Intraday Trend Analysis for bank nifty live trading

Intraday Trend Analysis & Trading Plan of Nifty & Bank Nifty Live Trading – December 22, 2022

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Intraday trading can be a lucrative but also risky venture. One of the keys to success in intraday trading is having a solid trend analysis and trading plan in place. In this blog post, we will delve into the concept of intraday trend analysis and how it can be applied to the Nifty and Bank Nifty live trading markets.

By understanding the trends and implementing a well-thought-out trading plan, traders can increase their chances of making profitable trades and minimize potential losses.

Intraday Trend Analyses and Trading Plan for Nifty & Bank Nifty Live Trading – December 22, 2022

After yesterday’s good upside movement, Today, the market opened in red and we saw high selling from the higher level.

If you notice, Yesterday’s trend looks bullish but today’s looks bearish. But one thing is common, both the indices trading in the same range we had previously.

That’s the reason I prefer to trade with a range-bound approach because after all, we all are here to make money, not just to predict the market right. Do you agree?

Positional Trend in Nifty and BankNifty

Now look at the below chart for a positional view:

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Nifty and BankNifty live trading chart

After a breakdown from crucial levels i.e. 18382 & 43288 (spot levels) respectively, we have seen a huge selling in the market. Now, 18070 in Nifty and 42555 in BankNifty, are two levels we need to keep on the radar. I have talked about this in detail in the below video.

The breakdown will lead to lower levels and a breakout will open new upside levels.

Bank Nifty Live Trading
source: tradingview.com

For Nifty, Till it is holding this 18070 (support zone) we should not initiate any short trade in Nifty. In fact, it is a Buy-on-dips opportunity. A short trade will trigger only below this strong support zone.

So don’t go long or short very aggressively and wait for a clear entry signal.

Bank Nifty daily Chart for Bank Nifty Live trading

On the other hand, BankNifty is trading in a broad range of 42551 to 44151. BankNifty needs to break this range on the closing basis for further upside or downside movement.

So, based on the aforementioned charts, we can conclude that both the Nifty and BankNifty are trading in a range and that a range-bound strategy would be appropriate in this situation.

Intraday Trend Analyses and Trading Plan for Nifty & Bank Nifty Live Trading – December 22, 2022

Nifty Option Chain live

Now, If you look at the OI data, you will find that short buildup on the call side and a long buildup on the PUT side in Nifty. Same thing we can see in BankNifty also. So at first look, we can see that the trend is Bearish in both indices.

Intraday Trend is “Highly Bearish” in Nifty and “Bearish” in Bank Nifty. So we should sell calls in BankNifty but take a neutral trade in Nifty because of expiry. And we can adjust our position if there is any change in the trend.

Intraday Trades for Nifty and Bank Nifty live trading :

  1. In Nifty I have sold 18000 CE & 18300 PE
  2. In BankNifty I have sold 43000 CE

We use a unique method to analyze Intraday trends, strike selection, and perfect entry, which I have shared in this my below course:

I hope this analysis will help you to take better decisions. In case you have any queries feel free to leave them in the comment box. or you can chat with me through WhatsApp.


DISCLAIMER: We are not SEBI research analysts. Views and trading strategies are posted in this weekly market newsletter only for educational purposes. There is no liability whatsoever for any loss arising from the use of this product or its contents. This product is not a recommendation to buy or sell, but rather a guideline for interpreting specified analysis methods.  This information should only be used by investors and traders aware of the risk inherent in securities trading.

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