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BankNifty Intraday Levels Analysis 21st JuneHello Traders, Resistance Level : 1. Good Resistance Zone exists at 34700-800. 2. Strongest Resistance at 35000 . Support Level : 1. 34000 is Strongest Support Level . 2. Good Support at 34300. 3. 34500 is a good Support. Sideways Possibility: More Sideways below 34500 to 34700, if market opens below 34700 This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market. I hope you all like my analysis. Please do share your thoughts into comment section. Please hit the Follow button to get the regular analysis. Please give a like, it motivates me to do analysis and do share with your friends as well.
NSE:BANKNIFTY
by kiranrshinde
7
#BANKNIFTY - Complete 5 - 3 Elliot WaveWhat is Elliott Wave ? Elliott Wave theory is one of the most acknowledged and widely used forms of technical analysis. RN Elliott developed the theory after analyzing nearly 75 years of stock data, and Robert Prechter later popularized it. According to the Wave theory, the market trades in repetitive cycles, which Elliot primarily attributed to the emotions of investors (or the psychology of the masses at the time) as well as outside influences. Why it is appealing? The Elliot Wave theory proves that the upward and downward price swings caused by the collective psychology always reflect the same repetitive patterns. Elliot observed that all financial markets move in a zigzag formation, which he termed Wave cycles. With this theory, Elliot was able to analyze markets in greater depth by identifying the specific characteristics of wave patterns and was able to make detailed market predictions based on these patterns. This is what makes the Elliott Wave theory so appealing to traders as it provides them with a method to spot precise price points where the market is likely to reverse. In simpler words, Elliott came up with a system that enables traders to catch tops and bottoms. Basic Principals of the Theory The Elliott Wave theory states that the market is fractal in nature i.e. it forms the same patterns that are observed on larger degree charts on smaller timeframe as well, and that it can be used to predict future price movement. The theory states that it does not depend on the timeframe one analyzes as a similar price pattern is observed across all time frames. The theory claims that that market action among the participants produces wave patterns and trends, defined by Elliott as the physical sign of mass psychology. The complete cycle of the Elliot Wave development consists of eight waves that make up two phases: An impulse wave sub-divided into five waves and, A corrective wave sub-divided into three waves Price movement According to the theory, price movement in the direction of the main trend is defined as the impulse or motive phase, which unfolds in five waves. Three of those waves (1, 3, and 5) move in the direction of the underlying trend, while the two intervening waves (2 and 4) act as counter-trends or minor retracements within the phase. Wave 5’s up move is followed by a correction 3, which traders usually label as A, B, and C. The 5-3 wave pattern can be seen across all timeframes. The corrective phase consists of two waves (A and C) that move in the opposite direction of the motive phase, and an intervening retracement wave (B) that moves in the same direction of the motive phase. The 5-3 wave pattern establishes a complete Elliot wave cycle. The theory tends to get more complicated as more degrees of waves get added. The key to using the Elliot wave successfully lies in counting the waves correctly and identifying the wave in which the market is currently trading in. Rules of Elliot Wave Theory There are three main rules to the Elliot Wave theory that analysts must know. These rules apply only to the impulse phase First rule: Wave 2 cannot retrace more than 100% of Wave 1 i.e Low of wave 2 must not touch or break wave 1's Low. Second rule: Wave 3 cannot be the shortest among waves 1, 3, and 5 Third rule: Waves 1 and Wave 4 must not overlap i.e Wave 4's bottom must not break the high of wave 1. Guidelines There are numerous guidelines to this theory, but we will take a look at the most prominent ones. Unlike the three cardinal rules, these guidelines can be broken. They are: Guideline 1: When Wave 3 is the longest impulse wave, Wave 5 will approximately equal Wave 1 as shown in the figure above by highlighting about 8000pts. Guideline 2: The forms for Wave 2 and Wave 4 will alternate. If Wave 2 is a sharp correction, then Wave 4 will be a flat correction . If Wave 2 is flat, then Wave 4 will be sharp . Guideline 3: Sometimes, Wave 5 does not move beyond the end of Wave 3. This is known as truncation. Guideline 4: After a 5-wave impulse advance, corrections (a-b-c) usually end in the area of prior Wave 4 low i.e may be near 30000 Guideline 5: Wave 3 tends to be very long, sharp , and extended. Guideline 6: Waves 2 and 4 frequently bounce off Fibonacci retracement levels.
