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BANKNIFTY-TRADE

Postmortem on #BankNifty - 10 OCT 2022SPX fell 2.8% & NDQ 3.88% on friday and the handout to us today morning was not that positive. As expected bank nifty opened gap down 38461 below the support level of 38698. The first candle was bearish, closed down & may have indicated that the rest of the day will be negative. But what happened in the next 2 candles were the opposite, a hammer the 2nd candle and a bullish marubozu 3rd. The 3rd candle took out the now resistance indicating the day will not be negative but will trade above the 38698 level. And what happened from 10.10 to 12.50 was magic, for a moment i thought bank nifty is really on drugs. How does it find the strength to rally 700+ points on a negative macro day. Notice the price action between 12.30 to 13.00 below, it was right at the resistance level of 39326. BN did not break this resistance and then reversed course to a nice fall till 14.10. From 14.15 to close, BN regained some strength and closed quite strong according to me. Due to the rally today, the IVs were dropping and i could not really enter into any trade. I was expecting the option premiums to double and the IVs to skyrocket - but that did not happen. The traded volume on options were higher, but the premiums were lower indicating a range bound expiry so far this week. However these dynamics can change if the support or resistance is broken - you know how easy it is for bank nifty to send the options premium to the sky. Rs10 to Rs160 will not take even an hour. 5mts TF - does not show bearishness yet. The current pattern shows consolidation with a bullish bias 1hr TF also does not show the bearishness yet - price consolidation at current levels is what i infer Bank nifty important support and resistance liness1:38698, s2: 37946r1: 39326, r2: 39739 Thanks for reading Viswaram Finance! Subscribe for free to receive new posts and support my work.
NSE:BANKNIFTY
by viswaram
Postmortem on #BankNifty - 06 OCT 2022 - Weekly Expiry Bank nifty opened 39343 right at the resistance line made a long wick 5mts 1st candle. The 2nd candle broke the SR line. At 09.40 after seeing the red candle i assumed BN will trade lower and exited the 39500 iron fly at the cost price. I was not expecting BN to go up and the 4 candles from 09.45 to 10.00 really surprised me. And all the trade that happened till 12.55 was against the trades i had in my mind. The reason i thought BN would not go up was because of the long wick and the immediate break in SR during the first 15 to 20mts. The trades from 13.00 to close was something that really comforted me. Eventhough i did not make big money trading today’s expiry - the closing price action was inline with the opening pattern. Again all these trades would be positional as it was the weekly expiry, to know if the trend is continuing or not we need to watch the trades of tomorrow & monday. For traders who would have taken an intraday straddle or strangle - there is a high possibility that their stop loss would have been hit. If for some reason they forgot to put the SL or simply didnt have one - they would have made money as the opening & close was almost the same. 5mts TF shows no specific direction. If tomorrow also BN stays in this range - then i would prefer to plan for a range bound expiry for 13th. 15mts TF shows a W bottom pattern 1hr TF shows the W pattern with much more clarity. This need not be taken so seriously as BN just came out from a double top M pattern last week. So we would need to wait for further sessions to confirm if its trend continuation or reversal. Bank nifty important support and resistance lines s1:38698, s2: 37946 r1: 39326, r2: 39739 Thanks for reading Viswaram Finance! No recommendations, No predictions !
NSE:BANKNIFTY
by viswaram
Postmortem on #BankNifty - 28 SEP 2022 Banknifty opened gap down at 38081 and in the first 5mts candle itself it took out the support line of 37946. There was an immediate bounce somehow giving us the impression that the support was intact, the minor pullback tried to close the gap but lost steam by 10.15. The fall from 10.20 to 10.45 looked interesting because the support level proved quite important now, already in the day it held its shape twice. The trades from 11.10 to 13.20 although lacked strength looked very shallow. #ICICIBank had moved to the positive territory in this window and was providing great support. None of the other banks like #HDFCBk & #SBIN were in positive territory. The move from 13.30 to the close of day was having great conviction towards the negative side. I was also quite surprised to see the big red candle in #AXISbank at 14.05 (which was accompanied by heavy volumes). The last 15 to 20mts saw heavy short positions been taken at the call side. The farthest OTM of 46500 CE was traded more than 1 crore - this might be a new record, at least i have not seen this much volume in the strike that is 9000 points away from ATM 5mts TF - showing bearishness. Banknifty is continuing to break supports with no or nil rally to the nearest resistance lines. 1hr TF also showing bearishness. For any fightback BN has to take out the 38697 resistance immediately. Bank nifty important support and resistance lines s1:37247, s2: 36559 r1: 37946, r2: 38698 more ideas at viswaram.substack.com no predictions, no trade recommendations !
NSE:BANKNIFTY
by viswaram
BANKNIFTY Analysis for 26-AUG-2022 BANKNIFTY ANALYSIS BY SARDAR G MARKET TRADERS NSE:BANKNIFTY On daily frame we can see there was bull run but now forming range. Trading in this time is tricky but if at right point trade is taken will be profitable. On 15min candle We have Resistance and Support for intraday level. Once breakdown on 5min candle execute your trade. But there are different methods to enter the trade. Directly Entering on Breakout or wait for correction. There are also different strategies to enter trade. All depends on your risk appetite. BUY AVOVE 39115 SELL BELOW 38777 ALWAYS RESPECT YOUR STOP-LOSS OF YOU WANT TO BECOME TRADER. EVERY TRADE CAN'T BE PROFITABLE
NSE:BANKNIFTY
by SardarGMarkerTrader
BankNifty ShortI hope you can now see how Banknifty represents an excellent low risk profit entry setup allowing you to trade in the market. Take positions so that the risk/reward is in your favor. Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis . Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these charts are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
NSE:BANKNIFTYShort
by EntryandExit
3
BANKNIFTY Intraday Levels To Watch And Trade on 01 Sep 21Dear Traders, Here in this chart of the BANKNIFTY Index, I have drawn important DEMAND (Support) zone and SUPPLY (Resistance) zone which will be important for intraday trades on 01 Sep 2021. LOGIC- As we know price is the GOD in the stock market, the price of any stock/index itself is the biggest and most important indicator to understand the direction, sentiment & trend of the market. Every business works on the basis of DEMAND & SUPPLY and the stock market is also pure business, so from price, we understand the DEMAND & SUPPLY areas to watch and trade daily. Every day I will post the daily analysis of NIFTY & BANKNIFTY which will help you to trade in intraday. Thank You.
NSE:BANKNIFTY
by sagarTheIndian