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Bankniftyanalysis

"Bank Nifty has broken all hurdles. Real breakout or fake?" Bank Nifty Monthly Chart Wave Analysis: June Candle: 2 more days left for the candle to close. Current Market Price: ₹51,575 We drew all possible resistance trendlines and channels, and Bank Nifty has clearly broken out above everything(just 3 days left for June candle to close), with the wave extending. Elliot Wave Analysis : Initially, we counted the October 2021 high as wave 3 in our past charts. However, the current momentum and breakouts suggest it could be wave 1, and we are possibly in wave 3 not wave 5th. REAL Breakout : BN will retrace slightly and then move up again with strong candles in the coming months and it shouldn't enter the big purple color channel and close below 50,100(July Candle closing). Buy on Dip: A good dip near 50,600-800 is a place to go long with a small stop loss below a 49900 day candle close. If entering at the current market price, the SL is the same. Possible Upside Targets : 53,700, 57,000 FAKE Breakout : The July candle will break the purple color fib channel, retest, and come down with huge red candles. The candle shouldn't close above the purple channel again. Sell on Rise: Sell only if the price breaks below the channel, around 49,900. In this case, short with a small SL. Possible Targets : 44,444, 40,000 Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions
NSE:BANKNIFTY
by WaveMoku
#Banknifty directions and levels for June 26th.Bank Nifty had a long rally, so if the market opens neutral to slightly gap-down, then structurally, it could also take a maximum 23 to 38% correction. After that, if it finds support around 38%, we can expect minor consolidation for the rally continuation. The alternative scenario differs a bit from Nifty. Bank Nifty has extended more compared to Nifty, so structurally, there is no possibility of a big correction, meaning the flat correction might not occur here. Conversely, if it breaks the 38% Fibonacci level, the zigzag variation may extend here, and that correction may reach a maximum of 61%. (Note: If the initial market takes a pullback and breaks the previous high, then the rally may continue further. However, the momentum could be less, so we can't expect a big rally. If we want a big rally, it would require a solid candle breakout or a minor consolidation around the immediate resistance level.)
NSE:BANKNIFTY
by Manickamtraders
2
BANKNIFTY Intraday Trade Setup For 26 Jun 2024BANKNIFTY Intraday Trade Setup For 26 Jun 2024 Bullish-Above 52760 Invalid-Above 52650 T- 53250 Bearish-Below 52240 Invalid-Above 52350 T- 51680 BANKNIFTY has closed on a bold bullish note with 1.74% gain today. Market was trendy after 12 PM as momentum came after that. Buy triggered as per trade setup above 51800 and hit 1st target 52700 very smoothly. Tomorrow if we get a pullback breakout of 52760 then once again bullish move can be seen. 52240 can act as an confluence zone as it is a probable intra support. In case it breaks 52240 then we will short. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 52760 then we will long for the target of 53250. 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
Bank Nifty 26-06-2024 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 519## Major Resistance - Around 529## 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 Analysis 26 JUNE Short-Term Caution Amid Anticipation📈 Bank Nifty Analysis: Short-Term Caution Amid Anticipation Last Analysis Review: From my previous Bank Nifty analysis on June 25, 2024, we observed that “Scenario 1” (Buy above Gap up opening with 30-minute closing above 52,000) played out accurately. Now, let’s delve into the current scenario. Analysis: June 26, 2024 Short-Term View: Caution is advised as the market rises on sentiments ahead of the FINAL BUDGET 2024 presentation. Long-Term View: Despite short-term optimism, the higher time frames (e.g., 4-hour or 1-day) reveal weak technical aspects for Bank Nifty. Strong candles with small wicks may signal a fake breakout. Private Sector Bank Rally: Analysts at Macquarie expect healthy ROAs and ROEs for private sector banks over the next three years. These banks remain steady compounding stories, less affected by ECL regulations. External Debt Update: India’s external debt stands at $663.8 billion as of end-March 2024, rising by $39.7 billion from the previous year. Trading Scenarios: Scenario 1 (Gap Up): If Bank Nifty opens above or around 52,900, watch for resistance at 53,000. Consider buying above 53,000 with caution. Scenario 2 (Gap Up with Resistance): If the price opens between 52,900 and 53,000, be prepared for resistance. Sell immediately within the first 15-30 minutes if a strong breakout above 53,000 doesn’t occur. Use a tight stop loss. Scenario 3 (Flat or Small Gap Down): Wait until Bank Nifty breaks below 52,349. ✅ Bank Nifty Support and Resistance Levels: Intraday Resistance Zone: 52,746 - 52,987 Intraday Resistance 1: 52,746 Intraday Resistance 2: 52,984 Intraday Resistance 3: 53,561 Intraday Support Zone: 52,537 - 52,460 Intraday Support 1: 52,460 Intraday Support 2: 52,300 Intraday Support 3: 52,000 🔍 Bank Nifty Options to Watch (June 26): Call Option: 52,700 CE Put Option: 52,500 PE Trade wisely and adapt to market dynamics! 🚀📊 #tradenxt #bankniftyanalysis #bankniftylivetrading #livetrading #stockmarketanalysis #stockmarketanalysis24june2024 #IntradayTrading #IntradayCalls #BankniftyPredictions #StockMarketPredictions #bankniftytomorrowprediction #niftyanalysis #niftypredictions #bankniftyoptions #niftyoptions #banknifty52700ce #banknifty53900ce #banknifty52500pe
