23rd Jan 23 (Monday): Expected bank nifty trend for the coming Monday session.
|Symbol||Bank Nifty||Bank Nifty|
|Time Frame||1 hr||15 mins|
|Expected Trend||In range||In range|
21th Jan: Lets try to look at the major trend of bank nifty in coming days. In 4 hours time frame we can see the market tried to break the 50 ema and is appearing to be failed in the last trading session.
17th Jan (Tuesday, 23): We can see market has formed W pattern here and then has started going down again. Expected to go down till 41500 level. (All the insights shared here are on the basis our data analysis and is for education purpose only, please manage your risk wisely before entering into any trade)
13th Jan (Friday, 23): Market failed to break the support on expiry. We can expect this happening on Friday. Sharp fall expected this week. My guess is it will touch 40000 level with sharp crash.
12th Jan (Thursday, 23): Weekly Expiry – expecting the support at 41880 to break today.
11th Jan (Wednesday, 23): The bank nifty has shown reversal from the support of 42000 level again, we can expect the bullish move again on Wednesday or a gap up with test up to the level 42800 levels and then the fall continuation either tomorrow or day after.
10th Jan (Tuesday, 23): Since the level 42908 is already tested in 5 mins time frame and has got rejection we can expect market to go down from this level. Same can be seen in 15 mins time frame. The level 42052 is the support level which rejected two time before and we can assume this level has now got weak and have higher chances for breaking this time.
9th Jan (Monday, 23): Bank nifty is expected to reverse from Friday level and can go back testing 43063 level when analyzed in 5 mins time frame. It can even go up and test the 43700 level again, probability of this low but with global sentiment going positive at the end of last week, we should keep eye on these to levels before getting bearish about the market again.
Week 2 – Jan 2023 Setup:
Banknifty is expected to test the 43200 level again before continuing its down side rally.