Get started

Bankniftyanalysis

how to do momentum trading and become profitable ?Momentum trading is a strategy that involves buying assets that are trending upwards and selling those that are trending downwards, based on the idea that assets in motion tend to stay in motion. It focuses on capitalizing on the continuation of trends rather than predicting market reversals. Here's how to do momentum trading and increase your chances of becoming profitable: ### 1. **Understand Momentum Trading Basics** - **Buy High, Sell Higher**: In momentum trading, the idea is to buy assets that are showing strong upward momentum and hold them until the trend starts to show signs of slowing down or reversing. - **Sell Low, Sell Lower**: For shorting (if you're allowed to do so), you would sell assets showing downward momentum and cover them when the price starts to rebound. ### 2. **Use Momentum Indicators** Momentum indicators help identify whether an asset is in a strong trend and can give buy or sell signals. Key indicators for momentum trading include: - **Relative Strength Index (RSI)**: As discussed earlier, use it to identify overbought (above 70) and oversold (below 30) conditions. You can also look for bullish or bearish divergences. - **Moving Average Convergence Divergence (MACD)**: This is used to detect changes in the strength, direction, momentum, and duration of a trend. It helps spot potential buy and sell signals. - **Moving Averages**: A simple moving average (SMA) or exponential moving average (EMA) helps you follow the trend. Buy when the price is above the moving average, and sell when it's below. - **Average Directional Index (ADX)**: The ADX measures trend strength. Readings above 25 indicate strong trends, while readings below 20 suggest weak trends. - **Volume**: A strong trend usually comes with increased trading volume. Look for volume spikes to confirm the trend’s strength. ### 3. **Find Trending Stocks or Assets** Look for assets with the following characteristics: - **Strong recent price movement**: Look for stocks or assets that have shown consistent price growth over the last few days or weeks. - **News or events**: News catalysts, earnings reports, or other events can fuel momentum. For example, positive earnings or product announcements can drive momentum in a stock. - **Liquidity**: It's crucial to trade liquid assets to avoid slippage and get in and out of positions quickly. ### 4. **Entry and Exit Strategy** - **Entry**: Look for points where momentum is still strong. You might enter when the asset pulls back to a key support level (e.g., moving average, trendline) and shows signs of resuming the trend. This is often referred to as buying the dip in an uptrend. - **Exit**: Have a predefined exit strategy. You can set profit targets based on historical price resistance levels or use technical indicators to signal when to exit. Consider using trailing stops to lock in profits if the trend continues. ### 5. **Risk Management** Momentum trading can be volatile, so proper risk management is essential: - **Stop Loss**: Set stop losses at strategic points (such as below recent lows in an uptrend or above recent highs in a downtrend) to limit your losses in case the trend reverses. - **Position Sizing**: Only risk a small percentage of your trading capital on each trade (typically 1-2%). This helps protect you in case of a series of losing trades. - **Risk/Reward Ratio**: Aim for a minimum risk/reward ratio of 1:2 (i.e., risking $1 to make $2). ### 6. **Monitor Trends and Adjust** Momentum trends can change quickly. Regularly monitor your trades to adjust stop losses, take profits, or exit trades if the momentum starts to shift. ### 7. **Psychology and Discipline** - **Avoid chasing the trend**: Don’t jump into trades late just because the asset is moving. Wait for pullbacks or clear buy signals. - **Emotional control**: Momentum trading can be fast-paced and emotional, especially when markets are volatile. Stick to your plan and avoid impulsive decisions. - **Patience**: Sometimes, trends take time to develop. It’s important to not rush into trades and to wait for the right moment. ### 8. **Backtest and Paper Trade** Before committing real capital, backtest your strategy using historical data to see how it would have performed. Paper trading can also help you practice without the risk. ### 9. **Continuous Learning and Improvement** Momentum trading requires constant learning. Keep refining your strategies, reviewing your trades, and studying the markets. Analyze your wins and losses to identify patterns and areas for improvement. ### Summary of Key Tips for Profitability: - **Stay in the trend**: Ride the wave as long as possible. - **Use technical indicators**: RSI, MACD, and moving averages are critical. - **Control risk**: Use stop losses, position sizing, and a good risk/reward ratio. - **Stay disciplined**: Don't let emotions drive decisions. - **Adapt and evolve**: Markets change, so you should too. By following these steps and consistently applying your strategy, momentum trading can become a profitable approach, but remember that it's not foolproof and can involve significant risks.
