Do you want to trade Nifty Share Price and Banknifty Share Price like Smart Money does? Then you are at the right place because I’m going to show the best way to analyse trade volatile markets like Nifty and Banknifty plus a few extra’s.
But before that lets go through the standard disclaimer – Derivatives Trading involves substantial risk of loss therefore is not suitable for all investors. Past Performance is not necessarily indicative future results. All information shared here is for educational purpose only. – Read Full Disclaimer
How Nifty and Banknifty traded today?
Slack Update 1
Nifty opened above YH. The opening was strong. An attempt to move back into YR got exhausted forming a PL.
Banknifty opened at YVAH and drove out of YR. The opening was Open Drive type. It also took out 2 day high in early trade.
Slack Update 2
Both the indices formed inside bars showing exhaustion. This exhaustion by buyers led to prices falling down and testing BO level. Nifty broke below the BO level.
Slack Update 3
Nifty found acceptance below the BO level, which opened up test of lower levels. Repaired the PL from morning.
Banknifty instead balanced just above BO level. This looked more like absorption of demand at BO level.
Both the indices closed near the lows. So sellers seem to be in control of the auction. We are currently in a big range and the following Nifty chart shows it clearly.
How to trade Nifty and Banknifty tomorrow?
Both the indices have fallen on account of exhaustion. Banknifty even has a PH. So this looks like a potential inventory adjustment break. We are trading in a wide range and may test the other end of the range.
[cta id=”5146″ vid=”0″]