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Bankniftyanalysis

BANKNIFTY MATHEMATICAL LEVELS FOR THIS WEEKThese Levels are based on purely mathematical calculations. Validity of levels are upto expiry of current week. How to use these levels :- * Mark these levels on your chart. * Safe players Can use 15 min Time Frame * Risky Traders Can use 5 min. Time Frame * When Candle give Breakout / Breakdown to any level we have to enter with High/Low of that breaking candle. * Targets will be another level marked on chart * Stop Loss will be Low/High of that Breaking Candle. * Trail your SL with every candle. * Avoid Big Candles as SL will be high then. * This is one of the Best Risk Reward Setup. For Educational purpose only
NSE:BANKNIFTY
by StocksOptionBlaster
BankNifty Intraday Support & Resistance Levels for 10.10.2024On Wednesday, BankNifty opened gap up, briefly crossed the Daily Demand Zone (above 51,420.15) and touched a high of 51,707.15. However, the gains couldn't hold, and it dropped sharply to 50,903.75, closing at 51,007, losing 14 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) continues to be 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) Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support: 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
#banknifty directions and levels for October 9th.Today, we have a major event: the RBI monetary policy announcement. This means the market is likely to move based on this data, which will be released around 10 AM. Therefore, technical analysis may not play a significant role today. However, structurally, both the Nifty and Bank Nifty remain in a bearish bias since they haven't broken the 38% Fibonacci level in the overall correction. So, if the market rejects the key resistance level, we can expect the correction to continue.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 09.10.2024On Tuesday, BankNifty opened gap up and finally showed some bullish momentum after six days of downtrend, reaching a high of 51,176.05. It closed at 51,021, gaining 542 points from the previous close. The Weekly Trend (50 SMA) is sideways, while the Daily Trend (50 SMA) remains negative. Though BankNifty broke the daily demand zone (below 50,369.40) on Monday, it managed to close inside the zone for the second consecutive day. On the downside, 50,369 is a crucial level for support. If BankNifty crosses 51,420 and sustains above, we could see a rally towards 52,254 and beyond. 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 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 Keep an eye on 51,420 for a potential breakout to push BankNifty higher!
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 08.10.2024On Monday, BankNifty opened with a gap up, reaching a high of 51,784.80, but couldn't hold its gains and dropped 1,590 points from the peak, hitting a low of 50,194.30. It finally closed at 50,478.90, down by 983 points from the previous session. The Weekly Trend (50 SMA) has shifted to sideways from positive, while the Daily Trend (50 SMA) has turned negative. BankNifty briefly broke the key daily demand zone (below 50,369.40), but managed to close within it. If it breaks and sustains below 50,369.40, we could see a further decline towards 49,959 and possibly lower. 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% Fibonacci 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 Keep a close watch for key levels today, as a break below the demand zone could trigger further downside.
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY - SHORT TRADE FOR HUGE PROFITSymbol - BANKNIFTY BANKNIFTY is currently trading at 53920 I'm seeing a trading opportunity on sell side. Shorting BANKNIFTY Futures at CMP 53920 I will be adding more position if 54400 comes & will hold with SL 54720 Targets I'm expecting are 52800 - 51800 - 51100 & below. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
NSE:BANKNIFTYShort
by akshit_official
5
#Banknifty directions and levels for the 2nd week of October.Current View: The current view based on the RSI data is as follows: * The RSI divergence is likely to occur in the sub-wave 5. The structure suggests there is a 5th sub-wave forming. Once the market starts to bounce back, we can close the 5-wave structure in the 1st leg of the correction, leading into the 2nd leg. * The ideal 2nd leg is a three-wave structure, which could take a minimum of 38% to 61% bounce back from the previous swing. > In rare occasions, it could reach 78%. Structurally, it won’t go beyond this level; however, if it does, the overall trend will turn bullish. * Once the three-wave structure (2nd leg) completes, the 3rd wave will begin. The 3rd wave is a correctional wave; if it rejects and cuts below the EMA20 line, we can assume that the downtrend may continue further. This is our first variation. Alternate View: * The alternate view suggests that if the week starts with a negative candle, it may evolve into a diagonal structure. * A diagonal is a time adjustment pattern, so the correction could continue with some minor bounce backs. * However, the diagonal also indicates a sub-wave of the 5th. Once the diagonal pattern breaks upwards, the previous sentiment will apply here as well, meaning we can expect a minimum of a 38% bounce back from the previous swing.
