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BANKNIFTY

BANKNIFTY Intraday Trade Setup For 9 Jul 2024BANKNIFTY Intraday Trade Setup For 9 Jul 2024 Bullish-Above 52710 Invalid-Below 52600 T- 53350+ Bearish-Below 52240 Invalid-Above 52350 T- 51680 BANKNIFTY has closed on bearish note with 0.45% cut today. Although it was bearish, nothing triggered as per trade setup and traded inside plotted support and resistance zone. So we will simply use today's range to trade tomorrow on breakout. 52710 and 52240 are levels to watch out for breakout. Since today's daily candle is a spinning top which is a indecision sign so we need to be neutral and not biased. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 52710 then we will long for the target of 53350+ For selling we need a 15 Min candle close below 52240. T- 51680. 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 prediction for tomorrow 8 July 24As we discussed, BANKNIFTY opened a gap-down and gave a nice bearish momentum to the downside. If we look at the chart now: The market is trading at the support trendline and also took a pullback to the upside in the last hour. The market is also taking resistance at 50-EMA. It might give either side momentum. There can be 2 cases as it's trading at the terminal point. Case 1 : If it opens up, it can continue bullish momentum. Case 2 : if it opens a gap-down to support the trendline, it might continue bearish momentum till 200-EMA. Support levels: 52385, 52081, and 200 EMA Resistance levels: 52827, 53500 If we look at the OI data: PCR = 0.71, which shows a neutral behavior in the market. The market can be seen as very volatile between 52500 and 53000. There is good PE writing at 52500 and 52000, which is going to provide good support. However, 53000, 53100, and 53200 have very good CE writing, which is going to provide a good resistance to the upside. I am expecting the market to be Case 1 : Take support here and again retest the upper resistance trendline. Case 2 : If it breaks to the downside, it can give a bearish target till 200 EMA. Reason: RSI < 40-60; shows market sideways structure. EMA(200) < Price < EMA(13,50) shows bearishness. If it breaks, the support trendline can give targets till 200-EMA. PCR = 0.71 shows that the market is neutral. Price < VWAP shows a bearish market structure. Verdict: Neutral Plan of action: The morning 15-minute direction will determine the market direction. Once the direction is confirmed, make the position according to case 1 or case 2 as provided.
NSE:BANKNIFTY
by finnova_
1
#Banknifty directions and levels for July 8thThe Bank Nifty structure differs from Nifty, but the sentiment is the same. So, if the market opens with a gap-down and sustains, we can expect a minimum of 52,511 to 52,385. After that, if it consolidates or breaks, then the correction will likely continue, and we can expect the next target to be the swing low to the minor demand zone. On the other hand, if it rejects around 52,385, then we can expect a range market, meaning the market may reach the previous high again. Alternatively, if the initial market takes a pullback, then it may reach a minimum of 52,765 to 61% with minor consolidations.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 08.07.2024On Friday, BankNifty opened gap-down, found support at the 125m demand zone (51,996 - 52,379) mentioned in the last post, and bounced back but did not fully recover due to a lack of buying pressure, closing 443 points down at 52,660.35. The weekly and daily trends (50 SMA) remain positive. Support Levels: Near Support/Demand Zone (125m): 51,996 - 52,379 Far Support/Demand Zone (75m): 51,510 - 51,784 Major Support/Demand Zone (Daily): 51,138 - 51,934 Resistance Levels: Near Small Supply/Resistance Zone (30m): 53,064 - 53,188
NSE:BANKNIFTY
by PriteshPal
BANKNIFTY Intraday Trade Setup For 9 Jul 2024BANKNIFTY Intraday Trade Setup For 9 Jul 2024 Bullish-Above 52820 Invalid-Below 52710 T- 53400+ Bearish-Below 52250 Invalid-Above 52360 T- 51680 BANKNIFTY has closed with a very small gain of 0.61% gain last week. It has formed a shooting star candle in weekly TF and its low is 51990 , this level is also a hourly swing low. Below its low, shooting star will be active and a bearish grip can be seen in the coming days. 52820 and 52250 will be levels for Monday to watch out for breakout. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 52820 then we will long for the target of 53400+. For selling we need a 15 Min candle close below 52250. T- 51680. 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
2
HDFC Bank Tanks, Drags Bank Nifty & Nifty Ends at a New ATHNifty 24324/+0.09%/5-7-24 The Open Price was -89 (83) points compared to the closing price of the previous session, giving a negative start to the day. Nifty made a low at 24169 )24281) which is a downward shift to the lower base and is not a positive sign . The Close Price was 111 (-68) as compared to the open price which is a positive sign. The Close - High difference was 39 (99) points which is also a positive sign - Nifty jumped up sharply in the last half an hour. Nifty’s range for the day was 194 (120) points. Nifty made a lower high, a lower low, and a higher close. The price action is bullish. Bank Nifty 52660/-0.83%/5-7-24 The Open Price was 392 (268) points compared to the cloning price of the previous session giving a positive start to the day. Bank Nifty made a low at 52290 (52816) which is a significant downward shift to the lower base and a negative sign. The Close Price was 100 (-254) points from the open price which is a positive sign. The Close - High difference was 158 (254) points and this mainly due to the fact that the high was hit at the open itself and there was late recovery in the index. Bank Nifty’s range for the day was 528 (542) points. Bank Nifty made a lower high, a lower low, and a lower close. The price action is tentatively bullish. Insights for 5-7-24 India Vix ended at 12.70/-1.24%. Nifty Lifters 38 Reliance, SBI, and LT. Nifty Draggers 52 HDFC Bank, Titan, and M&M. Bank Nifty Lifters 324 SBI, Kotak Bank, and Axis Bank. Bank Nifty Draggers 832 HDFC Bank In yesterday’s post I had mentioned that holding on to 52800 on a closing basis is very crucial for Bank Nifty. And the session’s high was 52817. Bank Nifty was under extreme pressure as HDFC Bank tanked almost 5% and contributed over 800 points fall in the index. Bank Nifty was able to recover in the last half an hour but it was not enough to take it above 52800. On the other hand, Nifty made a sharp recovery in the last half an hour of price action and ended at an All Time High close. This was possible mainly on account of short-covering in Infosys and HDFC Bank. The indices were volatile, but the India Vix is not reflecting the same and it ended with a decline. FIIs bought 1241 Crs DIIs Sold 1651 Crs Net -410 Crs What May Happen Next Week The next week may start seeing Q1 results getting released so the indices are likely to swing in line with what the traders/investors interpret of the numbers. For Bank Nifty, 52800 is a key resistance level and unless it opens gap up, and HDFC Bank does not fall further, the index may stage a recovery towards 53000. Nifty has shown resilience around 24200 and it appears that there are a good number of buyers around that level. So as long as it trades above 24200-250, the up move is more likely to continue.
