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BANKNIFTY

Banknifty Long Levels Certainly! Let’s take a look at the recent levels for the BANKNIFTY index. Keep in mind that these levels are subject to change based on market conditions, so it’s essential to stay updated. Here are some key points: July 31 Levels: Price range: 51250 to 51900 Buy above: 51360 Stop loss: 51280 Targets: 51440, 51520, 51600, 51720, and 51800 Sell below: 51220 Stop loss: 51300 Targets: 51160 August 7 Levels: Price range: Support zone Buy above: 49860 Stop loss: 49780 Targets: 49940, 50020, 50100, 50220, and 50400 Sell below: 49640 Symmetric Triangle Targets Met: Bank Nifty successfully hit both targets from the recent symmetric triangle pattern within two days. Immediate support: 49,620 Immediate resistance: 50,420 and 50,700 Intraday Trade Setup for August 5, 2024: Bullish above: 51610 Invalid below: 51500 Targets: 52137 Bearish below: 51080 Invalid below: 51190 Targets: 50550 Bearish Divergence: The RSI reading on BNF shows bearish divergence, which may lead to a test of Fibonacci retracement levels around 49650.
NSE:BANKNIFTY
by Optionclub
Banknifty levels for Intraday Trader'sCertainly! Let’s take a look at the recent levels for BANKNIFTY, the index representing the banking sector in India. Keep in mind that these levels are subject to change based on market conditions, so it’s essential to stay updated. Here are some key data points and recent analysis for BANKNIFTY: TradingView Chart: Price Range (July 31): BANKNIFTY was moving within the range of 51,250 to 51,900. Pattern: Range Trend Strength: Normal Buy Above: 51,360 Stop Loss: 51,280 Targets: 51,440, 51,520, 51,600, 51,720, and 51,800. Sell Below: 51,220 Stop Loss: 51,300 Targets: 51,160 Google Finance Data: Previous Close: ₹50,119.00 Day’s Range: ₹49,829.60 - ₹50,440.75 52-Week Range: ₹42,105.40 - ₹53,357.70 TradingView Intraday Levels (August 6, 2024): Buy Above: 50,100 Stop Loss: 49,890 Targets: 50,250, 50,400, 50,550 Sell Below: 49,890 Stop Loss: 50,100 Targets: 49,700, 49,530, 49,290 No Trade Zone: 49,890 to 50,100 Previous Day High: 50,780 Previous Day Low: 49,700 EquityPandit Data: Today’s Low/High: ₹51,087.85 / ₹51,608.70 52-Week Low/High: ₹42,105.40 / ₹53,357.70 Remember that these levels are based on technical analysis and historical data.
NSE:BANKNIFTY
by Optionclub
PCR (PUT CALL RATIO) With Professionals The Put Call Ratio (PCR) is a tool in the stock market to understand how investors feel about a stock or the market's future. It compares the number of put options to call options traded. More puts traded mean investors expect prices to fall (bearish). More calls traded mean investors expect prices to rise (bullish). PCR is also considered as a contrarian indicator which helps traders not to get caught in the herd mood of the market. Based on the extreme PCR ratio, the trader might take a call to buy or sell against the prevailing mood of the market
NSE:BANKNIFTYEducation
by Optionclub
2
#Banknifty directions and levels for August 9th.Bank Nifty: Bank Nifty is also maintaining its consolidation. If the gap-up sustains and breaks the level of 50,468, then we can expect the next targets to be 50,688 and 50,823. > Here, we have the same sentiment as in Nifty: after the pullback, if it sharply rejects around the level of 50,823, the market may enter a correction phase. Targets are expected to range between 38% to 78% of the minor swing. > On the other hand, if it consolidates or breaks solidly above the level of 50,823 on the upside, then the rally will likely continue. The alternative scenario is if the gap-up doesn't sustain or if the market initially declines, then the range-bound market will likely continue.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 09.08.2024On Thursday, BankNifty entered the 15m Supply zone mentioned in the last post and fell 400 points from the top before closing at 50156.70. For the fourth consecutive day, BankNifty closed inside the Weekly Demand Zone (49530 - 50253). Weekly zones are considered strong, and if the low is not broken, we might see a bounce from this Weekly Demand Zone. The weekly trend (50 SMA) has turned sideways from positive, and the daily trend (50 SMA) is negative. Support Levels: Major Demand/Support Zone (Weekly): 49530 - 50253 (currently, the price is inside the zone) Far Support: 48858 level (61.8% FIBO Retracement level) Resistance Levels: Near Supply/Resistance Zone (15m): 50350 - 50441 Far Supply/Resistance Zone (15m): 51438 - 51583 (inside the 125m Supply Zone) Far Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 Note: As of writing this, GIFTNIFTY is trading 275 points positive, indicating we might see a gap-up opening, and the near 15m Supply zone might get violated.