NSE:BANKNIFTY
by Manickamtraders
4
4th Oct 2024 - BankNifty falls 2280pts ~ 4.24% - stance bearish--- BankNifty Stance Bearish ️⬇️ Banknifty also dropped 4.24% ~ 2280pts, the reversal signs were pretty clear last week and we did mention it in our weekly newsletter as well. There were 3 interesting moves this week.  Gap down on 30th Sep Gap down on 3rd Oct Strong price action on 4th Oct In fact, we fell almost 800 pts on 4th Oct after 12.30 pm, negating our retracement in the morning period. 51715 may act as a strong resistance and if we break through, I would like to change my stance back to neutral. Till then would prefer to go with a bearish stance. --- On 1st October 2024, SEBI issued a new circular "Measures to Strengthen Equity Index Derivatives Framework for Increased Investor Protection and Market Stability". In this circular, they asked the exchanges to limit the weekly expiries to just one index. They also suggested increasing the contract size from Rs5 to 10 lakhs currently to Rs15 to 20 lakhs effective from 20th of November. SEBI also asked trading members (brokers) to increase the Initial Margin (IM) and Extreme Loss Margin (ELM) even for the option buyers, this would be effective from 1st February 2025. Finally, they decided to increase the ELM for short options contracts by 2% on Expiry day.
NSE:BANKNIFTYShort
by viswaram
BankNifty Intraday Support & Resistance Levels for 07.10.2024On Friday, BankNifty opened gap down but quickly recovered, reaching a high of 52,358.35, entering the 15-minute Supply Zone highlighted in the previous post. However, it faced strong selling pressure at that level and plunged 1,000 points from the day’s high, hitting a low of 51,347.25. BankNifty broke through the near Daily Demand Zone and entered the Far Daily Demand Zone, closing at 51,462.05, down 383 points from the previous session. The Weekly Trend (50 SMA) remains positive, but the Daily Trend (50 SMA) has turned sideways. As BankNifty approaches the support/demand zone (50,369.40 - 51,420.15), a potential bounce could take it back up towards 52,817, near the Daily Supply Zone. Demand/Support Zones: Near Demand/Support Zone (Daily): 50,369.40 - 51,420.15 (current price near the zone) Near Demand/Support Zone (75m): 51,025 - 51,222.65 Far Demand/Support Zone (75m): 50,564.65 - 50,891.65 Supply/Resistance Zones: 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 Keep these levels in mind for potential trading opportunities!
NSE:BANKNIFTY
by PriteshPalan
#banknifty directions and levels for October 4th.Current View: The current view suggests that if the market finds support around the immediate support level, we can expect a bounce back of around 23% to 38% in the minor swing. This is our first scenario. For additional confirmation, you can refer to the 20 EMA Alternate View: The alternate view suggests a breakout trade. If the market breaks or consolidates around the support level, we can take a breakout entry and set the target at the next support level. Since I'm uncertain about the trend continuation, I’ve set the target conservatively at the next support level.
