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Bankniftyanalysis

#BANKNIFTY - 13TH NOVEMBER!!NSE:BANKNIFTY #NIFTYBANK ⚡ Observe, understand, then implement 👍🏻 Chart contains support and resistance levels (understand how it works 👇🏻) Support and resistance are key concepts in technical analysis used to identify potential price levels where assets may reverse or stall. Support: -Definition: A support level is a price point where buying interest is strong enough to overcome selling pressure, preventing the price from falling further. - Indicators: Support levels can be identified through historical price data, trend lines, or moving averages. - Behavior: When a price approaches support, it may bounce back up. If broken, it can become a new resistance level. Resistance: - Definition: A resistance level is a price point where selling interest is strong enough to overcome buying pressure, preventing the price from rising further. - Indicators: Similar to support, resistance levels can be identified through past price action, trend lines, or moving averages. - Behavior: When the price approaches resistance, it may retreat. If broken, it can turn into a new support level. Importance: - Trade Decisions: Traders use these levels to make buy or sell decisions, set stop-loss orders, and identify potential profit targets. - Market Psychology: Support and resistance levels reflect market sentiment and the balance between supply and demand. Understanding these concepts can enhance trading strategies and improve decision-making. P.S note : im not SEBI REGISTRAR 🙏🏻 Any doubt 👉🏻 @thetradeforecast
NSE:BANKNIFTY
by thetradeforecast
1
BankNifty Intraday Support & Resistance Levels for 13.11.2024On Tuesday, BankNifty opened with a gap up, hitting a high of 52,169.05 before a sharp sell-off brought it down over 1,000 points to a low of 51,006.85, reaching the 30m demand zone highlighted in our last post. It closed at 51,157.80, down by 719 points. The Weekly and Daily Trends (50 SMA) both remain sideways. As BankNifty closed within the 30m demand zone, it has a chance to hold support around 50,900. If this level holds, a bounce to 51,650 or even 52,000 could be in play. However, if BankNifty falls below 50,900, it may slide further to the next major support at 49,959 or lower. Demand/Support Zones Near Support (30m): 50,900.10 - 51,230.85 (current price within the zone) Deeper Support (15m): 50,382.10 - 50,485.15 Major Support (Daily): 49,654.65 - 49,959.25 Far Support: 49,282.65 (61.8% FIBO) Extended Support (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Immediate Resistance (15m): 51,652.20 - 51,758.90 Higher Resistance (15m): 51,919.75 - 52,008.05 Key Resistance (30m): 52,232.35 - 52,396.50 Major Resistance (Daily): 52,817.80 - 53,235.25 Extended Resistance (Weekly): 53,741.40 - 54,467.35
NSE:BANKNIFTY
by PriteshPalan
2
#Banknifty directions and levels for November 12th.Bank Nifty Current View: It looks similar to the Nifty sentiment. If the market sustains the gap-up, it could reach a minimum of 52,093. This is a major resistance. After that pullback, if it rejects there, then it will close where it started the session. However, if it sustains or breaks this level, then the pullback will continue toward the level of 52,237 to 52,357. This is our first variation. Alternate View: The alternate view suggests that if the market declines and breaks the level of 51,736, then it could reach a minimum of 51,483 to 51,395.
