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BANKNIFTY

#Banknifty directions and level for August 22nd.Bank Nifty Bank Nifty has a range-bound structure, so structurally, the probability is that the range will continue. that's, If the gap-up doesn't sustain, we can expect a correction of 38% to 78%. after that, If it finds support at the 78% level, it may bounce back. On the other hand, if it consolidates or breaks the 78% level, we can expect the next target to be the swing low at 50145. The alternate scenario is similar to Nifty. that's, If the gap-up sustains and breaks the level of 50877, the rally will likely continue, and we can expect the next target to be at least the swing high of 51116.
NSE:BANKNIFTY
by Manickamtraders
2
BankNifty Intraday Support & Resistance Levels for 22.08.2024On Wednesday, BankNifty opened with a gap down but found support at the 30m Demand Zone mentioned in the last post, rallying to a day high of 50772.45 before closing at 50685.55. The weekly trend (50 SMA) remains positive, and the daily trend (50 SMA) has shifted from negative to sideways. Support Levels: Near Demand/Support Zone (30m): 49806 - 50017 Far Demand/Support Zone (125m): 49681 - 49797 Far Support Level: 49660 (Double bottom on the Daily Chart) Resistance Levels: Near Small Supply/Resistance Zone (75m): 50915 - 51018 Far Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPal
BANKNIFTY Intraday Trade Setup For 22 Aug 2024BANKNIFTY Intraday Trade Setup For 22 Aug 2024 Bullish-Above 50810 Invalid-Below 50700 T- 51515 Bearish-Below 50300 Invalid-Above 50410 T- 49650 BANKNIFTY has closed with a slight cut of 0.23% today but on a positive note as it has formed a Pinbar candle and closed near day high. 50810 looks like an important level for a bullish trigger as bulls may give breakout in daily TF. Daily TF range of 50800 and 49700 is still intact, time for a range shift now. 51k and 50300 will be key level for tomorrow. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 50810 then we will long for the target of 51515. For selling we need a 15 Min candle close below 50300. T- 49650. 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
Bank Nifty Analysis: Head and Shoulders Pattern in the Making?NSE:BANKNIFTY closed relatively flat today amidst some market volatility. However, the pattern forming on the chart does not look good. We are potentially witnessing the development of a Head and Shoulders pattern, which, if completed, could signal a downward move. If this pattern plays out, we may see the index decline towards the 49,640 level. On the other hand, if Bank Nifty fails to form the pattern and continues its upward trajectory, we can see a significant resistance around the 51,900 level. Important Levels: Support - 49640 Resistance - 51900 Traders, if you liked this analysis or have your own insights, please share your thoughts in the comments. I would be glad to hear from you! 👩‍💻 Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Please conduct your own research or consult a financial advisor before making any trading decisions.
NSE:BANKNIFTY
by Stable_Logic
#Banknifty directions and levels for August 21st.Current View > That,The market may open with a slight gap-down start, according to the SGX Nifty indication. So, after that gap-down, if the market finds support around the immediate support level, it may consolidate between the previous day's high and the immediate support level. > But, Even if it consolidates, structurally, it will continue the rally once it breaks the previous day's high. In this case, if it breaks the previous high without consolidation (like yesterday’s movement), the same bullish trend may continue further. Alternate View > The alternate scenario suggests that if the gap-down sustains and the market breaks the immediate support level solidly, then the correction could continue, with some minor bounce-backs. These are the two possible scenarios for today's session.
NSE:BANKNIFTY
by Manickamtraders
11
BankNifty Intraday Support & Resistance Levels for 21.08.2024On Tuesday, BankNifty surpassed the 50750 resistance level, reaching a high of 51025 before closing at 50803.15, gaining 434 points. Notably, this is the first time since 2nd August that BankNifty has closed above 50800. The weekly trend (50 SMA) remains positive, and the daily trend (50 SMA) has shifted from negative to sideways. Support Levels: Near Demand/Support Zone (30m): 50283 - 50423 Far Demand/Support Zone (30m): 49806 - 50017 Far Support Level: 49660 (Double bottom on the daily chart) Far Support (FIBO 61.8% Level): 48858 Resistance Levels: Near Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPal
Bank Nifty Analysis: A Critical Juncture for Potential Gains The Bank Nifty is currently at a decisive crossroads, presenting a compelling opportunity for traders. The index has formed a double bottom pattern and appears to be breaking out of its channel, which typically signals a bullish reversal and the potential for significant upward movement. This setup suggests the possibility of substantial gains if the breakout proves strong and sustained. However, caution is warranted. Although the breakout looks promising, it lacks strong confirmation at this stage. There is a risk that the index could fall back into the channel, potentially continuing its previous downtrend. This scenario could offer an opportunity for traders to short the market or adjust their positions accordingly. All critical support and resistance levels have been marked on the chart, providing valuable insights for trading decisions. For those interested in leveraging this volatile period, I will be sharing the important supply and demand levels for tomorrow at market open in the morning. Monitoring these levels closely will be essential for navigating the Bank Nifty’s movements and optimizing trading strategies. Disclaimer: This analysis is provided for informational purposes only and does not constitute financial advice. Trading in financial markets involves risk and may not be suitable for all investors. Please conduct your own research or consult with a financial advisor before making any trading decisions.
