bank nifty futures live 18 July 2023 : 300+ points rally captured

Bank Nifty Futures Live 18 July 2023 witnessed a significant surge, reaching a high of around 45,925, and began an ABC corrective wave pattern. During the intraday session, traders were quick to capitalize on the opportunity, capturing an impressive 300 points rally in the powerful wave C, resulting in substantial gains. However, as the market later traded on the sidelines, no fresh entry on the buy side was triggered. For those eager to explore the potency of Elliott Wave Theory combined with option analysis, a visit to the trade history is highly recommended , as this winning strategy has proven its effectiveness, offering traders valuable insights and potential profitable opportunities.

15.05PM : bank nifty futures live 18 July 2023 : 1 min chart NO fresh entry triggered.

wave 2 is currently in progress. Traders are closely monitoring the market, waiting for a pivotal moment – the breaking of the trendline on the upside. Once this occurs, it will serve as a strong confirmation for the arrival of the long-awaited powerful wave 3. Additionally, a buy signal will be triggered when the downward trendline is broken. At the moment, the level stands at 45,550. but since it is already 3 pm avoid fresh trades and just observe the market. As already minted 300 points rally in morning.

bnf 1 min at 3pm 18 july

14.05PM : bank nifty futures live 18 July 2023 : 1 min chart waiting for fresh entry

BankNifty Future appears to have completed its ABC move down at 45,362, followed by the initiation of a 5-wave impulse pattern. Currently, wave 1 has been accomplished, and wave 2 is currently in progress. if BankNifty Future manages to sustain levels above 45,600, it will trigger a compelling buy signal for the anticipated powerful wave 3 upward. Traders are keeping a close eye on these developments, ready to seize the potential gains that wave 3 may bring.

bnf 1 min 18 july

12.00PM : bank nifty futures live 18 July 2023 : made low 45408

bnf 18 july

bank nifty futures live 18 July 2023 :  surged near 45,925 and initiated an ABC corrective pattern. Traders patiently awaited wave B completion, and upon breaking the trendline, the confirmation prompted them to trigger a short position around 45,700-45,720. The subsequent wave C reached a low near 45,408, coming close to the targeted 1.618% Fibonacci retracement level, resulting in a quick gain of 300 points. This well-executed strategy exemplifies the art of navigating the financial markets with precision and seizing opportunities swiftly while understanding the risks involved.

11.35AM : bank nifty futures short triggered 45715

10.30AM: BankNifty Options Open Interest and PCR Analysis

  • BankNifty open interest (OI) analysis suggests:
    • Banknifty spot price :  45750
    • Call writers have high OI at 46000-45800 strike price important resistance level.
    • Put writers are creating support around the 45000 and 45500 strike price important support level.
  • The current put-call ratio (PCR) is approximately 1.47 (overbought)
  • The intraday point of control (POC) is near 45745, indicating significant trading activity at this level during the session.

Bank nifty Spot Price Forecast and EOD Analysis :

You may like to read :  “Bank Nifty Tomorrow Prediction: 5th Wave Impulse 18th July 2023”

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