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Bank Nifty - My trading SetupI always follow the KIS (Keep It Simple) principle in my trading. I simply trade what my chart says. Bank Nifty has been trading in an upward rising channel. So, which side to choose (bullish/bearish) is self explanatory. But, let me just put it out for you. As you may see on the chart that the upper channel line is acting as a good resistance and the lower channel line is acting as a good support. I wait for the price to touch either the upper line or the lower line. I sell CE once it takes a U turn from upper line and similarly I sell PE once it deflects from lower channel line. The center line acts as a neutral but important zone. A reversal from this line means CE selling and a strong crossing above it means PE selling. Trades can be taken based on how the move behaves on a 15min time frame. But this is not a HOLY GRAIL and is not that easy as it seems. Markets are supreme and need not follow what we think or have decided. Hence, always be alert and change/cut your position accordingly and do no hesitate from taking a loss. Disclaimer: Do not simply dive into trading acc to what has been told above, do your own due diligence, put your own brain to it and then decide your levels/positions/setup. The idea behind sharing this was to impart knowledge/perspective to look at charts and not a recommendation. Happy Trading!! :)
NSE:BANKNIFTY1!Education
by Ankit_Oberoi
28
Bank Nifty looks bearish for tomorrow (27 Aug 2021)Prediction: Since there is Jackson Hole Event, chances are that market wont leave their position open. Hence, there are high chance that we see Bank Nifty down tomorrow. Further, 35600 is important support. Next support will be 35350-00. Below 35300 don't forget to short with SL 35375. Pattern: An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns. The breakout can occur to the upside or downside. Ascending triangles are often called continuation patterns since the price will typically breakout in the same direction as the trend that was in place just prior to the triangle forming.
NSE:BANKNIFTYEducation
by Spunkygamer
BANKNIFTY WEEKLY ANALYSIS By OmahtoCurrently Nifty Bank Has Fallen Like Anything. But Look At The Magic Of Harmonic . It Met With The 0.886 PRZ in And The Fall Has Stopped. But In Case We Break That Level i.e 30600 And Close Below That In Daily Time Frame. We May Fall Till 29000 -28648. But Chance Are Less As It Has Fallen Too Much. Now If You Choose To Look For Ultra Longs In Intraday Between Nifty And Banknifty , I Would Prefer Banknifty. In The Higher Side If It Sustains Above 32500 Then We Can See A Upside Momentum. Important Support And Resistance In Higher Time Frame Support- 30600 Resistance 32500 For Nifty And BankNifty Calls Join Our Premium Group Contact Detail Given In Profile Page
NSE:BANKNIFTYEducation
by Omahto
BANNIFTY - UNDERSTANDING CHARTS ( 6th & 7th October 2020)Second chart from the series of taking a look at the week that was in BankNifty. This week was very bullish trend in the market. This chart indicates the overall breakout of the BANKNIFTY from it's bearish trend. The previous two trading sessions have been studied in the below chart. October 6th Trading Session BULLISH MOMENTUM IS CONTINUED FROM THE PREVIOUS SESSION. MARKET OPEN GAP UP BUT PROFIT BOOKING SEEN IN FIRST CANDLE. SIDEWAYS MARKETS UNTIL 2PM SHOWING CONSOLIDATION 2PM BREAKOUT WHICH SETTLES ABOVE PREVIOUS DAY RESISTANCE October 7th Trading Session SLIGHT GAP DOWN IN THE OPENING CANDLE. BTST TRADERS BOOKING PROFIT IN THE MARKET OPEN. EVENTUALLY BUYERS WIN THE TUSSLE. BUYING VOLUME IS HIGH. PRICE BREAKOUT OVER THE PREVIOUS DAY RESISTANCE. BULLISH MOMENTUM IS SUSTAINED. PREVIOUS DAY RESISTANCE TRENDLINE TAKES SUPPORT IN THE FOLLOWING TRADING SESSION ENTIRE TRADING SESSION HAS BEEN ONE BIG CONSOLIDATION AS THE PRICE IS CLOSE TO THREE MONTH RESISTANCE. NOT ENOUGH BUYING AT 2PM FOR BREAKOUT, SELLERS WON.
NSE:BANKNIFTY1!Education
by jashjacob
BANKNIFTY LEVELS 18/09/2020Currently sitting at a support zone of 22280-22300. Break below this can take us to 22090. Above 22300 we have 22505, 22650. Have a look on the chart for the support and resistance levels. Share your opinion in the comment section below, and like and follow for daily market analysis ! Professional Trader | Experience: 2.5 Years NOTE: The above mentioned views are for educational purposes only. You acknowledge the fact that you are alone responsible for your profits and losses, we won't be responsible for any kind of loss that you might incur by following our signals.
NSE:BANKNIFTYEducation
by Anshul_Verma
Science Backed by Data[Bank Nifty Series]: BankNifty new wave ?Let's Learn and Earn. Elliot wave mostly if identified correctly helps in discovering important psychological levels. Bank Nifty Second waveform can start and wave 5 for previous wave form is complete with correction of ABC. Today's last 15 min start of new likely wave of Bank Nifty is beautifully mapped on 15min Chart for your consumption. Also if it enters the pitchfork channel, ride the trend and look for wave 1. Previous wave 1 length has been 1892 points. This will bring target to 20814+1892 = 22706 for BankNifty Target Now time for some Learning. 3 Most Important rules of Elliot wave are • Wave 2 can’t retrace more than the beginning of wave 1 • Wave 3 can not be the shortest wave of the three impulse waves, namely wave 1, 3, and 5 • Wave 4 does not overlap with the price territory of wave 1 (Mostly overlooked). Even if one of the above rule is invalidated, you should not assume wave's to be correct. Let me know with a like if you enjoyed reading the Analysis. This will encourage me to work harder.
NSE:BANKNIFTYEducation
by SiddRidd
Bank Nifty Weekly Analysis - Important Level will Hold or NotHello, In previous week Bank Nifty filled the one pending gap @ 31800-31870. After all time high BNF is making lower low and higher low. In this week important 1st important level to hold is 31050-31150 and 2nd is 30600-30650. Below 30600-30650 it may test 30350-30400-30450 which is a next strong demand zone. If BNF will hold 31050 and 30600 then it may trade sideways or sideways to positive. In this week BNF may stronger then NF. In this week I will focus on Option writing instead of Future trading. Trade Well
NSE:BANKNIFTYEducation
by Swapilchoksi
New Update in Bank NiftyAs 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 as well as weekly. There is a gap @ 30800-30860. So in coming day BNF will fill this gap. My scene is that in higher time frem BNF is in oversold position so may be it will be sideways or sideways to positive for sometime but remember bhav bhagwan che. My Trading Plan: If it will sustain below 30900 then I will take a short position I will take a short position if it will test 31300-350 or 31450-550 and not able to sustain above this zone. Thank x Tread Well.
NSE:BANKNIFTYEducation
by Swapilchoksi
5