BANKNIFTY Prediction 12 Jan 24As we discussed, Banknifty has been moving in the range. Yesterday, it tried to break it to the downside, but the bulls came into power and again pushed back into the channel.
Today, it opened a gap up and took resistance to the trendline, mostly having a sideways day. Again tried to break it to the downside, but the Bulls again pulled it back.
Now, it's in the support zone. If it again breaks to the downside, it might give a nice momentum to the downside with a target of 47000. but if it breaks the trendline to the upside, it will be rejected from 200 EMA and might result in a sideways day again.
If we see OI data, PCR = 0.80 weekly, which is neutral. But the monthly expiry PCR is 0.90, which leans towards the bulls side. Now, If it breaks the downside, a fall can be expected of 400 points. Otherwise, It might result in a sideways day in a range of 47450-48000.
Reasons:
Price < EMAs shows a bearishness in the market. (Bearish)
RSI = 50, which is 40-60, mostly ends up a sideways day. If it breaks 60, it is upside bullish, or if it breaks 40, it is downside bearish; otherwise, sideways, 40-60 can be expected.
OI shows PCR = 0.8 which is neutral.
BN is making a descending triangle pattern that shows demand for an asset is weakening, so there are higher chances of breaking to the downside.
Price < VWAP, which shows the bearishness. (Bearish)
Verdict:
Bearish if it breaks to downside AND sideways in the RANGE.
Plan of action:
Wait for 15 min to see Price action at opening; then place trades accordingly.
Bankniftyanalysis
Bank Nifty - 12/01/2024 - LevelsHello Traders, Welcome to SriTrader5121
--------------------------------------------------
Bank Nifty - 12/01/2024 - Levels
IMPORTENT ZONE FOR THE DAY: 47410 – 47440
Important Support and Resistance for the Day...
Support - Resistance -
Support-1: 47235 Resistance-1: 47560
Support-2: 47140 Resistance-2: 47660
Support-3: 47000 Resistance-3: 47820
Support-4: 46810 Resistance-4: 48000
____________________________________________
Happy Learning and Trading – TST5121
Rules to fallow...
1) Trade with Strict Stop Loss.
2) Trade with Small Quantity.
3) Take entries based on Support & Resistance Levels.
Please take the trade according to the levels marked, with Risk-Reward.
This is not a Buy or Sell recommendation to anyone.
Take entries after your own analysis.
This is for education purpose and a helping hand to learn trading in market.
NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level.
I hope you all like my analysis. Follow me to get regular updates.
Please do share your thoughts in comment section.
Please Hit a LIKE, it motivates me to do analysis and do share with your trading friends.
SHORT FORM &FULL FORM
0.5 -> 0.5% Swing
PDH -> Previous Day High
PDL -> Previous Day Low
PDC -> Previous Day Close
PDO -> Previous Day Open
PWH -> Previous Week High
PWO -> Previous Week Open
PWC -> Previous Week Close
PWL -> Previous Week Low
D_S -> Day Support
D_R -> Day Resistance
W_S -> Week Support
W_R -> Week Resistance
W_O -> Week Open
W_C -> Week Close
LW_O -> Last Week Open
LW_C -> Last Week Close
IMP -> Important
R@1, R@2, R@3... -> Resistance-Zones
S@1, S@2, S@3... -> Support-Zones
MS -> Major Support
SH -> Swing-High
SL -> Swing-Low
DT -> Double Top
DB -> Double Bottom
TT -> Triple Top
TB -> Triple Bottom
TF -> Time Frame
BO -> Break-Out
RR -> Risk-Reward
SL -> Stop-Loss
GAP -> The area b/w Previous Day Close and Today Open
Blue Color Text (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals)
If market open as a FLAT and moves to UP - SIDE then BUY with the Support of R-1 and SELL with the Rejection of R-1.
(Or)
If market open as a FLAT and moves to DOWN - Side then BUY with the Support of S-1 and SELL with the Rejection of PDL.
Possibility 2: GAP-UP
If market open as a GAP - UP and moves to UP - Side then BUY with the Support of PDH and SELL with the Rejection of PDH.
(Or)
If market open as a GAP - UP and moves to DOWN - Side then BUY with the Support of IMP and SELL with the Rejection of IMP.
Possibility 3: GAP-DOWN
If market open as a GAP - DOWN and moves to UP - Side then BUY with the Support of IMP and SELL with the Rejection of IMP.
(Or)
If market open as a GAP - DOWN and moves to DOWN - Side then BUY with the Support of W-R and SELL with the Rejection of W-R.
Nifty & Bank Nifty Analysis For 12 Jan 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!
