BANK NIFTY ANALYSIS

Intraday Update 11.30 Am:
BN found support at 18100 levels and has reached the 200 DMA.

TRADE PLAN:

Book out Longs and short with EOD close above 18510 - 200 DMA. OR Trail SL to 18350 -50 DMA - Hour Close.

Pre market View:

Two Scenarios' in play:

Bullish - c.B ended at 18034 and a new wave has started.

Bearish : iii ended at 18034 and ongoing is iv. C.iv is pending and likely to resist at 18350 - 50 DMA and fall to form new lows below 17900

SL for Positional Longs trailed to yesterday Low Book out at 18310 - 350 spot.

Sell at 18350 spot levels - SL EOD close above 18350 - 50 DMA.

BANK NIFTY ANALYSIS

Pre market view:

Bank Nifty Has reached its crucial support of 18050. If supported intial resistances are -18150 crossing which next major resistance is 18350 -50 DMA.

 

Trade Plan :

Buy above 18100 SPOT / 18200 Futures SL EOD close below yesterday's low. Book out at 18350 -50 DMA.

BANK NIFTY ANALYSIS

INTRADAY UPDATE : 3.00PM:
The fall from 18500 - has reached upto 18100 - almost nearing the target of 18050 -a=c condition. The fall has been perfect within a channel in five waves.

BANK NIFTY ANALYSIS

Bank nifty for the 5th consecutive day has found resistance at 19050 and support at 18900-800. There are both Bullish and Bearish Prospects in contention - Typical of a B Wave. Yesterday EOD close was below 18900 - signalling weakness. But it is above the TA parameters such as 10 EMA,10DMA and 5 Low EMA.

Trade Plan:
Sell below 18900-18950 - Sl two hour close above 19050 - Day HEMA
Buy above 19050 day HEMA - SL two Hour close below 18900

BANK NIFTY ANALYSIS

BANK NIFTY IS AT MAKE OR BREAK level. The Previous range between 19000 - 19800 has shifted to 19100-18900.

BEARISH VIEW: Breakdown below 18900 - would take it down towards 18800-750.

BULLISH VIEW- A typical Inverse Head and shoulder pattern has formed with breakout above 19100 SPOT LEVELS.

TATAMOTORS ANALYSIS

Tatamotors has corrected approximately - 50% from its High of 602 - to  364.

A Huge Falling wedge is in formation with Positive divergences in 14 RSi and Slow MACD. The falling wedge would Breakout above 385 - and the initial target would be 420-425 - at which the wedge would become a Channel. Breakout above this level of 420 would be highly Bullish.

This level of 385-390 is the previous support - turned resistance. So, if resisted - would retreat fast towards - 360-355 and also If the resistance is taken out the target would be 420.

BANK NIFTY ANALYSIS

Intraday Update 2.00 PM

The Diamond pattern became a busted pattern and again today support well found at 18830 - SPOT levels.
19050 spot- knocking for the fourth consecutive day - CAUTION with SHORTS.

BANK NIFTY HARMONIC PATTERNS

BN is within a narrow range of 18800 - 19050 - and either way breakdown or breakout is all set to give huge moves.

Harmonic pattern Chart:

http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_d71772d252b5602a171ffd45d8bf6164.png

BULLISH VIEW:
An EOD close above 19050 - Day channel breakout - would lead BN towards 20000++ as per the ABCD Pattern in the above Chart

BEARISH VIEW:
RESISTING AT 19050 - would drag BN towards 18000 levels as shown in the Bullish Bat Pattern of the above chart .

TRADE PLAN:
Sl for shorts initiated is 19050 SPOT LEVELS. On breakout of 19050 - to be converted to positional longs with 18950 as Sl - which would be the cluster resistance turned support area.

BANK NIFTY ANALYSIS

UPDATE 12.00 NOON:
As mentioned in Premarket view - supported at 18800 SPOT and bounced back upto 19050 spot.

Bullishness on Hour Close above 19050. So strict STOPLOSS  for shorts @19050. 

Investing.com Charts: Possibility of a Bullish Bat Pattern in Contention holding 19050

http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_882a98106564dad2d39d9edfd6015fe7.png

BANK NIFTY ANALYSIS

Intraday UPDATE: 1.00 pm:

Reached Channel Resistance at 19000 spot- Corresponding to 80% retracement of 18174 - 19019 (present High). Breakout and EOD close above this will be Highly Bullish.

On resistance must watch the Fibo retracement along with the MOVING AVERAGES.

FIBONACCI RETRACEMENT FOR 18174 - 19019: 

38.20%	18696	20 DMA
44.70%	18641
50%	18596	10 DMA
61.80%	18496

TRADE PLAN: 

Book Longs as mentioned in Premarket view and Initiate Shorts with SL EOD close above 19050. On EOD close above 19050 - convert to POSITIONAL LONGS.

BANK NIFTY ANALYSIS

PRE-MARKET:

Bank Nifty has fallen upto 50% from the rise of 17174 - 19229. Holding 18200 EOD and breakout above 18350-400 will result in an upmove. If Resisted at 18400 - then again a fall towards 18200 - break of which would drag BN towards 17900-17800.

50 DMA is 18330 and 200 DMA is 18300 - a FAST RISE set up is prevailing - On an EOD close above 18300 - it will  come into play very effectively.

Trade Plan for today:
INTRADAY -
Buy above 18200 Sl 18150 Hour Close targets - 18350-400 spot values. If two Hour close above 18350 - then trail SL to 18350 CLOSE and hold the LONGS.

Sell below 18200 - SL Hour close above 18250 - targets 1800/17950/17800

BANK NIFTY ANALYSIS

1.30PM Update:

Owing to Global weakness - Banknifty has fallen from 18500 -18250 levels. 18300 is 200 DMA and 18330 is 50 DMA - A FAST RISE BETWEEN 50 DMA AND 200 DMA. An EOD close above 18300 would be an initial step for Bounce back.

The BEARISH WOLFEWAVE (24 JULY 2014) has reached its final target. The Bullish Gartley pattern is completed. 

http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_4c7145301c781882e2046bd9b88a60f3.png

Time to Exit shorts taken at 19000.

BANK NIFTY ANALYSIS

Intraday Update: 2.30 Pm:

The Three drive pattern is active now.. targetting 18600-550.

http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_18e51ad76b78a03ff231ea09a2cb019b.png

The Pattern is taking shape of a Bullish Gartley targetting 18600-550.

http://930e888ea91284a71b0e-62c980cafddf9881bf167fdfb702406c.r96.cf1.rackcdn.com/data/tvc_6e96f8b770d1ba8e17c2a5d945170284.png

18600-550 expected target is the channel Bottom of Day TF.

PRE MARKET VIEW:

BN resisted at 19000 and found support at 18850 -800 yesterday. Break of 18800 would lead to 18600.

the Bearish wolfe wave will be negated above 19000.

Trade Plan:

SL for the shorts initiated yesterday is trailed to 18950 - partbook at 18650-600 on breakdown.

BANK NIFTY ANALYSIS

Intraday Update: 12.15 PM:

Bank Nifty Spot has reached the support level of 18850 low today. If Supported, then a good bounce back is possible. If it breaks down then 18600 levels again.

PRE MARKET VIEW:
Yesterday Bank Nifty had a sharp recovery from the low of 18610 spot and 18660 futures levels. Currently both bullish and bearish possibilities prevail key level being 19000

Bearish View:

Resistance at 19050 -19100 spot levels would drag it down towards 18900 - 18850 -below which it would reach 18600 levels again - as per
1. the B wave scenario.
2. on Break of 18900  - it would fall back into the braodening wedge taking it to lower levels.