Bank Nifty Intra Day Trade Strategy for 30/7/21
Bank Nifty Trade Setup for 30th July,2021 – Bank Nifty Closes At -34690
Daily time frame – support – 34350
resistance - 34950
5 min time frame - resistance at 34850 and support at 34585
Sentiment of the Market – sentiment is bullish
Intraday Action for Various Possibilities -
1) Opens Flat -
a) Goes Up- Buy CE only if it crosses 34770
b) Goes Down – Buy PE if it falls below 34585 with a big strong candle or if u want to play safe wait for it to fall below 34490
2) Opens with Gap Up -
a) But Below 34770 - Buy CE only if it crosses 34850
b) Above 34770
i) Its going up - Buy CE only if it crosses 34850
ii) Its going down -Wait for it to bounce back from 34770 and buy CE when crosses 34850
if it breaks 34770 - then no trade till 34585
and if it breaks 34585 with strong red candle then Buy PE below 34585 till 34490 and if it breaks 34490 then you can hold and wait to exit till 34350
3) Opens with Gap Down -
a) Above 34585 - Wait for it to bounce back from 34585 and buy CE trade above 34770 only.
If it breaks 34585 with strong red candle then buy PE at 34585 up to 34490
b) Below 34585-
Keeps on falling then Buy PE up to a fall of 34350, support present at 34490
These Levels are for Safe Playing Traders Only and during Live Trading you can always make profit from Scalp Trading between these levels as per market volatility and your own risk reward capacity
Daily time frame – support – 34350
resistance - 34950
5 min time frame - resistance at 34850 and support at 34585
Sentiment of the Market – sentiment is bullish
Intraday Action for Various Possibilities -
1) Opens Flat -
a) Goes Up- Buy CE only if it crosses 34770
b) Goes Down – Buy PE if it falls below 34585 with a big strong candle or if u want to play safe wait for it to fall below 34490
2) Opens with Gap Up -
a) But Below 34770 - Buy CE only if it crosses 34850
b) Above 34770
i) Its going up - Buy CE only if it crosses 34850
ii) Its going down -Wait for it to bounce back from 34770 and buy CE when crosses 34850
if it breaks 34770 - then no trade till 34585
and if it breaks 34585 with strong red candle then Buy PE below 34585 till 34490 and if it breaks 34490 then you can hold and wait to exit till 34350
3) Opens with Gap Down -
a) Above 34585 - Wait for it to bounce back from 34585 and buy CE trade above 34770 only.
If it breaks 34585 with strong red candle then buy PE at 34585 up to 34490
b) Below 34585-
Keeps on falling then Buy PE up to a fall of 34350, support present at 34490
These Levels are for Safe Playing Traders Only and during Live Trading you can always make profit from Scalp Trading between these levels as per market volatility and your own risk reward capacity
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