Education
by SkyTradingZone
Paradeep Phosphates Ltd.Paradeep Phosphates Ltd. (PPL) is a leading Indian manufacturer of phosphatic fertilizers, playing a pivotal role in the agricultural sector by providing essential nutrients to enhance crop productivity. Here's a comprehensive analysis of PPL's stock performance and financials: **Stock Performance:** - **Current Price:** As of February 14, 2025, PPL's share price closed at ₹101.71, reflecting a 3.98% increase from the previous day. - **52-Week Range:** The stock has traded between ₹61.95 and ₹130.40 over the past year, indicating significant volatility. - **Market Capitalization:** PPL has a market capitalization of approximately ₹8,291.50 crore, ranking it fifth in the fertilizers sector. **Financial Highlights:** - **Revenue Growth:** The company reported a revenue decline of 13.23% in the latest financial year, which may be a concern for investors. - **Operating Margin:** PPL's operating margin stands at 5.60%, indicating moderate operational efficiency. - **Debt-to-Equity Ratio:** The debt-to-equity ratio is 1.12, suggesting a higher reliance on debt financing, which could impact financial stability. - **Return on Equity (ROE):** The ROE is 2.81%, reflecting a modest return on shareholders' equity. - **Dividend Yield:** PPL offers a dividend yield of approximately 0.59%, providing some income to shareholders. **Analyst Insights:** - **Price Target:** Analysts have set a target price of ₹142.50 for PPL, indicating a potential upside of about 40% from the current price. - **Investment Rating:** The consensus among analysts is positive, with an average target price of ₹142.50, suggesting a potential upside of 40% from the current price. citeturn0search6 **Conclusion:** Paradeep Phosphates Ltd. has demonstrated a strong position in the Indian fertilizer industry, with a significant market capitalization and a positive outlook from analysts. However, the recent decline in revenue and the high debt-to-equity ratio are factors that investors should consider. The stock's current valuation appears attractive, with analysts projecting a substantial upside. Investors should weigh these factors carefully in line with their individual investment goals and risk tolerance. *Please note that stock market investments carry inherent risks. It's advisable to conduct thorough research or consult with a financial advisor before making investment decisions.*
NSE:PARADEEPLong
by Ashwani123
TCPL Packaging Ltd. long TCPL Packaging Ltd. is a leading manufacturer of packaging solutions, catering to industries such as FMCG, pharmaceuticals, and consumer durables. Here's a comprehensive analysis of TCPL Packaging Ltd.'s stock performance and financials: **Stock Performance:** - **Current Price:** As of February 14, 2025, TCPL Packaging's share price is ₹3,484.75, reflecting an 8.55% increase from the previous close. - **52-Week Range:** The stock has traded between ₹1,902.05 and ₹3,826.00 over the past year, indicating significant volatility. - **Market Capitalization:** The company has a market capitalization of approximately ₹31.74 billion. **Financial Highlights:** - **Revenue:** In 2023, TCPL Packaging reported revenues of ₹15.41 billion, a 4.51% increase from the previous year's ₹14.75 billion. - **Net Income:** The company reported a net income of ₹1.01 billion in 2023, a decrease of 8.74% compared to the previous year. - **Earnings Per Share (EPS):** The latest EPS stands at ₹149.01. **Valuation Metrics:** - **Price-to-Earnings (P/E) Ratio:** The stock has a P/E ratio of 23.5, indicating it is trading at a premium compared to the industry average. - **Dividend Yield:** TCPL Packaging offers a dividend yield of 0.63%, with the last dividend per share at ₹22.00. **Shareholding Pattern:** - **Promoter Holding:** Promoter holding remains unchanged at 55.74% as of December 2024. - **Institutional Investors:** Mutual funds have increased their holdings from 7.60% to 7.73% in the December 2024 quarter. **Analyst Insights:** - **Price Target:** Analysts have set a price target of ₹4,250.00 for TCPL Packaging, indicating a potential upside of approximately 22% from the current price. - **Technical Indicators:** The stock has a beta of 1.24, suggesting higher volatility compared to the market. **Conclusion:** TCPL Packaging Ltd. has demonstrated steady revenue growth and maintains a strong market position in the packaging industry. While the stock is trading at a premium valuation, the company's consistent performance and positive analyst outlook suggest potential for future growth. Investors should consider these factors in conjunction with their individual investment goals and risk tolerance. *Please note that stock market investments carry inherent risks. It's advisable to conduct thorough research or consult with a financial advisor before making investment decisions.*