NSE:BANKNIFTY
by Manickamtraders
2
BankNifty Intraday Support & Resistance Levels for 04.10.2024On Thursday, BankNifty opened gap down and faced intense selling pressure, diving deep into the daily demand zone. It hit a low of 51,683.40 before closing at 51,845.20, losing a significant 1,077 points from the previous close. While the Weekly Trend (50 SMA) remains positive, the Daily Trend (50 SMA) has shifted to sideways, indicating a potential change in momentum. Demand/Support Zones: Near Demand/Support Zone (Daily): 51,643.95 - 52,484.60 (current price inside the zone) Far Demand/Support Zone (Daily): 50,369.40 - 51,420.15 Supply/Resistance Zones: Near Minor Supply/Resistance Zone (30 min): 52,139.20 - 52,224.25 Near Supply/Resistance Zone (15 min): 52,282.55 - 52,392.25 Far Supply/Resistance Zone (30 min): 52,862.00 - 52,993.95 Near Supply/Resistance Zone (75 min): 53,763.20 - 53,945.10 Far Supply/Resistance Zone (75 min): 54,152.50 - 54,338.70 Stay alert as the market could experience heightened volatility in the coming sessions!
NSE:BANKNIFTY
by PriteshPalan
#Banknifty directions and levels for October 3rd.Current View: If the market opens with a gap-down, both Nifty and Bank Nifty are expected to continue in a bearish structure, with some minor consolidation. Even if there’s a pullback, this type of correction typically won’t break the 38% Fibonacci level in the minor swing. This is our first scenario. Alternate View: If the market initially rejects around the immediate support level and breaks the 38% Fibonacci level in the minor swing, it could shift into a range-bound market. In this case, targets are expected around the 78% Fibonacci level in the minor swing.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 03.10.2024On Tuesday, BankNifty opened gap down, bounced to a high of 53,235.25, and fell to a low of 52,817.80 before closing at 52,922.60, losing 55 points from the previous close. It broke the 125m Demand zone (52,847.90 - 53,136.10) mentioned in the last post, but managed to close inside the zone. As highlighted earlier, if BankNifty breaks below 52,847 with volume and sustains, further declines towards 52,285 could be expected. The Weekly and Daily Trends (50 SMA) remain positive. The demand and supply zones remain unchanged. Demand/Support Zones: Near Demand/Support Zone (125 min): 52,847.90 - 53,136.10 (current price inside the zone) Far Demand/Support Zone (Daily): 51,643.95 - 52,484.60 Far Demand/Support Zone (Daily): 50,369.40 - 51,420.15 Supply/Resistance Zones: Near Supply/Resistance Zone (75 min): 53,763.20 - 53,945.10 Far Supply/Resistance Zone (75 min): 54,152.50 - 54,338.70
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY Intraday Trade Setup For 3 Oct 2024BANKNIFTY Intraday Trade Setup For 3 Oct 2024 Bullish-Above 53250 Invalid-Below 53140 T- 53850 Bearish-Below 52800 Invalid-Above 52910 T- 52200 BANKNIFTY has closed on a slight bearish note last day with 0.1% cut. Index may give a bounce only if there is a gap up and 10 o'clock range breaks in the upside or else it will be a sell on rise market. Best trade looks in the downside below 52800 on a flat opening. Next important confluence looks near 52170-200 zone as per ABCD plotted. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 53250 then we will long for the target of 53850. For selling we need a 15 Min candle close below 52800. T- 52200. 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.