NSE:BANKNIFTY
by Manickamtraders
#NIFTY - 12 TH NOVEMBER NSE:NIFTY #NIFTYBANK ⚡ Observe, understand, then implement 👍🏻 Chart contains support and resistance levels (understand how it works 👇🏻) Support and resistance are key concepts in technical analysis used to identify potential price levels where assets may reverse or stall. Support: -Definition: A support level is a price point where buying interest is strong enough to overcome selling pressure, preventing the price from falling further. - Indicators: Support levels can be identified through historical price data, trend lines, or moving averages. - Behavior: When a price approaches support, it may bounce back up. If broken, it can become a new resistance level. Resistance: - Definition: A resistance level is a price point where selling interest is strong enough to overcome buying pressure, preventing the price from rising further. - Indicators: Similar to support, resistance levels can be identified through past price action, trend lines, or moving averages. - Behavior: When the price approaches resistance, it may retreat. If broken, it can turn into a new support level. Importance: - Trade Decisions: Traders use these levels to make buy or sell decisions, set stop-loss orders, and identify potential profit targets. - Market Psychology: Support and resistance levels reflect market sentiment and the balance between supply and demand. Understanding these concepts can enhance trading strategies and improve decision-making. P.S note : im not SEBI REGISTRAR 🙏🏻 Any doubt 👉🏻 @thetradeforecast
NSE:NIFTY
by thetradeforecast
1
#BANKNIFTY - 11 NOVEMBER !!NSE:BANKNIFTY #NIFTYBANK ⚡ Observe, understand, then implement 👍🏻 Strategy name : Higher Highs and Higher Lows This strategy is commonly used in trending markets to identify potential buy opportunities during an uptrend. Key Components of the Strategy: 1. Higher Highs and Higher Lows: In an uptrend, price action creates successive peaks (higher highs) and troughs (higher lows). These are signals of bullish momentum, where buyers are consistently pushing prices higher. 2. Trend Channel: The image shows a channel formed by connecting the higher lows with a trendline (lower boundary) and higher highs with another trendline (upper boundary). This channel helps traders identify the price range within which the trend is moving. 3. Entry Points: - The strategy suggests buying near the trendline at each higher low, which represents a potential support area within the trend. In the image, these points are marked as "BUY" or "ENTRY." - Buying near these higher lows increases the chance of entering trades at favorable prices during pullbacks in the uptrend. 4. Profit Targets: - Profit targets are set near the upper trendline or at subsequent higher highs. In the image, these points are marked as "PROFITS" with checkmarks. - This method helps traders secure profits as the price reaches the higher end of the channel. Managing the Trade: - After the first entry and a successful profit, traders can re-enter the market on the next pullback to a higher low. - Stop losses are typically placed below the previous higher low to manage risk in case the trend reverses. Summary: This strategy aims to capture gains in a trending market by entering trades at higher lows and exiting near higher highs within a channel. It works well in a stable, consistent uptrend but requires careful monitoring of trend changes to avoid potential losses if the trend breaks down. Ps note : I'm not SEBI Registere 🙏🏻 Any queries @thetradeforecast 🇮🇳
NSE:BANKNIFTYLong
by thetradeforecast
1
BankNifty Intraday Support & Resistance Levels for 12.11.2024On Monday, BankNifty started flat, dipped to 51,294.20, then rallied up to 52,177.70, nearing the 30m supply zone. It closed at 51,876.75, adding 315 points over the previous close. Both the Weekly and Daily Trends (50 SMA) remain sideways. Key demand and supply zones are unchanged from the last post. Demand/Support Zones Near Support (30m): 50,900.10 - 51,230.85 Minor Support (15m): 50,382.10 - 50,485.15 Deeper Support (Daily): 49,654.65 - 49,959.25 Extended Support: 49,282.65 (61.8% FIBO) Major Support (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Near Resistance (30m): 52,232.35 - 52,396.50 Key Resistance (Daily): 52,817.80 - 53,235.25 Extended Resistance (Weekly): 53,741.40 - 54,467.35
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 11.11.2024On Friday, BankNifty opened slightly negative, reaching a high of 52,007.15 and dipping to a low of 51,494 before closing at 51,561.20, down 355 points from the previous close. Both the Weekly and Daily Trends (50 SMA) remain sideways. Key demand and supply zones are unchanged from the last update. Demand/Support Zones Near Support (30m): 50,900.10 - 51,230.85 Minor Support (15m): 50,382.10 - 50,485.15 Major Support (Daily): 49,654.65 - 49,959.25 Deep Support: 49,282.65 (61.8% FIBO) Extended Support (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Near Resistance (30m): 52,232.35 - 52,396.50 Key Resistance (Daily): 52,817.80 - 53,235.25 Extended Resistance (Weekly): 53,741.40 - 54,467.35
