Bank Nifty Trading Plan for 09-Dec-2024 Previous Day's Chart Pattern: On 08-Dec-2024, Bank Nifty exhibited a consolidation pattern and forming a No Trade Zone , with price movement oscillating between 53,487 and 53,699. Buyers displayed confidence at the golden retracement zone but faced resistance near 54,258. The yellow zone marked a sideways trend, while green indicated bullish attempts that were capped by red bearish resistance levels. This sets the stage for multiple potential scenarios tomorrow. Trading Plan for 09-Dec-2024: Gap-Up Opening (+200 points or more above 53,699): If Bank Nifty opens above 53,699 and sustains, the index is likely to test the first resistance at 54,258 . Watch for price action at this level: If it breaks above 54,258, the next target will be 54,479 (potential new all-time high resistance). Consider initiating long positions near 54,258 with a stop loss just below 54,185. However, if rejection occurs at 54,258, expect a pullback toward 53,699 . In this case, avoid aggressive longs and wait for confirmation before re-entering trades. Risk Management Tip: For options buyers, focus on ATM or slightly OTM contracts with small quantities. If price approaches resistance zones, consider booking partial profits. Flat Opening (Within the No Trade Zone 53,487–53,699): In the case of a flat open, patience is key: If price sustains above 53,699 , this will indicate bullish intent, targeting 54,258 . Go long after a clear breakout with stop loss near 53,487. Conversely, if the index drops below 53,487, it may retest the key support zone at 53,017 . Initiate short trades cautiously with tight stop loss above 53,487. Risk Management Tip: Avoid over-leveraging in a choppy zone. Wait for the first 30 minutes to gauge market sentiment. Gap-Down Opening (-200 points or more below 53,487): If Bank Nifty gaps down below 53,487: Initial support lies at 53,017 . If this zone holds, we may see a reversal toward the No Trade Zone. Watch for bullish candlestick patterns to confirm a rebound. If 53,017 breaks, the next key level is 52,715 (deep retracement and must-try support for buyers). Consider shorts below 53,017 with a target near 52,715, keeping a stop loss at 53,200. Risk Management Tip: For bearish scenarios, buy puts cautiously. Avoid illiquid contracts and use spreads to limit risk. Summary and Conclusion: The market remains at a pivotal zone, with clear levels to monitor for breakouts or breakdowns. Yellow zones highlight areas of consolidation, green zones indicate bullish trends, and red zones point to bearish resistance. Adhere strictly to the No Trade Zone boundaries to avoid unnecessary risks. Disclaimer: This analysis is for educational purposes only. I am not a SEBI-registered analyst. Traders are advised to do their own research or consult a financial advisor before trading.
#HARD The price is moving in a descending channel on the 1-hour frame and sticking to it well We have a bounce from the lower limit of the descending channel, this support is at 0.1880 We have a downtrend on the RSI indicator that is about to be broken, which supports the rise We have a trend to stabilize above the moving average 100 Entry price 0.1960 First target 0.2017 Second target 0.2072 Third target 0.2132
Hello, dear friends! It’s Kateryna here with You again! I'm so happy to reconnect with You all! It’s amazing to see the market coming back to life after years of stagnation.?? I hope You're doing well and riding the waves of price action like pros, haha!? I’m also trying to keep up, despite a tough autumn and winter in my country.? Honestly, trading without this platform and the incredible community here feels dull and uninspiring. I truly miss the energy of the last bull run when I found so many like-minded people and made friends I’m still in touch with today!? Let’s keep sharing ideas and supporting each other—it’s such a fantastic feeling to be part of this community!? Now, about Bitcoin’s short-term price action: I see a potential price drop to the support levels of 96,500–95,500. It’ll be crucial to closely watch how the price develops in the following days. At the same time, we shouldn’t rule out the scenario where Bitcoin breaks through the short-term descending resistance line, giving it a chance to climb higher within the channel. On the chart, You’ll notice what I mean if You look at the comparison of previous price movements (marked with pink and blue dots). What do You think, dear friends?? What’s Your outlook for Bitcoin in the near future? I’d love to hear Your thoughts—share Your comments or post Your charts!? Yours always, Kateryna??
Given the resistance at the level of 1.2817, if this area is broken, we can expect the price to continue rising towards 1.2935. Otherwise, if the support level at 1.2717 is broken, a further decline towards the level of 1.2614 is anticipated.
Hard Currency or Digital Currency? Recently, I attended several investment presentations and events where attendees discussed the future role of cryptocurrencies in investment portfolios and the market outlook—especially following Bitcoin's historic surge to $100,000. Personally, I view cryptocurrencies not in absolute terms but relative to gold prices. This chart offers some insights to spark further thought.
this is for my practice only. I will be watching this pair carefully and see how it will move
Considering the resistance at the level of 151.120, after breaking through this area, we can expect a rise to the level of 153.399. Otherwise, if the support level of 148.534 is broken, it can be anticipated that the decline will continue down to the level of 146.030.
Hope this can help you guys add on to your own analysis. Remember this is not Investment advice just insights into my own perspective of this company's future price direction. Remember follow the big money to make big money. peace and love!
The market is currently at balance, with no buyers/sellers in total control. As the analysis show, price bounced on our Major low and created a Head n Shoulders pattern, which was broken and price retested our Neckline.....possible scenario is that the price might bounce on the neckline and a breakout on the Major high will occur, meaning buyers will take over and we should look for buying
keep eye on this ,it will easily pump 16-17% after breakout