NSE:BANKNIFTY
by PriteshPal
BANKNIFTY Intraday Trade Setup For 9 Aug 2024BANKNIFTY Intraday Trade Setup For 9 Aug 2024 Bullish-Above 50450 Invalid-Below 50340 T- 51000 Bearish-Below 49650 Invalid-Above 49760 T- 48750 BANKNIFTY has closed on a flat note today. We have formed a hourly range of of 50750 and 49650. Also if we draw trendlines in hourly TF then a triangle formation is in progress. 50700 and 49650 is the mother candle's high as inside candles have been formed in these last 2 sessions. 50450 and 49650 are intraday levels for tomorrow. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 50450 then we will long for the target of 51000 zone. For selling we need a 15 Min candle close below 49650. T- 48750. 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 Intraday Support & Resistance Levels for 08.08.2024On Wednesday, BankNifty opened gap up but did not enter the 15m Supply zone mentioned in the last post, so the near Supply zone remains the same. For the third consecutive day, BankNifty closed inside the Weekly Demand Zone (49530 - 50253). Weekly zones are considered strong, and if the low is not broken, we might see a bounce from this Weekly Demand Zone. The weekly trend (50 SMA) has turned sideways from positive, and the daily trend (50 SMA) is negative. Support Levels: Major Demand/Support Zone (Weekly): 49530 - 50253 (currently price is inside the zone) Far Support Level: 48858 (61.8% Fibonacci Retracement level) Resistance Levels: Near Supply/Resistance Zone (15m): 50337 - 50530 Near Supply/Resistance Zone (15m): 51438 - 51583 (inside the 75m Supply Zone) Far Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 Note: As of writing this, GIFTNIFTY is trading 180 points negative, indicating we might see a gap-down opening.
NSE:BANKNIFTY
by PriteshPal
BANKNIFTY Intraday Trade Setup For 9 Aug 2024BANKNIFTY Intraday Trade Setup For 9 Aug 2024 Bullish-Above 50300 Invalid-Below 50190 T- 50900 51450 Bearish-Below 49650 Invalid-Above 49760 T- 48800 BANKNIFTY has closed on a bullish note with 0.75% gain today. It opened with 1% gap up, directly at buy level and got rejected. Overall it was sideways within 500 points range. It has formed a Pinbar candle in daily TF so above 50300 we can expect good bullish reversal move. However overall view is still sell on rise, but now near some confluence zones like PRZ and golden Fib zones. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 50300 then we will long for the target of 50900. For selling we need a 15 Min candle close below 49650. T- 48750. 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 Intraday Support & Resistance Levels for 07.08.2024On Tuesday, BankNifty opened gap up but failed to sustain, falling below the previous day's low before closing at 49748.30. For the second consecutive day, BankNifty closed inside the Weekly Demand Zone (49530 - 50253). Weekly zones are considered strong, and if the low is not broken, we might see a bounce from the Weekly Demand Zone. The weekly trend (50 SMA) turned sideways from positive, and the daily trend (50 SMA) is now negative. Support Levels: Major Demand/Support Zone (Weekly): 49530 - 50253 (currently price is inside the zone) Resistance Levels: Near Supply/Resistance Zone (15m): 50337 - 50530 Near Supply/Resistance Zone (15m): 51438 - 51583 (inside the 125m Supply Zone) Far Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 Note: As of writing this, GIFTNIFTY is trading 250 points positive, indicating we might see a gap-up opening, and the near 15m Supply zone may get violated.
NSE:BANKNIFTY
by PriteshPal
#Banknifty directions and levels for August 7th. Even though the previous session opened with a gap-up, it didn’t sustain,BankNifty maintained their bearish bias. Today also the market may open with a minimum of 200 points positive. What about today? If this happens structurally, it could turn into a range market. Range market movements are usually difficult to predict. However, my expectation is that if the market opens with a gap-up and breaks the 38% level solidly, we can expect the next target at 50,468. After that, if it consolidates, the pullback will continue. On the other hand, if it rejects this level, the range market will likely continue. Alternatively, if the gap-up doesn’t sustain, it may consolidate within the previous day's range. In this variation, a correction is anticipated only if it falls below the previous low.
