Trading BankNifty? What about Indicators vs BankNifty Internals

As we all know BankNifty is a Sector Indice formed in combination of 12 Different Private and Public Sector banks.

The underlying allocation of BankNifty is based on the daily FREE FLOAT MARKET CAP of the banks that are key constituents of BankNifty .

So are you ignoring the above key concept? Just by running behind the price action of BankNifty and age old Indicators.

Are you able to track the outcome of events for the banks and pump the assumption in to banknifty?

BankNifty Futures volume and Price change is an outcome of BankNifty Index, which ultimately is related to the underlying banks.

So My question here is, are you able to track all the changes in underlying stocks with your Indicators or Trendlines?

We have came up with a Market Internals based approach defined by Stedilmayer(Ex CBOE cheif, Head of the team that Found Black Scholes Methodology(Options Pricing Mechanism) and Inventor of Market profile) to calculate TWO Key Indicators for BankNifty .

1. BankNify Underlying Capitalized weightage Advance Decline - Helps you to understand how the capitalized allocation is moving based on the price action of underlying banks.

2. BankNifty Underlying VOLUME Distributed Advance Decline - Helps you to capture the Positive and Negative Volumes of the Underlying Banks based on the Kinetic Displacement method.

A Special thanks to tradingview for giving Pinescript to the world. Your commitment to the trading world is highly appreciated.

For Access, Please request in the comments section
Hi, appreciate for the innovative indicator and sharing with others for better trading, it will be great if you can grant the access to your banknifty indicators.
how to see above two indicators sir..please let me know

please provide access of your new invention.
sir, can you provide access to your system, thanks
Sir, although I am a newbie but what you have written, I was wondering the same thing. But couldn't find a way to assess bank nifty (not futures/options) volume. Please grant me access to this so I can backtest it. I have seen it giving great signals for sravanreddy.226. Thank you so much.
+1 Reply
Please explain on this
+1 Reply
@ncvinoth6, I think I have a give an detailed explanation above, please go through and let me know if you have any questions.
@ncvinoth6, It provides a deep understand about how the underlying positive and negative volumes of the assigned BankNifty stocks are moving. If you want access I can grant you. Go through it and let me know.
Good analysis. Where exactly to look for capitalised weight age..
sravanreddy.226 raghunandan23
@raghunandan23, hi sir please check in Iisl, operated by NSE
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