NSE:BANKNIFTY
by kiranrshinde
21
BankNifty Expiry Special 27/5/2021Hello Everyone, Hope you all are fit and fine ... Stay Safe and Trade safe...! As predicted in previous analysis, BnkNifty Open Up with small gap and was in Sideways rest of the day. Resistance Level : 1. 35000 is immediate Strongest Resistance level . 3. Good resistance exists at 35500 and Strong Resistance is developing from 35000 to 35500. Support Level : 1. 34500 is Strong Support level . 2. 34000 is next Good Support Level . Sideways Possibility : 80% chances of sideways market, between 34500 and 35000 . Trend Line : Voilet Line - Blue Line : Sell Below Voilet Trend Line and Blue Trend Line, till Big Green Support Line . Green Line : 1. Sell Below Big Green Support Line at 34500 if broken by large volume and price sustains below it for atleast 5 min. 2. Buy Above Big Green Support Line at 34500 when you see a revarsal, as you saw in the morning * Voilet Line a New Resistance forming in next half of the Day will play an important role tomorrow, trade safe near it. Important Note: Need large volume to break 35000. As the Resistance is building strong at 35000 level it seems that at least for first half market would be in down and sideways. *Imp Note : Support and Resistance Marked keeps on changing as the day progresses and new trader joining. Strong Support and Resistance will act atleast for first half and may be broken with large volume . Try to Sell Options, time decay benift you will get. This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to all retail traders to learn Market. I hope you all like my analysis. Please do share your thoughts into comment section. Please hit the Follow button to get the regular analysis. Please give a like, it motivates me to do analysis and do share with your friends as well.
NSE:BANKNIFTY
by kiranrshinde
9
BANKNIFTY CHART ANALYSED FOR UPCOMING TRADING SESSIONS CURRENTLY STANDING AT REAL CRUCIAL LEVELS OF 32400-32200 The reason being crucial are ~ ~ 0.5 and 0.618 which is also considered as healthy retracement before continuing its main trend ( that is UPTREND ) ~ the W shaped breakout’s NECKLINE which previously acted as a RESISTANCE and gave confirmation of trend reversal as UPTREND will now act as GOOD SUPPORT ~ the gap pertaining between 32400 and 32200 had been of immense demand and supply zone as we can see huge gaps being created at these places and such gaps will act as a STRONG SUPPORT and I think only opening with huge gaps can break these insurmountable levels ~ following election news, if Marley doesn’t opens up with huge gaps that would also add to a fact that market is strong enough to absorb this shortcomings!! These are some of my views !! Currently trading in no trading zone unless the following given levels breaks ✅
NSE:BANKNIFTY
by Wealthcam
BANKNIFTY CHART ANALYSED FOR 31st MARCH 2021Did exactly what we discussed yesterday ~ opened above 33600 and one sided rally made till 33950 then the market remained sideways through the day NOW WHAT FOR TOMORROW?? Since BANKNIFTY remained sideways through the day it gave us the potential levels for tomorrow, we can also see INVERTED HEAD AND SHOULDERS PATTERN which is also a BULLISH continuation pattern So the levels stand as 33950 as its first resistance and breaking of that very level with proper candle close can lead to good 400-500 moves 🔥 Below we can see 33600 standing as an important SUPPORT being tested multiple times and also the gaps below which is still unfilled that can be filled with breaking of this support Till the levels are broken, stay idle and wait for these levels to get breached 🙏🏼
NSE:BANKNIFTY
by Wealthcam
Bank Nifty Intraday Trade Setup | 18th Feb 2021As we analyzed yesterday, we opened almost flat and instantly tested yesterday's low. It gave a good rally, initiated our buy trade and we booked 120 points in Future. We again got another opportunity to sell below 36950 and again booked 100 points on the sell-side too. Overall, good day! Expectations: Range-Bound Day Resistance: 37240 Support: 36680 Intraday levels for next session: Buy Above 37050 for the targets of 37150, 37250, and 37350 Sell Below 36750 for the targets of 36600, 36500, and 36400 To motivate me, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
8
Bank Nifty Intraday Trade Setup | Feb 5th 2021Our Buy trade initiated above 34800 as we analyzed yesterday and all targets hit quickly. We already saw almost 5000 points rally in 4 days and weekly expiry is also done so buyers need to be cautious at this level, we have RBI policy tomorrow due to which volatility would be high. Resistance: 35750 Support: 34800 Expectations: Wild swings and overall a negative day. Intraday levels for tomorrow: Buy Above 35400 for the targets of 35500, 35600, and 35700. SL for the Buy Trade would be 35290. Sell Below 35200 for the targets of 35060, 34900, and 34800. SL for the Sell Trade would be 35310. To motivate me, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
Will BankNifty behave like a DOPPLEGANGER & make all time high??If you observed carefully, BANKNIFTY & NIFTY has performed exactly like last Monday. Believing the fact that History gets repeated, will BNF can make all time high tomorrow. Case 1 - BNF opens gap-down and crosses 32100 level, it can go up to 32650 level. Case 2 - BNF crosses 31820 level, it can retest 31500 level. The range as shown in the picture is important. Whichever side a 15 min candle closes, I will enter a trade considering range breakout/breakdown. Let me know guys, who all noticed this behavior today and made profits. Note - Many people have been approaching me for tips, I would like to tell them that I am a trader and by the time I will give you the tip market would have already moved 10-15 points. So I don't want to give any tips, I can only teach you how to approach the markets in a way which suits your personality and temperament. Cheers.
