Bank Nifty Predictions for 13 Sep 2024

12 set

Support and Resistance for !3 Sep 2024, Trading Day

Immediate Support: 51,010 (based on recent price pullbacks visible on the 5-minute chart).
Immediate Resistance: 51,900–52,000 (tested towards the end of the session and aligned with previous swing highs from the daily chart).

Trading Day Scenario (13th September 2024)
Opening: The market is likely to open slightly gap up based on the strong close today.
Market Trend: After a gap-up opening, it could continue to be bullish initially, but likely to face resistance near the 51,900–52,000 levels.

Timing and Condition:
Time Market Condition Strategy
9:15 AM Slight gap up Wait for retracement near 51,700, then buy Calls
11:00 AM Bullish uptrend Ride the trend; trail stop loss
1:00 PM Range-bound Avoid buying; wait for clear breakout
2:30 PM Possible breakout Re-enter long positions near support if holding

Strategy for Next Trading Day (13th September 2024)
Strike Price: For Calls, consider 52,000 CE if the price remains above 51,700 in the early session.
Strategy: Based on the expected gap-up and bullish continuation, initiate Call Buying on retracements.
Key Points:
o Enter after confirming support holds around 51,700.
o Use a trailing stop-loss method to protect gains.
o Avoid holding during the late session if the market goes range-bound.

Disclaimer : Manager your own Risk and money managements. Do not work without STOP LOSS.