NSE:BANKNIFTY
by kislaysumit
BANKNIFTY Prediction for tomorrow 26 JunAs we discussed, BANKNIFTY opened a side gap down and then gave a really nice bullish momentum to the upside. If we look at the chart now: The market has broken an all-time high and is going HH. I am expecting the market to move further upward till the 53000 as of now. Support levels: 52000, 51255, and 50494 resistance levels: 53185 and 54163 If we look at the OI data: PCR = 1.61, which has changed from 1.09, shows the very bullish nature of the market. Today, all CE seller exited their positions on lower levels. And new PE additions have been made on the lower side. 52500 is Max-pain. There is not a good resistance level on the higher side till 53000 right now. I am expecting the market to move with good volatility in the range of 52000-53185. Reason: RSI = 70, showing divergence, which might lead it to a sideways market. Price > EMA(13, 50, 200), which indicates the bull market. PCR = 1.33, which shows the market is strongly bullish. Price > VWAP shows a bull market structure. Verdict: Sideways or Bullish Plan of action: Sell 53000 CE and Sell 52000 PE (Hedge it with 20/- premium CE) Tomorrow is the expiry of trade with caution. There might be big fluctuations in the options premiums.
NSE:BANKNIFTY
by finnova_
BANK NIFTY - TIME TO SELL & RUN AWAY ?Symbol - BANKNIFTY CMP - 51720 BANKNIFTY is following a rising channel & headed towards its higher end. Currently It is trading 51600 - 51750 & trying to break it on upside. According to my analysis, BANKNIFTY will face strong resistance around round level 51500 - 52000 which is also upper end of the rising channel. In case it breaks it on upside, A breakout fail scenario is highly likely. I'm expecting Nifty Bank to show a reversal from these levels & It may witness a strong profit booking. Hence I am creating huge short positions in Bank Nifty July Futures at CMP 51720 I will add more position at 52000, if comes & will hold with SL of 52200 Targets I'm looking for on downside will be 49260 - 48000 & In case If it breaks this rising channel on downside, We may see huge fall till 45500 - 45600 which is the ultimate target if any major correction happens. RR is very favorable here. That's why taking more position than usual. 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
BN super BULLISH, next stop is 52500? 1:6 RR SetupBank Nifty was trading in a small range for last few days and completed time wise correction. Bears failed to hold it below 50050(.786 fib level), so high chances of hitting 100% and goes up in extension to hit the channel top. As per daily time frame Super Trend and fib channel we have a great opportunity in long with small SL. Stop Loss below 50130 candle close (1 hour) Targets - 51000, 52600 and 53000 Bank nifty is bullish in Monthly, weekly and hourly time frames as per Ichimoku. Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:BANKNIFTYLong
by WaveMoku
1
Banknifty analysis for tomorrow 24 Jun As we discussed, BANKNIFTY opened high at resistance and fell to 50 EMA. I also updated the chart during the day to protect profits. After that, it became a roller coaster having a sideways wild move. If we look at the chart now: The market is having huge volatility, taking support at 50 EMA again and again, which shows a healthy bullish structure. Support levels: 51275 and 50723 resistance levels: 51833 and 52400 If we look at the OI data: PCR = 1.08, which has changed from 1.09, shows mostly profit booking on both sides of the market. If we look at the last 2 hours, there was only CE and PE windoff. CE winding off was much larger than PE windoff. 51500 is working as max-pain. 52000 and 52500 have huge CE writing, and on lower levels, 51000 is going to provide very nice support as it has huge PE writing. If we look at CE writing, it is way more than PE writing today. I am expecting the market: Case 1 : Sideways in range 51275 - 51833 . Case 2 : Go with the breakout on either side; it breaks. Reason: RSI 40-60 indicating sideways momentum; Price > EMA(13, 50, 200), which indicates the bull market. PCR = 1.08, which shows the market is still in the bull's favor. Price > VWAP shows a bull market structure. Verdict: Sideways or Bullish Case 1 : Sideways in the range 51275 - 51833. Case 2 : Go with the breakout on either side; it breaks. Plan of action: Case 1 : Sideways-> Sell 51500 CE and 51500 PE (Hedge it with 20/- premium CE) Case 2 : Exit the opposite position on either side. It breaks the range.