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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.
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BANKNIFTY Intraday Trade Setup For 12 Jan 2024BANKNIFTY Intraday Trade Setup For 12 Jan 2024
Bullish-Above 47670
Invalid-Below 47560
T- 47960 48265
Bearish-Below 47230
Invalid- Above 47340
T- 46900 46580
BANKNIFTY has closed closed on a flat note with a minor gain of 0.16% today. It was range bound market the whole day except 2 PM fall and recovery. It has formed a spinning top candle which caters a indecision sentiment. Looks like bears will try to close the week in their favor to cater bearish weekly sentiment. They will get into action below 47230. In case today's low is safe and it breaks 47670 then chances of a bullish move. Best will work on a flat opening or opening between 47665-47235.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 47670 then we will long for the target of 47960 and 48265.
For selling we need a 15 min candle close below 47230. T- 46900 and 46580.
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.
#Banknifty directions and levels for JAN 11th.#Banknifty
Banknifty still has a bearish sentiment, but here also, if the gap-up sustains, we can expect further pullback continuation. On the other hand, if it rejects around the 38% (immediate resistance), or if the initial market declines, then it might turn into a range market. Structurally, it might break downside. But we could wait for the proper breakout, either upside or downside, and then we can enter a breakout trade.
BANKNIFTY Intraday Trade Setup For 11 Jan 2024BANKNIFTY Intraday Trade Setup For 11 Jan 2024
Bullish-Above 47430
Invalid-Below 47320
T- 47835 48265
Bearish-Below 47000
Invalid-Above 47110
T- 46580 46100
BANKNIFTY has closed on a slight bullish note with 0.25% gain today. It opened with a slight gap down and tested 47000 zone via gap up. Immediate and sharp bounce came from psychological support in a single candle. Later it just consolidated the whole day. Tomorrow if it opens flat and sustains 47430 then it can show one more upside move towards 47800 in intraday. Weekly CIP support is 46300 zone. Below 4700 if it slips then bears will take charge.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 47430 then we will long for the target of 47835 and 48265.
For selling we need a 15 Min candle close below 47000. T- 46580 and 46100.
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.
Banknifty - Intraday levels & Prediction for 11 Jan 2024Banknifty Prediction for Tomorrow
Banknifty looks weak when comparing with Nifty, currently its trading below Previous week low. We can expect reversal either from PWL, or PDH
BNF target for upcoming days is 46400 and below
Look for Buy/Sell at Demand and Supply zone for profitable trades.
Demand and Supply Zones - When price breaks the zone, Demand zone will become Resistance and Supply zone will become Support.
Refer the chart for detailed Intraday Support and Resistance levels.
Happy Trading!!
Bank Nifty - 11/01/2024 - LevelsHello Traders, Welcome to SriTrader5121
--------------------------------------------------
Bank Nifty - 11/01/2024 - Levels
IMPORTENT ZONE FOR THE DAY: 47190 – 47220
Important Support and Resistance for the Day...
Support - Resistance -
Support-1: 47220 Resistance-1: 47430
Support-2: 47010 Resistance-2: 47600
Support-3: 46810 Resistance-3: 47855
Support-4: 46500 Resistance-4: 48000
____________________________________________
Happy Learning and Trading – TST5121
Rules to fallow...
1) Trade with Strict Stop Loss.
2) Trade with Small Quantity.
3) Take entries based on Support & Resistance Levels.
Please take the trade according to the levels marked, with Risk-Reward.
This is not a Buy or Sell recommendation to anyone.
Take entries after your own analysis.
This is for education purpose and a helping hand to learn trading in market.
NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level.
I hope you all like my analysis. Follow me to get regular updates.
Please do share your thoughts in comment section.
Please Hit a LIKE, it motivates me to do analysis and do share with your trading friends.
SHORT FORM &FULL FORM
0.5 -> 0.5% Swing
PDH -> Previous Day High
PDL -> Previous Day Low
PDC -> Previous Day Close
PDO -> Previous Day Open
PWH -> Previous Week High
PWO -> Previous Week Open
PWC -> Previous Week Close
PWL -> Previous Week Low
D_S -> Day Support
D_R -> Day Resistance
W_S -> Week Support
W_R -> Week Resistance
W_O -> Week Open
W_C -> Week Close
LW_O -> Last Week Open
LW_C -> Last Week Close
IMP -> Important
R@1, R@2, R@3... -> Resistance-Zones
S@1, S@2, S@3... -> Support-Zones
MS -> Major Support
SH -> Swing-High
SL -> Swing-Low
DT -> Double Top
DB -> Double Bottom
TT -> Triple Top
TB -> Triple Bottom
TF -> Time Frame
BO -> Break-Out
RR -> Risk-Reward
SL -> Stop-Loss
GAP -> The area b/w Previous Day Close and Today Open
Blue Color Text (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals)
If market open as a FLAT and moves to UP - SIDE then BUY with the Support of R-1 and SELL with the Rejection of R-1.
