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BANKNIFTY

#Banknifty directions and levels for June19th.BankNifty has shown a solid breakout after the triangle structure. According to wave analysis, the triangle could be the 4th wave, and the breakout pullback could be the 5th wave, which is also a distribution wave. However, there are two subwaves pending, so if the market sustains the gap-up, we can expect a pullback rally with minor consolidation around the supply zone. This is the basic structure. Alternatively, if the market faces a sharp rejection, we can initially expect a minimum of 38% correction in the minor swing. After that, if it breaks the 38% level, it may turn into a correction, or if it finds support at the 38% Fibonacci level, the market may consolidate.
NSE:BANKNIFTY
by Manickamtraders
3
BankNifty Intraday Support & Resistance Levels for 19.06.2024For the second consecutive day, BankNifty closed above the psychological level of 50,000. The weekly trend (50 SMA) is positive, and the daily trend is sideways. Intraday Support Levels: Near Support/Demand Zone (15m): 50,339 - 50,403 Far Small Support/Demand Zone (15m): 50,186 - 50,266 Far Support/Demand Zone (15m): 49,693 - 49,779 Intraday Resistance Levels: Near Resistance/Supply Zone (125m): 50,619 - 51,133.20 Major Resistance/Supply Zone (Daily): 50,092 - 51,133.20
NSE:BANKNIFTY
by PriteshPal
BANKNIFTY Intraday Trade Setup For 19 Jun 2024BANKNIFTY Intraday Trade Setup For 19 Jun 2024 Bullish-Above 50600 Invalid-Below 50490 T- 51160-200 Bearish-Below 50120 Invalid-Above 50230 T- 49650 BANKNIFTY has closed on a bullish note with 0.88% gain today. After couple of days it broke narrow hourly range in the upside. Buy triggered as per trade setup above 50260 and gave a move till 50560, good intraday gain. Tomorrow once again we may a good upside move if index opens below 50560 and then breaks 50600, after a pullback before breakout. 50120 will be an intra support. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 50600 then we will long for the target of 51160. For selling we need a 15 Min candle close below 50120. 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 19-06-2024 AnalysisHello Traders, Welcome to SriTrader5121 ______________________________________ Overall view for the day Buy - with the support of Impotyent_level Sell - with the rejection of Impotyent_level Major Support - Around 502## Major Resistance - Around 505## 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 prediction for tomorrow 19 Jun 24 As we discussed, BANKNIFTY could not break the zone to the downside; instead, after a heavy bearish candle, it ended strong bullish with huge volatility. If we look at the chart now: The market took support at 50 EMA and gave a great bullish momentum. The market seems bullish right now. The market is moving in an uptrending channel right now. One can make a bullish entry after retracement. The market is going to be bullish in the upside channel and bearish in the downside channel. Support levels: 50206, 49704, and 49040 resistance levels: 50909 and 50126 If we look at the OI data: PCR = 1.34, which has increased from 0.94, shows a Bullish sign in the market. 50500 is working as max-pain. There has been a huge CE unwinding at lower levels today. Fresh CE writing is significantly higher on lower levels. I am expecting the market: Case 1 : Bullish in upside trending channel. Case 2 : Bearish in the lower side of the channel. Reason: RSI 72 shows a Bullish Structure. Price > EMA(13, 50, 200), which indicates the bull market for tomorrow session. PCR = 1.34, which has increased from 0.94, shows a Strong bullish sign in the market. Price> VWAP shows a bull market structure. Verdict: Bullish Case 1 : Bullish in upside trending channel. Case 2 : Bearish in the lower side of the channel. Plan of action: Case 1 : Bullish: Sell 50500 CE (Hedge it with 20/- premium CE) Case 2 : Bearish: Sell 50500 PE (Hedge it with 20/- premium PE)
NSE:BANKNIFTYLong
by finnova_
BankNifty Support & Resistance Levels for 18.06.2024BankNifty closed at the psychological level of 50,000 after testing the near-demand zone mentioned in the previous post. The weekly trend (50 SMA) is positive, while the daily trend is sideways. Support Levels: Near Support/Demand Zone (15m): 49,693 - 49,778 Far Small Support/Demand Zone (15m): 49,225 - 49,451 Far Support Zone (15m): 48,801 - 49,055 (tested multiple times) Resistance Levels: Major Resistance/Supply Zone (Daily): 50,092 - 51,133.20
NSE:BANKNIFTY
by PriteshPal
Bank Nifty 18-06-2024 AnalysisHello Traders, Welcome to SriTrader5121 ______________________________________ Overall view for the day Buy - with the support of s1 Sell - with the rejection of s1 Major Support - Around 497## Major Resistance - Around 502## 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
FinNifty weekly expiry analysis for 18/06/2024.FinNifty has been trading in a rising wedge pattern in the last week and has closed around the resistance levels. Tomorrow is the weekly expiry of the index and chances of a trending move is there as the market has consolidated in a narrow range. In the last trading session, finnifty has consolidated in a 40 points range after the hour of trading. Markets were close for 3 days and probability of a gap up/down are high. If there is a flat opening in the range, break out or break down can be traded as there the market scenario. If there is a gap up opening, let the market retest the resistance levels (now acting as a support zone) and entry once the the market cross the day high can be made. Support levels :- 22280, 22190 Resistance :- 22500, 22656 The VIX has cooled down and the option premiums are cheap. Watch for a trending market and adhere to the trailing stop loss strategy to capture the trend. Wait for the price action near the levels before entering the market.