NSE:TCPLPACKLong
by Ashwani123
what is support and resistance and how to use it ?**Support and resistance** are key concepts in technical analysis and are used by traders to determine price levels on charts that act as barriers for the price movement. Understanding these levels is crucial for making informed trading decisions. Let's break it down: ### **What is Support?** - **Support** is a price level where an asset tends to find buying interest as it falls. It acts as a “floor” that prevents the price from falling further. - When the price approaches support, demand for the asset usually increases, causing the price to bounce back upwards. - Think of support like the ground beneath the price — it’s a level where the price "bounces" upward because there’s more buying than selling. ### **What is Resistance?** - **Resistance** is the opposite of support. It’s a price level where selling pressure tends to increase as the price rises, acting like a “ceiling” that prevents the price from moving higher. - When the price approaches resistance, supply (selling) often exceeds demand (buying), and the price starts to retreat or consolidate. - Resistance is like the ceiling above the price — a level where the price "gets pushed down" because there’s more selling pressure than buying pressure. ### **How to Use Support and Resistance in Trading** Support and resistance levels can be used for **trade entry points**, **stop-loss placement**, and **take-profit targets**. Here’s how you can utilize them: --- ### **1. Identifying Support and Resistance Levels** - **Previous Price Action**: Look for areas where the price has reversed or stalled in the past. Peaks and troughs (highs and lows) on the price chart often indicate potential support or resistance levels. - **Support**: Look for recent lows where the price reversed from going lower. - **Resistance**: Look for recent highs where the price reversed from going higher. - **Round Numbers**: Price levels that are round numbers (e.g., 100, 200, 500) often act as psychological support or resistance levels due to trader behavior. - **Moving Averages**: Sometimes, moving averages (like the 50-day or 200-day moving average) act as dynamic support or resistance. - **Trendlines and Channels**: You can draw trendlines to connect lows (support) in an uptrend or highs (resistance) in a downtrend. Channels can also form when the price moves within parallel support and resistance levels. --- ### **2. How to Trade Using Support and Resistance** - **Buying at Support**: - In an uptrend or range-bound market, support levels act as potential buy zones. If the price approaches support and shows signs of bouncing (such as bullish candlestick patterns), a trader might consider entering a **long position** (buy). - **Stop-Loss**: Place your stop-loss order just below the support level to limit losses if the price breaks through. **Example**: If the price bounces off the support level and starts to rise, you can enter a **buy** order and set your stop-loss below the support level to protect against a breakdown. - **Selling at Resistance**: - In a downtrend or range-bound market, resistance levels are potential sell zones. When the price approaches resistance and starts showing signs of rejection (such as bearish candlestick patterns), a trader might consider entering a **short position** (sell). - **Stop-Loss**: Place your stop-loss just above the resistance level to limit losses if the price breaks through. **Example**: If the price nears resistance and begins to decline, you might enter a **sell** position with a stop just above resistance. - **Breakouts** (Trading through Support or Resistance): - **Breakout** occurs when the price pushes through a significant support or resistance level with strong momentum (and ideally, increased volume). - When the price breaks resistance, it’s often a sign of bullish continuation, and traders might enter a **buy** position. - When the price breaks support, it’s often a sign of bearish continuation, and traders might enter a **sell** position. **Example**: If the price breaks through a key resistance level (on high volume), it may signal that a new uptrend is starting. You can enter a **buy** order and set your stop-loss just below the breakout point. - **False Breakouts (Fakeouts)**: - Sometimes, the price might break support or resistance temporarily, only to reverse direction and move back within the range. This is known as a **false breakout** or **fakeout**. - To avoid getting caught in a fakeout, traders look for confirmation from volume or price action (e.g., wait for a candlestick pattern or a retest of