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Bankniftyanalysis

BANKNIFTY Intraday Trade Setup For 30 Sep 2024BANKNIFTY Intraday Trade Setup For 30 Sep 2024 Sell_1- From 54250 Invalid-Above 54360 T- 53800 Sell_2-Below 53700 Invalid-Above 53810 T- 53200 BANKNIFTY has closed on a flat note with bearish sentiment last week. It was sideways to slight bullish but on last day whole 500 points gain eroded, week ended near lows. It has formed shooting star in weekly TF which is a potential indication of profit booking. Below 53700 bearish stance can be seen. 53300 is CIP zone in daily TF. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes below 53700 then we will short for the target of 53200. In case of pullback towards 54250 we can short from there for the target of 53800. 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
1
#Banknifty directions and levels for September 27th.Bank Nifty Current View: Bank Nifty is also following the Nifty sentiment. If the market opens with a gap-up or if the initial market sees a solid pullback, it could reach 54,655. However, some rejection could also occur. This is our first scenario. Alternate View: If the initial market breaks or consolidates around the 50% Fibonacci level, we can expect a correction down to the 78% level or the swing low. On the other hand, if it doesn't break, the market will likely turn into a range between the previous high and the 50% Fibonacci level.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 27.09.2024On Thursday, BankNifty hit a new all-time high of 54,467.35 and closed at 54,375.35, gaining 273 points from the previous close. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) has shifted to overbought from positive. Demand/Support Zones: Near Demand/Support Zone (30 min): 54,085.15 - 54,189.15 Far Demand/Support Zone (30 min): 53,225.20 - 53,521.25 Far Demand/Support Zone (30 min): 52,402.80 - 52,484.55 Far Demand/Support Zone (Daily): 52,085.50 - 52,284.60 Supply/Resistance Zones: No supply/resistance zones currently visible on the chart.
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY Intraday Trade Setup 27 Sep 2024BANKNIFTY Intraday Trade Setup 27 Sep 2024 Bullish-Above 54500 Invalid-Below 54390 T- 54925 Bearish-Below 54000 Invalid-Above 54110 T- 53500 BANKNIFTY has closed on a positive note with 0.51% gain today. We will follow buy on dips approach till index is closing above PDL. If a daily candle closes below PDL then chances of bulls giving up will be high. Bearish sentiment likely to kick in when index will close below PDL in daily TF. 54500 and 54000 will be tomorrow's range. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 54500 then we will long for the target of 54925. For selling we need a 15 min candle close below 54000. T- 53500. 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 September 26th.Bank Nifty Current View: Bank Nifty mirrors Nifty's sentiment. If the first move consolidates around the supply zone (MSZ), it could reach a maximum of 54,498. Conversely If it breaks the supply zone with strength, the rally may continue with some consolidation around 54,655. This is our first scenario. Alternate View: The alternate view for Bank Nifty suggests that if the market declines or faces rejection near the supply zone, the range may persist. However, the precise move is if the rejection breaks the 38% Fibonacci level in the minor swing, it could extend to a minimum of 78%, reaching 53,699.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 26.09.2024On Wednesday, BankNifty opened with a gap down but recovered by the end of the session, closing at 54,101.65, gaining 133 points over the previous close. Both the Weekly and Daily Trends (50 SMA) remain positive. Support zones are unchanged from the last post. Demand/Support Zones: Near Demand/Support Zone (30 min): 53,225.20 - 53,521.25 Far Demand/Support Zone (30 min): 52,402.80 - 52,484.55 Far Demand/Support Zone (Daily): 52,085.50 - 52,284.60 Supply/Resistance Zones: No visible supply/resistance zones on the chart at the moment.
