Hello Friends What's your view on Bank nifty for 12-04-2024.... Keep Learning with NG!!
BankNifty Prediction for Tomorrow Trend : BEARISH Sentiment : Positive Expectation : Moderately BEARISH 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...
BankNifty Analysis - Stance Bullish ⬆️ Banknifty was looking strong right from the start. Unlike Nifty, BN did not have a huge gap up, but the rising trend was clear and strong. The reason it was strong was because the moves were not wild swings but slow & steady. If you look at the 63mts candlesticks, you can notice the body becoming smaller. Usually, it is a...
Banknifty support and resistance for level based trading. This is my view and I recommend everyone to cross check with their studies,too. It works on both intraday & positional.
As we discussed in our last analysis, the market faced resistance from 49960. (Near Fib 1.414) If we look at the chart now: The market is trading at ATH. Also, the market is facing resistance in the resistance zone(1H-TF). The market is also showing a Bullish divergence that will force the market to be in the bull's favor. 49000 is a very strong level of...
Banknifty also has the same structural sentiment; it has closed at the Fibonacci level of 23%. If the market opens with a gap-up and sustains it, then we can expect the rally to continue with minor consolidations. In that case, we can expect a minimum range of 49,021 to 49,183. Alternatively, if the gap-up doesn't sustain, we can expect the Fibonacci level of 38%...
BankNifty Analysis - Stance Bullish ⬆️ BankNifty does an inverted V pattern today due to which the Algos went negative. Was quite happy that the losses were contained in the end, but what I learned is that sharp rises & falls take out the stop losses at both ends. And what is the end result? We are treading nowhere. On the higher timeframe, BN looks more bullish...
The FASP for BankNifty is listed for 10-04-2024. 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...
The FASP for BankNifty is listed for 09-04-2024. 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...
Banknifty didn't match the performance compared to the nifty. However, it also has some bullish sentiment, so if the gap-up sustains, we can expect a rally continuation with minor consolidation. The reversal will be considered only if it breaks the Fibonacci level 38%, while if it rejects the major resistance level. An alternate view indicates if the gap-up...
BNF tried to move past 46753, it failed and made a double top before testing 46546. This is a level that had previously pushed price to around 47000, however, with recent movement, it had been respecting a parallel channel formed in 15MTF. If level 46699 is not broken, we can expect a movement down, this will also fill the gap before moving to 46360. Note:...
BankNifty Analysis - Stance Bullish ⬆️ BankNifty also takes out the recent swing high and a new ATH is in place ~ 48716 @ 13.23. Over the next 2 candles, it lost 217pts ~ 0.45%. The final close was with a nominal gain of 88pts ~ 0.18%. What a run it has been by BN, we have officially it a new higher-high, but it has not finished yet. Only when we retrace a few...
BANKNIFTY Intraday Trade Setup For 9 Apr 2024 Bullish-Above 48730 Invalid-Below 48620 T- 49135 Bearish-Below 48400 Invalid-Above 48510 T- 48070 BANKNIFTY has closed on a slight bullish note with 0.18% gain today. It has formed a spinning top candle which is once again neutral and indecisive sign. We will plan a short trade below 48420 however bears will try to...
Banknifty has a solid bullish structure, so if the gap-up sustains, we can expect a minimum of 48796. It's a major resistance, so if the market reaches this level solidly, then the market may break this level with minor rejection. On the other hand, if it reaches this level with a minor pullback, then the market may retrace a minimum of 23 to 38%. Alternatively,...
BANKNIFTY Intraday Trade Setup For 8 Apr 2024 Bullish-Above 48570 Invalid-Below 48460 T- 49131 Bearish-Below 48200 Invalid-Below 48310 T- 47650 BANKNIFTY has closed on a bullish note with 2.9% gain today. Index is at striking distance to ATH and possibility of ATH breakout is high. Tomorrow will be an deciding day weather index gives a breakout of 48600 to...
Banknifty has been in an uptrend for the last week. By looking at the chart: BankNIfty is trading at an all-time high right now. The Bulls are weak at this point. In the past two days, there has also been selling pressure. By looking at the OI data: PCR = 1.34 indicates a bullish market nature. 48500 will be acting as the Max-Pain. Above 48500, there...
Banknifty, as usual, has followed the same sentiment of Nifty. If the market finds support around the minor demand zone, then we can expect a range market. On the other hand, if it breaks or consolidates around the demand zone, it may continue the correction.
BankNifty Analysis - Stance Bullish ⬆️ The beauty of BankNifty today was that its fall did not go below yesterday’s close. Yes, the fall was intense, but the recovery was more elegant - a steady rise showing immense Bull strength. And if you read today’s report along with what we wrote yesterday, you might have become a true fan of the Bulls. A true jump above...