the broken level). --- ### **3. Using Support and Resistance to Set Targets** - **Take-Profit Target**: You can use **resistance** as a target when you're buying or **support** as a target when you're selling. This helps you define a profit-taking level. **Example**: In an uptrend, if you buy at support, you might set your take-profit target at the next resistance level where the price might stall or reverse. - **Risk-to-Reward Ratio**: - A good strategy is to ensure your stop-loss is placed just beyond the support (for long positions) or resistance (for short positions), and your take-profit target is a reasonable distance away. - Aim for a **positive risk-to-reward ratio** (e.g., 1:2 or 1:3), where your potential reward is greater than your potential risk. --- ### **4. Support and Resistance in a Trend vs. Range Market** - **Trending Markets**: - In an **uptrend**, support levels are typically higher lows. In a **downtrend**, resistance levels are lower highs. - **Trend Continuation**: Traders can enter **long positions** near support in an uptrend or **short positions** near resistance in a downtrend. - **Range-Bound Markets**: - When the market is not trending (i.e., moving sideways), prices bounce between clear **support and resistance** levels. - **Range Trading**: In a sideways market, you can trade by buying near support and selling near resistance. --- ### **5. Adjusting Support and Resistance for Time Frames** - **Short-Term Support and Resistance**: For day traders and scalpers, these levels will be closer to the current price, and traders will focus on **intraday support and resistance** levels. - **Long-Term Support and Resistance**: For swing traders and investors, you will focus on **weekly or monthly support and resistance** levels. These are typically more significant and can indicate larger trend changes. --- ### **Summary of Key Points**: 1. **Support** is a price level where buying pressure is strong enough to stop the price from falling further. 2. **Resistance** is a price level where selling pressure is strong enough to prevent the price from rising higher. 3. Use **support** for **buying** in an uptrend and **resistance** for **selling** in a downtrend. 4. **Breakouts** above resistance or below support can signal new trends, while **bounces** off support or resistance indicate trend continuation. 5. Place **stop-loss orders** just below support when buying or above resistance when selling. 6. Combine support and resistance with other technical indicators for better confirmation of trade setups. By understanding and utilizing support and resistance levels, you can improve your trade timing and overall trading strategy. They provide structure to the market, helping you make more informed decisions about when to enter or exit positions.
NSE:NIFTYEducation
by Optionclub
BANKNIFTY - LONG POSITIONS ON RETRACEMENT?Symbol - BANKNIFTY CMP - 49300 Bank Nifty has recently approached a crucial resistance zone, positioned between the 50600 and 51000 levels. This zone has acted as a significant barrier to upward movement. Observing the recent price action, Bank Nifty has tested this resistance area multiple times, confirming its strength. From a technical standpoint, the index has formed a double bottom pattern near 48000 levels, which is a critical support zone. This pattern typically indicates a potential reversal of the previous downtrend, as the price failed to breach the 48000 support level and instead demonstrated a strong recovery. The double bottom formation suggests a buildup of bullish momentum from the support region. Currently, Bank Nifty has shown a notable retracement from the resistance zone. Given the pattern formation and the recent retracement, the expectation is for the bullish trend to resume. A recovery from the current levels could lead Bank Nifty to retest the 50500 - 51000 resistance zone again. Should the index successfully break above this resistance area and sustain levels above it, the next target is likely to be around the 51800 level. However, the bullish outlook is contingent upon the index holding its key support levels. The critical support range lies between 48800 - 48600 area. Should Bank Nifty fail to maintain this support and break below it, the trend may turn bearish, triggering a potential sell-off and driving prices lower, with the next possible support zones coming into play at lower levels. In summary, the technical analysis suggests a favorable bullish scenario, provided the key support levels hold. If the resistance zone around 50800 is breached, further upside momentum toward the 51800 region is possible. However, failure to hold the support zone could lead to a reversal in the trend, and further downside could materialize.