NSE:BANKNIFTY
by Stable_Logic
Banknifty weekly expiry analysis for 21/08/2024.Banknfity has given a nice move on the upper side clearing the resistance zone of 50800 but reversed after testing the round levels of 51k. The markets were looking bullish from the morning and even in the second half. The last hour selling has created a confusion about the market movement for tomorrow. It has been respecting the resistance trendline and retested 38.2% fib levels. Shorting opportunity in the market will trigger once the makret starts trading below 50550 levels. If today's high is taken out by the market, a gap filling trade can be a possibility while testing the higher levels. Major support levels :- 50550, 50250 Resistance levels :- 51000, 51260 Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
BANKNIFTY Intraday Trade Setup For 21 Aug 2024BANKNIFTY Intraday Trade Setup For 21 Aug 2024 Bullish-Above 51050 Invalid-Below 50940 T- 51650 Bearish-Below 50670 Invalid-Above 50780 T- 50100 BANKNIFTY has closed on a bullish note with 0.86% gain today. It has closed exactly at tip of the daily TF range of 51800 and 49700. Now above today's high - 51050 a range shift will happen and move of atleast 1200 points can be triggered. Below 50670 index may result in false breakout of daily TF bullish breakout. In the weekend we have already discussed there index recent trend was bearish so we have to be alert for any of fakeout and trade that. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 51050 then we will long for the target of 51650. For selling we need a 15 Min candle close below 50670. T- 50100. 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
NIFTY Intraday Trade Setup For 21 Aug 2024NIFTY Intraday Trade Setup For 21 Aug 2024 Bullish-Above 24740 Invalid-Below 24690 T- 24960 Bearish-Below 24600 Invalid-Above 24650 T- 24390 NIFTY has closed on bullish note with 0.51% gain today. Buy triggered as per trade setup above 24650 and made a high of 24734, just after small rally of 45 Min it turned total sideways for the rest of the day. As stated in the weekend analysis that we are likely to fill the two gap areas in daily TF, one of them achieved today. Now fair chance of a reversal from the gap resistance area but will be confirmed below 24600 only. Above 24740 it will head towards 25k. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 24740 then we will long for the target of 24960. For selling we need a 15 Min candle close below 24600. T- 24390. 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:NIFTY
by Omahto
NIFTY BANK At Multiple Support Zone : Observing A Buy SetupThe extension phase in Nifty Bank wrapped up on July 4th, 2024, hitting a fresh high. Since then, we've been in a correction phase. Now, let's zoom in on the 4-hour chart. What do we see? Multiple support levels, and they're not just any support levels: A trendline that's been holding steady since October 2023. The 200 EMA, a key moving average to keep an eye on. A previous resistance zone, which now should flip into a strong support. The 0.5 Fibonacci support level, adding to the mix. Right now, the price is sitting snugly at all these levels, creating a sweet spot of confluence. What should traders be watching for? Look out for bullish candlestick patterns like a Bullish Pin Bar, Morning Star, a Bullish Engulfing etc. These could be the signals we need. If this robust support area holds, Nifty Bank is likely to target the 51000-51150 zone – not only a psychological level but also the upper boundary of the channel we’ve marked on the chart. Trade smart, and always weigh your risk before you get greedy on reward. Regards, Rafat K.
NSE:BANKNIFTYLong
by khanrafat20
Banknifty Trend Report Hello Everyone 👋 Today Bank-Nifty Try to Break High if Bank-nifty Break High so we need to cut our Down position. Give me Some Time Today We upload Some Levels So you Can I Easily Identify Trend. 1.Bullish Shark Harmonic Pattern: The BANK-NIFTY chart currently showcases a Bullish Shark Harmonic Pattern forming within a rising parallel channel. This pattern suggests a potential bullish move, provided that the price holds above the crucial level of 50,149. That level should act as a strict stop loss. 2.Recent Trend: On August 14, there was a trending move. The price consolidated in the morning for a few hours and then started to fall. Currently, the price is at a support level, and it can either move up or continue to fall. The trend direction is still deciding, so keep an eye on it. 3.Long-Term Investment Considerations: If you’re considering long-term investment in the banking sector, consider Bank Nifty ETFs. These exchange-traded funds offer easy diversification and flexibility.
NSE:BANKNIFTYLong
by SkyTradingZone
2
#Banknifty directions and levels for August 20th.In the previous session, Banknifty closed with consolidation, so the previous sentiment may continue today as well. However, I will explain it simply. First, let's look at an alternate variation. Alternate Variation: The previous pullback was strong, that indicating a bullish trend. So, if the market breaks the previous high solidly or after some consolidation, we can expect the rally to continue. This is our alternate view. In this case, if the breakout has a solid structure, then the upcoming rally could be a long one, structurally forming a "flag pattern." On the other hand, if the breakout occurs with low volume, meaning if it breaks with some grinding, the upcoming rally could be smaller. Current View: The current view is similar to what we saw in the last session. If the market finds support at the immediate support level, it may continue to consolidate, and if this happens, it could break upward. But if it breaks the immediate support level strongly, then we can expect the correction to continue.
NSE:BANKNIFTY
by Manickamtraders
5
BankNifty Intraday Support & Resistance Levels for 20.08.2024On Friday, BankNifty opened with a gap up but failed to cross the near resistance at 50750, dropping over 440 points from the day’s high before closing at 50368.35, losing 148 points from the previous close. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is negative. Support and resistance zones remain unchanged from the last post. Support Levels: Near Demand/Support Zone (30m): 49806 - 50017 Far Support Level: 49660 (Double bottom on Daily Chart) Far Support: 48858 (61.8% FIBO Retracement of the rally from 46078) Resistance Levels: Near Resistance Level: 50750 Far Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609
NSE:BANKNIFTY
by PriteshPal
Banknifty analysis for 20/08/24.A flag and pole pattern formation is there on the charts. While market is trading around the resistance zone of the range. If there is a break out of the Flag, wait for the market to clear the resistance levels. A scalp can be made for small targets but intraday position should be initiated only once the upper levels are cleared. Moving average gate is being formed acting as a support for the market. Levels are marked on the charts. Trade only the markets not the emotions. Wait for the price action near the levels before entering the markets .
NSE:BANKNIFTY
by Mambotrade