Nifty & Bank Nifty Best Trade Setup For Tomorrow: Monday’s trading session in Indian Stock Indices was quite unpredictable, but it eventually ended on a positive note. This came after several days of continuous selling pressure. The Nifty index finished the day up by 0.30%, hitting a low of 19,601 and a high of 19,734.
Here’s a breakdown of the Nifty 50 stocks for today: 24 stocks saw gains, 25 saw declines, and 1 remained unchanged.
In this post, we’ll provide our analysis and predictions for Nifty and Bank Nifty, along with trade setups for tomorrow. Please keep in mind that our predictions are for educational purposes only, and we recommend practicing in paper trading first.
Nifty & Bank Nifty Best Trade Setup For Tomorrow
Our Nifty prediction for tomorrow is bullish as long as it stays above the 19,600 level. The first bullish target is 19,770, and the second is 19,840.
If you’re considering a bullish trade, consider entering at the 19,650 level. If you’re already in a bullish position, it’s a good idea to sell 50% of your holdings at the 19,700 level and let the rest ride toward the next target.
As for Bank Nifty, our prediction for tomorrow is also bullish. We anticipate some short covering, potentially reaching up to 50% of the levels from the previous impulsive selling.
If you’re holding Call Options (CE) for BTST (Buy Today, Sell Tomorrow), aim for a target of 44,980. If you’re looking to enter fresh positions, consider doing so at 44,678. The second bullish target is 45,100.
If you’re considering bearish trades, wait for a rejection and bearish candlestick patterns around the 45,000 level. Always maintain strict stop-loss levels and trade with proper risk management to stay calm, which is crucial for traders aiming for profitability.
