21300-21850 is a major supply zone in Hourly, Weekly, and Monthly chart. On the downside support @ 20450 and demand zones @ 19700-19800 and 19100-19250.
As expected Bank Nifty will open gap down and I don't know how many points it will open in negative. After a gap down it may bounce or it may go down further. I am not that much smart. So I will focus on the...
Today Bank Nifty tested its Short term Major Supply zone @ 21350-21750. This same Supply Zone is there on a daily and weekly chart.
On the downside, there is a minor support @ 20500 and demand zone @ 19700-19800.
I will plan my trade if Bank Nifty will sustain above 21350.
Major supply zone @ 19650-20500 and Demand zone @ 19000-19300.
According to the option data max call writing @ 20000 and put writing @ 18000.
If it sustains below 19000 then 1200 to 1500 point downside range will open.
Nifty closed below its demand zone @ 81120-8165. Once it sustains below this zone on Tuesday then it may test its next demand zone @ 7750-7050.
Carried short position in option because it will get the benefit of 3 days time decay.
tgram a t swapniltradingroom
Hello,
Bank Nifty closed in its supply zone @ 30800-31020. If BNF will sustain above this zone then it may test its next supply zone @ 31275-31375 but in any case, if it will sustain below this zone then it may test 30650 then it may test lower level.
Trade Well
Bank Nifty closed in the middle of the Major Demand and Supply Zone. I think I will avoid trading in the Bank Nifty tomorrow. I will take a short long call from support or resistance and this is not a good area to take a fresh trade. I am in wait & watch mode for tomorrow.
Trade Well
Hello,
Bank Nifty Weekly Demand Zones:
30450-30500 & 30150 & 30820-30900 & 29600-29670.
Bank Nifty Weekly Supply Zones:
30900-31120 & 31450-31650 & 31900-32100
BNF may give a strong downside moment once it will sustain below 30500. I will be bullish once it will sustain above 31560 in this week.
Hello,
Demand Zone @ 31020-31100 and 30600-30450 and resistance @ 31440
On Tuesday there is a possibility that Bank Nifty may underperform. If it will sustain below 31100 then it will get a first bearish signal. I will go short in once it will sustain below 30900.
The above view will change If it will manage to sustain above 31100.
Trade Well.
Hello,
As I have mentioned in my Bank Nifty Weekly post, Bank Nifty chart is stronger than Nifty.
1st Major Supply Zone @ 31375-31475
1st Demand Zone @ 30900-31050
2nd Strong Demand Zone @ 30600-30660
Neckline @ 30500
I am not expecting tomorrow BNF will sustain above its first supply zone. If it will sustain then I will plan for a long trade.
On the downside,...
Bank Nifty Major Demand Zone @ 29530-29650 and major supply zome @ 30500-30600. Today it closed the middle of this range.
Tomorrow if Bank Nifty will sustain below 30000 then I may sell out of the money calls and If it will sustain above 30120 then I will go long for the target of next supply zone.
Thank X
Hello,
Bank Nifty Major Demand Zone @ 29580-29660. If it will sustain below this zone then 1000 point downside range will open but my seance is that it will hold this zone. On the upside Next Supply Zone @ 30000-30120.
On Monday, I want to see in the first 30 mins to 1 hour that I want to see it's trading range then only I will make any trading plan.
Trade Well
Hello,
Please find the next supply and demand zones in the chart.
Today was a perfect juicy short trade but I think now juicy short trade is over. On the down side there are multipal demand zones. In any case if it will break last low near 30600 then it may test next demand zone @ 30350-30450.
In this case I will take my trades through option writing.
Trade Well
Hello,
Bank Nifty may be stronger then Nifty in coming days.
Major Supply Zones @ 31530 and 31750
Minor Demand Zone @ 31070-31150
Let's see on Monday weather it will hold it's minor demand zone or not. If it will manage to hold this level then this demand zone will get more stronger.
Option Writing will be the best strategy instead of Future trading because...
As I mentioned my yesterday post that, I will sell BNF 31300-350 zone or 31450-550 zone or sustain below 30900 but today trading range was narrow and near minor support zone. So today was a trade free day for me in BNF.
Today One thing changed that it has broke its previous bottom @ 30900 and mane a new low @ 30862.
Now very strong support zone @ 30500 on daily...
Hello,
BNF strong demand zone @ 30500-30800. I will prefer to short on bounce.
I will make a short position if it will come to 31500.
I will make a short position if it will sustain below 30900.
If it will be sideways that I may sell 31500 call
NSE:BANKNIFTY
BankNifty RSI closed below trend line
price closed at support
26500 will act as major support
below this another 600 - 900 fall can be possible
Bank nifty is looking quite bearish, RSI is also showing the divergence. It may fill this gap in coming trading sessions, let's see what market kept for us.
Happy Trading!
Rachit