NSE:BANKNIFTY
by finnova_
#Banknifty directions and levels for June25th.Good morning, friends! 🌺🍬 Here are the directions for June 25th: There is no significant difference. The global market is showing a moderately bullish sentiment, based on the Dow Jones. Our local markets are also maintaining this moderately bullish sentiment. However, today, the market may open with a neutral to slightly gap-up start, as indicated by GiftNifty, which shows an increase of 35 points (as of 8:00 AM). Nifty and BankNifty are still maintaining the range-bound structure, so structurally, today might continue in this manner. If we search for a range breakout, we can see a flag pattern (chart pattern) in both Nifty and BankNifty. This means yesterday's pullback has the flag pattern structure. But what is the probability here? I will explain it in detail. 1. The first thing is it's a range-bound market. 2. The second thing is there is a flag pattern formed within the range. 3. If we look at the nature of the flag pattern, it is a trend continuation pattern in a trending market. 4. But what's here? This is a range market, so the pattern's success probability is less. 5. So, if the market takes a bullish bias initially, we can expect 78% of the pole length in the flag pattern. After that, if it consolidates, then the rally will likely continue. Alternatively, if the gap-up doesn't sustain, then the range market will likely continue. Trading in a range market is a bit difficult. However, we could enter only if it breaks the downside 38% Fibonacci level.
NSE:NIFTY
by Manickamtraders
#Banknifty directions and levels for June25th. BankNifty has still maintaining the range-bound structure, so structurally, today might continue in this manner. If we search for a range breakout, we can see a flag pattern (chart pattern) in BankNifty. This means yesterday's pullback has the flag pattern structure. But what is the probability here? I will explain it in detail. 1. The first thing is it's a range-bound market. 2. The second thing is there is a flag pattern formed within the range. 3. If we look at the nature of the flag pattern, it is a trend continuation pattern in a trending market. 4. But what's here? This is a range market, so the pattern's success probability is less. 5. So, if the market takes a bullish bias initially, we can expect 78% of the pole length in the flag pattern. After that, if it consolidates, then the rally will likely continue. Alternatively, if the gap-up doesn't sustain, then the range market will likely continue. Trading in a range market is a bit difficult. However, we could enter only if it breaks the downside 38% Fibonacci level.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 25.06.2024BankNifty opened gap-down on Monday, reacted from the 125m demand zone mentioned previously, and closed near the day's high. The weekly trend (50 SMA) is positive, while the daily trend remains sideways. Support Levels: Near support/demand zone (125m) for weekly trades: 50,879 - 51,213 Near support/demand zone (30m) for intraday: 51,161 - 51,357 Far small support/demand zone (15m): 50,597 - 50,765 As the daily trend is still sideways, taking confirmation entries for long trades in the 125m demand/support zone is advised. There are no supply/resistance zones seen on the chart as of today.