NSE:BANKNIFTY
by PriteshPalan
BANK NIFTY MAJOR BLOWOFF TOP ₹₹₹₹BankNifty have this Trend-line support from Covid lows till now every time BankNifty taking support & bounce back but this time it will be difficult for BankNifty to save Trend-line support & can give breakdown then we can see major selling in BankNifty for lower levels with BlowOff Tops in All Global Markets. So be careful in trading BankNifty & consults your adviser before any trades. I am waiting for breakdown of trend line & 50055 levels then only I will make short position Target for downtrend will be T1- 48555, T2- 46077, T3- 44144, T4- 41855, T5- 39444, T6- 37711, T7- 35655, T8- 33933, T9- 32622 with StopLoss 53355 & trailing with target achieving. Thank You & Happy Trading
NSE:BANKNIFTYShort
by K_Dyadav
BankNifty Intraday Support & Resistance Levels for 08.11.2024On Thursday, BankNifty opened flat, hit a high of 52,377.25, and then declined to a low of 51,752.25. It closed at 51,916.50, down by 400 points from the previous close. Both the Weekly and Daily trends (50 SMA) remain sideways, signalling a cautious approach. Demand/Support Zones Near Support (30m): 50,900.10 - 51,230.85 Key Support (15m): 50,382.10 - 50,485.15 Major Support (Daily): 49,654.65 - 49,959.25 Deep Support: 49,282.65 (61.8% FIBO) Extended Support (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Near Resistance (30m): 52,232.35 - 52,396.50 Major Resistance (Daily): 52,817.80 - 53,235.25 Extended Resistance (Weekly): 53,741.40 - 54,467.35
NSE:BANKNIFTY
by PriteshPalan
#BANKNIFTY - 8TH NOVEMBER!!NSE:BANKNIFTY #NIFTYBANK ⚡ Observe, understand, then implement 👍🏻 Chart contains support and resistance levels (understand how it works 👇🏻) Support and resistance are key concepts in technical analysis used to identify potential price levels where assets may reverse or stall. Support: -Definition: A support level is a price point where buying interest is strong enough to overcome selling pressure, preventing the price from falling further. - Indicators: Support levels can be identified through historical price data, trend lines, or moving averages. - Behavior: When a price approaches support, it may bounce back up. If broken, it can become a new resistance level. Resistance: - Definition: A resistance level is a price point where selling interest is strong enough to overcome buying pressure, preventing the price from rising further. - Indicators: Similar to support, resistance levels can be identified through past price action, trend lines, or moving averages. - Behavior: When the price approaches resistance, it may retreat. If broken, it can turn into a new support level. Importance: - Trade Decisions: Traders use these levels to make buy or sell decisions, set stop-loss orders, and identify potential profit targets. - Market Psychology: Support and resistance levels reflect market sentiment and the balance between supply and demand. Understanding these concepts can enhance trading strategies and improve decision-making. P.S note : im not SEBI REGISTRAR 🙏🏻 Any doubt 👉🏻 @thetradeforecas@thetradeforecastY #NIFTYBANK ⚡ Observe, understand, then implement 👍🏻 Chart contains support and resistance levels (understand how it works 👇🏻) Support and resistance are key concepts in technical analysis used to identify potential price levels where assets may reverse or stall. Support: -Definition: A support level is a price point where buying interest is strong enough to overcome selling pressure, preventing the price from falling further. - Indicators: Support levels can be identified through historical price data, trend lines, or moving averages. - Behavior: When a price approaches support, it may bounce back up. If broken, it can become a new resistance level. Resistance: - Definition: A resistance level is a price point where selling interest is strong enough to overcome buying pressure, preventing the price from rising further. - Indicators: Similar to support, resistance levels can be identified through past price action, trend lines, or moving averages. - Behavior: When the price approaches resistance, it may retreat. If broken, it can turn into a new support level. Importance: - Trade Decisions: Traders use these levels to make buy or sell decisions, set stop-loss orders, and identify potential profit targets. - Market Psychology: Support and resistance levels reflect market sentiment and the balance between supply and demand. Understanding these concepts can enhance trading strategies and improve decision-making. P.S note : im not SEBI REGISTRAR 🙏🏻 Any doubt 👉🏻 @thetradeforecast
