Daily BankNifty Setups

Hi Darpan, would you classify the first sell climax on 2025-01-17 as a sell vacuum test of an area of support? On 60m, I see support at 23100 (gap from 2025-01-14) and this sell CX filled the gap and tested the H of the bar. Also, there is a MM magnet from the opening BR BO. 

One could also see this as a BR BO that ends the trend/BR Leg in a TR on 60m chart - the sell-off is accelerating and seems unsustainable. Or, was the assessment based solely on 5-min chart?

Postado por: skaramoosh

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Hi Darpan, would you classify the first sell climax on 2025-01-17 as a sell vacuum test of an area of support? On 60m, I see support at 23100 (gap from 2025-01-14) and this sell CX filled the gap and tested the H of the bar. Also, there is a MM magnet from the opening BR BO. 

One could also see this as a BR BO that ends the trend/BR Leg in a TR on 60m chart - the sell-off is accelerating and seems unsustainable. Or, was the assessment based solely on 5-min chart?

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Yes, my assessment was based on price action as per 5min TF only and there were other reasons. But yes, it is reasonable to see the 17.01.25 sell climax as sell vacuum test of 14.01 gap. Also nifty on 60min was in a TR and that down move was more likely to be 2nd leg bear trap rather than bear BO of TR. You can also draw a parallel line from the two pushes up and see how nifty reacted around the trend line. 

Postado por: Darpan

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Postado por: skaramoosh

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Hi Darpan, would you classify the first sell climax on 2025-01-17 as a sell vacuum test of an area of support? On 60m, I see support at 23100 (gap from 2025-01-14) and this sell CX filled the gap and tested the H of the bar. Also, there is a MM magnet from the opening BR BO. 

One could also see this as a BR BO that ends the trend/BR Leg in a TR on 60m chart - the sell-off is accelerating and seems unsustainable. Or, was the assessment based solely on 5-min chart?

-- attachment is not available --

 

 

Yes, my assessment was based on price action as per 5min TF only and there were other reasons. But yes, it is reasonable to see the 17.01.25 sell climax as sell vacuum test of 14.01 gap. Also nifty on 60min was in a TR and that down move was more likely to be 2nd leg bear trap rather than bear BO of TR. You can also draw a parallel line from the two pushes up and see how nifty reacted around the trend line. 

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That's really helpful Anmol. It'll be great if we could share our daily trade setups of nifty on this forum and others could join too. I'll share mine as well

You can download the slides that al is using from the bonus video no. 13. The link is given in the description. 

Postado por: Hardik

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You can download the slides that al is using from the bonus video no. 13. The link is given in the description. 

Thanks Hardik,

Anyone who is not a member can grab same file from this post on the website:

5 steps to finding todays trades

Thanks Richard and Hardik

Thanks Darpan for very insightful chart analysis. I review them daily and they are helping me to understand the PA better.

Regarding today's analysis, I have few questions. It will help if you can share insights on them.

Al talks about context to the left. While I could see outside up bar on 5 TF. This bar was formed at the middle of 15 TF trading range which is considered as no trade zone. In this case do we still have more probability of trend from open?

Another perspective regarding "context" is that on 31Dec we broke below this 15 min TF TR but reverted forming wedge bottom. Post this we are seeing higher highs and higher lows i.e. bull trend. The outside up bar was formed at the bottom of bull channel. So are we going to look at this premise (being most recent context on left) to determine the probability. I have pasted chart for your quick reference.

Cheers and Happy Trading!

Postado por: Amol

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Thanks Darpan for very insightful chart analysis. I review them daily and they are helping me to understand the PA better.

Regarding today's analysis, I have few questions. It will help if you can share insights on them.

Al talks about context to the left. While I could see outside up bar on 5 TF. This bar was formed at the middle of 15 TF trading range which is considered as no trade zone. In this case do we still have more probability of trend from open?

Another perspective regarding "context" is that on 31Dec we broke below this 15 min TF TR but reverted forming wedge bottom. Post this we are seeing higher highs and higher lows i.e. bull trend. The outside up bar was formed at the bottom of bull channel. So are we going to look at this premise (being most recent context on left) to determine the probability. I have pasted chart for your quick reference.

Cheers and Happy Trading!

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Hi Amol, Ill answer your query based on PA on 15min TF.

Yes, we were in middle of a Trading Range, but the recent bars didn't indicate Trading Range Behaviour. There were gaps, HHs and HLs, and Breakouts were having good follow-throughs, all of which is unlikely if the market were to be in a Trading Range. Bulls seemed to be in control. We do have to look at the overall context, but if recent bars indicate possible Bull Breakout, we will give more weight to that. I've attached the chart below to get a better idea of the PA. 

Postado por: Darpan

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Nifty Daily setup for 02.01.2025

Hello Darpan: Let me first commend you on the work producing the EOD slides. Very impressive. One question about the note at the bottom of this slide wrt lows and closes below EMA - you say "All days". Just wanted to understand if you actually meant all days or all bull trend days? The first stat of a touch of the EMA is applicable to all days, but wanted to understand if the other two are applicable to certain day types. Thanks