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Bankniftyanalysis

16 May 2024 - BankNifty goes bullish, strong intraday rallyBankNifty Analysis — Stance Bullish ⬆️ The stance on BN also revised to bullish not because we took out the resistance, but due to the 707pts ~ 1.5% intraday rally that came right from the support level. Usually, powerful moves like this will have extended legs that could start appearing in days to follow. We only need to know whether the move came out from a news event or not because if it did, then no amount of technical analysis can codify it. BN has also formed a W pattern showing bullishness. On the 63mts TF, the final candle of the day almost fills the gap between the support and resistance. Hoping to see follow through tomorrow. The algos were at a loss today, understandably so because of the wild swings we got today.
NSE:BANKNIFTYLong
by viswaram
BANKNIFTY Intraday Trade Setup For 17 May 2024BANKNIFTY Intraday Trade Setup For 17 May 2024 Bullish- Above 48070 Invalid-Below 47960 T- 48665 Buy_2- From 47650 Invalid- Below 47540 T- 48100+ BANKNIFTY has closed on a bullish note with 0.61% gain today. It was just too volatile the whole day. Twice it got sold into with a deep pullback. Index gave a sharp recovery and closed near day high. It has formed a Pin-bar candle in daily TF, above today's high we can expect good up move towards 48665. Index may find intra support near 47650 zone. We will maintain bullish view tomorrow but with TSL in 5 MIN TF. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 48070 then we will long for the target of 48665. 2nd buy can be done from 47650 zone. T- 48100+. 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
Banknifty Prediction for tomorrow 17 May 24As we discussed Banknifty sideways or Bullish; it ended-up sideways with high volatility. If we look at the chart: The market is trading at resistance (Price action + 200 EMA resistance) right now. the important levels for tomorrow are 47401, 47000 will be working as very good support. while 200 EMA, 47970, and 48332 will be working as nice resistance. If we look at OI data: PCR = 0.88 shows bullish structure. if we notice today after 11 AM they is a very heavy CE winding up in the market. 48000 CE was removed approx 33% that shows big players are winding up CE positions in heavy quantity. which might push the market to upside. FII and DII not yet available. I nam expecting market to go Higher in uppcoming sessions. Reasons: RSI crossing 60 to upside that might be a starting of new bullish trend. Price > EMA (13) but less than 200 EMA(resistance), which shows the market still has to break 200 EMA to go bullish. PCR = 0.88 shows a bullish sign. Price > VWAP means bulls are getting strength. The market has already given a breakout it was a good accumulation today; soon, it will shoot to the upside. Verdict: Sideways or Bullish Plan of action: Sell 48000 CE and 47600 PE (Hedge with 20/- Premium)
NSE:BANKNIFTYLong
by finnova_
#Banknifty directions and levels for May 16th.BankNifty also has the same sentiment. The market may start with a gap-up. After that, if it breaks or consolidates around the immediate resistance zone, then it may continue the rally and could reach a minimum of the minor swing high to 48424. Alternatively, if the market rejects sharply around the immediate resistance zone, initially we can expect a 23 to 38% correction. After that, if it breaks the 38% Fibonacci level, we can expect the correction to continue to the level of 78% to the next 1.27 extension. On the other hand, if it finds support around the minor Fibonacci level of 38%, then the market will maintain the bullish bias.
NSE:BANKNIFTY
by Manickamtraders
7
15 May 2024 - Banknifty in neutral territory, break 47465 for 🐻BankNifty Analysis — Stance Neutral ➡️ BN ended the day with cuts of -172pts ~ -0.36%. We went neutral after the price action on 13th May. After that, we had one up day (14th) and a down day (15th) — the result, we are back in the neutral territory. BN did not even go to the 48115 levels which came as a surprise. Ideally, on 16th there may be an attempt to take out 48115 resistance, only then the Bulls can exert their dominance. If it stays like this, we get another lower low formation and it would mean the Bears will come back much stronger. Only if 47465 is broken, we will change our stance from neutral to bearish. The algos made a super profit of 45596 INR today.