(Or)
If market open as a FLAT and moves to DOWN - Side then BUY with the Support of S-1 and SELL with the Rejection of PDL.
Possibility 2: GAP-UP
If market open as a GAP - UP and moves to UP - Side then BUY with the Support of PDH and SELL with the Rejection of PDH.
(Or)
If market open as a GAP - UP and moves to DOWN - Side then BUY with the Support of IMP and SELL with the Rejection of IMP.
Possibility 3: GAP-DOWN
If market open as a GAP - DOWN and moves to UP - Side then BUY with the Support of IMP and SELL with the Rejection of IMP.
(Or)
If market open as a GAP - DOWN and moves to DOWN - Side then BUY with the Support of W-R and SELL with the Rejection of W-R.
BankNifty Intraday Trade Setup | 11th Jan '24Today BankNifty opened with a gap-down near 47000 which was the physiological support zone and after giving a bounce towards 47350 odd levels in early morning, it remained in a small range on entire day and it was a typically options sellers day.
For tomorrow, BankNifty has to sustain above 47500 for further upside which can take BankNifty towards 47620 and upper levels. On the other side, if BankNifty breaks 47000 on downside, we expect to see 46880 and below marked levels on the chart.
Expectations: Volatile day.
Intraday Levels:
Buy Above - 47500
Sell Below - 47000
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
FASP levels for Bank Nifty 10/01/2024The FASP for BankNifty is listed for 10-01-2024. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities.
What is Fibolysis Anchor SupRes Points(FASP)?
It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds.
Validity of the levels: 1 Day
How to use these levels?
The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options.
Color Coding: Green is regular support and buying area, Red is strong exit area
Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
#Banknifty directions and levels for JAN 10.Structurally, Banknifty exhibits a solid bearish sentiment. However, if it finds support around the immediate demand zone, a minimum 38% pullback could be anticipated. If this pullback is sustained and breaks the 38% level, it might extend further. Conversely, if it doesn't find support within the immediate demand zone, the correction is likely to persist.
BANKNIFTY prediction for tomorrow 10 Jan 24As we discussed Banknifty bearishness yesterday, it opened a Gap-up and then took resistance at 200 EMA, then it fell with quite a nice volume. Also, it did break the pattern to the downside. Also, 47400 was acting as a very nice support but has been broken with good volume and selling pressure. The volume of those candles was very demanding. If we look at the OI data, it also suggests that PCR = 0.48, which is super bearish. And this much fall in OI has not been seen in the past 2-3 months. I am expecting a fall till 47000 as the first target and 46600 as 2nd target is achievable. All important levels have been marked on the chart.
I am expecting a bearishness in tomorrow’s session.
Reason:
The chart has broken to the downside, which shows a super bearish structure. (Bearish)
OI data shows PCR = 0.48, which is assumed to be the bearish market condition. Today, a large quantity of PE is being exited, which can be seen in the daily OI change. (Bearish)
RSI has dropped to the bearish zone (<40), which shows very weak bulls in the market. (Bearish)
Price < EMAs that shows price is weaker; Supply > Demand (Bearish).
according to GIFTNIFTY, the market might open a Gap-up and then fall from the price action level marked in the chart.
Price < VWAP shows bearishness, which might lead to a good fall. (Bearishness)
It is making HNS, which is at the top of the Bull trend that might lead to a very bearish structure. (Bearish)
Verdict:
Super Bearish
Plan of action:
Bearish if it rejects the 47400 level; otherwise, wait for PA at 47400.
Note: PA = Price Action
BANKNIFTY Intraday Trade Setup For 10 Jan 2023BANKNIFTY Intraday Trade Setup For 10 Jan 2023
Sell_1- From 47710
Invalid-Above 47820
T- 47430 47200
Sell_2- Below 47150
Invalid-Above 47260
T- 46780 46355
BANKNIFTY has closed on a bearish note with 0.44% cut today. As per previous day trade plan we planned a short from 47930, according to simple half bat pattern. Sell triggered @ 47930 and what a fall we got. It gave a move of more than 700 points in favor, however main move came after 2 PM. Tomorrow once again we will plan for a sell below day low only on slight gap up to flat opening. 47705 will be an important intraday resistance.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes below 47150 then we will short for the target of 46780 and 46355.