NSE:BANKNIFTYLong
by akshit_official
5
BANKNIFTY MATHEMATICAL LEVELSThese Levels are based on purely mathematical calculations. 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 StocksOptionBlaster
what is DATABASE trading and how to do it ?It provides real-time information about stock and market prices as well as historical trends for assets such as equities, fixed-income products, currencies and derivatives. Step 1: Establishing the Baseline. Start by understanding the macroeconomic context. ... Step 2: Analyzing the Surprise Factor. Trading involves the buying and selling of financial assets, such as stocks, to earn profits based on the price fluctuations of these assets. There are different types of trading, and traders use various strategies, techniques, and tools to decide when to buy or sell different assets
NSE:NIFTYEducation
by Optionclub
what is database trading and how to do it ???Trading data is a sub-category of financial market data. It provides real-time information about stock and market prices as well as historical trends for assets such as equities, fixed-income products, currencies and derivatives. A Proven Process for Trading Economic Data Step 1: Establishing the Baseline. Start by understanding the macroeconomic context. ... Step 2: Analyzing the Surprise Factor. Beyond median forecasts, consider the range of expectations. ... Step 3: Considering Pre-Positioning and the Bigger Picture.
NSE:HDFCBANKEducation
by SkyTradingZone
how to pcr in the option chain analysis???PCR is computed by dividing open interest in a put contract on a particular day by open call interest on the very same day. Here PCR is computed by dividing the put trading volume by the call trading volume on a specific day. Here, Put volume indicates the total put options initiated over a specific time-frame. The PCR ratio is calculated by dividing the total open interest of outstanding put options by the total open interest of outstanding call options for a specific security or market. The open interest represents the total number of options contracts that have not been exercised or expired.
BITSTAMP:BTCUSDEducation
by SkyTradingZone
Trading Management and PsychologyTrading psychology refers to the mental state and emotions of a trader that determines the success or failure of a trade. It represents the aspects of a trader's behavior and characteristics that influence the actions they take when trading securities. Trading Psychology simply refers to the feelings and emotions of a trader experiences and the associated actions the trader takes as a result. Just like in any other aspect of life, understanding how our mind works can improve our ability to trade better, take more informed, rational decisions and calculated risk.
NSE:NIFTYEducation
by SkyTradingZone
3
#Banknifty directions and levels for the second week of FebruaryCurrent View: The current view suggests that after the sharp pullback has ended, a minor correction is in progress. We can usually expect a three-wave structure in this correction. If it continues, we can anticipate a minimum correction of 38% to 50% for Bank Nifty in the current swing. > After that, if it finds support at either the 38% to 50% level with a three-wave structure, it would indicate a continuation of the rally. > However, we should seek some reversal confirmation using certain parameters, such as the EMA 20 or a breakout at the 38% Fibonacci level. This is the current view. > Notably, due to the BJP's victory in the Delhi election, if the market starts this week with a bullish bias and breaks the previous high without forming this three-wave structure, we can also follow the upside levels. In this case, it could be considered an extension variation. Alternate View: The alternate view suggests that Gift Nifty indicates a negative start in the first session of the week. So, if a solid correction structure forms, the trend will likely continue once the price breaks below the 78% mark on the downside. Until then, we should consider both Nifty and Banknifty to be in a range-bound market.
NSE:BANKNIFTY
by Manickamtraders
NIFTYBANK FRIDAY TRADE PLAN Friday trade plan based on hourly chart. Banknifty in Impulse diagonal abcde, with e in progress. Making Higher High Higher Low Bullish Structure Gap up Sustained RBI Meet repo rate announcement 7 Feb 10 am. Can be volatile keep, trade cautiously. Disclaimer: I am not SEBI registered analyst. These are not buy/sell recommendations. Trading/investing can be very risky, reach out to a authorised consultant before making any decisions. I do not claim/promise any profits.
