Get started

Bankniftyanalysis

BankNifty Intraday Support & Resistance Levels for 23.07.2024On Monday, BankNifty entered the 75m and daily demand zones, bouncing 500 points from the day's low before closing at 52880.40. A decisive crossover above 52750 with volume might lead to a new all-time high. The weekly and daily trends (50 SMA) are still positive. As mentioned in the last post, the support and resistance levels remain the same. Support Levels: Near support/demand zone (75m) for weekly trade: 51749 - 51966 Major support/demand zone (Daily): 51138 - 51934 Resistance Levels: Near small supply/resistance zone (15m): 52482 - 52563 Far supply/resistance zone (30m): 53064 - 53188
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY Intraday Trade Setup For 23 Jul 2024BANKNIFTY Intraday Trade Setup For 23 Jul 2024 Bullish-Above 52450 Invalid-Below 52340 T- 53605 Bearish-Below 51850 Invalid-Above 51960 T- 50980 BANKNIFTY has closed on an absolute flat note today. It opened with a slight gap down and then regained yesterday's closing, after that it was total sideways from 9:45 till 3:30. Also we discussed in the weekend that index has been trading between 52800 and 52100 on closing basis. Since it tested these levels so we can refine levels for tomorrow's budget session. 51700 and 52800 are key levels for a big move. Intra levels are 52450 and 51850. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 52450 then we will long for the target of 53605. For selling we need a 15 Min candle close below 51850. T- 50980. 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
Budget day trading levels BN 23/07/24.Banknifty prior to the budget day closed flat and there are chances of a trending market owing to the news. On the hourly charts, the market has consolidation after the first hour candle. Consolidation is good to make the break out/ down to travel. Market is trading around the 20 ema and above 200 ema. If the market break below the moving average, trade using MA strategy can be entered. Major support levels :- 52160, 51940 Resistance levels :- 52420, 52630 Wait for the price action near the levels before entering the markets.
NSE:BANKNIFTY
by TheMamboMomentum
Banknifty Budget day prediction for tomorrow 23 Jun Tomorrow is Budget Day; all of you must be very excited to trade it. Usually, there is not very good price action for such events. The market might take turns from pivotal points marked on the chart. If we look at the chart now: The market is trading near the support zone and support trendline. The market has been consolidating for the last 15 days. If the range breaks to the upside, the market can give very nice momentum. Support levels: 52210, 52086, 51778, 51318 Resistance levels: 52657, 53178 If we look at the OI data: PCR = 0.59 shows bearish market behavior. There is good CE writing on the 52300 and 52500 levels, which shows a good resistance point. On the other hand, 52000 and 51500 is having good PE writing that might give good support points. Reason: RSI is 40 - 60, showing the market is going to be a sideways structure. Price trading at 200 EMA can go either way. PCR = 0.59 shows that the market is Bearish. Price > VWAP shows a Bullish market structure. Verdict: Neutral Plan of action: Wait for 15 min candle. Wait for good price action on the 52000 levels, and make your positions accordingly.
NSE:BANKNIFTY
by finnova_
BankNifty Intraday Support & Resistance Levels for 22.07.2024On Friday, BankNifty remained within its range and did not cross the major resistance level of 52750, closing 355 points down at 52265.60. A decisive crossover above 52750 with volume might lead to a new all-time high. The weekly and daily trends (50 SMA) are still positive. Banknifty might be highly volatile today due to the Budget session scheduled today. Support Levels: Near Support/Demand Zone (75m) for weekly trade: 51749 - 51966 Major Support/Demand Zone (Daily): 51138 - 51934 Resistance Levels: Near small supply/resistance zone (15m): 52482 - 52563 Far Supply/Resistance Zone (30m): 53064 - 53188
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY Intraday Trade Setup For 22 Jul 2024BANKNIFTY Intraday Trade Setup For 22 Jul 2024 Bullish- Above 52820 Invalid-Below 52710 T- 53357 Bearish-Below 52130 Invalid-Above 52240 T- 51549 BANKNIFTY has closed on a flat note with bearish sentiment as it has formed a shooting star candle in weekly TF. Last week we picked the range of 52800 and 52100, whole week the range was intact. Also I discussed that we will maintain a non- directional approach. This simple outlook worked very well and paid us. After a week of sideways momentum, we can expect a breakout in the coming week. We will trade on breakout of 52800 and 52100 next week. This range is also valid in daily TF, closing basis will give us more confirmation for short term apart from Intraday. 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 53357. For selling we need a 15 MIN candle close below 52130. T- 51549. 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
19 Jul 2024 - 5 swings on 18th, lower volatile day today vs N50BankNifty Stance Neutral ➡️ Last week we published a report stating our neutral stance, and that held up quite well as we stayed range bound this week. Technically we lost 0.23% ~ 119pts to end the week at 52221. NiftyIT was the main reason N50 swung up and down this week, esp on the 18th. BankNifty was not spared either, we had 5 swings that particular day and anyone who ran a non-directional straddle would have faced the heat. Luckily my algos went into some technical error & I got stopped out by 09.52 with a minor loss. We dropped 231pts ~ 0.44% in the first 4 minutes, then rose 502pts ~ 0.96% by 10.11, then fell by 484pts ~ 0.92% by 11.31. Then we had a super rally of 595pts ~ 1.14% till 14.27. From this peak, we fell 226pts ~ 0.43% till close. It makes me believe such intensity of madness usually appears at TOPS. BN was quite decent today, we fell only 0.67% today compared to 1.095 on N50, but we do not have enough clues to go short yet. We would like to begin the next week with a neutral stance and then take it up from there.  The budget is on Jul 23 and the volatility will definitely go up on Monday, I have not decided whether to run the algos on Monday & Tuesday or not.
