Bank nifty futures live 19 July 2023 : A Day of Narrow Trading

15.30 PM : Bank Nifty Futures: A Day of Narrow Trading and met our targets.

The Bank nifty futures live 19 July 2023 traded within an extremely narrow range of 45500 to 45700, making it a day where option writers profited from the premium. The 45700 level acted as a significant hurdle, being the golden fib 61.8% level, which is typically respected by the market. Our outlook for the day was bullish, and the market did initially move up with a gap-up opening. However, the sideways trading persisted, leading to hitting our stoploss once. Nevertheless, on the second attempt, it successfully reached both our target 1 and target 2 by making intraday high of 45749. The market moved as anticipated, albeit slightly slower than expected.

bnf 19 july 2023 15.30pm

15.25PM : Bank nifty futures live 19 July 2023 made high 45749.

Elliott Wave analysis empowers traders with a fearless approach, acting as the GPS of the market, effectively managing the risk-reward ratio. You may like to see Trade History based on wave analysis and option chain analysis.

bnf 19 july 2023 3pm

13.05 PM : bank nifty futures again retest near 45700

Bank Nifty’s future is presently in its final wave, caught within an exceptionally tight trading range. Sideways markets with such narrow ranges carry a higher risk of hitting stop-loss levels. Initially, our expectation was for an upward movement, leading us to re-enter the trade upon a channel breakout, successfully meeting our first target. During the last wave, traders must exercise extra caution when booking profits. Implementing a trailing stop-loss after partial profit booking can be a prudent approach.

bnf 13 pm 19 july

12.10 PM : bank nifty futures live 19 July 2023 –

A fresh buying opportunity will arise once the banknifty future breaks out of channel above 45610, as it is currently confined within a narrow range of 45500 to 45700.

bnf 3 min 19 july

10.30 AM : bank nifty futures live 19 July 2023 – made high 45700

banknifty future buy 19 july 2023

9.55 AM : bank nifty futures live 19 July 2023 – buy entry triggered at 45620–625 with SL OF 45500

9.50 AM : bank nifty futures live 19 July 2023 – 1 min chart with wave count

We are patiently waiting for buy entry to trigger with bullish candle confirmation either on breaking of trendline or  near retest of channel.

Banknifty future 1 min 19 july 2023

Bank Nifty Spot Price Forecast and End-of-Day (EOD) Analysis:

For your convenience, we invite you to peruse our comprehensive article entitled “Bank Nifty’s All-Time High : Is the Bullish Trend Matured? “  Within this piece, we conduct a detailed analysis of the Bank Nifty’s Elliott Wave patterns, spanning from higher time frames to lower time frames. The Elliott Wave theory serves as a reliable guide in navigating the market, offering crucial signals to traders, indicating when a cautious approach is prudent.

Risk Management and Disclaimer:

Financial markets are inherently uncertain and offer no guarantees. It is crucial to practice effective risk management by setting appropriate stop-loss levels and adjusting your position size according to your risk tolerance and chosen trading strategy. The information provided here is for educational purposes only and should not be construed as financial advice. Remember that trading involves inherent risks, and past performance does not guarantee future results. Prior to making any investments, conduct thorough research and consider seeking guidance from qualified professionals. We highly value your thoughts and feedback, so please feel free to share them below.

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