Bank nifty futures 27 July 2023 Live

Bank nifty futures 27 July 2023 Live there was confusion as a freak high occurred, but the corresponding Bank Nifty spot did not show the same movement. In morning waited for short near 46,500, but the futures price did not go above 46,200, and the risk was deemed too high with a stop loss of 300 points. Then waited for the completion of the downward impulse wave to find a support zone 45800-45650 for buying, but even that plan got hit. The monthly expiry appeared to be experiencing a pump and dump move. Once the downward impulse wave completes its 1-2-3-4-5 sequence,  anticipate a bounce towards 45,900-46,000 levels. wave 5 target as wave1 = wave 5 come near 45566 which got completed today as banknifty future made low 45552. As intraday trading time is ending, it’s advisable to avoid fresh trades and closely observe the market.

13.50PM : Bank nifty future – Buy triggered

Bank nifty futures 27 July 2023 Live support zone as discuss previously 45,650 to 45,800.… buy near 45720-45750 with SL OF 45620

13.10PM : Bank nifty future – Buy triggered

Bank nifty futures 27 July 2023 Live triggered buy near support zone as discuss previously… buy near 45800-45820 with SL OF 45700

12.25PM : Bank nifty future impulse wave down

BankNifty future recently completed an ABC wave, reaching a high of 46,500, and is now moving downwards in what appears to be an impulse wave (1-2-3-4-5). As this impulse wave approaches completion, it’s crucial to closely watch the important support zone between 45,650 to 45,800. 

10:30AM :  Banknifty future freak high 46500

Today, the BankNifty future reached a high above 46,200 and experienced a freak high in the morning, reaching 46,500. we believe that the BankNifty will attempt to revisit this high once again. This is because there might be a disequilibrium created in the demand and supply dynamics, and the price is expected to move towards the freak high level in an effort to restore balance.

10:25AM :  Banknifty future met target of inverse head and shoulder

Yesterday, we observed the formation of an inverse head and shoulders pattern in banknifty future , which is a bullish pattern. This pattern was supported by the 38% Fibonacci retracement level at 45,920. Today, the BankNifty future reached a high above 46,200 and experienced a freak high in the morning, reaching 46,500. This means that the target for the inverse head and shoulders pattern was met.

banknifty future 27 july 2023

Risk Management:

Implementing effective risk management strategies is crucial in navigating the financial markets, especially during critical phases like Bank Nifty’s all-time high. Proper stop-loss orders, diversification, and disciplined trading can safeguard investments and improve long-term success.

Disclaimer:

The information in this article is for general informational purposes only and not financial advice. Trading involves risks, and past performance is not indicative of future results. Readers should conduct their research and seek professional advice before making financial decisions. Trade responsibly.

Happy Trading !

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