NSE:DAVANGERE
by AVENUESOFINVESTMENT
BankNifty Intraday Support & Resistance Levels for 05.07.2024BankNifty opened gap-up and made a new all-time high of 53,357.70 but stayed within the previous day's range, ending flat with just a 14-point gain. The weekly and daily trends (50 SMA) remain positive. Support Levels: Near 125m Support/Demand Zone: 51,996 - 52,379 Near 75m Support/Demand Zone: 51,510 - 51,784 Major Support/Demand Zone (Daily): 51,138 - 51,934 Resistance Levels: Near Small Supply/Resistance Zone: 53,139 - 53,222 (tested yesterday) Currently, there are no additional supply zones seen on the chart.
NSE:BANKNIFTY
by PriteshPal
BANKNIFTY Intraday Trade Setup For 5 Jul 2024BANKNIFTY Intraday Trade Setup For 5 Jul 2024 Bullish-Above 53360 Invalid-Below 53250 T- 53835 Bearish-Below 52800 Invalid-Above 52910 T- 52250 BANKNIFTY has closed on an absolute flat note today. Nothing triggered as per trade setup, however both plotted support and resistance levels were respected. Tomorrow we will keep neutral view between 53360 and 52800. One should wait for breakout in order to trade directional. 52800 is a major intraday support which was validated today, break of which will trigger a profit booking move. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 53360 then we will long for the target of 53835. For selling we need a 15 Min candle close below 52800. T- 52250. 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
6
Bank Nifty 05-07-2024 AnalysisHello Traders, Welcome to SriTrader5121 ______________________________________ Overall view for the day Buy - with the support of Important_level Sell - with the rejection of Important_level Major Support - Around 520## Major Resistance - Around 532## See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – SriTrader5121 _______________________________________ Rules to follow... 1) Wait for confirmation. 2) See the price action at our zones. 3) Trade with Strict Stop Loss. 4) Trade with Small Quantity. 5) Take entries based on Support & Resistance Zones. _____________________________________________________ Please take the trade according to the zones marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries based on your own analysis and risk. This is for education purposes and a helping hand to learn trading in the live market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels / Zones. So one can book profit / loss based on your risk-reward or considering price action at the respective zone and how it works near that zone. I hope you all like my analysis. Follow me to get regular updates. Please do share your thoughts in the comment section. Please Hit a LIKE, it motivates me to do analysis and share with your trading friends.
NSE:BANKNIFTY
by SriTrader5121
#Banknifty directions and levels for July 4th.Bank Nifty has the bullish sentiment and made a new high in the previous session. If you look at the structure, you can see many patterns there, such as the flag pattern, cup & handle pattern, and cypher pattern. But here also, the market suggests that if it rejects around the immediate resistance or if the gap-up doesn't sustain, then we can expect a 23% to 38% retracement in the minor swing. After that, if it finds support at either the 23% or 38% levels, then we can expect consolidation followed by a rally continuation. A correction will occur only if it breaks the 38% Fibonacci level. If it breaks, we can expect the next targets to be 50% and 78%. Alternatively, if the gap-up sustains or if it consolidates around the immediate resistance level, then the rally will continue further.
NSE:BANKNIFTY
by Manickamtraders
BANK NIFTY MATHEMATICAL LEVELSThese Levels are based on purely mathematical calculations. Validity of levels are upto expiry of current week. How to use these levels :- * Mark these levels on your chart. * Safe players Can use 15 min Time Frame * Risky Traders Can use 5 min. Time Frame * When Candle give Breakout / Breakdown to any level we have to enter with High/Low of that breaking candle. * Targets will be another level marked on chart * Stop Loss will be Low/High of that Breaking Candle. * Trail your SL with every candle. * Avoid Big Candles as SL will be high then. * This is one of the Best Risk Reward Setup. For Educational purpose only
NSE:BANKNIFTY
by YASHSINCE1995