BankNifty Analysis - Stance Neutral ➡️
BankNifty made its run today, but nothing as dramatic as Nifty50. We went up 590pts ~ 1.26% and then gave up 443pts ~ 0.93% in the last 45mts. The stance on BN is still neutral. If we had broken the 47465 resistance today and closed above, we would have changed the status to bullish. At one point, breaking 47465 was looking...
BANKNIFTY in formation of a rising wedge on weekly charts.But still looking strong after getting support at the bottom of the trendling.
BANKNIFTY looking solid for coming few weeks . Before election can be pushed to 50,000 levels which is near the upper trendline.
Banknifty has a similar sentiment. The 4th subwave has consolidated for a long time. So, if the market opens neutrally, then the 4th may continue further. After that, if it breaks the previous high, then we can expect the 5th wave, which may reach a minimum of the supply zone. If the 5th wave rejects there, then we can expect a correctional wave. On the other...
BANKINIFTY Intraday Trade Setup For 28 Mar 2024
Bullish- Above 47000
Invalid- Below 46890
T- 47535
Bearish- Below 46500
Invalid- Above 46610
T- 46050
BANKINIFTY has closed on a bullish note with 0.4% gain today. Since last 4 trading session index has been absolute sideways within a very tight range of 500 points. Non - directional trading has no space in...
BankNifty Analysis - Stance Neutral ➡️
BankNifty also started the day with a gap up and then an immediate rise to the 46920 levels. This did not sustain as we gradually fell back to 46690 levels between 10.35 and 15.07. Surprisingly we had a 284pts rally in 15 minutes right back to the 46920 zone. The final close at 46785 looked pretty decent with the major gains...
Hello Traders, Welcome to SriTrader5121
_______________________________________
Overall view for the day.
Buy - Above Side-ways-zone
Sell - Below Side-ways-zone
See the price action at our zones, take the trade according to your Risk - Reward.
Happy Learning and Trading – SriTrader5121
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Rules to fallow...
1) Wait for...
Bank Nifty also has the same sentiment. If the gap-down sustains and breaks the Fibonacci level of 50%, then we can expect a minimum of 61 to 78% correctional wave. After that, if it finds support there, it may undergo a minor pullback wave of the Fibonacci level of 38%. On the other hand, if it breaks or consolidates around the Fibonacci level of 78%, then the...
BANKNIFTY Intraday Trade Setup For 27 Mar 2024
Bullish-Above 46800
Invalid-Below 46690
T- 47250
Bearish-Below 46500
Invalid-Above 46610
T- 46050
BANKNIFTY has closed on a bearish note with 0.56% cut today. All this cut was contributed due to sustained gap down opening. It was a complete option seller's day as it traded within 250 points the whole day. Tomorrow...
For last few trading sessions, market is volatile and is taking the stop losses.
Today also the market remained in a range and closed below the daily 20 ema. There is a rejection from the levels and an inverted hammer is formed on the daily charts.
If there is a gap up to flat opening and market starts trading below today's low, it can test the lower support...
Hello Traders, Welcome to SriTrader5121
_______________________________________
Overall view for the day.
Buy - Above Side-ways-zone
Sell - Below Side-ways-zone
See the price action at our zones, take the trade according to your Risk - Reward.
Happy Learning and Trading – SriTrader5121
______________________________________
Rules to fallow...
1) Wait for...
Banknifty also has the same sentiment. If the market opens with a gap-down, then the 38% to 50% zone will act as support. If it finds support there, we can expect a range-bound market. However, if it consolidates or breaks that level, then the correction will continue further.
Alternatively, if the market opens with a gap-up and breaks the previous day's high,...
Hello Traders, as we have been discussing the resistance line and bears and bull zone in Banknifty, it has broken the resistance line and entered the bull zone, where I expect the market to be bullish.
if we look at the chart now:
The market broke to the upside yesterday. It opened at +500 and ended up sideways. That means the market is not consolidating...
Banknifty closing near where it opened. There is no difference compared to the Nifty structure. If the market finds support around the 38 or 50% Fibonacci level, then we can expect a range-bound market to rally continuation. On the other hand, if it breaks the 50% Fibonacci level, it may turn into a correction phase. We can expect that correction to reach a...
BankNifty Analysis - Stance Neutral ➡️
BankNifty gaps up 422pts ~ 0.91% but doesn't go anywhere. We are neither bullish nor bullish again. One thing was quite clear today, the downside was quite absent today. In fact, our lows of 46651 were protected pretty well. The gaps were because of the outperformance by SPX, NDQ yesterday. Yesterday, the US FED decided to...
Hello Traders, Welcome to SriTrader5121
_______________________________________
Overall view for the day.
Buy - Above Side-ways-zone
Sell - Below Side-ways-zone
See the price action at our zones, take the trade according to your Risk - Reward.
Happy Learning and Trading – SriTrader5121
______________________________________
Rules to fallow...
1) Wait for...
A big red candle on the weekly charts after 4 consecutive green candle is either profit booking or a double top formation confirmation.
Banknifty has come for selling but the downside movement is slow which shows there are still buying happening in the market. There is doji formation on the daily charts and a significant selling is not there in the index as...
BANKNIFTY Intraday Trade Setup For 22 Mar 2024
Bullish-Above 47000
Invalid-Below 46890
T- 47615
Bearish-Below 46550
Invalid-Above 46660
T- 46050 45640
BANKNIFTY has closed on a bullish note with 0.81% gain today. While all this gain was entirely contributed via gap up backed by FED outcome overnight. It has formed a shooting star candle in daily TF. So below...
