Trading Plan for Tomorrow: Banknifty, Nifty, Finnifty & Stocks
Today, Market index was running like a steady river, no big momentum definitely it had given one breakout But again in the end it has closed in the range. If we will talk about Fin Nifty If we will see throughout the day there was not a lot of opportunity to buy any option. Only small targets target was till minimum 100 with scalping.
This is more important in the trading Whenever there is such a sideways market Keep one point in mind Market wants to move 100 to 150 points Finnifty option and in BankNifty to 300 or 400 or 500 points. Then for the whole day it will go hundred up it will not spend time like this If it is spending time and coming in the same range that means it is a sideways market you should.
Trading Plan For Tomorrow: Bank Nifty
A very good price action pattern is formed in Bank nifty Over here there is a range correct over here it is formed I have taught one point again and again that selling is always fast Today also you have seen Selling is very fast In this case selling has been paused No doubt Sellers are trying to bring the market down But selling has become flat And over here a very good range has been created
We have to do selling only when When it opens gap down around 44,900 Let’s say near about 70 or 80 or hundred or 200 Somewhere around at this zone below 900 it opens gap down Then we can do a bit selling Then this pattern will be breakdown And we will plan it towards down So tomorrow we can sell only in one condition That too if it opens cap down from here That too if it opens gap down at 44,880 or 44,890 all these levels It opened 100 or 150 points gap down Then we will again plan for selling
If it is opening in this range then we will get an opportunity for buying, If it opens gap up then also we will get a buying opportunity And this is a very good area. If it opens gap up then tomorrow also there can be option buying That too in bank nifty if it breaks this you might be able to see if it is breaking the range Then the resistance is not seen anywhere It can go to 45,200 or 45,250 can go around.
Let the market open If it is opening around this range Or it is opening gap up In both the cases we will plan positive If 44,890 or 44,880 If it opens in this way Then we can plan for selling if it opens over here Then it will not sustain it will directly try To come 44,500 Then also we are seeing a good target So in one or two days we can get 200 to 250 points good momentum Because the way in which the plan out is being done for a good momentum We can plan If it opens at this range we will plan to buy.
Lets, it opens gap up then also we will wait But we will keep the quantity a bit less If around 45,100 it is making any positive candle Then only we will buy it If it opens gap down Around this range Then we will wait for 5 minutes If after five minutes it is giving a breakdown Or a price action is being formed Then we can plan this for selling I hope you are able to understand this point. Don’t enter in this big candle What will happen due to that You will not get the place to keep stop loss.
Trading Plan For Tomorrow: Nifty
If we will see nifty, it was a bit negative was also moving a bit dicey Now if we will see Over here a trading position is not able to be formed In this position we will plan for buying above 19,625.
We can make a position for selling If we get something around 19,530 Then we can sell Tomorrow I’m not interested for buying The way in which it is going it is possible that it might break out a trend line over here But around 625 there is going to be a resistance So what we can plan We will wait if around 625 it is making a price action And it is giving a break out then we will plan Otherwise bank nifty is at a very good level we can plan it So tomorrow if it opens flat or if it opens gap up
Nifty and Bank nifty both are looking positive If it opens gap down Then some negative scenario can be formed Otherwise in both the cases market can go slow and steady towards up Bank nifty can move a bit quickly Compared to nifty And nifty is at a very good place Over here there is a trend line and towards down that is going flat So it is possible that after this range only it might break out and do a momentum But nifty is having some resistance Over here there is a resistance and there is a gap fill resistance
Bank nifty has made a good pattern So we can focus a bit on that In this case over here there is a pattern The banknifty is trading in a very small range We can plan for breakout Until and unless it does not open gap down.
Trading Plan for Tomorrow: Stocks
First stock is Bajaj Finance It is at a very picture perfect area if you will see Over here there used to be support Exactly at this area it has made a similar body for three to four days It is such a big stock and if it is trading in a similar small range Then it can give a big move It can give either side So the way in which it has given closing We will plan a bit for reversal It is possible that we might plan a trend reversal from here.
Next stock is Indigo if we will see there was a breakdown and from three days it was going towards up So all those who might have done selling over here It will try to close above that So it is looking at a good level We can plan this around 2565 Stop loss should be of 7 to ₹8 Our minimum target will be 1:2 . Very Suitable Stock for Option trading as it formed a piercing pattern, just observe and Buy Call options of 2600 price.
Next stock is coal India if we will see Over here exactly where it has filled the gap Gap acts as a support resistance It created resistance over here Then after that it is coming towards down Then it will try to give closing below 227 We can plan at 228 or 229 all these levels To sell this Stop loss should be of one to ₹2 Over minimum target will be 1:2 .
Next stock is Adani Enterprise , it opens gap up then we will ignore this A selling pressure is seen it has given close below three to four candles So somewhere the selling can happen and is that we should follow through it. If we follow through then we can get a very good profit From 2470 to 2475, we can plan this Stop loss should be of 8 to ₹10 Our minimum target will be 1:2 I hope you are able to understand all these points.