NSE:BANKNIFTY
by viswaram
BANKNIFTY Intraday Trade Setup For 16 May 2024BANKNIFTY Intraday Trade Setup For 16 May 2024 Bullish-Above 47970 Invalid-Below 47860 T- 48510 Bearish-Below 47500 Invalid-Above 47610 T- 46950 BANKNIFTY has closed on a bearish note with 0.36% cut today. Since last 2 sessions index has stuck between 48000 and 47500. As per discussed analysis in the weekend we discussed the possibility of halt of the downtrend or reversal. Index has taken a halt which is common before reversal. We will trade on the range breakout of 48000 and 47500. Maintain neutral/sideways view between this range. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 47970 then we will long for the target of 48511. For selling we need a 15 Min candle close below 47500. T- 46950. 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 16 May 2024Banknifty has been Bearish for the last two weeks. Now, Bank Nifty is in the support zone. If we look at the chart now: Banknifty has successfully broken the bearish trend to the upside. It gave a nice V-shape recovery. But big players have not accumulated the quantity, and that's why there was huge volatility yesterday. The market has taken support at Fib 0.38 of the current minor trend. It is in range bound 47578-47935. if it breaks 47935 to the upside, the market can form a higher high till 48432. If we look at the OI data: PCR = 0.86, which shows that next week's market is bullish. That's why big players are accumulating the quantity at lower levels. There is only a significant level of resistance at 48000—other than that, all levels have very normal CE and PE writing. I am expecting the market to go bullish for next week's expiry and sideways for tomorrow's session : Reasons: RSI is 40-60 shows the market is going to be sideways. Price ~= EMA (13) but less than 200 EMA, which shows the market still has to break 200 EMA to go bullish. PCR = 0.86 shows a bullish sign for tomorrow. But as it is the 1st day of the expiry session, it will not make much difference. The market taking support from the Lower channel of Vwap means bulls are getting strength. The market has already given a breakout after little accumulation; soon, it will shoot to the upside. Market has been providing good volume at buying candles shows upcoming bullish market structure. Verdict: Sideways or Bullish Plan of action: Sell 48000 CE and Sell 47600 PE (Hedge with 20/- Premium)
NSE:BANKNIFTYLong
by finnova_
Banknifty Analysis & Prediction in DTFThis is the analysis of Banknifty in Daily Time Frame. Watch carefully. The chart explains itself. There are some prediction levels. These Levels act as Support and Resistance according to position of price. You have to trade according to level breakout or breakdown. Always maintain your risk management. Book your profit according to your “STOMACH”. Disclaimer: This is not investment advice. I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult your Financial Advisor before taking any decision or trade. Happy trading.
NSE:BANKNIFTY
by suraranjanganguli
14 May 2024 - BN needs a bit more thrust to go BullishBankNifty Analysis - Stance Neutral ➡️ The definition of a neutral stance was much more suited for BN rather than N50 today. See the short-range in which BN operated today and notice the slow grind. Even then the volatility was very high, take a look at the HDFC Bank price moves today. How does the elephant move like that? BankNifty may not go bullish even if 48115 resistance level is taken out, it may need a bit more thrust for a change in stance. The reason is because the downfall was quite sharp and before changing the stance, we need to make sure that a higher low is not getting formed. Algos ended the day with gains of 8064 INR. Ideally, it should have made more as the chart was stable - but the volatility ensured the premiums were skewed causing unplanned losses earlier in the day.