NSE:BANKNIFTYShort
by thetradeforecast
1
BankNifty Intraday Support & Resistance Levels for 07.11.2024On Wednesday, BankNifty opened with a gap-up but traded within a narrow 300-point range, touching a low of 52,185.40 and a high of 52,493.95. It closed at 52,317.40, adding 110 points over the previous close. The Weekly and Daily Trends (50 SMA) remain sideways, signalling potential consolidation. Demand/Support Zones Minor Support (30m): 50,900.10 - 51,230.85 Minor Support (15m): 50,382.10 - 50,485.15 Near Support (Daily): 49,654.65 - 49,959.25 Far Support: 49,282.65 (61.8% FIBO Level) Deep Support (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Near Resistance (Daily): 52,817.80 - 53,235.25 Key Resistance (Weekly): 53,741.40 - 54,467.35
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 06.11.2024On Tuesday, BankNifty opened on a weak note, reaching a low of 50,865.45 within the 30-minute demand zone before surging over 1,000 points to a high of 52,289.55. It closed strong at 52,207.25, gaining 992 points from the previous close. The Weekly Trend (50 SMA) remains sideways, as does the Daily Trend. Demand/Support Zones Near Minor Demand/Support (30m): 50,900.10 - 51,230.85 Near Minor Demand/Support (15m): 50,382.10 - 50,485.15 Far Demand/Support (Daily): 49,654.65 - 49,959.25 Extended Support: 49,282.65 (61.8% FIBO Level) Deep Demand/Support (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Near Supply/Resistance (15m): 52,264.05 - 52,349.45 (tested) Far Supply/Resistance (Daily): 52,817.80 - 53,235.25 Extended Supply/Resistance (Weekly): 53,741.40 - 54,467.35
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 05.11.2024On Monday, BankNifty opened on a high note, with Open = High at 51,729.90, before dropping over 650 points to a low of 51,070.65. It closed at 51,215.25, down by 458 points from the previous close. Both the Weekly and Daily Trends (50 SMA) remain sideways, suggesting caution in both directions. Demand/Support Zones Near Minor Demand/Support (30m): 50,798.45 - 50,888.95 Near Minor Demand/Support (15m): 50,382.10 - 50,485.15 Far Demand/Support (Daily): 49,654.65 - 49,959.25 Extended Support: 49,282.65 (61.8% FIBO Level) Far Demand/Support (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Near Supply/Resistance (30m): 51,634.50 - 51,793.50 Near Supply/Resistance (15m): 52,264.05 - 52,349.45 Extended Supply/Resistance (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance (Weekly): 53,741.40 - 54,467.35
NSE:BANKNIFTY
by PriteshPalan
CANARA BANK#CANBK Canara Bank is showing strong potential,especially with the PSU Banking Index nearing a breakout on the upside. A break above this trendline could signal a prime opportunity to add Canara Bank to your portfolio. Investors and positional traders may consider entering at the current levels, as the PSU banking sector has been in a correction phase for nearly a year and now appears ready for a rally. This setup makes Canara Bank an attractive choice for those seeking to benefit from the anticipated upside in the PSU banking stocks.
NSE:CANBKLong
by EmpireCrown
BankNifty Intraday Support & Resistance Levels for 04.11.2024On Friday, BankNifty opened with a gap up, breaking through near 5m and 15m supply zones to reach a high of 51,825.50 before closing at 51,673.90, up by 198 points from the previous close. Both the Weekly and Daily Trends (50 SMA) remain sideways. Demand/Support Zones Near Minor Demand/Support (5m): 51,158.65 - 51,233.50 Near Demand/Support (15m): 50,382.10 - 50,485.15 Far Demand/Support (Daily): 49,654.65 - 49,959.25 Far Support: 49,282.65 (61.8% FIBO Level) Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Near Supply/Resistance (15m): 52,264.05 - 52,349.45 Near Supply/Resistance (Daily): 51,855.15 - 52,577.50 (tested) Far Supply/Resistance (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance (Weekly): 53,741.40 - 54,467.35
NSE:BANKNIFTY
by PriteshPalan
BankNifty Muhurat Trading Support & Resistance for 01.11.2024✨ Happy Diwali and Auspicious Muhurat Trading! ✨ On Thursday, BankNifty opened flat to negative and, despite an initial high of 52,005.60, faced selling pressure in banking stocks, dropping nearly 700 points to a low of 51,318.10. It found some support at the 15m demand zone, closing at 51,475.35, down 332 points from the previous close. The Weekly Trend (50 SMA) remains sideways, as does the Daily Trend (50 SMA). Larger time frame demand and supply zones (75m, Daily, Weekly) remain unchanged. Small Time-Frame Demand/Support Zones Near Demand/Support (5m): 51,158.65 - 51,233.50 Near Demand/Support (15m): 50,382.10 - 50,485.15 Small Time-Frame Supply/Resistance Zones Near Supply/Resistance (5m): 51,638.05 - 51,688.85 Near Supply/Resistance (15m): 51,692.50 - 51,799.75 Near Supply/Resistance (15m): 52,264.05 - 52,349.45 Larger Time-Frame Demand/Support Zones Near Demand/Support (Daily): 49,654.65 - 49,959.25 Far Support: 49,282.65 (61.8% FIBO Level) Far Demand/Support (Daily): 44,633.85 - 45,750.40 Larger Time-Frame Supply/Resistance Zones Near Supply/Resistance (Daily): 51,855.15 - 52,577.50 (tested) Far Supply/Resistance (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance (Weekly): 53,741.40 - 54,467.35 Wishing you a prosperous Muhurat trading session and a joyous Diwali! 🪔📈
