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Bankniftyanalysis

BankNifty Intraday Support & Resistance Levels for 24.10.2024On Wednesday, BankNifty opened with a 139-point gap down, making a low of 51,107.90. It bounced back, reaching a high of 51,551.55 (almost hitting the 15m Supply Zone) but couldn't sustain and closed at 51,239, losing 18 points from the previous close. BankNifty has closed inside the 125m Demand Zone for the second consecutive day. If the 51,000 level holds, we may see a bounce. However, if BankNifty breaks below 51,000 with volume and sustains, further downside till 49,959 or lower is possible. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) is sideways. BankNifty Demand/Support Zones for 24.10.2024: Near Demand/Support Zone (125m): 51,000.90 - 51,355.80 (current price inside the zone) 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 for 24.10.2024: Near Supply/Resistance Zone (15m): 51,559.35 - 51,678.85 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
BankNifty Intraday Support & Resistance Levels for 23.10.2024On Tuesday, BankNifty opened 108 points higher, hit a high of 52,257.30, and then dropped over 1,050 points, reaching a low of 51,179.60. It closed at 51,257.15, losing 705 points from the previous session. BankNifty is currently within the 125m Demand Zone mentioned in the previous post. If the crucial 51,000 level holds, we might see a bounce back from this demand zone. However, if BankNifty breaks below 51,000 with strong volume and sustains, further downside to 49,959 or lower is likely. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) is sideways. BankNifty Demand/Support Zones for 23.10.2024: Near Demand/Support Zone (125m): 51,000.90 - 51,355.80 (current price inside this zone) 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 for 23.10.2024: Near Supply/Resistance Zone (15m): 51,559.35 - 51,678.85 Far Supply/Resistance Zone (5m): 52,143.55 - 52,257.30 Near 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
#banknifty directions and levels for October 22nd.Bank Nifty Current View: It is similar to the Nifty sentiment. If the market declines initially, we can expect minimum correctional targets of51,447 to51,338. If the decline has a solid structure, then the trend will likely continue. On the other hand, if it reaches this level gradually, a pullback is possible there. Alternate View: The alternate view suggests that if the market sustains the gap-up, then we can expect52,423 for the pullback target. However, it should break the38% Fibonacci level solidly; only then can we expect this level.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 22.10.2024On Monday, BankNifty opened with a gap up, hit the 15-minute Supply Zone mentioned in the previous post, and made a high of 52,577.50. However, it faced strong resistance, falling over 700 points to a low of 51,855.15 before closing at 51,962.70, down 131 points from the previous close. If BankNifty breaks below the 51,000 level with volume and sustains, we could see a further drop toward 49,959 or lower. The Weekly Trend (50 SMA) is positive, while the Daily Trend (50 SMA) remains sideways. BankNifty Demand/Support Zones for 22.10.2024: Near Demand/Support Zone (125m): 51,000.90 - 51,355.80 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 for 22.10.2024: Near 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
Bank Nifty in Ascending Channel Chart Pattern You guys obviously know how to trade parallel lines !? either side wait and then retracement and BOOM ! a winning trade.. Channel is a powerful yet often overlooked chart pattern and combines several forms of technical analysis to provide traders with potential points for entering and exiting trades focus on buying near the bottom of the channel and exiting near the top. Be wary of shorting since the trend is up Keep boosting/liking this post whenever the support or resistance is touched, I challenge you !
NSE:BANKNIFTY
by piyushbafna000
#Banknifty directions and levels for October 16th.Current View: If the gap-up sustains, we can expect the pullback to continue, with some consolidation around the resistance levels. the target range is 52514 to 52642. Alternate View: The alternate view indicates that if the market declines initially, or if it rejects around the immediate resistance, we can expect a correction of38% to50%. > It is important to note that we cannot assume this is a correction even if the market breaks the50% Fibonacci level, as the structure exhibits a bit of a bullish bias. Therefore, we should look for some additional confirmation to predict the correction. If this happens, I will inform you during market hours.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 21.10.2024On Friday, BankNifty opened with a gap down, hitting a low of 51,000.90, and then staged an impressive comeback, bouncing nearly 1,200 points to a high of 52,199.45. It closed at 52,094.20, gaining 805 points from the previous close. If BankNifty breaks below 51,000 with volume and sustains, further downside could extend to 49,959 or below. The Weekly Trend (50 SMA) remains positive, and the Daily Trend (50 SMA) is sideways. BankNifty Demand/Support Zones for 21.10.2024: 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 for 21.10.2024: Near Supply/Resistance Zone (15m): 52,254.70 - 52,358.35 Far Supply/Resistance Zone (15m): 52,417.40 - 52,562.70 Near 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