NSE:CNXFINANCE
by Mambotrade
BANKNIFTY Intraday Trade Setup For 17 Jun 2024BANKNIFTY Intraday Trade Setup For 17 Jun 2024 Bullish-Above 50260 Invalid-Below 50150 T- 50750 Bearish-Below 49690 Invalid-Above 49800 T- 49200 BANKNIFTY has closed on with a slight gain of 0.41% gain last week. We already discussed that probability of an inside candle is very high last week, inside candle represents contraction. Next week 49500 looks an important level for a downside trigger in short term. Below 49500 index may start a bearish journey in daily TF. Index has formed a stiff ceiling @ 50250 so above this we may witness a bullish breakout move. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 50260 then we will long for the target of 50750. For selling we need a 15 Min candle close below 49690. T- 49200. 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 (Monday) 17 JunAs we discussed in the morning, BANKNIFTY ended up sideways. If we look at the chart now: The market is indecisive, as neither bulls nor bears are able to move the market in a direction. The market is taking support at 50 EMA(15 min TF). If it breaks to the downside, we might get a good bearish fall til 200 EMA. Support levels: 49929, 49704, and 200-EMA resistance levels: 50086 and 50213 If we look at the OI data: PCR = 0.94, which has increased from 0.74, shows a Bullish sign in the market. 50000 is working as max-pain. On the Lower side, there is significantly more PE writing than CE writing at higher levels, as can be seen in the attached image. I am expecting the market: Case 1: Sideways in range 49229 - 50086. Case 2: Bearish if it breaks 49229 to the downside. Reason: RSI 46-60 shows a sideways structure. Price < EMA(13) but greater than EMA(200), which indicates the market can correct itself till 200 EMA. PCR = 0.94, which has increased from 0.74, shows a mild bullish sign in the market. Price ~= VWAP shows an indecisive market structure. Verdict: Indecisive Case 1: Sideways in range 49929 - 50086. Case 2: Bearish if it breaks 49929 to the downside. Plan of action: Case 1 : Sideways: Sell 49900 PE & 50100 CE (Hedge it with 20/- premium options) Case 2 : Exit 49900 PE if it breaks to the downside.
NSE:BANKNIFTY
by finnova_
3
Banknifty prediction for today 14 JunAs we discussed yesterday, BankNifty spent on an up-trending channel and ended sideways. If we look at the chart now: The market is in the channel right now. If it breaks down to the downside, it will give a nice bearish momentum. Support levels: 49778, 49255, and 49052 resistance levels: 50102 and 50202 If we look at the OI data: PCR = 0.74, which has decreased from 0.87, shows a mild bearish sign in the market. There is no such max-pain, which means the market can easily achieve 49500. On the higher side, 50000 has very good CE writing, which is also at the psychological level. The market only has PE on 49000. The option chain seems fully bearish. VIX has also decreased significantly, which indicates volatility is being controlled. I am expecting the market: Case 1: Sideways in channel. Case 2: Bearish if it breaks the channel to the downside. Reason: RSI 46-60 shows a sideways structure. Price < EMA(13) but greater than EMA(200), which indicates the market can correct itself till 200 EMA. EMA Bearish crossover of EMA(13, 50). PCR = 0.74, which has decreased from 0.87, shows a mild bearish sign in the market. Price ~= VWAP shows an indecisive market structure. Verdict: Sideways in channel. Bearish if it breaks the channel to the downside. Plan of action: Case 1 : Sideways: Sell 49800 PE & 49900 CE (Hedge it with 20/- premium options) Case 2 : Exit 49900 PE if it breaks to the downside.
NSE:BANKNIFTYShort
by finnova_
3
BankNifty Support & Resistance Levels for 14.06.2024BankNifty opened with a gap-up at 50,179 yesterday, landing inside the 15m supply zone (50,129 - 50,227) mentioned previously. This caused selling pressure, leading to a close at almost the day's low of 49,846.70. The weekly trend (50 SMA) remains positive, while the daily trend is sideways. Support Levels: Near Support/Demand Zone (15m Tested): 49,728 - 49,860 (This zone has been tested multiple times) Far Small Support/Demand Zone (15m): 49,225 - 49,451 Far Support Zone (15m): 48,801 - 49,055 (This zone has been tested multiple times) Resistance Levels: Major Resistance/Supply Zone (Daily): 50,092 - 51,133.20 Note: Lower time frame tested zones are less reliable in terms of strength.
NSE:BANKNIFTY
by PriteshPal