Bank Nifty Intra Day Trade Strategy for 23/7/21
Bank Nifty Trade Setup for 23RD July, 2021– Bank Nifty Closes At - 34677
Daily time frame – support – 34350
resistance - 35450
5 min time frame - resistance at 35000 and support at 34550
Sentiment of the Market – sentiment is bullish
Intraday Action for Various Possibilities -
1) Opens Flat -
a) Goes Up- Buy CE only if it crosses 34750
b) Goes Down – Buy PE if it falls below 34450
2) Opens with Gap Up -
a) But Below 34750 - Buy CE only if it crosses 35000
b) Above 34750
i) Its going up - Buy CE only if it crosses 35000
ii) Its going down -Wait for it to bounce back from 34750 and buy CE when crosses 35000
if it breaks 34550 - then no trade till 34450
and if it breaks 34450 then Buy PE below 34450 till 34350 and beyond.
3) Opens with Gap Down -
a) Above 34550 - Wait for it to bounce back from 34550 and buy CE trade above 34750 only
b) Below 34550-
Keeps on falling then Buy PE up to a fall of 34350, support present at 34450
These Levels are for Safe Playing Traders Only and during Live Trading you can always make profit from Scalp Trading between these levels
Daily time frame – support – 34350
resistance - 35450
5 min time frame - resistance at 35000 and support at 34550
Sentiment of the Market – sentiment is bullish
Intraday Action for Various Possibilities -
1) Opens Flat -
a) Goes Up- Buy CE only if it crosses 34750
b) Goes Down – Buy PE if it falls below 34450
2) Opens with Gap Up -
a) But Below 34750 - Buy CE only if it crosses 35000
b) Above 34750
i) Its going up - Buy CE only if it crosses 35000
ii) Its going down -Wait for it to bounce back from 34750 and buy CE when crosses 35000
if it breaks 34550 - then no trade till 34450
and if it breaks 34450 then Buy PE below 34450 till 34350 and beyond.
3) Opens with Gap Down -
a) Above 34550 - Wait for it to bounce back from 34550 and buy CE trade above 34750 only
b) Below 34550-
Keeps on falling then Buy PE up to a fall of 34350, support present at 34450
These Levels are for Safe Playing Traders Only and during Live Trading you can always make profit from Scalp Trading between these levels
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