NSE:BANKNIFTY
by Omahto
#Banknifty directions and levels for October 1st.ank Nifty Current View: The current view is similar to the Nifty sentiment; if the market opens with a gap-up or takes support around the immediate support level, it could retrace a maximum of 23% to 38%. Structurally, it won't sustain there, so it may undergo some consolidation between the current low and the 38% Fibonacci level in the minor swing. . Afterward, we can follow the direction—whether it breaks the previous low or the 38% Fibonacci level. This is our first variation Alternate View: The alternate view states that if the initial market declines and sustains, we can expect a minimum correction to the levels of 52,722 to 52,629, which are major support levels. If it rejects at this level, we can expect a minor swing bounce-back of 23% to 38%. On the other hand, if it breaks or consolidates below these levels, the correction will likely continue.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 01.10.2024On Monday, BankNifty opened with a gap down and, under selling pressure, broke the 30-minute demand zone, closing within the 125-minute demand zone mentioned in the previous post. If BankNifty breaks below 52,847 with volume and sustains, we could see further downside towards 52,285. BankNifty closed at 52,978.1, losing 856 points from the previous close. The Weekly and Daily Trends (50 SMA) remain positive. Demand/Support Zones: Near Demand/Support Zone (125 min): 52,847.90 - 53,136.10 (current price inside the zone) Far Demand/Support Zone (Daily): 51,643.95 - 52,484.60 Far Demand/Support Zone (Daily): 50,369.40 - 51,420.15 Supply/Resistance Zones: Near Supply/Resistance Zone (75 min): 53,763.20 - 53,945.10 Far Supply/Resistance Zone (75 min): 54,152.50 - 54,338.70
NSE:BANKNIFTY
by PriteshPalan
Banknifty analysis for weekly expiry 01/10/2024.Banknifty weekly expiry can be seen taking market towards another round number figure of 52500 levels. There was a good bearish movement on the daily charts, market closed 850 points lower. Chance of a follow through can be seen as both the index are moving in tandem. Watch banknifty breaching 52780 levels as there will be double support break down. Major levels to look for tomorrow :- 53060, 52780, 52625 Wait for the price action near the levels before entering the markets.
NSE:BANKNIFTY
by TheMamboMomentum
Bank Nifty Levels and Technical Analysis- Bank Nifty is currently trading at 53,043 as of today and is down by 1.5% - Bank nifty took out buy-side liquidity and trapped many buyers but at the same time the market structure looks intact and bullish - Bank has a huge displacement around 52,000-54,000 - Bank Nifty might move after filling the Bullish Fair Value gap which is lying around 52,300-52,600 - Bank Nifty can make another higher high post that so be cautious and wait for the price delivery to purge your point of interest
NSE:BANKNIFTYLong
by VKtradesimbalance
#Banknifty directions and levels for September 30th.Bank Nifty Current View: Bank Nifty reflects the same sentiment as Nifty. If the market finds support around the immediate support level (23%), we can expect a minimum bounce back of 38% to 61%. It looks like a range-bound market. If this occurs, the next movements will be determined by whether it breaks the previous high or the downside Fibonacci level of 23%. This is our first variation. Alternate View: The alternate view suggests that if the gap-down sustains and breaks the immediate support level, then the correction is likely to continue down to the minimum level of Fibonacci 53389 to the 38% Fibonacci level.
NSE:BANKNIFTY
by Manickamtraders
6
27th Sep 2024 - BankNifty ended the week in RED, consolidating?BankNifty Stance Neutral ➡️ Looks can be deceiving, BankNifty ended the week negative, losing 104pts ~ -0.19%. The reason I chose the title "Who is contributing to the gains" is really valid here. NiftyIT only went up 48pts ~ 0.11%. So who really helped Nifty go up 1.38%? The truth is, there was a strong sector rotation, and the laggards caught up this week. The leaders ending the week flat could be a warning sign of consolidation or reversal.  BN has been a true leader and its last bullish leg started on 9th Sep. We are up 3456pts ~ 6.86% since then. For the next week, I would like to change the stance to neutral and go bullish if we are breaking out again.
NSE:BANKNIFTY
by viswaram
#Banknifty directions and levels for the first week of October.Bank Nifty Current View: Bank Nifty reflects a similar sentiment to Nifty. If the market starts with a red candle, we can expect a 23% to 38% correction in the minor swing. Structurally, it shouldn't break the 38% Fibonacci level. If it does break this level, we could expect the next target to be a 50% correction on the downside. > in this variation, if it finds support around the 38% level, it could rise to a minimum of 38% to 78% in the minor swing. Alternate View: The alternate view indicates that if the market rejects around the immediate support level and consolidates, then the rally could continue once it breaks the previous high. If this occurs, we can expect the next targets to be a minimum of 54,574 to 54,840. This is our alternate view.
NSE:BANKNIFTY
by Manickamtraders