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 31.10.2024On Wednesday, BankNifty opened with a gap down, reaching a high of 52,220 before dipping to a low of 51,733. After attempting to hold the 15m demand zone, BankNifty couldn’t sustain, closing at 51,807.50 with a 513-point loss. Both the Weekly and Daily Trends (50 SMA) are currently sideways. Demand/Support Zones: Near Minor Demand/Support Zone (15m): 51,376.60 - 51,517.85 Near Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far Support: 49,282.65 (61.8% FIBO Level) Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones: Near Supply/Resistance Zone (15m): 52,264.05 - 52,349.45 Near Supply/Resistance Zone (Daily): 51,855.15 - 52,577.50 (tested) Far Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance Zone (Weekly): 53,741.40 - 54,467.35
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 30.10.2024On Tuesday, BankNifty opened with a gap up and rallied to a high of 52,354.85, breaking the tested 75m Supply Zone and entering the Daily Supply Zone. It closed strong at 52,320.70, gaining a remarkable 1,061 points over the previous close. Weekly Trend (50 SMA) remains sideways, as does the Daily Trend. Demand/Support Zones: Near Demand/Support Zone (15m): 51,796.15 - 51,969.50 Near Demand/Support Zone (15m): 51,376.60 - 51,517.85 Near Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far Support: 49,282.65 (61.8% FIBO Level) Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones: Near Supply/Resistance Zone (Daily): 51,855.15 - 52,577.50 (currently in this zone) Far Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance Zone (Weekly): 53,741.40 - 54,467.35
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 29.10.2024On Monday, BankNifty opened with a gap up, reaching a high of 51,589.15, testing the 75m Supply Zone mentioned in the previous post. Selling pressure from this supply zone caused it to drop nearly 400 points, closing at 51,259.30, still up 471 points from the previous close. Both the Weekly and Daily Trends (50 SMA) remain sideways. The demand and supply zones are unchanged. Demand/Support Zones: Near Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far Support at 49,282.65 (61.8% FIBO Level) Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones: Near Supply/Resistance Zone (75m): 51,411.30 - 51,781.55 (tested on Monday) Near Supply/Resistance Zone (Daily): 51,855.15 - 52,577.50 Far Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance Zone (Weekly): 53,741.40 - 54,467.35
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 28.10.2024On Friday, BankNifty opened flat to slightly negative and faced intense selling pressure, dropping to a low of 50,382.10 before closing at 50,787.45, down 743 points. The Weekly Trend (50 SMA) shifted sideways from positive, while the Daily Trend (50 SMA) remains sideways. As anticipated, once the critical 51,000 level broke, BankNifty slid an additional 600 points. A further dip toward the psychological level of 50,000 is possible before we see any meaningful bounce. Demand/Support Zones: Near Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far Support: 49,282.65 (61.8% FIBO Level) Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones: Near Supply/Resistance Zone (75m): 51,411.30 - 51,781.55 Near Supply/Resistance Zone (Daily): 51,855.15 - 52,577.50 Far Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance Zone (Weekly): 53,741.40 - 54,467.35
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 25.10.2024On Thursday, BankNifty opened on a positive note, hit a low of 51,201.85 and climbed to a high of 51,781.55 before closing at 51,531.15, gaining 292 points from the previous close. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) is sideways. BankNifty Demand/Support Zones: Near Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support: 49,282.65 (61.8% FIBO Level) Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40 BankNifty Supply/Resistance Zones: Far Supply/Resistance Zone (5m): 52,143.55 - 52,257.30 Near Supply/Resistance Zone (Daily): 51,855.15 - 52,577.50 Far Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance Zone (75m): 53,763.20 - 53,945.10 Far Supply/Resistance Zone (75m): 54,152.50 - 54,338.70
NSE:BANKNIFTY
by PriteshPalan