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NIFTY
BANK NIFTY

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BNF 06th May

In our previous analysis, we had anticipated that sustained downward momentum below 49100 could potentially lead to testing of the 48650 levels. As observed on the last trading day, BNF indeed reached a low of 48660 before experiencing a sharp bounce and closing at 48875 levels. The market displayed its characteristic drama, opening around 200 points above the previous day's close and swiftly climbing upwards, surpassing psychological barriers like 49500 and clearing the AB poor high from May 2nd. However, this upward momentum was short-lived, as BNF faced rejection shortly after crossing 49600, leading to a sharp sell-off characterized by an OTF down move, poor structure, and triple distribution. Following this, significant volume at the lower end of distribution led to the development of VPOC and PPOC near 48850 levels, accompanied by a downward shift in the value area.

The development of a 'b' shaped profile suggests long liquidation rather than fresh selling. As Jim Dalton famously said, "Markets need to break before a rally," indicating the necessity of monitoring for continued downward movement before considering a short position. Notably, 48600 serves as the VAH (Value Area High) for the week of April 22nd - 29th, providing potentially strong support. However, an open below 48600 and sustained movement below 48500 could lead to the exploration of daily value areas from April 25th and 26th, with support levels around 48250 and 48000.

On the upside, any open and sustained movement above 48800 would encounter initial resistance at 49200, followed by 49500 levels. The reaction of the market to Kotak Bank's results may influence the opening moves, so it will be important to monitor this aspect closely.

bn both channels working

Good came back bro❤️

Keep tight your sl not good sign

Vix 15% + more thrill to come
Full up and down .it's will test your patience and sl

Trend since Noon: Wait for Price to come to 20 EMA and short!
Be careful now

Story since Noon. But time to be careful! Short in the hole waale phans jayenge agar Short covering aa gayi