NSE:BANKNIFTY
by Manickamtraders
Banknifty is at a key support level—will it rebound? In recent months, the bank index has been on a remarkable upward trajectory, consistently achieving higher highs and higher lows. After reaching an all-time peak close to 53,350 (specifically at 50,358), the bank index experienced a correction. At present, the index is hovering around a significant support level of 49,750, which also aligns with the trendline support visible on the chart. There is a strong expectation that the bank index will bounce back from this point and resume its upward trend. However, if this support is broken, the next level to watch will be around 46,000 to 46,300. To regain its bullish momentum, the index must overcome the immediate resistance located between 53,000 and 53,350.
NSE:BANKNIFTY
by GoodluckCapital
BANKNIFTY Intraday Trade Setup For 7 Aug 2024BANKNIFTY Intraday Trade Setup For 7 Aug 2024 Bullish-Above 50260 Invalid-Below 50150 T- 50950 Bearish-Below 49650 Invalid-Above 49760 T- 48748 BANKNIFTY has closed on a bearish note once again and sell on rise approach worked well. Sell on rise means if there is a bounce then look for bearish reversal price structure in 5 Min TF to sell. It opened with a gap up directly near buy level.10 o'clock range broke downside below 50335 and fell till 49660. Tomorrow once again we will sell below 49650 on a flat opening. In case 50260 is broken in the upside then possibility of a short covering. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 50260 then we will long for the target of 50950. For selling we need a 15 Min candle close below 49650. T- 48748. 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 View 06-08-2024NSE:NIFTY Nifty has rebounded from 23,890 to 24,350, a gain of approximately 450 points. However, upon applying the Fibonacci retracement from 25,078 to 23,893, we observe that the 0.38 Fibonacci level coincides with the 24,350 zone. Notably, Nifty encountered selling pressure once again at this level. The market is currently experiencing significant selling pressure and a general sense of weakness. At present, there are two potential outcomes. 1. If Nifty decisively close below the 23890 zone, we can anticipate a potential decline towards the 23200 level in the near future. 2. In the event that the Nifty holds the 23890 zone and establishes a double bottom formation, there is a possibility of a market reversal or a range-bound movement between the 24400 and 23900 zones. Always respect SL & position sizing =================== Trade Secrets By Pratik =================== Disclaimer Not SEBI REGISTERED This is our personal view and this analysis is only for educational purposes Please consult your advisor before investing or trading You are solely responsible for any decisions you take on basis of our research
NSE:NIFTY
by Trade_Secrets_By_Pratik
#Banknifty directions and levels for August 6th.1.Basic Structure: As per the structure, there is no more pullback in this minor swing. So if the gap-up doesn’t sustain or if the initial market declines, we can expect minor consolidation between the previous low to 38% Fibonacci level to the upside. After that, if it breaks yesterday's low, then the correction will likely continue to the level of 49439. This is our basic structure. 2.Alternate View: The alternate view is similar to the consolidation, but this time we wouldn't expect a correction. Instead, we can expect pullback continuation if it breaks the 38% Fibonacci level to the upside again. If it happens, we can expect the pullback target to the level of 50%. Once if it rejects there, then we can expect correction. Simply, it's also a range market variation. 3.Price Action Scenario: The third scenario is taken from the price action. If the initial market takes a solid pullback and closes above the 38% Fibonacci level, then it may continue further to the level of 61% with minor consolidation. Do you want to realize if it is progressing in this variation? Just observe if it consolidates around the immediate resistance level or if it forms an inside bar, then it may continue the rally. These are my expectations for today. In my personal opinion, if the market enters consolidation, trading will become more challenging. If you choose to enter, reduce your position size. However, if you have a clear direction, you can trade more effectively.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 06.08.2024On Monday, BankNifty dropped to 49719 (day low) and entered the Weekly Demand/Support Zone mentioned in the last post. Weekly zones are considered strong, and if the low is not broken, we might see a bounce from the Weekly Demand Zone. The weekly trend (50 SMA) remains positive, but the daily trend (50 SMA) has now turned negative. Support Levels: Major Demand/Support Zone (Weekly): 49530 - 50253 Resistance Levels: Near Supply/Resistance Zone (75m): 51367 - 51609
NSE:BANKNIFTY
by PriteshPal