Bank Nifty Intra Day Trade Strategy for 28/7/21
Bank Nifty Trade Setup for 28th July, 2021– Bank Nifty Closes At - 34800
Daily time frame – support – 34150
resistance - 35350
5 min time frame - resistance at 35200 and support at 34650
Sentiment of the Market – sentiment is bullish
Intraday Action for Various Possibilities -
1) Opens Flat -
a) Goes Up- Buy CE only if it crosses 34950
b) Goes Down – Buy PE if it falls below 34400
2) Opens with Gap Up -
a) But Below 34950 - Buy CE only if it crosses 35200
b) Above 34950
i) Its going up - Buy CE only if it crosses 35200
ii) Its going down -Wait for it to bounce back from 34950 and buy CE when crosses 35200
if it breaks 34650 - then no trade till 34400
and if it breaks 34400 then Buy PE below 34400 till 34150 and beyond.
3) Opens with Gap Down -
a) Above 34650 - Wait for it to bounce back from 34650 and buy CE trade above 34950 only
b) Below 34650-
Keeps on falling then Buy PE up to a fall of 34150, support present at 34400
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 – 34150
resistance - 35350
5 min time frame - resistance at 35200 and support at 34650
Sentiment of the Market – sentiment is bullish
Intraday Action for Various Possibilities -
1) Opens Flat -
a) Goes Up- Buy CE only if it crosses 34950
b) Goes Down – Buy PE if it falls below 34400
2) Opens with Gap Up -
a) But Below 34950 - Buy CE only if it crosses 35200
b) Above 34950
i) Its going up - Buy CE only if it crosses 35200
ii) Its going down -Wait for it to bounce back from 34950 and buy CE when crosses 35200
if it breaks 34650 - then no trade till 34400
and if it breaks 34400 then Buy PE below 34400 till 34150 and beyond.
3) Opens with Gap Down -
a) Above 34650 - Wait for it to bounce back from 34650 and buy CE trade above 34950 only
b) Below 34650-
Keeps on falling then Buy PE up to a fall of 34150, support present at 34400
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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