Bank nifty Next moveBank Nifty have forming harmonic formation for upside Rally 📌 Please support me with your likes 🤞🏻 and comments 💬 to motivate me to share more analysis with you and share your any opinion about the possible trend of this chart with me ! Best Regards , Davis 🥰 Hit the like 🤞🏻 button to !! Motive some energy !!🥇 📌 Note : ⨻ Check the live market updates and analysis yourself before buy 📈🔺 or sell 📉🔻 ⨺ Am not giving any advisory or signals its just my idea for upgrade my knowledge 📚 in trading ⨹ This is my pre and post market analysis to improve my trading journey 🚀 ⨂ Am Not suggesting anyone to buy or sell ❌ am just giving my views 👀 ⫸ You are responsible for your trading ✅ not me ❌ ⫷ HAPPY TRADING 🥰
NSE:BANKNIFTYLong
by TRADING_MASTER_DAVIS
BankNifty Intraday Support & Resistance Levels for 18.10.2024On Thursday, BankNifty opened with a gap up, hit a high of 51,930.20, and then dropped over 750 points to a low of 51,150.25. It closed at 51,288.80, losing 512 points from the previous close. Despite entering the 125m Demand Zone (51,005.85 - 51,246.50) mentioned earlier, the Daily trend remains bearish. If BankNifty breaks below the 51,000 level with volume and sustains, a further drop toward 49,959 or lower could be on the horizon. The Weekly Trend (50 SMA) is still positive, but the Daily Trend (50 SMA) is negative. BankNifty Demand/Support Zones for 18.10.2024: Near Demand/Support Zone (125m): 51,005.85 - 51,246.50 (Tested on Thursday) Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support: 49,282.65 (61.8% FIBO Level) BankNifty Supply/Resistance Zones for 18.10.2024: Near Supply/Resistance Zone (125m): 51,767.30 - 52,031.60 Near Supply/Resistance Zone (15m): 52,254.70 - 52,358.35 Far Supply/Resistance Zone (15m): 52,417.40 - 52,562.70 Near Supply/Resistance Zone (Daily): 52,817.80 - 53,235.
NSE:BANKNIFTY
by PriteshPalan
Bank Nifty - Potential Bearish Breakdown from Symmetrical Triang"The Bank Nifty is showing signs of a potential bearish breakdown from a symmetrical triangle pattern. After a sharp decline, the index has been consolidating in a triangle formation, which often precedes a significant move. Key levels to watch: Resistance: ~51,400 (upper trendline of the triangle) Current price: 51,269.55 Support: 51,017.60 The increased volume during the consolidation suggests building pressure. A breakdown below the lower trendline of the triangle could lead to a test of the support at 51,017.60 or potentially lower. However, traders should be cautious as symmetrical triangles can break in either direction. A upward breakout is also possible if the index moves decisively above the upper trendline. Trading Strategy: Bearish scenario: Enter short positions on a confirmed breakdown below the lower trendline with a stop loss above the upper trendline. Bullish scenario: Consider long positions only if the index breaks and closes above the upper trendline with increased volume.
NSE:BANKNIFTYShort
by baddonkey99
1
BankNifty Intraday Support & Resistance Levels for 17.10.2024On Wednesday, BankNifty opened with a gap down, marking an Open=Low at 51,711.20, and reached a high of 52,031.60. It closed at 51,801.05, losing 105 points from the previous close. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) is negative. Demand and support zones remain unchanged. BankNifty Demand/Support Zones for 17.10.2024: Near Demand/Support Zone (125m): 51,005.85 - 51,246.50 Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support: 49,282.65 (61.8% FIBO Level) BankNifty Supply/Resistance Zones for 17.10.2024: Near Supply/Resistance Zone (15m): 52,254.70 - 52,358.35 Far Supply/Resistance Zone (15m): 52,417.40 - 52,562.70 Near 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
BankNifty Intraday Support & Resistance Levels for 16.10.2024On Tuesday, BankNifty opened with a gap up, reaching a high of 52,022.05 and a low of 51,698.75 in a slightly volatile session. It closed at 51,906, gaining 89 points from the previous close. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) continues to be negative. BankNifty Demand/Support Zones for 16.10.2024: Near Demand/Support Zone (125m): 51,005.85 - 51,246.50 Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support at 49,282.65 (61.8% FIBO Level) BankNifty Supply/Resistance Zones for 16.10.2024: Near Supply/Resistance Zone (15m): 52,254.70 - 52,358.35 Far Supply/Resistance Zone (15m): 52,417.40 - 52,562.70 Near 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
BankNifty Intraday Support & Resistance Levels for 15.10.2024On Monday, BankNifty opened with a gap up, surged through the 15-minute supply zone, and hit a high of 51,893. It closed strong at 51,816.90, gaining 644 points from the previous close. BankNifty is now showing signs of a retracement move as it exited the Daily Demand Zone and reached a six-day high. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) is negative. BankNifty Demand/Support Zones for 15.10.2024: Near Demand/Support Zone (Daily): 50,369.40 - 51,420.15 (tested) Near Demand/Support Zone (125m): 51,005.85 - 51,246.50 Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support at 49,282.65 (61.8% FIBO Level) BankNifty Supply/Resistance Zones for 15.10.2024: Near Supply/Resistance Zone (15m): 52,254.70 - 52,358.35 Far Supply/Resistance Zone (15m): 52,417.40 - 52,562.70 Near 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
#Banknifty directions and levels for October 14th.Bank Nifty: Bank Nifty is also in a range-bound market. However, the current view suggests that if the market opens with a gap-up or breaks the immediate resistance, we can expect a move towards 51,520. after that, If it rejects at that level, the range-bound market will likely continue. On the other hand, if it consolidates or breaks through, we can expect a rally continuation. Alternate View: The alternate view suggests that if the market opens negatively, we may see a gradual move towards 50,806. If that happens, we can expect a solid bounce back if the market rejects that level. On the other hand, if the decline forms a solid structure and consolidates around the MDZ, the correction is likely to continue.