NSE:BANKNIFTY
by viswaram
BankNifty Intraday Support & Resistance Levels for 19.07.2024On Thursday, BankNifty attempted to cross the crucial level of 52750, mentioned in the last post, and made a high of 52782.75 but failed to close above it, ending 223.90 points up at 52620.70. A decisive crossover above 52750 with volume might lead to a new all-time high. The weekly and daily trends (50 SMA) remain positive. Support Levels: Near Support/Demand Zone (15m): 52187 - 52315 Near Support/Demand Zone (75m) for weekly trade: 51749 - 51966 Major Support/Demand Zone (Daily): 51138 - 51934 Resistance Levels: Near small Supply/Resistance Zone (30m): 53064 - 53188
NSE:BANKNIFTY
by PriteshPalan
Banknifty analysis for 19/07/24.Banknifty on the weekly time frame is still forming an inside candle. If it crosses the previous weekl high of 52800, a bullish trade can be made. The hourly time frame, there is a inverted Head and Shoulder pattern and the high probability trade can be initiated as Nifty is trading around Life time high of 24800. There is chances of BN catching up with other index. Major Break out level :- 52800 Targets :- 53080, 53250 In case the market starts break down, trade only once it break the support zone of 52150-52200. Wait for the price action around the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
BankNifty Intraday Support & Resistance Levels for 18.07.2024On Tuesday, BankNifty stayed within a 300-point range before closing 59 points down at 52,396.80. A decisive crossover above 52,750 with volume might lead to a new all-time high. The weekly and daily trends (50 SMA) remain positive. Support Levels: Near Support/Demand Zone (75m) for weekly trade: 51,749 - 51,966 Major Support/Demand Zone (Daily): 51,138 - 51,934 Resistance Levels: Near small Supply/Resistance Zone (30m): 53,064 - 53,188
NSE:BANKNIFTY
by PriteshPalan
#BANKNIFTY BREAKDOWN 52500 STRONG LEVEL 18/07/2024BANKNIFTY shows consolidation in the previous session level at 52500 we all know that everyone supposes the market will crash at any time and BankNifty also shows the indication of a bearish move. The 23 July is the most important day for the F&O traders this is the day the budget is announced. Then we see the market sentiments where it goes either bullish or bearish. let's come to the point that the 52500 level is strong RESISTANCE. It is hazardous to say. if the market sustains at this level even after the budget is announced and shows some positive news or feed for the market. it's an indication that the market will crash by 20%-30% plus. L E V E L S:- Resistance- 52500 Support- 52000
NSE:BANKNIFTYShort
by TheGoldenRatio-6
#Banknifty directions and levels for July 16th.Bank Nifty: Bank Nifty maintained a range market in the previous session and may continue that today. We can try a range breakout trade: that's if the market breaks the previous day's high, we can expect a swing high to 52,878. On the other hand, if it declines, we should wait for a breakout below 52,263. If that happens, it may fall further to a swing low of 52,088. Even if it breaks either upside or downside, the premium might not increase much. So please take your positions based on your knowledge.
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY Intraday Trade Setup For 16 Jul 2024BANKNIFTY Intraday Trade Setup For 16 Jul 2024 Bullish-Above 52820 Invalid-Below 52710 T- 53315 Bearish-Below 52130 Invalid-Above 52240 T- 51600 BANKNIFTY has closed with a slight gain of 0.34% gain today. It has formed a neutral candle in daily TF also nothing triggered as per trade setup. It was said in weekend that weekly range is 52800 and 51700, we need to maintain non-directional approach till index is inside this range. For tomorrow, a zone a has been formed. 52820 and 52130 are levels to watch out. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 52820 then we will long for the target of 53315. For selling we need a 15 Min candle close below 52130. T- 51600. 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 today 15 July 24As we discussed, BANKNIFTY opened in a sideways zone, touched the resistance zone, and then fell nicely and ended up sideways closing. If we look at the chart now: The market is trading near the support zone. The market is making the Inverted HNS, which shows the market can be bullish today as the right shoulder is yet to complete. I have illustrated both cases in the chart to see if it opens a gap down or a gap up. Support levels : 52086, 51778, 51318 Resistance levels : 52657, 53178 If we look at the OI data: PCR = 0.78 shows mild bullish market behavior. There is good PE writing on 52000 levels, which shows a good support point. On the other hand, 52500 has very good resistance as having the highest CE writing. Reason: RSI is 40 - 60, showing the market is going to be a sideways structure. Price > EMA(13, 50, 200) shows bullisah market structure. PCR = 0.78 shows that the market is mildly bullish. Price < VWAP shows a bearish market structure. Verdict: Neutral Bullish Plan of action: wait for 15 min candle. Wait for good price action on the 52000 levels, and make your positions accordingly.
NSE:BANKNIFTY
by finnova_
1
#Banknifty directions and levels for July 15th.> Bank Nifty has a range-bound sentiment. If the initial market takes a pullback, we can expect a range between the previous day's low and 52666. In this case, the rally will continue only if it breaks the level of 52666. > Alternatively, if the gap-up doesn't sustain, the same range-bound market may occur. If the initial market declines, it may continue the range between the previous day's high and 52090 or 78%. Here, the correction will continue only if it breaks the 78% Fibonacci level.
NSE:BANKNIFTY
by Manickamtraders