 only
b) Below 34900-
Keeps on falling then Buy PE up to a fall of 34400, support present at 34700

These Levels are for Safe Playing Traders Only and during Live Trading you can always make profit from Scalp Trading between these levels