Probable Scenario Analysis of Nifty Bank for the 22nd of June, 2026. The day is Monday.
🟢 Bullish Scenario
There is no evidence of a clear bullish scenario. The zone (77500 - 77250) would act as strong resistance. A bullish setup would emerge if the price sustains and trades above the level of 77500. The price must sustain above the level of 77500 for at least 30 minutes and show signs of bullish continuation. In that case, the probable bullish targets would be - 77750 and 78000.
🔴 Bearish Scenario
The level of 76500 is weak support. If the level of 76500 is broken down, then a bearish setup would trigger. The price must at least spend 30 minutes below the level of 76500. The probable bearish targets below the level of 76500 would be - 76250 and 76000. The level of 76000 would offer good support. Next, if the price decisively breaks down below the level of 76000, then the probable bearish levels would be - 75750 and 75500.
🔵 Availability of Unfilled GAPS
There is an unfilled gap till the level of 76250. Next, there is a 750-point unfilled gap below the level of 76250. Thus, an unfilled gap is available till the level of 75500.
🟡 No Trading Zone (NTZ): (77500 - 76500).
Presently, the price is in the NTZ. A breakout would confirm bullish continuation, while a break down from the NTZ would initiate bearish sentiment. Thus, mark two levels: 77500 and 76500. Be bullish above the level of 77500 and be bearish below the level of 76500. If the price remains in the NTZ, then don't deploy a directional strategy. Go for the non-directional trade execution.
🟧 Hypothesis: Evidence of Potential Head-&-Shoulder (H&S) Pattern Formation
There is an early sign of potential H&S pattern formation in the range-bound zone of (77500 - 76500). A breakout from this zone would nullify the possibility of H&S formation. On the contrary, a breakdown below the level of 76500 would confirm the potential formation of an H&S pattern. We have to wait for confirmation.
● Event
There are no high-impact events in the coming week. However, we have to deal with two expiries and one holiday. On Tuesday, there will be a Nifty 50 weekly expiry. On Thursday, there will be SENSEX monthly expiry. Thus, Thursday will be a very critical day. Lastly, Friday is the National Holiday (Muharram). We have only four trading days this week.
● Intraday Bias
Establish intraday bias with respect to the opening price. If the price sustains above the opening price, then don't think of shorting. Look for bullish trades only. On the contrary, if the price sustains below the opening price, then don't think of going long. Look for bearish trades in that case.
● Disclaimer + End Note
➤ All the analyses would fail in the case of a major gap up, gap down, or price structure anomaly. Thus, practice PRAGMATISM in the live session.
➤ Trade only if there is a set-up. Remember, not trading is an extension of the trading activity.
➤ Mark your points. Trade your points. Price is GOD. Anything can happen in the markets. Thus, trade what you see, not what you believe.
➤ Always PRACTICE RISK MANAGEMENT. Always PROTECT YOUR CAPITAL. Be RESPONSIBLE.
➤ Be Strategic. Be Courageous. Be Patient. Be Wise.
➤ Every day is a new day. Thus, do not carry the baggage of past successes or failures. Leave the gardens of winning and losing. Establish yourself in equanimity. Always think from a new perspective.
➤ Let the joy of trading drive your effectiveness, not greed or fear. Believe in Possibilities.
Happy Trading!
🟢 Bullish Scenario
There is no evidence of a clear bullish scenario. The zone (77500 - 77250) would act as strong resistance. A bullish setup would emerge if the price sustains and trades above the level of 77500. The price must sustain above the level of 77500 for at least 30 minutes and show signs of bullish continuation. In that case, the probable bullish targets would be - 77750 and 78000.
🔴 Bearish Scenario
The level of 76500 is weak support. If the level of 76500 is broken down, then a bearish setup would trigger. The price must at least spend 30 minutes below the level of 76500. The probable bearish targets below the level of 76500 would be - 76250 and 76000. The level of 76000 would offer good support. Next, if the price decisively breaks down below the level of 76000, then the probable bearish levels would be - 75750 and 75500.
🔵 Availability of Unfilled GAPS
There is an unfilled gap till the level of 76250. Next, there is a 750-point unfilled gap below the level of 76250. Thus, an unfilled gap is available till the level of 75500.
🟡 No Trading Zone (NTZ): (77500 - 76500).
Presently, the price is in the NTZ. A breakout would confirm bullish continuation, while a break down from the NTZ would initiate bearish sentiment. Thus, mark two levels: 77500 and 76500. Be bullish above the level of 77500 and be bearish below the level of 76500. If the price remains in the NTZ, then don't deploy a directional strategy. Go for the non-directional trade execution.
🟧 Hypothesis: Evidence of Potential Head-&-Shoulder (H&S) Pattern Formation
There is an early sign of potential H&S pattern formation in the range-bound zone of (77500 - 76500). A breakout from this zone would nullify the possibility of H&S formation. On the contrary, a breakdown below the level of 76500 would confirm the potential formation of an H&S pattern. We have to wait for confirmation.
● Event
There are no high-impact events in the coming week. However, we have to deal with two expiries and one holiday. On Tuesday, there will be a Nifty 50 weekly expiry. On Thursday, there will be SENSEX monthly expiry. Thus, Thursday will be a very critical day. Lastly, Friday is the National Holiday (Muharram). We have only four trading days this week.
● Intraday Bias
Establish intraday bias with respect to the opening price. If the price sustains above the opening price, then don't think of shorting. Look for bullish trades only. On the contrary, if the price sustains below the opening price, then don't think of going long. Look for bearish trades in that case.
● Disclaimer + End Note
➤ All the analyses would fail in the case of a major gap up, gap down, or price structure anomaly. Thus, practice PRAGMATISM in the live session.
➤ Trade only if there is a set-up. Remember, not trading is an extension of the trading activity.
➤ Mark your points. Trade your points. Price is GOD. Anything can happen in the markets. Thus, trade what you see, not what you believe.
➤ Always PRACTICE RISK MANAGEMENT. Always PROTECT YOUR CAPITAL. Be RESPONSIBLE.
➤ Be Strategic. Be Courageous. Be Patient. Be Wise.
➤ Every day is a new day. Thus, do not carry the baggage of past successes or failures. Leave the gardens of winning and losing. Establish yourself in equanimity. Always think from a new perspective.
➤ Let the joy of trading drive your effectiveness, not greed or fear. Believe in Possibilities.
Happy Trading!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.