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Bankniftyanalysis

Banknifty Bearish Harmonic Pattern _Both side moves possibleHello everyone, yesterday there was pullback in banknifty around 800 points but pullback fail as volume not supported and the multiple resistance at 51000-51200 with bearish harmonic pattern banknifty fall again around 700 points from high. bearish trend can continue if banknifty breaks below 50200 another 1000 points fall can possible breaking above 51200 only upside posssible. and Non Directional range is 50000 to 51000.
NSE:BANKNIFTYShort
by finvestalgo
Banknifty forecast 21-22 Nov’22 l Elliott waveBanknifty can have two possible scenarios. It is in correction of 5 wave while in 4 of 5. 4 looks completed and we are in last leg then temporary pause of fall expected. Red : most likely scenerio. Below 50300 we are short for impulse down 💰💰 Green: less likely but we are still in wave 4 it will tests our patience should move very slow up towards 50900-51000. Disclaimer: This post is for educational purpose. No trade/ buy/ sell signal is suggested or advised. Do your own analysis before buying or selling any stock/options.
NSE:BANKNIFTYShort
by IMStockwala
BankNifty Intraday Support & Resistance Levels for 21.11.2024On Tuesday, BankNifty opened gap-up, broke the 15m resistance zone, and rallied to a high of 50,983.50, meeting the anticipated resistance range of 50,725 - 51,000. However, during the last trading hour, it gave up all its gains and hit a day low of 50,440.85, eventually closing at 50,626.50, up by 262 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is still negative. Demand/Support Zones Near Support (Daily): 49,654.65 - 49,959.25 (already touched twice) Far Support: 49,282.65 (61.8% Fibonacci level) Far Support Zone (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Near Resistance (30m): 50,774.35 - 50,876.45 Far Resistance (30m): 51,586.35 - 51,874.70 Far Resistance (Daily): 51,562.70 - 52,493.95
NSE:BANKNIFTY
by PriteshPal
BankNifty Intraday Support & Resistance Levels for 19.11.2024On Monday, BankNifty opened with a gap up, made a low of 50,074, and climbed to a high of 50,445.80 before closing at 50,363.80, gaining 184 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is negative. If BankNifty continues to hold the Daily Demand Zone support, we might witness bullish momentum in the coming days, with potential targets of 50,725 to 51,000. Demand/Support Zones Near Support (Daily): 49,654.65 - 49,959.25 (already touched twice) Far Support: 49,282.65 (61.8% FIBO Level) Extended Support (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Immediate Resistance (15m): 50,725.35 - 50,852.45 Higher Resistance (30m): 51,586.35 - 51,874.70 Major Resistance (Daily): 51,562.70 - 52,493.95
NSE:BANKNIFTY
by PriteshPal
#Banknifty directions and levels for November 19th.Bank Nifty Current View: The structure is similar to the Nifty sentiment. The current view suggests that if the market declines initially, then 50,045 will act as support. If the market breaks this level, the correction will continue to a minimum of 49,745. On the other hand, if it doesn’t break this level (50,045), then it could consolidate between the level of 50,045 and the 38% upside. Alternate View: The alternate variation suggests that if the market sustains the gap-up, then the 38% level will act as resistance. If the market consolidates or breaks this level, then the pullback will continue to the next resistance Fibonacci level of 50%. Conversely, if it doesn’t break or rejects this level, we can expect consolidation leading to a correction.
NSE:BANKNIFTY
by Manickamtraders
#Banknifty directions and levels for November 18th.Bank Nifty Current View: The current view for Bank Nifty indicates that if the initial market takes a pullback around the immediate support level (38%), we can expect a minimum pullback of 23% to 38%. After that, if it rejects at either the 23% or 38% Fibonacci level, the correction will likely continue. However, if it sustains and breaks the 38% Fibonacci level, it could reach the 50% and 61% levels. If this happens, the upcoming session could turn into a range market. Alternate View: The alternate view suggests that if the market breaks the immediate support level (38%) solidly or consolidates around the support level, the correction will likely continue to the level of 49,283.
