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
Bankniftyanalysis
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.
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.
#BANKNIFTY INTRADAY CE & PE Levels- 08/07/2024Banknifty Trend was Intact on the up side has the potential long position or maybe continue sideways but there is a catch to show a shorting. So kindly ensure to take your trade after a few minutes (15-30 mins).
T A R G E T S:-
Support1- 52800
Support2- 52600
Support3- 52500
Resistance1-53300
Resistance2- 53100
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.
#Banknifty levels and direction for July 5th.Bank Nifty may open with a neutral to slightly gap-down start, after that If the market finds support around the immediate support level, then we can expect a range market. On the other hand, if it breaks the immediate support level, then we can expect the correction to continue.
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.
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.
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.
#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.
[INTRADAY] #BANKNIFTY PE & CE Levels(04/07/2024) Today will be gap up opening in BANKNIFTY. After opening if banknifty sustain above 53050 level then possible upside rally of 400-500 points upto 53450 level & this rally can extend another 400 points if market gives breakout 53550 level in todays session. Any Major downside only expected in case banknifty starts trading below 52950 level.
BankNifty Intraday Support & Resistance Levels for 04.07.2024BankNifty opened gap-up above the previously mentioned level of 52,735 and sustained above to make a new all-time high of 53,256.70. Both the weekly and daily trends (50 SMA) remain positive.
Support Levels:
Near Support/Demand Zone (125m): 51,996 - 52,379
Near Support/Demand Zone (75m): 51,510 - 51,784
Major Support/Demand Zone (Daily): 51,138 - 51,934
Currently, there is no supply zone seen on the chart.
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.
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.
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.
[INTRADAY] #BANKNIFTY PE & CE Levels(03/07/2024) Today will be gap up opening in BANKNIFTY. After opening if banknifty sustain above 52050 level then possible upside rally of 400-500 points upto 52450 level & this rally can extend another 400 points if market gives breakout 52550 level in todays session. Any Major downside only expected in case banknifty starts trading below 51950 level.also possible reversal downside 52450 level.
#Banknifty directions and levels for July 3rd.> BankNifty is totally different from Nifty. Today, the market also indicates a range-bound movement. We can expect the next movement only if it breaks the current range.
> If the market breaks the level of 52340 on the upside, we can expect a rally. On the other hand, if it breaks the demand zone on the downside, we can expect a continuation of the correction. This is the basic structure.
Alternatively, if it doesn't break either the upside resistance or the downside demand zone, it will remain in a range-bound market.
BankNifty Intraday Support & Resistance Levels for 03.07.2024BankNifty bounced from the 15m Demand Zone mentioned in the last post, rallying over 200 points from the day's low. However, selling pressure in most BankNifty constituents (except HDFCBANK) closed 406 points down at 52,168.10. Both the weekly and daily trends (50 SMA) remain positive.
Support Levels:
Near Support/Demand Zone (75m): 51,510 - 51,784
Major Support/Demand Zone (Daily): 51,138 - 51,934
Resistance Levels:
Near Minor Resistance/Supply Zone (5m): 52,374 - 52,472
Far Resistance/Supply Zone (15m): 53,060 - 53,181
Keep an eye on 52,735 in the 15m chart; any big green candle above this level may signal the start of a bull rally if sustained.
Bank Nifty 03-07-2024 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## and 5150#
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.
[INTRADAY] #BANKNIFTY PE & CE Levels(02/07/2024) Today will be gap up opening in BANKNIFTY. After opening if banknifty sustain above 52550 level then possible upside rally of 400-500 points upto 52950 level & this rally can extend another 400 points if market gives breakout 53050 level in todays session. Any Major downside only expected in case banknifty starts trading below 52450 level.also possible reversal downside 52950 level.
#Banknifty Directions and level for July 2nd.Banknifty has taken a minor pullback in the previous session. Structurally, it could be a B wave, so even if it takes a pullback, it could undergo a range-bound market.
So We can try a breakout entry: that if the market breaks the upside at 52793, we can expect a 78% target. Conversely, if it breaks the 38% level on the downside, we can expect it to reach the level of 52271 to demand zone.
BankNifty Intraday Support & Resistance Levels for 02.07.2024As mentioned in the previous post, BankNifty rebounded from the 75m demand zone and rallied almost 500 points from the day's low. Both the weekly and daily trends (50 SMA) remain positive.
Support Levels:
Near Support/Demand Zone (15m): 52,015 - 52,114
Major Support/Demand Zone (Daily): 51,138 - 51,934
Resistance Levels:
Near Minor Resistance/Supply Zone: 53,060 - 53,181