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BANKNIFTY

BankNifty Intraday Support & Resistance Levels for 02.09.2024On Friday, BankNifty opened with a gap up, reaching a high of 51466.55 before closing at 51351. With BankNifty now above the 51316 level (61.8% FIBO retracement), sustained trading above this level could trigger a rally towards 51750 and beyond. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. Support Levels: Near Minor Demand/Support Zone (15m): 50984 - 51073 Near Demand/Support Zone (30m): 50663 - 50772 Far Demand/Support Zone (30m): 50393 - 50507 Far Demand/Support Zone (30m): 49806 - 50017 Far Demand/Support Zone (125m): 49681 - 49797 Resistance Levels: Near Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 (Current price inside the zone) Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPal
BANKNIFTY Intraday Trade Setup For 2 Sep 2024BANKNIFTY Intraday Trade Setup For 2 Sep 2024 Bullish-Above 51470 Invalid-Below 51360 T- 51850 Bearish-Below 51250 Invalid-Above 51360 T- 50770 BANKNIFTY has closed on a slight bullish note with 0.82% gain today. After breakout of 50800 on 22 Aug , it was discussed that index is approaching 52k in the coming days. We have reached 51466 and rest can be gained this week. Overall index is volatile and sideways. Directional move with momentum is still void. 51470 and 51250 are intra levels for tomorrow. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 51470 then we will long for the target of 51850. For selling we need a 15 Min candle close below 51250. T- 50770. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
#Banknifty directions and level for September first week.Bank Nifty: Structurally, Bank Nifty differs from Nifty. However, if this week starts positively, we can expect it to reach at least the 78% Fibonacci level on the upside. in this case, > If the market takes time to reach that level, it may undergo a correction of 23% to 38% in the minor swing. This means if it reaches the 78% level gradually, it may lead to a minor correction. >On the other hand, if the market reaches that level solidly (78%), the rally will likely continue to the next supply zone (52,035). Alternate View: The alternate view suggests that if this week starts with a negative candle, then structurally, we can expect a range-bound market, which means a flat correction. In this case, if the market breaks the demand zone aggressively, it may reach a minimum of the 78% Fibonacci level down to the swing low in the minor swing.
NSE:BANKNIFTY
by Manickamtraders
Bank-Nifty // 4 Hour //Support and Resistance with SkyTradingMod"Welcome to SkyTradingMod " Hello Everyone 👋 Most Impotent: Support Levels: Around 51,000 and 50,700. Resistance Levels: Around 51,400 and 52,000. # Normal Support and Resistance we mark on the Post. The market is currently showing a bullish trend, but it might experience some consolidation before making a decisive move. We’re excited to share our passion with you. From expert the latest trends, we’re here to keep you informed and inspired. Stay tuned for our latest posts and join our community of enthusiastic readers!" Let’s make this a space where everyone feels connected and valued!"
NSE:BANKNIFTYLong
by SkyTradingZone
Nifty & Bank Nifty Analysis: Mixed Signals in the Final MinutesIn the last 30 minutes of yesterday's trading session, we saw a significant volume spurt in both NSE:NIFTY and NSE:BANKNIFTY , yet prices remained within a tight range. While NSE:NIFTY was trying to hold its ground with buyers stepping in, NSE:BANKNIFTY faced notable selling pressure. This divergence could be key in predicting tomorrow’s market movement. NSE:NIFTY managed to stay steady despite the volatility, suggesting that investors are cautiously optimistic about its prospects. The increase in volume without a substantial price change indicates a tug-of-war between bulls and bears. If NSE:NIFTY manages to break above its immediate resistance, we could see a bullish move. However, if it fails to maintain its support, a pullback could be on the cards. NSE:BANKNIFTY , however, showed visible selling in the final minutes, highlighting a lack of confidence in the banking sector. This selling pressure, coupled with the tight range, suggests that traders are uncertain about the near-term outlook. If NSE:BANKNIFTY breaks below its current support level, it could signal further downside risk. On the other hand, a recovery above resistance could reignite buying interest. What to Watch Tomorrow: With both indices ending the day in a tight range but showing different momentum, tomorrow's session could be pivotal. Watch for a breakout in NSE:NIFTY to confirm a bullish bias or a breakdown in NSE:BANKNIFTY to signal potential weakness. Global cues and overnight economic data will also play a crucial role in shaping market sentiment. Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Market conditions are subject to change, and past performance is not indicative of future results. Always conduct your own research or consult with a professional before making any trading decisions.