NSE:BANKNIFTY
by Manickamtraders
#BANKNIFTY - 18TH NOVEMBER!!NSE:BANKNIFTY Chart contains support and resistance levels ( understand how it works 👇🏻) Support and resistance are key concepts in technical analysis used to identify potential price levels where assets may reverse or stall. Support: -Definition: A support level is a price point where buying interest is strong enough to overcome selling pressure, preventing the price from falling further. - Indicators: Support levels can be identified through historical price data, trend lines, or moving averages. - Behavior: When a price approaches support, it may bounce back up. If broken, it can become a new resistance level. Resistance: - Definition: A resistance level is a price point where selling interest is strong enough to overcome buying pressure, preventing the price from rising further. - Indicators: Similar to support, resistance levels can be identified through past price action, trend lines, or moving averages. - Behavior: When the price approaches resistance, it may retreat. If broken, it can turn into a new support level. Importance: - Trade Decisions: Traders use these levels to make buy or sell decisions, set stop-loss orders, and identify potential profit targets. - Market Psychology: Support and resistance levels reflect market sentiment and the balance between supply and demand. Understanding these concepts can enhance trading strategies and improve decision-making.
NSE:BANKNIFTY
by thetradeforecast
1
BANKNIFTY Corrected 4000 points Weekly chart ANALYSISHello Everyone, as posted charts on 29th september, Banknifty Rejection Candle from Channel Resistance line, RSI negative Divergence, Price is more than 3000/4000 point away from EMA 20& 50____After every trending move Price is reverse to its EMA line___Positional Sideways to small correction can expected. now its corrected 4000 points and near to 50EMA but till looking weak if going to test 100EMA then 3 things going to happened 1st 100EMA test second 61% retracement done and breakout trendline retest possibilities as ahead of elections and USDINR is trading at its lowest of 84.40 indicate more volatality in near future. 49300, 48650,47500 is possible and important levels to watch
NSE:BANKNIFTYShort
by sagarmali101
1
BankNifty Intraday Support & Resistance Levels for 18.11.2024On Thursday, BankNifty opened with a gap down, climbed to a high of 50,561.80, and dipped to a low of 49,939.35. It closed at 50,179.55, gaining 91 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is negative. For two consecutive days, BankNifty has tested the Daily Demand Zone and held support near the 50,000 mark. As highlighted earlier, if this support holds, we could see bullish momentum targeting 50,725 to 51,000 levels. Demand/Support Zones Near Support (Daily): 49,654.65 - 49,959.25 (tested twice) Far Support: 49,282.65 (61.8% FIBO Level) Extended Support (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Immediate Resistance (15m): 50,725.35 - 50,852.45 Higher Resistance (30m): 51,586.35 - 51,874.70 Major Resistance (Daily): 51,562.70 - 52,493.95
NSE:BANKNIFTY
by PriteshPal
#Banknifty directions and levels for November 14th.Bank Nifty Current View: The situation is similar to the Nifty structure. If the market undergoes minor consolidation or if it breaks the previous bottom solidly, then the correction will likely continue toward the level of 38% to 49283. Furthermore, a diagonal pattern is also possible; therefore, we can follow the same instructions mentioned in the Nifty sentiment. Alternate View: > The alternate view indicates that if the market initially takes a pullback, we can expect a maximum pullback of 38% to 50%. After that, if it rejects the 38% Fibonacci level, then the correction will likely continue. > The pullback yesterday appeared to be a solid candle, so if the market takes a strong pullback, it could easily break the 38% Fibonacci level. However, if the market breaks the 38%, we could consider that a minor reversal.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 14.11.2024On Wednesday, BankNifty opened with a gap down and saw sharp selling pressure in heavyweight stocks, plummeting over 1,250 points and hitting a low of 49,904.40—right into the key Daily Demand Zone highlighted in the last post. It closed at 50,088.35, down 1,069 points on the last weekly expiry. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) has turned negative. As anticipated, breaking below 50,900 triggered a significant decline of 1,000 points. BankNifty did find support within the Daily Demand Zone (49,654.65 - 49,959.25) and bounced to 50,339.45 toward the session’s end. If this zone holds, we might see a rebound to 50,725 - 51,000. Notably, BankNifty has now corrected 4,563 points from its all-time high of 54,467.35, reflecting an 8.37% decline from the peak. Demand/Support Zones Key Support (Daily): 49,654.65 - 49,959.25 (current price within this zone) Far Support: 49,282.65 (61.8% FIBO Level) Extended Support (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Immediate Resistance (15m): 50,725.35 - 50,852.45 Higher Resistance (30m): 51,586.35 - 51,874.70 Major Resistance (Daily): 51,562.70 - 52,493.95
NSE:BANKNIFTY
by PriteshPal
BEARISH FLAG IN BANK NIFTY - TIME FOR A SHORT TRADE ?Symbol - BANKNIFTY CMP 51350 BankNifty has turned its trend from bullish to bearish & sideways making lows - lows on daily time frame & It was trading in a bearish channel. We can see a Bearish Flag pattern getting formed in BankNifty. Such patterns on larger time frame don't usually fail. BankNifty is currently trading near break down trendline of this pattern. Breakdown & sustaining below this trendline zone 51150 - 51000 will get this pattern activated & we can see big target towards downside. Target on downside can be 47400 P.S. : My short position is already active from 51800 Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
NSE:BANKNIFTYShort
by akshit_official
3
#Banknifty directions and levels for November 13th.Current View: The current view suggests that if the market sustains the gap-down, it could experience a minor bounce back around 50,865 or DZ. However, this would only be a minor bounce back; after that, if it breaks the previous bottom, then the correction is likely to continue. Alternate View: The alternate view indicates that if the market opens with a gap-up, or if the initial market takes a solid pullback and breaks the 20 EMA, it may hold a range-bound sentiment. This means the market could move to the top of the range. Targets are expected to be a minimum of 38% to 78% of the swing.
