Get started

BANKNIFTY

BANKNIFTY Prediction for tomorrow 24 Dec 24As we discussed Bankanifty, Bankanifty opened up +220 points and ended up sideways the whole day. If we look at the chart now: The market is trading at 1H-TF 0.618 fib level, which is a good point to support. It also did hold today nicely. Support levels : 51138, 50719. Resistance levels : 51762, 50 EMA and 200 EMA . If we look at the OI data: PCR = 0.6, which has increased from 0.5, shows bulls are adding PE in lower levels. The market has good PE writing at 51000, which is going to provide good support, and 51500 is going to provide good resistance as having very nice CE writing on a higher level. I have neutral behavior in the market. Reason: Price < EMAs shows bearish market structure. PCR = 0.6 shows that the market is bearish. RSI is 40 - 60, showing the sideways market structure. Price < VWAP shows the market is bearish right now. the market is trading at 0.618 fib level, which can be a good support point. Verdict : Sideways Plan of action: Sell 51500 CE and Sell 51500 PE (Hedge position) adjust according to the price action on given levels.
NSE:BANKNIFTY
by finnova_
BankNifty Intraday Support & Resistance Levels for 24.12.2024On Monday, BankNifty opened with a gap-up, touching a low of 51,030.40 before climbing to a high of 51,417.35. It closed positively at 51,317.60, gaining 558 points. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is negative. Demand/Support Zones Near Demand/Support Zone (15m): 50,688 - 50,909 Near Demand/Support Zone (Daily): 49,787.10 - 50,983.50 (tested) Far Support Level: 49,282.64 (61.8% FIBO retracement) Supply/Resistance Zones Near Supply/Resistance Zone (125m): 52,010.65 - 52,368.30 Far Supply/Resistance Zone (125m): 52,709.40 - 52,911.10 Far Supply/Resistance Zone (Weekly): 53,741.40 - 54,467.35 (tested) Outlook As expected, BankNifty showed bullish momentum after entering the Daily Demand Zone on Friday and its oversold condition. If the Daily Demand Zone support holds, we may witness further upside movement toward 52,000 or even 52,700 in the coming days.
NSE:BANKNIFTY
by PriteshPalan
#Banknifty directions and levels for December 23rd.Current View: The current view suggests that if the market opens with a gap-up of less than 200 points and then declines initially, we can expect a slight further correction due to some sub-waves bending. However, if this occurs, the minor demand zone will act as strong support. Alternate View: The alternate view suggests that if the gap-up opens with more than 300 points and sustains, then the pullback could continue to the 38% level, with some consolidation as we discussed. This pullback could be interpreted as a 4th wave.
NSE:BANKNIFTY
by Manickamtraders
Nifty Trading Strategy for 23rd December 2024.Nifty Trading Strategy Key Levels: Buy Above: The high of the 15-minute candle that closes above 23,740 Sell Below: The low of the 15-minute candle that closes below 23,440 Targets: Upside Targets: 23,825, 23,925, 24,020 Downside Targets: 23,320, 23,230, 23,100 Strategy Details: Buy Signal: Enter a buy position above the high of the 15-minute candle that closes above 23,740, aiming for targets of 23,825, 23,925, and 24,020. Sell Signal: Enter a sell position below the low of the 15-minute candle that closes below 23,440, aiming for targets of 23,320, 23,230, and 23,100. Trailing Stop-Loss: Use a trailing stop-loss to manage risk and protect your capital. Book Profits: Regularly book profits at the specified resistance and support levels. Additional Tips: Monitoring: Continuously monitor the 15-minute chart for clear buy or sell signals. Risk Management: Always use stop-loss orders to manage risk and protect your capital. Market Conditions: Stay updated on market news and events that could impact Nifty. This strategy provides a structured approach for trading Nifty, ensuring clear buy and sell signals along with defined targets. I am not SEBI Registered.
NSE:NIFTY
by ramkkyy
BankNifty Intraday Support & Resistance Levels for 23.12.2024On Friday, BankNifty opened with a gap-down, climbing to a high of 51,629 before plummeting nearly 1,000 points to a day low of 50,609.35, entering the Daily Demand Zone. It closed negative for the 4th straight session at 50,759.20, losing 816 points. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) has turned negative. Demand/Support Zones Near Demand/Support Zone (Daily): 49,787.10 - 50,983.50 (current price inside the zone) Far Support Level: 49,282.64 (61.8% FIBO retracement) Supply/Resistance Zones Near Supply/Resistance Zone (125m): 52,010.65 - 52,368.30 Far Supply/Resistance Zone (125m): 52,709.40 - 52,911.10 Far Supply/Resistance Zone (Weekly): 53,741.40 - 54,467.35 (tested) Outlook After shedding almost 3,000 points in the past week, BankNifty has entered an oversold zone on the 75m timeframe and closed inside the Daily Demand Zone. A bounce-back is possible unless this critical zone is breached.