NSE:BANKNIFTY
by viswaram
BANKNIFTY Intraday Trade Setup For 15 May 2024BANKNIFTY Intraday Trade Setup For 15 May 2024 Bullish-Above 47950 Invalid-Below 47840 T- 48511 49050 Bearish-Below 47600 Invalid-Above 47710 T- 47000 BANKNIFTY has closed on a slight bullish note with 0.22% gain today. It was total consolidation day, index traded between 47900 and 47600 for the whole day. Nothing triggered as per trade setup today. It has regained 50 EMA in daily TF. In the weekend we discussed in detail about the possibility of halt or reversal of the downmove due to the confluence of the 50 EMA and an inverted hammer on it in daily TF. 48000 will be an important short covering level. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 47950 then we will long for the target of 48510. For selling we need a 15 Min candle close below 47600. T- 47000. 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 Support & Resistance Levels for 14.05.2024BankNifty found substantial support within the second support zone highlighted in the previous post, triggering a remarkable rally of over 800 points from the day's low. The near support zone remains unchanged, spanning from 46870 to 47015, with a further support level observed at 46547, a significant Fibonacci level at 61.8%. On the resistance front, the nearest zone for BankNifty is expected between 48051 and 48146, while a more distant resistance zone lies at 48222 to 48457.
NSE:BANKNIFTYShort
by PriteshPal
13 May 2024– BankNifty rallies 858pts ~ 1.83% intraday - NEUTRALBankNifty Analysis - Stance Neutral ➡️ Just when we thought the 47465 was getting broken for good, we got a pullback. We fell 527pts ~ 1.11% by 10.39 and then the pull back was a whopping 858pts ~ 1.83%. The final close was almost the midpoint of 48115 and 47465 which prompted me to change the stance to neutral for tomorrow. The bulk of the heavy lifting came from HDFC Bank in this dramatic reversal by BN. Just when I thought HDFC may break 1425 for another round of collapse - we get a sharp reversal. It rallied an amazing 29pts ~ 2% to change the entire narrative. On the 63mts TF, BN might try to take out the 48115 resistance tomorrow itself. In case the markets figure out that the reversal was not technical but due to front running, news, or event related - we could see repeat buyers (if news was true) and a sharp fall (if the news was planted and false). Algos forward test is shown as generating 5764 INR, but the day was in loss today - this must be again due to slippage.
NSE:BANKNIFTY
by viswaram
Nifty & Bank Nifty Analysis For 14 May 2024In this video, we'll discuss about Today's Market Movement and Tomorrow's Analysis in Nifty, Banknifty and other segments too. Whether you're a seasoned trader or just starting in the stock market, this analysis will help you in Learning about Market. Let's get right into it! ✅I hope you liked the analysis. Be sure to hit that LIKE. 👍Like | 💬Comment | 👥Share Disclaimer : All views and charts shared in this video are purely for knowledge and information purposes only. Trading is Very Risky Business and it should only be done with proper Knowledge. It is very important to do your own analysis before making any investment based on your own personal circumstances.
NSE:NIFTYLong
by TheStockMantra
BANKNIFTY Intraday Trade Setup For 14 May 2024BANKNIFTY Intraday Trade Setup For 14 May 2024 Bullish-Above 47850 Invalid-Below 47740 T- 48480 Bearish-Below 47200 Invalid-Above 47310 T- 46650 BANKNIFTY has closed on a bullish note with 0.74% gain today. Index respected the lower trendline support of the channel pattern it is following. In the weekend also we discussed that there is a possibility of halt or reversal due the confluence of the 50 EMA and an inverted hammer over that. Possibility of gap up looks high tomorrow. Incase it opens directly near 48500 ,it can be sold into. Best trade will be in long side above 47850. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 47850 then we will long for the target of 48480. For selling we need a 15 Min candle close below 47200. T- 46650. 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 direction and levels for May 13th.>Banknifty also has the same consolidation structure, but wave counts are a little bit different from Nifty. So, if the initial market takes support around the immediate support level, then we can expect a minimum of a 23% pullback wave. If you want reversal confirmation, then you can use EMA 20 or a minor fib level 38% breakout. Alternatively, if the gap-down takes a solid bearish candle, then it may continue further with minor consolidation. Even though if it reaches the demand zone, we can expect consolidation only."
NSE:BANKNIFTY
by Manickamtraders