NSE:BANKNIFTYLong
by IMStockwala
#Banknifty directions and levels for February 5th:In the previous session, Bank Nifty had a solid rally, suggesting further continuation. However, We can expect a rally only if it effectively breaks through this supply zone. If it does, we can anticipate a solid rally. However, if it rejects around the supply zone or if the market declines initially, we can expect a minimum retracement of 38% to 61% in the minor swing, using the Fibonacci levels from the swing low to the upcoming high (from 48,906 to the anticipated high)
NSE:BANKNIFTY
by Manickamtraders
Management with PsychologyMastering trading psychology is a crucial component of achieving consistent success in the financial markets. By understanding and managing emotions, avoiding common pitfalls, and embracing individual strengths and weaknesses, traders can elevate their decision-making process. The Psychological Support/Resistance indicator aims to provide the user with hypothetical support and resistance zones that are likely to provoke a strong reaction in price, either in both directions, providing good bouncing zones or significant movements once those levels are breached.
NSE:BANKNIFTYEducation
by SkyTradingZone
#Banknifty directions and levels for January 30th:Bank Nifty Current View The current view for Bank Nifty is similar to that of Nifty. If the market pulls back, it could reach a minimum of 49,381 to 49,400, which is a rejection zone. If it consolidates or breaks this level, we can expect further continuation. On the other hand, if it gets rejected sharply there, we can expect a correction of at least 50% to 78% in the current swing. >For reversal confirmation, we can use the EMA20 on the 15-minute chart. In a directional market, this indicator works well, but if the market starts to grind, it may show some false signals. Alternate View The alternate view suggests that if the market starts to decline, it could reach a minimum of 48,850 when it breaks the 38% mark. If this happens, the demand zone will act as strong support, and structurally, we can expect a pullback here. However, we should note that if the market reaches this level in a straight line or consolidates without any pullback, the probability of further downside increases.
NSE:BANKNIFTY
by Manickamtraders
#Banknifty directions and levels for January 29th:Bank Nifty Current View: The current structure in Bank Nifty is similar to Nifty. If the market declines initially, we can expect a correction towards 48614, which is a major support zone. If the market finds support here, it may bounce back to its opening level with a bullish bias. > On the other hand, if the market breaks this zone or consolidates around it, the correction will likely continue towards 48465–48252. Alternate View: If the gap-up sustains, 49142 will act as strong resistance. If the market gets rejected at this level, we can expect a range-bound session. However, if it consolidates or breaks above this level, the rally will likely continue towards 49264, a minor rejection zone.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 27.01.2025On Friday, BankNifty opened flat to negative and experienced a volatile session. It initially hit a low of 48,347.85, then rallied to the day’s high of 48,858.65 before declining sharply to a new low of 48,203 by the end of the day. The index closed at 48,367.80, losing 221 points compared to the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) continues to be negative. Demand/Support Zones Near Minor Demand/Support Zone (5m): 48,074.05 - 48,171.10 Far Support Zone: 46,077.85 (low from 4th June 2024) Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Near Supply/Resistance Zone (Daily): 49,230.15 - 50,447.60 (tested multiple times) Near Supply/Resistance Zone (75m): 49,787.70 - 49,979.05 (inside the Daily supply zone) Far Supply/Resistance Zone (Weekly): 50,485.05 - 51,979.75 Far Supply/Resistance Zone (75m): 50,904.35 - 51,088.90 (inside the Weekly supply zone) Outlook This marks the third consecutive week that BankNifty has closed below the crucial June 2024 election week closing levels, indicating persistent selling pressure. Unless BankNifty finds support in the 47,800–48,000 zone, further downside could unfold in the coming days. However, a breakout above 49,000 and sustained trading in that range could trigger a bullish move, targeting the 50,000–50,500 zone. With the Union Budget 2025 approaching, heightened volatility is expected. Trade cautiously and keep an eye on key levels!