2nd short can be considered from 47705 in case of a flat to gap up opening. T- 47430 and 47200.
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.
Banknifty weekly expiry levels for 10/01/24.Banknifty has given fall in the second half and fell almost 700 points from the day high.
Now the market has confirmed a bearish trend as it has been forming a lower low lower high formation.
It is taking support from 200 hourly ema and closed 200 points lower.
Tomorrow is weekly expiry and anything below 47150 will drag banknifty to test 46920 levels.
Major support :- 47150, 4920
Resistance :- 47450, 47860
If there is a consolidation on the levels and gives a break down good points can be capture, else it can take a halt after a 2 days fall.
Wait for the price action near the levels before entering the trade.
Bank Nifty - 10/01/2024 - LevelsHello Traders, Welcome to SriTrader5121
--------------------------------------------------
Bank Nifty - 10/01/2024 - Levels
IMPORTENT ZONE FOR THE DAY: 47430 – 47455
Important Support and Resistance for the Day...
Support - Resistance -
Support-1: 46950 Resistance-1: 47430
Support-2: 46500 Resistance-2: 47850
Support-3: 46000 Resistance-3: 47940
Support-4: 45900 Resistance-4: 48320
____________________________________________
Happy Learning and Trading – TST5121
Rules to fallow...
1) Trade with Strict Stop Loss.
2) Trade with Small Quantity.
3) Take entries based on Support & Resistance Levels.
Please take the trade according to the levels marked, with Risk-Reward.
This is not a Buy or Sell recommendation to anyone.
Take entries after your own analysis.
This is for education purpose and a helping hand to learn trading in market.
NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level.
I hope you all like my analysis. Follow me to get regular updates.
Please do share your thoughts in comment section.
Please Hit a LIKE, it motivates me to do analysis and do share with your trading friends.
SHORT FORM &FULL FORM
0.5 -> 0.5% Swing
PDH -> Previous Day High
PDL -> Previous Day Low
PDC -> Previous Day Close
PDO -> Previous Day Open
PWH -> Previous Week High
PWO -> Previous Week Open
PWC -> Previous Week Close
PWL -> Previous Week Low
D_S -> Day Support
D_R -> Day Resistance
W_S -> Week Support
W_R -> Week Resistance
W_O -> Week Open
W_C -> Week Close
LW_O -> Last Week Open
LW_C -> Last Week Close
IMP -> Important
R@1, R@2, R@3... -> Resistance-Zones
S@1, S@2, S@3... -> Support-Zones
MS -> Major Support
SH -> Swing-High
SL -> Swing-Low
DT -> Double Top
DB -> Double Bottom
TT -> Triple Top
TB -> Triple Bottom
TF -> Time Frame
BO -> Break-Out
RR -> Risk-Reward
SL -> Stop-Loss
GAP -> The area b/w Previous Day Close and Today Open
Blue Color Text (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals)
If market open as a FLAT and moves to UP - SIDE then BUY with the Support of R-1 and SELL with the Rejection of R-1.
(Or)
If market open as a FLAT and moves to DOWN - Side then BUY with the Support of S-1 and SELL with the Rejection of PDL.
Possibility 2: GAP-UP
If market open as a GAP - UP and moves to UP - Side then BUY with the Support of PDH and SELL with the Rejection of PDH.
(Or)
If market open as a GAP - UP and moves to DOWN - Side then BUY with the Support of IMP and SELL with the Rejection of IMP.
Possibility 3: GAP-DOWN
If market open as a GAP - DOWN and moves to UP - Side then BUY with the Support of IMP and SELL with the Rejection of IMP.
(Or)
If market open as a GAP - DOWN and moves to DOWN - Side then BUY with the Support of W-R and SELL with the Rejection of W-R.
BANKNIFTY Intraday Trade Setup For 09 Jan 2023BANKNIFTY Intraday Trade Setup For 09 Jan 2023
Sell_1- From 47930
Invalid-Above 48040
T- 47650 47400
Sell_2- Below 47380
Invalid-Above 47490
T- 46920 46635
BANKNIFTY has closed on a bold bullish note with 1.47% cut today. Sell triggered as per trade setup below 47820 and hit 1st target EOD (47820-47390). On a flat opening below today's low there an be another round of selling. Index may do a CIP structure in weekly TF , CIP support will 46300 zone. Incase it opens gap up and testes 47930 then we will short from there. Best trade will be short below day low on flat opening. Hourly support is 46900.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes below 47380 then we will short for the target of 46920 and 46635 (extreme).
2nd sell can be opened from 47930 in case of fat opening or gap up. T- 47650 and 47400.
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.