As explained in a previous Bank Nifty futures supply and demand forecast, Bank Nifty India managed to broke all-time high last December 2019 but covid-19 fear shuttered the progress the index had made in previous months creating one of the strongest bearish impulses in many years. Since that strong sell-off at the beginning of 2020, Bank Nifty has almost reached pre covid-19 price levels.
Nifty 50 has already broken all-time highs. We expect Bank Nifty to do the same in the next weeks. This scenario is affecting positively Bank Nifty stocks. It’s is moving higher as expected, following suit what Nifty 50 NSE index and what other world indexes have already accomplished, including Nasdaq and S&P500 american indexes.
There is nothing to the left on the weekly timeframe to stop Bank Nifty from rallying much higher. As supply and demand traders we must not sell after a very strong bearish impulse, it goes against the core concepts of supply and demand theories. As predicted in Bank Nifty futures analysis and forecast there was a lot of room for Bank Nifty futures index to reach the weekly supply around 30200 around #1. Swing traders and intraday traders would have many opportunities to trade all the way up to that price level. Bank Nifty futures is moving as expected.
Take a look at Bank Nifty monthly timeframe analysis and forecast below. That’s what we are expecting to see in the forthcoming weeks.
This is the kind of price action technical analysis you will learn in our stock traders community. You will learn how to locate new supply and demand imbalances and trade without using any indicators, no news, no fundamental analysis, no earnings announcements, no volume or VSA analysis. Just supply and demand imbalances.
Watch Bank Nifty futures video analysis and forecast for December 2020 and 2021
Trading supply and demand imbalances is ideal for beginners and those with a full or half time job, you won’t need to stay in front of the computer all day long trying to move price action on Bank Nifty NSE index with your mind.
As supply and demand traders, we do not need to pay attention to the news, fundamentals or any earnings reports. Once a big timeframe imbalance has gained control, earnings do just the opposite and react strongly to those imbalances. Why is it that you see positive earnings and then the underlying stock drops like a rock, or a negative earnings announcement and the stock rallies like a rocket out of control? You are probably missing the fact that there are big imbalances gaining control.
Unless you are doing very short term trading and scalping, you should not worry about fundamentals or earnings announcements on Bank Nifty NSE index.
You can use these imbalances to plan your trades in lower timeframes. Trading is just waiting for the right trigger points and scenarios to present themselves, this game has got a name and it’s called the waiting game. We need to patiently wait for the correct scenarios and setups to happen and wait for the price to pull back or dip into the price levels we want to trade, in our case these price levels are made of supply and demand imbalances.
If you want to view more index analysis like that you can visit our Index market analysis page.
Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Set and Forget, its employees, or fellow members. Futures, options, and spot currency and stocks trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex and futures markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell spot Forex, cfd's, stocks or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.
High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in Forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.