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY stuck in a Range in 1 hour timeframeObservations BANKNIFTY has been consolidating within a defined range for the past 4 trading sessions in one hour candle chart Support level: 48000 Resistance level: 49660 Price action has been characterized by lack of strong directional bias Trading Idea Breakout Strategy: Long Entry: A decisive break above the resistance level 49660 with increased volume and confirmation from indicators. Stop-Loss: Below the recent swing low within the range. Target: Risk-Reward ratio of 1:2 Short Entry: A decisive break below the support level 48000 with increased volume and confirmation from indicators. Stop-Loss: Above the recent swing high within the range. Target: Risk-Reward ratio of 1:2 Considerations: Volume: Increased volume on the breakout can strengthen the move. Indicators: Consider using indicators like RSI, MACD, or Bollinger Bands to identify potential divergences or confirmations. News & Events: Be aware of upcoming budget events that could impact market sentiment. Disclaimer: This is for informational purposes only and not financial advice. Trading involves risk, and you should always conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:BANKNIFTY
by pickmystox
2
BankNifty Intraday Support & Resistance Levels for 24.01.2025On Thursday, BankNifty saw a subdued session, opening flat to positive but struggling to sustain higher levels. It made a low of 48,493 during the first 30 minutes, rallied to a day high of 48,892.70, and then traded sideways for most of the session. As the day ended, it dipped near the day’s low and closed at 48,589, losing 135 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is negative. Demand/Support Zones Near Minor Demand/Support Zone (5m): 48,074.05 - 48,171.10 Far Support: 46,077.85 (Low of 4th June 2024) Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Near Supply/Resistance Zone (Daily): 49,230.15 - 50,447.60 (tested multiple times) Near Supply/Resistance Zone (75m): 49,787.70 - 49,979.05 (inside the Daily supply zone) Far Supply/Resistance Zone (Weekly): 50,485.05 - 51,979.75 Far Supply/Resistance Zone (75m): 50,904.35 - 51,088.90 (inside the Weekly supply zone) Outlook BankNifty continues to struggle around the 48,500 levels, indicating a lack of strong buying momentum. However, the 48,000 - 48,100 demand zone might provide support in the short term. On the upside, resistance around 49,200 - 49,800 needs to be breached for any sustained rally.
NSE:BANKNIFTY
by PriteshPalan
#Banknifty directions and levels for January 23rd:Bank Nifty Current View: The Bank Nifty current view has two variations: > First Variation: If the gap-down sustains, it will likely consolidate within the previous day's range. In this sentiment, a correction will only be expected if it breaks the previous bottom, meaning that until the previous bottom is broken, the market bias could remain moderately bullish. > Second Variation: This is conditional; the initial market should take a solid pullback and could reject around the immediate resistance zone. If this occurs, the market will turn into a correction phase, supported by structural reasons. Alternate View: The alternate view is similar to that of Nifty. If the gap-down does not sustain or if the market finds support around the 38%, we can expect some consolidation between the 38% and the upside 61% mark. In this case, the supply zone may not be as effective.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 23.01.2025On Wednesday, BankNifty showed resilience, opening on a positive note but dipping to a low of 48,074.05, breaking below the 125m Demand Zone and entering the Far 30m Demand Zone. From there, it rallied strongly during the final trading hour, touching a high of 48,781.75 before closing at 48,724.40, gaining 153 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) stays negative. Demand/Support Zones Near Demand/Support Zone (30m): 47,950.15 - 48,117.75 (tested) Far Support: 46,077.85 (low of 4th June 2024) Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Near Supply/Resistance Zone (75m): 49,787.70 - 49,979.05 Near Supply/Resistance Zone (Daily): 49,230.15 - 50,447.60 (tested) Far Supply/Resistance Zone (75m): 50,904.35 - 51,088.90 Outlook BankNifty's rally from the 30m Demand Zone highlights robust support around 47,950 - 48,100. On the upside, the 49,200 - 49,400 range presents significant resistance, with further barriers near 49,800 - 50,000. A breakout above these levels could open doors to 50,900+.
NSE:BANKNIFTY
by PriteshPalan