NSE:BANKNIFTY
by Manickamtraders
#BANKNIFTY - 13TH NOVEMBER!!NSE:BANKNIFTY #NIFTYBANK ⚡ Observe, understand, then implement 👍🏻 Chart contains support and resistance levels (understand how it works 👇🏻) Support and resistance are key concepts in technical analysis used to identify potential price levels where assets may reverse or stall. Support: -Definition: A support level is a price point where buying interest is strong enough to overcome selling pressure, preventing the price from falling further. - Indicators: Support levels can be identified through historical price data, trend lines, or moving averages. - Behavior: When a price approaches support, it may bounce back up. If broken, it can become a new resistance level. Resistance: - Definition: A resistance level is a price point where selling interest is strong enough to overcome buying pressure, preventing the price from rising further. - Indicators: Similar to support, resistance levels can be identified through past price action, trend lines, or moving averages. - Behavior: When the price approaches resistance, it may retreat. If broken, it can turn into a new support level. Importance: - Trade Decisions: Traders use these levels to make buy or sell decisions, set stop-loss orders, and identify potential profit targets. - Market Psychology: Support and resistance levels reflect market sentiment and the balance between supply and demand. Understanding these concepts can enhance trading strategies and improve decision-making. P.S note : im not SEBI REGISTRAR 🙏🏻 Any doubt 👉🏻 @thetradeforecast
NSE:BANKNIFTY
by thetradeforecast
1
BankNifty Intraday Support & Resistance Levels for 13.11.2024On Tuesday, BankNifty opened with a gap up, hitting a high of 52,169.05 before a sharp sell-off brought it down over 1,000 points to a low of 51,006.85, reaching the 30m demand zone highlighted in our last post. It closed at 51,157.80, down by 719 points. The Weekly and Daily Trends (50 SMA) both remain sideways. As BankNifty closed within the 30m demand zone, it has a chance to hold support around 50,900. If this level holds, a bounce to 51,650 or even 52,000 could be in play. However, if BankNifty falls below 50,900, it may slide further to the next major support at 49,959 or lower. Demand/Support Zones Near Support (30m): 50,900.10 - 51,230.85 (current price within the zone) Deeper Support (15m): 50,382.10 - 50,485.15 Major Support (Daily): 49,654.65 - 49,959.25 Far Support: 49,282.65 (61.8% FIBO) Extended Support (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Immediate Resistance (15m): 51,652.20 - 51,758.90 Higher Resistance (15m): 51,919.75 - 52,008.05 Key Resistance (30m): 52,232.35 - 52,396.50 Major Resistance (Daily): 52,817.80 - 53,235.25 Extended Resistance (Weekly): 53,741.40 - 54,467.35
NSE:BANKNIFTY
by PriteshPal
2
#Banknifty directions and levels for November 12th.Bank Nifty Current View: It looks similar to the Nifty sentiment. If the market sustains the gap-up, it could reach a minimum of 52,093. This is a major resistance. After that pullback, if it rejects there, then it will close where it started the session. However, if it sustains or breaks this level, then the pullback will continue toward the level of 52,237 to 52,357. This is our first variation. Alternate View: The alternate view suggests that if the market declines and breaks the level of 51,736, then it could reach a minimum of 51,483 to 51,395.