NSE:BANKNIFTY
by PriteshPalan
Banknifty : Head n Shoulder Pattern (Preparing for a big Fall ?)Banknifty is showing resistance at 53700 n fall from there. a possible Head n Shoulder Pattern is emerging. Banknifty might hold the lead in fall in capital market. do not take positions in banking sector unless it closes above 53700. closing above it will move very higher within few weeks Put Stoploss on closing basis. (In Trading Time it may go above/below stoploss But closing price is most important). These are levels are generated on the basis on Fibonacci Series NOTE : I am not SEBI registered advisor in capital market. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Please understand Risk in trading before taking any trade with your financial consult. I am only sharing my knowledge it may be right or sometimes wrong so I am not liable for any loss. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thank you.
NSE:BANKNIFTYShort
by maneeshaggarwal
1
Gap pe GapThe BankNifty on the daily charts has closed the erstwhile rising gap with a recent falling gap. In the last five trading sessions, the index is down close to 5% with a proper sequence of lower low and lower high. Looking at this recent sell-off, it seems like we are all set for a re-test of a broad support zone within (49,600-50,400) marked by the blue box. This blue zone for the BankNifty has been a solid range of support since early August 2024. And we can see how many times in the recent past the index has bounced up from this zone. I have also plotted my favourite Fibonacci retracement duo, which comes close to (50,650-50,750). The current price & momentum state does not offer us any reason to go long unless you prefer to play a blind hand. We should look closely at the index once these perceived support levels get tested. And if we get a bounce back from any of these levels, evaluate which banking stock is leading that move. Do feel free to share your thoughts. Till then, Trade Well.
NSE:BANKNIFTY
by Abhijit_Paul
#Banknifty directions and levels for December 20th.Good morning, friends! 🌞 Here are the market directions and levels for December 20th. Market Overview: Both the global and local markets are maintaining a bearish sentiment. Today, the market may open with a slight gap-down start, as the Nifty is indicating a negative 80 points at 8:00 AM. In the previous session, both Nifty and Bank Nifty experienced a minor pullback after the long gap-down. Although the structure remains bearish, we can expect a continuation only if it breaks the previous day's low with solid movement. If this happens, we can anticipate a target of 78% in the minor swing. On the other hand, if the market initially pulls back without breaking yesterday's low, or if it finds support at the immediate support level with gradual movements, then we can expect a pullback of 23% to 38%. This is the basic structure. Otherwise, we can follow the same sentiment that we discussed in the previous session, as nothing has changed.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 20.12.2024On Thursday, BankNifty opened with a significant gap-down, dropping to a low of 51263.75, entering the 125m Demand Zone and taking support near the 61.8% Fibonacci retracement level. It managed a slight recovery, reaching a high of 51789.85, but closed negative for the third consecutive session at 51575.70, losing 563 points. The Weekly Trend (50 SMA) has turned sideways from positive, while the Daily Trend (50 SMA) remains sideways. Demand/Support Zones Near Support: 51353 (61.8% Fibonacci retracement level) Near Demand/Support Zone (125m): 50898.75 - 51271.50 (tested) Far Demand/Support Zone (Daily): 49787.10 - 50983.50 Supply/Resistance Zones Near Supply/Resistance Zone (125m): 52709.40 - 52911.10 Near Supply/Resistance Zone (15m): 53159.20 - 53276.55 Far Supply/Resistance Zone (30m): 53489.70 - 53675.05 Far Supply/Resistance Zone (Weekly): 53741.40 - 54467.35 (tested) Key Insights BankNifty continues to hover near critical support levels, and a break below 51353 could push it further into the Daily Demand Zone. Resistance remains strong at 53000+ levels.
NSE:BANKNIFTY
by PriteshPalan
Trading Strategy for Nifty for 20th December 2024Trading Strategy for Nifty (15-Minute Time Frame) Key Levels: Buy Above: The high of the 15-minute candle which closes above 24,010 Sell Below: The low of the 15-minute candle which closes below 23,868 Targets: Upside Targets: 24,075, 24,125 Downside Targets: 23,825, 23,775 Strategy Details: Buy Signal: Enter a buy position above the high of the 15-minute candle that closes above 24,010, aiming for targets of 24,075 and 24,125. Sell Signal: Enter a sell position below the low of the 15-minute candle that closes below 23,868, aiming for targets of 23,825 and 23,775. Trailing Stop-Loss: Use a trailing stop-loss to manage risk and protect your capital. Book Profits: Regularly book profits at the specified resistance and support levels. Additional Tips: Monitoring: Continuously monitor the 15-minute chart for clear buy or sell signals. Risk Management: Always use stop-loss orders to manage risk and protect your capital. Market Conditions: Stay updated on market news and events that could impact Nifty. Disclaimer: I am not SEBI registered. This analysis is for informational and educational purposes only. Please consult with a certified financial advisor before making any trading decisions.