NSE:BANKNIFTY
by aman_saha
BANKNIFTY - Jan 4 AnalysisWe can see market has given a breakout of 15 min range in the end. Case 1 - Market opens big gap up, comes down, takes support and shows bullish sign then I will go long. Case 2 - Market opens flat and form 5 min bullish candle above the range, I will go long Case 3 - Market is within the range and consolidates and breaks down the 15 min range, I will go short. This is my trading plan to execute with my risk management policies. Don't rush, Wait Patiently and Trust the Process.
NSE:BANKNIFTY
by aman_saha
BNF WILL TRAP MANY TRADERS BOTH SIDES SEE HOW ?Hi Traders, 1. There is nothing to compare with my Friday post trading plan. Except I shared down trend has changed to up trend as red line was taken out on Friday so trend is upside. It is still going on . Bnf opened gap up and breached swing high. For swing high related update I send in morning for those who carried short positions on Friday. That update condition was breached by crossing swing high. Means immediately covered shorts. Always remember when condition is breached you have to take accordingly. See market spend two hours in tight range. In first candle I saw selling pressure that gave me impression that sellers are present at that area. 2nd candle tried to cross first candle high but week bulls could not do it. That was the right clue for me even for those who covered shorts two hours back. To take position in down side .Here sl was clear, risk to reward ratio was pretty good. And market spend two hours in consolidation. All factors were in favor of shorts. I took that position by timing created in lower frame. That position I booked at red support line. Always remember when you are wrong side of trade and get stuck then cover your position when condition gets failed. See every day all support resistance and zones I shared how perfectly all works both side circled hammer candle in pink. One more thing to notice 27 bar moving average works perfectly circled in two areas of exponential moving average. No book depict this moving average even default setting in software are 9,21,50,100.200. But my all average are different from books and software. These are the result of long battle with charts in my long journey. Proving almost every day. So use them You will get more clear view of chart support and resistance. 2. Now tomorrow trade plan. See Bnf has not changed its structure to bearish mood. Although It changed to corrective structure where it will tarp both sellers and buyers till it do not take out green upper zone or green dotted line to down side. Taken out condition is valid for both side range. In this range it will trap both bears and bulls. 3. Green arrow shows if taken out this zone should take long with the sl of green zone. On other side Go short when lower red support line is taken out with sl of green dotted line for positional trades. New followers pl understand taken out condition first attaching that post . I think manifested whole trade for tomorrow. In my style of trading conditions are very important. If any body has basic understanding of charts can go for trading easily. If forget to act with any condition the. result will change into...... Traders are trading in various scrip which I manifested, many of them are writing in same post about their earning. They themselves write how condition help then to understand trade in market. So Trade "n" Grow with education. My final target of this upside move is blue zone. that can be achieved in day or two. One more thing in any case price visit blue zone in upside and i find extension in structure then blue zone will also create new. Rest market will decide. I can be wrong any day any time. So satisfying the ego of trollers by accepting it. My main motto is not to flaunt my wisdom but to help struggling traders in form of earning and education. YOGESH VATS
NSE:BANKNIFTYLong
by yvatsji
42