NSE:BANKNIFTY
by Manickamtraders
#NIFTY - 12 TH NOVEMBER NSE:NIFTY #NIFTYBANK ⚡ Observe, understand, then implement 👍🏻 Chart contains support and resistance levels (understand how it works 👇🏻) Support and resistance are key concepts in technical analysis used to identify potential price levels where assets may reverse or stall. Support: -Definition: A support level is a price point where buying interest is strong enough to overcome selling pressure, preventing the price from falling further. - Indicators: Support levels can be identified through historical price data, trend lines, or moving averages. - Behavior: When a price approaches support, it may bounce back up. If broken, it can become a new resistance level. Resistance: - Definition: A resistance level is a price point where selling interest is strong enough to overcome buying pressure, preventing the price from rising further. - Indicators: Similar to support, resistance levels can be identified through past price action, trend lines, or moving averages. - Behavior: When the price approaches resistance, it may retreat. If broken, it can turn into a new support level. Importance: - Trade Decisions: Traders use these levels to make buy or sell decisions, set stop-loss orders, and identify potential profit targets. - Market Psychology: Support and resistance levels reflect market sentiment and the balance between supply and demand. Understanding these concepts can enhance trading strategies and improve decision-making. P.S note : im not SEBI REGISTRAR 🙏🏻 Any doubt 👉🏻 @thetradeforecast
NSE:NIFTY
by thetradeforecast
1
#BANKNIFTY - 11 NOVEMBER !!NSE:BANKNIFTY #NIFTYBANK ⚡ Observe, understand, then implement 👍🏻 Strategy name : Higher Highs and Higher Lows This strategy is commonly used in trending markets to identify potential buy opportunities during an uptrend. Key Components of the Strategy: 1. Higher Highs and Higher Lows: In an uptrend, price action creates successive peaks (higher highs) and troughs (higher lows). These are signals of bullish momentum, where buyers are consistently pushing prices higher. 2. Trend Channel: The image shows a channel formed by connecting the higher lows with a trendline (lower boundary) and higher highs with another trendline (upper boundary). This channel helps traders identify the price range within which the trend is moving. 3. Entry Points: - The strategy suggests buying near the trendline at each higher low, which represents a potential support area within the trend. In the image, these points are marked as "BUY" or "ENTRY." - Buying near these higher lows increases the chance of entering trades at favorable prices during pullbacks in the uptrend. 4. Profit Targets: - Profit targets are set near the upper trendline or at subsequent higher highs. In the image, these points are marked as "PROFITS" with checkmarks. - This method helps traders secure profits as the price reaches the higher end of the channel. Managing the Trade: - After the first entry and a successful profit, traders can re-enter the market on the next pullback to a higher low. - Stop losses are typically placed below the previous higher low to manage risk in case the trend reverses. Summary: This strategy aims to capture gains in a trending market by entering trades at higher lows and exiting near higher highs within a channel. It works well in a stable, consistent uptrend but requires careful monitoring of trend changes to avoid potential losses if the trend breaks down. Ps note : I'm not SEBI Registere 🙏🏻 Any queries @thetradeforecast 🇮🇳
NSE:BANKNIFTYLong
by thetradeforecast
1
BankNifty Intraday Support & Resistance Levels for 12.11.2024On Monday, BankNifty started flat, dipped to 51,294.20, then rallied up to 52,177.70, nearing the 30m supply zone. It closed at 51,876.75, adding 315 points over the previous close. Both the Weekly and Daily Trends (50 SMA) remain sideways. Key demand and supply zones are unchanged from the last post. Demand/Support Zones Near Support (30m): 50,900.10 - 51,230.85 Minor Support (15m): 50,382.10 - 50,485.15 Deeper Support (Daily): 49,654.65 - 49,959.25 Extended Support: 49,282.65 (61.8% FIBO) Major Support (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Near Resistance (30m): 52,232.35 - 52,396.50 Key Resistance (Daily): 52,817.80 - 53,235.25 Extended Resistance (Weekly): 53,741.40 - 54,467.35
NSE:BANKNIFTY
by PriteshPal
BankNifty Intraday Support & Resistance Levels for 11.11.2024On Friday, BankNifty opened slightly negative, reaching a high of 52,007.15 and dipping to a low of 51,494 before closing at 51,561.20, down 355 points from the previous close. Both the Weekly and Daily Trends (50 SMA) remain sideways. Key demand and supply zones are unchanged from the last update. Demand/Support Zones Near Support (30m): 50,900.10 - 51,230.85 Minor Support (15m): 50,382.10 - 50,485.15 Major Support (Daily): 49,654.65 - 49,959.25 Deep Support: 49,282.65 (61.8% FIBO) Extended Support (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Near Resistance (30m): 52,232.35 - 52,396.50 Key Resistance (Daily): 52,817.80 - 53,235.25 Extended Resistance (Weekly): 53,741.40 - 54,467.35
NSE:BANKNIFTY
by PriteshPal