NSE:NIFTY
by ramkkyy
BANKNIFTY prediction for 29 Dec 24As we discussed yesterday, the market opened at -500 points and spent whole days sideways volatile moment. If we look at the chart now: The market is trading at 1H-TF 0.618 fib level, which is a good point to support. It also did hold today nicely. Support levels : 51138, 50719. Resistance levels : 52075, 52378, and 52833 . If we look at the OI data: PCR = 0.5, which has decreased from 0.9, shows bearish market behavior. The market has good CE and PE writing at 51500, which is going to provide maximum pain. On higher levels, the market has good CE writing at 52000 and 52500, which is going to provide a very good resistance point. On Lover, levels 51500 and 51000 have good PE writing, which is going to provide good support. I have neutral behavior in the market. Reason: Price < EMAs shows bearish market structure. PCR = 0.5 shows that the market is bearish. RSI < 40 shows the strength of a weak bull. Price < VWAP shows the market is bearish right now. the market is trading at 0.618 fib level, which can be a good support point. Verdict : Neutral Plan of action: Sell 51500 CE and Sell 51500 PE (Hedge position) adjust according to the price action on given levels.
NSE:BANKNIFTY
by finnova_
Bank Nifty Under Bearish Radar: 50,000 in FocusAfter weeks of strong bullish momentum, Bank Nifty is now showing signs of bearish price action. The index faces selling pressure, likely due to profit booking and weak sentiment near recent highs. Key support is seen around the 50,000 level, which could act as a critical zone for buyers to step in. However, with monthly options expiry approaching, volatility is expected to remain high, potentially leading to exaggerated moves. Key Levels to Watch: • Resistance: 52,500–53,000 • Support: 50,000 If 50,000 holds, we may see a rebound post-expiry, but a decisive break below this level could trigger further downside. Keep an eye on global cues, sectoral strength, and institutional activity for directional confirmation. Strategy: • Short-term Bears: Look for shorting opportunities below 50,000 with strict stop losses. • Swing Traders: Wait for a bounce or reversal pattern near support for long opportunities. • Options Traders: Use neutral strategies like straddles or strangles to capitalize on volatility. Trade safe, and always manage your risk effectively.
NSE:BANKNIFTYShort
by gigaalgo
#Banknifty directions and levels for December 19th.Good morning, friends! 🌞 Here are the market directions and levels for December 19th. Market Overview: After the Fed rate cut, the Dow Jones fell drastically and ended with a negative change of 2.5%. This also affected the Nifty. Therefore, today the market may open with a significant gap-down, indicating that the Nifty is expected to start 330 points lower. The global sentiment suggests there is a bearish bias. If you look at the charts from a broader perspective, the Nifty is showing a negative trend, while the Bank Nifty appears to be range-bound. Thus, both indices are displaying slightly different biases. However, my expectation is that, even though the Bank Nifty has a range-bound structure, it could reach a minimum correction of 78% in the minor swing. More or less, the current trend indicates a negative outlook. If the gap-down sustains today, we can expect a continuation of the correction with some consolidation. A reversal could be considered if there is a breakout at the EMA 20 or the 38% Fibonacci level in the minor swing. Until these factors occur, the trend could remain bearish. Additionally, I checked the volume profile and EMA 200 for long-term trend projections. Both the Nifty and Bank Nifty have yet to break the EMA 200, which means the higher degree trend is still bullish until it breaks that level. However, the volume profile is showing initial indications of a reversal in the Nifty, while the Bank Nifty has not yet shown this because the 51,500 level (in futures contracts) is providing good support based on the volume profile. Conclusion: There is no clear direction yet from the combination of the Nifty and Bank Nifty charts. Therefore, we should approach this correction as a minor trend only.
NSE:BANKNIFTY
by Manickamtraders
Nifty Trading Strategy for 19th December 2024Nifty Trading Strategy Key Levels: Buy Above: The high of the 15-minute candle that closes above 24,315 Sell Below: The low of the 15-minute candle that closes below 24,125 Targets: Upside Targets: 24,444, 24,533 Downside Targets: 24,010, 23,950, 23,850 Strategy Details: Buy Signal: Enter a buy position above the high of the 15-minute candle that closes above 24,315, aiming for targets of 24,444 and 24,533. Sell Signal: Enter a sell position below the low of the 15-minute candle that closes below 24,125, aiming for targets of 24,010, 23,950, and 23,850. Additional Tips: Monitoring: Continuously monitor the 15-minute chart for clear buy or sell signals. Risk Management: Always use stop-loss orders to manage risk and protect your capital. Market Conditions: Stay updated on market news and events that could impact Nifty. Disclaimer: I am not SEBI registered. This analysis is for informational and educational purposes only. Please consult with a certified financial advisor before making any trading decisions.
