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Bankniftyanalysis

Banknifty prediction for today 9 JulyAs we discussed, BANKNIFTY opened sideways and ended sideways with volatility. If we look at the chart now: The market is trading in the range of 52276-52676. Support levels: 52276, 52000, and 51610 Resistance levels: 52676, 52816, and 53197 200 EMA and 50 EMA is going to provide good suport and resistance. If we look at the OI data: PCR = 0.63, which shows a bearish behavior in the market. The market can be seen as very volatile between 52276 and 52676. There has been good CE writing on higher levels, which indicates that bears are powerful. I expect the market to be sideways in the range, and if it breaks the range, it is going to give good momentum. 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 = 0.63 shows that the market is bearish. 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_
#Banknifty directions and levels for July 9th.Banknifty's structure is slightly different from Nifty, but it also indicates a range-bound market. If the market initially corrects, it may reach a minimum of 52233 to the demand zone. After that, if it finds support there, we can expect a minimum of a 38% bounce back in the minor swing. On the other hand, if it breaks the demand zone, the correction may likely continue. Alternatively, if the market initially pulls back, we can expect it to reach 52629 to 52796 with minor consolidation. Structurally, it could be an expanding flat. So, if it rejects around the supply zone, we can expect a correction.
NSE:BANKNIFTY
by Manickamtraders
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
Bank Nifty 08-07-2024 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
Short Banknifty for intraday to btst. 05/07/2024Guy's Banknifty looking highly bearish from current levels. HDFC BANK is culprit for this so i have bearish trade in banknifty. You can participate by taking an option trade or shorting future trade with strict stop loss. 1st let's buy banknifty option 10th july 52700 pe now trading at 395 keep stop loss at 325 Targets will be 460/516/575++ Disclaimer:- I have given same trades to my clients. future trade:- Short 1 lot Banknifty Future now at 52727 Stop loss 53022 Targets 52567/52450/52325-- take one lot 52800 ce now at 267 (hedging banknifty strategy) Please go with less qty only.. max 3-5 lots will be good in option trade for better results. Please follow strict stop loss and Targets in this trade. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:BANKNIFTY1!Short
by TraderRahulPal
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
BANKNIFTY Intraday Trade Setup For 4 Jul 2024BANKNIFTY Intraday Trade Setup For 4 Jul 2024 Bullish-Above 53260 Invalid-Below 53150 T- 53835 Bearish-Below 52800 Invalid-Above 52910 T- 52350 BANKNIFTY has closed on a bullish note with 1.77% gain today. It opened with a big gap up and post 10:30 AM index went in very small range. Since it has closed at ATH level after 6 days. Tomorrow above 53260 there can be a good move 53260. Potential targets can be till 54370, 53835 as midway target. Below 52800 there can be bearish grip however it is less probable. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 53260 then we will long for the target of 53835 and 54370. For selling we need a 15 Min candle close below 52800. T- 52350. 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 04-07-2024 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 5200## Major Resistance - Around 5300## 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 today 03 JULYAs we discussed, BANKNIFTY opened in the channel resistance zone. And the market started falling till 52000. If we look at the chart now: the market is trading in the downside channel in a flag pattern. It might complete the Flag and Pole pattern. If the market takes support from 52000, a good bullish momentum can be seen to the upside. The market is getting ready for the upside. Support levels: 52061, 51809, and 200 EMA and 51292 Resistance levels: 50 EMA, 52609, 52850, 53000 If we look at the OI data: PCR = 0.71, which has changed from 0.87, shows that bears are increasing their position while bulls wind off some of their positions. The market can move in either direction, as per the OI data. 52000 is a good support point, whereas 52500 and 53000 are good resistance points as having good CE writing. The morning 15-minute direction will determine the market direction. Reason: RSI ~ 40 indicates a bearish structure in the market; if breaks to the downside, it can give a good bearish momentum. EMA(200) < Price < EMA(13,50) shows bearishness, and the market can retest the 200 EMA. PCR = 0.70 shows that the market is mildly bearish. Price < VWAP shows a bearish market structure. Verdict: Sideways or Bullish Plan of action: The morning 15-minute direction will determine the market direction. Sell 52000 CE and Sell 52000 PE (Hedge it with 20/- premium); once the direction is confirmed, exit in the opposite position.
NSE:BANKNIFTYShort
by finnova_