NIFTY & BANK NIFTY trading setup: Key levels for expiry day | Stock market analysis | NIFTY expiry
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Welcome to our latest market analysis where we delve deep into the NIFTY and BANK NIFTY trading setup for today! In this video, we explore the key movements, trends, and signals that can help traders navigate the market during the NIFTY expiry and BANK NIFTY's trading day.
Today, we observed NIFTY starting with a gap-up, sustaining its opening gains, and trading within a narrow range throughout the day. Thanks to positive global cues and broad-based buying, the index managed to recapture the crucial 24,000 level. But what does this mean for the trading setup ahead? We break down the daily chart patterns, highlighting the formation of a Doji candle within an inside bar pattern, which could indicate significant directional moves soon. Learn how to monitor the highs and lows of these setups to plan your trades effectively.
On the 15-minute chart, NIFTY is currently trading within the 23,900 to 24,350 range. We discuss various scenarios, including how to respond to a gap-up open and what to look for in the initial price action. Whether NIFTY sustains this range or breaks out of it will be key for traders looking to capitalize on the next big move.
Moving to BANK NIFTY, despite some initial weakness, the index traded within a range throughout the day, with notable buying observed across the banking sector, except for a few like IndusInd and AU Bank. We analyze BANK NIFTY's daily chart, particularly the formation of an inside candle after three consecutive days of sell-off. Should you wait and watch, or is it time to act? Find out how the index's reaction to its 50 DMA could set the tone for upcoming sessions.
We also discuss the open interest data for both NIFTY and BANK NIFTY, highlighting key levels where significant call and put options are placed, giving you insight into potential resistance and support zones.
Finally, we round up the stocks that are trending based on long build-up, short build-up, and volume spikes. Get insights into PI Industries, Coal India, ABB, Balrampur Chini, IEX, IndusInd Bank, Shree Cements, Bata India, Oil India, ONGC, Zomato, Cummins India, and Coal India. Whether you're a day trader or a long-term investor, understanding these setups can give you the edge in today's market.
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