NSE:NIFTY
by ramkkyy
BankNifty Intraday Support & Resistance Levels for 19.12.2024On Wednesday, BankNifty opened negative, reached a high of 52827.60, but slipped to a low of 52010.65, entering the Daily Demand Zone. It ended the day at 52139.55, down by 695 points, marking its second consecutive losing session. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) has shifted to sideways. Demand/Support Zones Near Demand/Support Zone (Daily): 51693.95 - 52197.25 (current price inside this zone) Far Support: 51353 (61.8% Fibonacci level) Far Demand/Support Zone (125m): 50898.75 - 51271.50 Far Demand/Support Zone (Daily): 49787.10 - 50983.50 Supply/Resistance Zones Near Supply/Resistance Zone (125m): 52709.40 - 52911.10 Near Supply/Resistance Zone (15m): 53159.20 - 53276.55 Far Supply/Resistance Zone (30m): 53489.70 - 53675.05 Far Supply/Resistance Zone (Weekly): 53741.40 - 54467.35 (tested)
NSE:BANKNIFTY
by PriteshPalan
Nifty Trading Strategy for 18th December 2024Nifty Trading Strategy Key Levels: Buy Above: The high of the candle which closes above 24,425 on a one-hour chart Sell Below: The low of the candle which closes below 24,245 on a one-hour chart Strategy Details: Buy Signal: Enter a buy position above the high of the candle that closes above 24,425 on a one-hour time frame. Sell Signal: Enter a sell position below the low of the candle that closes below 24,245 on a one-hour time frame. Gap Down Risk Strategy: If the Market Opens Lower: Around 24,200-24,240 levels Buy Signal: Enter a buy position with a stop-loss of 24,175 Additional Tips: Monitoring: Continuously monitor the one-hour chart for clear buy or sell signals. Risk Management: Always use stop-loss orders to manage risk and protect your capital. Market Conditions: Stay updated on market news and events that could impact Nifty. Disclaimer: I am not SEBI registered. This analysis is for informational and educational purposes only. Please consult with a certified financial advisor before making any trading decisions.
NSE:NIFTY
by ramkkyy
BankNifty Intraday Support & Resistance Levels for 18.12.2024On Tuesday, BankNifty opened negative, hit a high of 53515.70, and dropped sharply to a low of 52709.40. It closed flat at 52834.80, losing 746 points over the previous close. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain positive. Demand/Support Zones Near Demand/Support Zone (75m): 52264.55 - 52665.15 Far Demand/Support Zone (Daily): 51693.95 - 52197.25 Far Demand/Support Zone (125m): 51693.95 - 51906.90 Supply/Resistance Zones Near Supply/Resistance Zone (15m): 53159.20 - 53276.55 Near Supply/Resistance Zone (30m): 53489.70 - 53675.05 Far Supply/Resistance Zone (Weekly): 53741.40 - 54467.35 (tested) Key Insights BankNifty is oscillating between key support and resistance levels. Immediate support lies in the 75m Demand Zone at 52265 - 52665, while resistance is seen in the 30m Supply Zone at 53490 - 53675. A decisive move beyond these levels could provide clarity on the next trend. Stay focused and plan your trades wisely!
NSE:BANKNIFTY
by PriteshPalan
EMUDHRA LTD highlights a breakout from from a consolidation zone1. Trend Overview The stock appears to be consolidating after a prolonged Uptrend Current levels (960) suggest the stock is stabilizing near its life time high levels. 2. Key Levels Support Levels: 900 This zone has acted as a psychological and technical support level, holding the recent consolidation movement. Resistance Levels: 970 A small round bottom and closing above this level would confirm a shift to a bullish trend. 3. RSI (Relative Strength Index) The RSI at 69 This indicates a neutral stance with a bullish bias. It shows the stock is neither overbought nor oversold. 4. Volume Analysis Moderate Volume: The current volume shows a significant increase, which is crucial for confirming a breakout. Watch for a volume spike near resistance levels (970) to validate a bullish move. 5. Patterns and Insights Consolidation Phase+ Rounding bottom The price is trading sideways after the recent uptrend, suggesting accumulation. Potential Breakout: A Closing above 970 with strong volume could indicate the continue of a bullish trend. Conclusion The stock is currently in a consolidation phase, awaiting a clear breakout. Traders should focus on the 970 resistance and 900 support zones to determine the next directional move. Disclaimer - The information provided herein is for educational purposes only.
NSE:EMUDHRALong
by Darshilp7