NSE:BANKNIFTY
by Stable_Logic
Nifty Bank Index Technical Outlook: Awaiting a BreakoutThe Nifty Bank Index is at a critical juncture, forming a symmetrical triangle pattern on its daily chart. This pattern, characterized by converging lower highs and higher lows, indicates a period of consolidation, with a potential breakout on the horizon. Key Levels to Watch: Support: Ascending trendline from November 2022 Horizontal support around 51,173 Resistance: Triangle’s upper trendline Horizontal resistance near 51,699 Potential Scenarios: Bullish Breakout: A move above the triangle’s upper boundary could lead to a continuation of the bullish trend, targeting levels above 52,500. Bearish Breakout: A drop below the ascending trendline may trigger a decline towards the 50,000 mark or lower. Volume Insight: Recent spikes in volume suggest that a breakout—either up or down—might be imminent. Traders should keep a close watch on these levels for a confirmed move. Conclusion: The Nifty Bank Index is poised for a significant move. A breakout from the symmetrical triangle will likely set the tone for the next major trend.
NSE:BANKNIFTY
by ayusharya_001
1
Rsi and Rsi Divergence #NSEThe Relative Strength Index (RSI) is a widely used momentum oscillator in technical analysis that helps traders identify overbought or oversold conditions in a market. Here’s a brief overview: Interpretation: Overbought: An RSI above 70 suggests that the asset might be overbought and could be due for a pullback. Oversold: An RSI below 30 indicates that the asset might be oversold and could be due for a bounce. Usage: Traders often use RSI in conjunction with other indicators to confirm signals and make more informed trading decisions..
NSE:BANKNIFTYEducation
by Optionclub
A contender to do 10x-15x from CMP in next 2-3 Years.Technical Analysis : Notes on Chart, Price is in Uptrend for the First time since its inception in 2008, 15 years ago. Fundamental Analysis : I would say Average or below average FA for an investment. As Cash Flow does not look, Company got positive results only from last 2 years. P/E ratio is high around 140 but in small caps usually it is the case. But the Solvency Ratio looks good and so Assets are good for long and short term both copared to Liabilities. Next Results are in November and would be a good time to re-evaluate the position. Just from the view of Fundamentals, Its not a screaming buy or more opportunities can be looked, But from the prespective of Technical Analysis a small risk is worth in it. TA wise the Signal is "BUY" Considering the Position may see drawdown of 50-60% also, Be wise to manage Risk Management for this Investment. #DYOR for more. 👍 #Positional / #Long_Term
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NSE:SEPCLong
by holdwithPriyank
6
#Banknifty directions and levels for August 30th.Banknifty Current View: There is currently a range-bound market. Structurally, the market will take its next direction when it breaks either to the upside or downside. > In this scenario, if the market breaks to the upside solidly or with potential volume, the rally will likely continue with some minor consolidation around the level of 51,519 to 51,563. On the other hand, if it breaks the range gradually, it might not go much further and could potentially re-enter the range once again. Alternate variation In the alternate scenario, if the market initially declines, the range-bound behavior is likely to persist. A more significant correction would only occur if the market aggressively breaks the previous low. However, if the bottom is breached gradually, the market may find support around the demand zone and re-enter the range, maintaining its current pattern.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 30.08.2024On Thursday, BankNifty attempted for the third time this week to break above the 51316 level (61.8% FIBO Retracement). It reached a high of 51368.95 but failed to sustain and closed at 51152.75. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. Support Levels: Near Demand/Support Zone (30m): 50663 - 50772 Far Demand/Support Zone (30m): 50393 - 50507 Far Demand/Support Zone (30m): 49806 - 50017 Far Demand/Support Zone (125m): 49681 - 49797 Resistance Levels: Near Resistance Level: 51316 (61.8% FIBO Retracement level) Near Supply/Resistance Zone (15m): 51303 - 51369 Near Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 (Already Tested) Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPal
BANKNIFTY Intraday Trade Setup For 30 Aug 2024BANKNIFTY Intraday Trade Setup For 30 Aug 2024 Bullish-Above 51410 Invalid-Below 51300 T- 51960 Bearish-Below 50930 Invalid-Above 50040 T- 50390 BANKNIFTY has closed once again on a flat note. It was clearly that we will keep non-directional approach inside our buy sell levels. Outlook worked but today was volatile one inside range. Since last 3 sessions index is stuck between 51400 and 50900. Breakout needed for a directional view or else will keep non-directional approach till breakout happens. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 51410 then we will long for the target of 51960. For selling we need a 15 Min candle close below 50930. T- 50390. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
RELIANCE Levels // 15 MinReliance Industries has been following 87-period time cycles on the 15-minute chart quite effectively. Combining these time cycles with price action provides a powerful setup for understanding when to take trades. Let’s break it down: Time Cycles: The 87-period time cycles on the 15-minute chart indicate that Reliance Industries tends to turn upward after every 87 periods, resulting in significant trending moves. This can be a valuable tool for intraday traders. Price Action: By analyzing price patterns and candlestick techniques, traders can enhance their understanding of market dynamics. Remember that focusing solely on prices or indicators without considering time can lead to failed breakouts. Application: While this technique works well on the 15-minute chart, you can also apply it to daily charts or higher time frames for more substantial moves.
NSE:RELIANCE
by SkyTradingZone
#Banknifty directions and level for August 29th.Bank Nifty Current View: The Bank Nifty chart is saying that if the market opens with a gap-down, then it may continue the correction, reaching a minimum of 61% with some minor consolidation. After that, if it finds support there, we can expect a maximum bounce of 23% to 38%. Structurally, it won’t sustain. Once it rejects there, then the correction will likely continue. Alternate View: Alternatively, if the initial market takes a solid bounce back and breaks the 38% Fibonacci level in the minor swing, then it may turn into a range market.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 29.08.2024On Wednesday, BankNifty opened with a gap down and remained in a narrow range throughout the day, closing at 51143.85, down by 134 points. The weekly trend (50 SMA) is positive, and the daily trend (50 SMA) remains sideways. Support Levels: Far Demand/Support Zone (30m): 50663 - 50772 Far Demand/Support Zone (30m): 50393 - 50507 Far Demand/Support Zone (30m): 49806 - 50017 Far Demand/Support Zone (125m): 49681 - 49797 Resistance Levels: Near Resistance Level: 51316 (61.8% FIBO Retracement level) Near Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 (Already Tested) Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPal
HDFCBANK Levels For Intraday or swing TradingChart Overview: Current Price: ₹6,735.851. Recent Performance: 1 day: -0.20% 5 days: +0.53% 1 month: +1.98% 6 months: +16.73% Year to date: -4.06% 1 year: +4.82% 5 years: +45.74% Support and Resistance Levels: Pivot Points: Resistance 1 (R1): ₹6,650.37 Resistance 2 (R2): ₹6,684.38 Resistance 3 (R3): ₹6,712.77 Pivot Point: ₹6,621.98 Support 1 (S1): ₹6,587.97 Support 2 (S2): ₹6,559.58 Support 3 (S3): ₹6,525.57 Fibonacci Pivot Points: R1: ₹6,645.82 R2: ₹6,660.55 R3: ₹6,675.28
NSE:HDFCBANK
by Optionclub
Nifty IT Levels For Long or swing TradingNifty IT Chart Overview: Current Value: ₹24,7801. Recent Performance: 1 day: +0.76% 5 days: +1.47% 1 month: +2.40% 6 months: +12.59% Year to date: +15.11% 1 year: +29.61% 5 years: +127.45% Key Data Points: Volume: Not specified Previous close: Not specified Open: Not specified Day’s range: Not specified Recent Analyst Views (August 22nd): Price was moving in a wide range for two days and broke out above the consolidation range. Buy Above: ₹24,780 Stop Loss: ₹24,740 Targets: ₹24,820, ₹24,860, ₹24,890, and ₹24,920 Sell Below: ₹24,680 Stop Loss: ₹24,720 Targets: ₹24,640.
NSE:CNXITLong
by Optionclub