Post market analysis of Nifty and Bank nifty, for the Intraday traders

1. POST MARKET ANALYSIS
Date – 9th August 2023
BANKNIFTY -
Market is currently in downtrend on daily time frame, today’s CPR was very narrow and
market opened near CPR and made a big red candle, but not able to break the PDL in the
next candle a small red candle was made and broken previous range as you can see in the
image, there a setup is formed small candle breakout setup, risking a very small stop loss
bigger target has been achieved. Later market reversed from S3 and shown an aggressive
bullish move.

2. NIFTY -
Nifty also in downtrend and made first candle big bearish, and it had broken the previous
range later it made a very quick and strong bullish move even broken the first big bearish
candle high.