Bank Nifty - 27 April 2023 Closing analysis & Trade Plan

Hello Learner's,
Everyone is a learner until the end....isn't it?

Lets move ahead with our PANI Analysis (Price Action No Indicator).

What happened on 27th April 2023 & Why?
We will analyse the day move in 2 parts.

Part-1 (0915 to 1115 hrs)
Market followed our trade plan case-2 as discussed in our last analysis. On gap down, we expected a support at around H3, however market took support much earlier at H4. Buyer's did not allowed prices to fall any further. Seller's made 2 down moves (As indicated in red path arrows) but were unable to go below day's low.

Part-2 (1115 to 1515 hrs)
Buyer's on sensing that seller's with their 2 moves could not push prices below the H4 support, they tested the seller's with a green candle at 1115hrs. Buyer's must be happy to see the closing of this candle as it made a morning star at support and closed above its 50%.
The closing of this candle was a good call buy opportunity with stop loss at its opening.
The buyer's never allowed seller's to make any further lower highs and price at all time closed above the green support line. The day ended with a profit of almost 170 pts.

Trade plan for 28 April 2023 !!
Case-1 : If the market open gap up and keeps going up, don't try and chase the market as there is a big seller zone at 43100. Close your system and enjoy ur day.

Case-2 : If the market opens gap down or goes down to find a support at around 42850, it maybe a quick scalp opportunity to buy call and exit quickly on profit.

Quick Psychology Brush-Up !!
(since we always tend to forget basics when looking at profit & loss)
Market has been running upwards for quiet a while and now is at a resistance zone from 43100 to 43400. It is good for us that markets takes some rest, build up and then make a big profitable move. Wait & Watch !! Unnecessary trading for the sake of trading will make us loose all our profits. Have Patience !!

Do enjoy ur long weekend. Fun is must for all of us. See you !!
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