NSE:BANKNIFTY
by PriteshPal
BANKNIFTY Intraday Trade Setup For 26 Jun 2024BANKNIFTY Intraday Trade Setup For 26 Jun 2024 Bullish-Above 52000 Invalid-Below 51890 T- 52550 Bearish-Below 51100 Invalid-Above 51210 T- 50570 BANKNIFTY jas closed on a flat note making it close inside 52k and 51100 range once again. Since last 3 sessions index has been trading inside this 900 points range. It opened with a gap down and 10 o'clock range was to be used as per trade setup, range broke upside above 51400 and gave a very good move till 51780. Tomorrow we will trade the discussed 900 points range breakout, keep non directional approach if not. Coming to Tuesday's trade setup, if index opens flat and a 5 Min candle closes above 52k then we will long for the target of 52550. For selling we need a 15 Min candle close below 51100. T- 50570. 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 Analysis 25 June Consolidation and Potential Breakout📈 Bank Nifty Analysis: Consolidation and Potential Breakout Since June 19th, Bank Nifty has been trading within a range of 51,136 to 51,944 after the Election Result Rally. Zooming out to a broader time frame, we observe price consolidation within this range, hinting at an imminent breakout to new highs. Scenarios: Scenario 1 (Gap Up): If Bank Nifty opens above or around 51,950, watch for resistance near 51,900. Consider buying if the price holds above 52,000 within a 30-minute time frame. Scenario 2 (Flat Opening): If the price breaks the 51,500 support zone, expect a test of strong support at 51,136. A hold above 51,136 could lead to movement toward the upper limit of the range (around 51,900). Scenario 3 (Gap Down): A gap-down opening with a break below 51,136 may result in a decline toward 50,500 and beyond. Strong breaks through support zones could trigger a significant breakdown toward 49,000 in the coming weeks. ✅ Bank Nifty Support and Resistance Levels: Intraday Resistance Zone: 51,700 - 51,800 Intraday Resistance 1: 51,800 Intraday Resistance 2: 51,944 Intraday Support Zone: 51,500 - 51,600 Intraday Support 1: 51,500 Intraday Support 2: 51,100 🔍 Bank Nifty Options to Watch (June 26): Call Option: 51,900 CE Put Option: 51,500 PE Remember to adapt your trading strategy based on these levels and scenarios. Happy trading! 🚀📊 #tradenxt #bankniftyanalysis #bankniftylivetrading #livetrading #stockmarketanalysis #stockmarketanalysis24june2024 #IntradayTrading #IntradayCalls #BankniftyPredictions #StockMarketPredictions #bankniftytomorrowprediction #niftyanalysis #niftypredictions #bankniftyoptions #niftyoptions #banknifty51900ce #banknifty51800ce #banknifty51500pe
NSE:BANKNIFTYShort
by kislaysumit
#Banknifty Directions and levels for june24th.Good morning, friends! 🌺🍬 Here are the directions for June 24th: The global market is showing a moderately bullish sentiment, based on the Dow Jones. Our local markets are also maintaining this moderately bullish sentiment. However, today, the market may open with a gap-down start, as indicated by GiftNifty, which shows a decrease of 75 points (as of 8:00 AM). Nifty and BankNifty have both been maintaining a range-bound structure, with no significant changes. However, GiftNifty is indicating a negative start today. If the market breaks below the current range, a correction may be expected. Conversely, if it finds support at the immediate support level, it will likely return to its range. This is the basic structure we are observing. Additionally, I will share one thing: it has been a long consolidation period, so if it breaks, it could lead to a sharp correction. To determine if the correction will continue, we should check the volume and open interest (OI). If both increase, we can assume the correction may continue further. If they do not, we can't expect a significant correction.
NSE:BANKNIFTY
by Manickamtraders
2
BankNifty Intraday Support & Resistance Levels for 24.06.2024BankNifty had a very volatile session on Friday and closed down 122 points. The weekly trend (50 SMA) remains positive, while the daily trend is still sideways. Support Levels: Near Support/Demand Zone (125m): 50,879 - 51,213 Far Support/Demand Zone (15m): 50,597 - 50,765 Given that the daily trend is still sideways, taking confirmation entries for long trades in the 125m demand/support zone is advisable. There is no visible supply/resistance zone on the chart, but selling pressure from higher levels is expected.
NSE:BANKNIFTY
by PriteshPal
Bank Nifty 24-06-2024 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 5100# Major Resistance - Around 5200# 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 Intraday Trade Setup For 24 Jun 2024BANKNIFTY Intraday Trade Setup For 24 Jun 2024 Bullish-Above 52000 Invalid-Below 51890 T- 52550 53111 Bearish-Below 51200 Invalid-Above 51310 T- 50570 49900 BANKNIFTY has closed on a bullish note with 3.32% gain last week. It is approaching 53100-500 zone in the coming days. I feel that chances of a top is between 53k zone. 53100-53250 can act as a strong resistance in intraday when tested. Since last 2 sessions index has traded between 52k and 51200, we will simply trade this range breakout. However it looks bullish as per the last session candle which is a Pinbar. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 52k then we will long for the target of 52550 and 53111. For selling we need a 15 Min candle close below 51200. T- 50570 and 49900. 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