BANK NIFTY 18JAN LEVELS
Summary of BN 17Jan Trade
FII sold both equity -855 cr and futures -827 and even DII sold -115 cr
1. Exactly BN levels worked as shared on sunday study. Please refer to the previous chart shared sunday and please do leave a comment here if you agree that levels played. BN Support took support at 38200 and went like a rocket up to 38600 the Resistance level already shared. If you had punched the order as per chart levels /price action you had a trade on both call and put side with big profits.
2. BN saw huge volatility in the first 45 minutes and then went into range till noon for a bearish breakout. HDFC number came good but BN ended bearish
3. BN has rejected 38600 and 38400 even 38300. I see weakness in BN
4. Interestingly Nifty was climbing.
Plan for BN 18Jan
1. Let me give you support and resistance levelsSupport - 38000Resistance 1- 38300 Resistance 2- 38500 huge CALL writing means this level will see rejectionTrade only when BN comes to these levels upside or downside
2. I will look for CE buy at 38000 levels where there is huge put writing to act as support level but will wait for two 15minute candle confirmations for bullish reversalIf 38000 breaks then BN next support is 37963-37939 and can fall further down to 37500 levelson the upside will look for buy CE opportunity only if it breaks 38500 but small move
FII sold both equity -855 cr and futures -827 and even DII sold -115 cr
1. Exactly BN levels worked as shared on sunday study. Please refer to the previous chart shared sunday and please do leave a comment here if you agree that levels played. BN Support took support at 38200 and went like a rocket up to 38600 the Resistance level already shared. If you had punched the order as per chart levels /price action you had a trade on both call and put side with big profits.
2. BN saw huge volatility in the first 45 minutes and then went into range till noon for a bearish breakout. HDFC number came good but BN ended bearish
3. BN has rejected 38600 and 38400 even 38300. I see weakness in BN
4. Interestingly Nifty was climbing.
Plan for BN 18Jan
1. Let me give you support and resistance levelsSupport - 38000Resistance 1- 38300 Resistance 2- 38500 huge CALL writing means this level will see rejectionTrade only when BN comes to these levels upside or downside
2. I will look for CE buy at 38000 levels where there is huge put writing to act as support level but will wait for two 15minute candle confirmations for bullish reversalIf 38000 breaks then BN next support is 37963-37939 and can fall further down to 37500 levelson the upside will look for buy CE opportunity only if it breaks 38500 but small move
Feragatname
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