NSE:BANKNIFTY
by Manickamtraders
4
11th Oct 2024 - BankNifty weekly index died - so did my AlgosBankNifty Stance Bearish ️⬇️ For the week of 7th to 11th October, BankNifty fell 382pts ~ -0.74%, the price action looked stable and sideways but the only reason I am bearish is because of the preceding week's price action. If BN reverses and takes out 51713 decisively, I will change my stance to neutral next week. Two major decisions happened on BankNifty this week. RBI MPC decided to keep the repo rates unchanged but they removed the "withdrawal of liquidity" ~ meaning, the money supply will not be restricted. NSE decided to remove the BankNifty weekly expiries as SEBI demanded that an exchange have only 1 weekly expiry per week. In the earlier discussions also, I had pointed out that NSE would always prefer to keep Nifty as the weekly expiry as it had everything to do with hedging. This happened despite BankNifty being the darling index for options traders. Personally, the algo that I am using will no longer work if BankNifty's weekly expiry is removed. I guess I tried out 50+ combinations to see if something could be worked out. The biggest challenge is the fees and charges for the monthly series as its premiums are higher. Definitely the lower theta is also working against it. It took me over 3.5 years to develop, iterate and perfect the Algo. You can notice how the profits have dropped when the monthly is chosen over the weekly. Both the screenshots are without the exchange charges, the moment that is included, monthly's PnL almost goes to RED. weekly PnL backtestmontly PnL backtestI am quite sure, many other traders would be impacted if their strategy is quite similar to mine. Guess there is no way out, but to decommission the program and think of something new. After all, when a door closes, 4 others should open.
NSE:BANKNIFTYShort
by viswaram
BankNifty Intraday Support & Resistance Levels for 14.10.2024On Friday, BankNifty opened flat to negative, attempting to hold above 51,420 but couldn't sustain. After making a day high of 51,560, it dropped to 51,005.85 and finally closed at 51,172.30, down by 390 points from the previous close. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) has turned negative. Demand/Support Zones: Near Demand/Support Zone (Daily): 50,369.40 - 51,420.15 (current price inside the zone) Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support: 49,282.65 (61.8% FIBO Level) Supply/Resistance Zones: Near minor supply/resistance zone (15m): 51,445.80 - 51,541.90 Near minor supply/resistance zone (15m): 51,590.60 - 51,659.45 Far supply/resistance zone (15m): 52,254.70 - 52,358.35 Near 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
#banknifty directions and levels for October 11th.Bank Nifty Current View: The sentiment is similar to Nifty. If the market starts neutral or negative, it may consolidate between minor 38% and the upside level of 51,812. After this, if a breakout occurs, we can follow the direction, whether to the upside or downside. This is our first variation. Alternate View: The alternate view suggests that if the market breaks or consolidates around the immediate support level (minor 38%), the correction may continue towards 51,065 to 50,806 on the downside.
NSE:BANKNIFTY
by Manickamtraders
10
BankNifty Intraday Support & Resistance Levels for 11.10.2024On Thursday, BankNifty opened with a gap up and surged to a high of 51,659.45, closing at 51,530.90, gaining 524 points over the previous close. BankNifty has exited the Daily Demand Zone and closed above 51,420. If it can sustain this level, we may see the rally continue towards 52,254 or even 52,817. The Weekly Trend (50 SMA) is sideways, while the Daily Trend (50 SMA) remains negative. The demand and supply zones remain unchanged from the previous post. Demand/Support Zones: Near Demand/Support Zone (Daily): 50,369.40 - 51,420.15 (current price inside the zone) Near Demand/Support Zone (15m): 51,086.85 - 51,207.85 Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support at 49,282.65 (61.8% FIBO Level) Supply/Resistance Zones: Near Supply/Resistance Zone (15m): 52,254.70 - 52,358.35 Near 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