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY Intraday Trade Setup For 26 Sep 2024BANKNIFTY Intraday Trade Setup For 26 Sep 2024 Bullish-Above 54250 Invalid-Below 54140 T- 54765 Bearish-Below 53780 Invalid-Above 53890 T- 53370 BANKNIFTY has closed on a slight bullish note with 0.25% gain. It opened with slight gap down and recovered in the 1st 15 Min and then it as sideways to extreme. Yesterday itself we discussed that one should keep non-directional approach as it looks more of a sideways than parabolic. 54250 an 53790 are intra levels for tomorrow. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 54250 then we will long for the target of 54765. For selling we need a 15 Min candle close below 53780. T- 53370. 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 Intraday Trade Setup For 25 Sep 2024BANKNIFTY Intraday Trade Setup For 25 Sep 2024 Bullish-Above 54250 Invalid-Below 54140 T- 54765 Bearish-Below 53900 Invalid-Above 54010 T- 53370 BANKNIFTY has closed on a slight bearish note with 0.25% cut today. However bearish sentiment will confirm when it will close below PDL in daily TF. Below 53900 there is chance of dip towards 53370 zone. As per its behaviour after a rally it turns sideways so be cautious for any huge exposure in directional approach as of now. Above 54250 index can hit 54800 zone. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 54250 then we will long for the target of 54765. For selling we need a 15 Min candle close below 53900. T- 53370. 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 Intraday Support & Resistance Levels for 25.09.2024On Tuesday, BankNifty opened flat, made a new all-time high of 54,247.70 during the last hour of trading, and closed at 53,968.60, losing 137 points from the previous close. Both the Weekly and Daily Trends (50 SMA) remain positive. Support zones are unchanged from the last post. Demand/Support Zones: Near Demand/Support Zone (30 min): 53,225.20 - 53,521.25 Far Demand/Support Zone (30 min): 52,402.80 - 52,484.55 Far Demand/Support Zone (Daily): 52,085.50 - 52,284.60 Supply/Resistance Zones: No visible supply/resistance zones on the chart at the moment.
NSE:BANKNIFTY
by PriteshPalan
#Banknifty directions and levels for September 24th.Current View: Structurally, a diagonal pattern is progressing. If the market rejects around the immediate resistance, or if the market initially declines, we can expect a minimum correction of 23% to 38%. If it breaks below 38%, the trend could shift into a correction phase. Conversely, if it does not break 38%, the diagonal pattern could extend further. This is our first variation. Alternate Variation: The alternate variation suggests that if the market consolidates around the immediate resistance, it will be a sign of bullish continuation. We can expect to see the next resistance level if it breaks through the current resistance.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 24.09.2024On Monday, BankNifty opened with a gap up, made a new all-time high of 54,197.95, and closed at 54,105.80, gaining 312 points over the previous close. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) has turned overbought from positive. Support zones remain unchanged from the last post. Demand/Support Zones: Near Demand/Support Zone (30 min): 53,225.20 - 53,521.25 Far Demand/Support Zone (30 min): 52,402.80 - 52,484.55 Far Demand/Support Zone (Daily): 52,085.50 - 52,284.60 Supply/Resistance Zones: No visible supply/resistance zones on the chart at the moment.
NSE:BANKNIFTY
by PriteshPalan
#Banknifty directions and levels for September 23rd.Bank Nifty: Bank Nifty shares the same sentiment as Nifty. If the market sustains the gap-up structurally, we can expect a continuation of the rally with some consolidation. We can also observe a three-wave structure here. Alternate View: The alternate view for Bank Nifty suggests that if the market encounters a sharp rejection around the immediate resistance, there could be a minimum of 23% to 38% during the minor swing. If it breaks below 38%, then the correction will likely continue to 50% to 78%.
NSE:BANKNIFTY
by Manickamtraders
#Banknifty Directions and Levels for the Last Week of SeptemberCurrent View: The sentiment is similar to Nifty, but structurally, we shouldn’t expect more than a 38% correction in the minor swing. If the market rejects near the immediate resistance, we could complete the 3rd sub-wave at that point, and the rejection would indicate the start of the 4th wave. Typically, the 4th wave doesn’t involve a deep correction, so we can expect a maximum correction of 23% to 38% in the minor swing. Alternate View: The alternate view suggests that if the market consolidates or breaks the immediate resistance, the 3rd wave could extend to levels of 54,840 to 55,141.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 23.09.2024On Friday, BankNifty opened with a gap up and, during a highly volatile session, made a new all-time high of 54,066.10. It closed at 53,793.20, gaining 755 points from the previous close. Both the Weekly and Daily Trends (50 SMA) remain positive. Demand/Support Zones: Near Demand/Support Zone (30 min): 53,225.20 - 53,521.25 Far Demand/Support Zone (30 min): 52,402.80 - 52,484.55 Far Demand/Support Zone (Daily): 52,085.50 - 52,284.60 Supply/Resistance Zones: No visible supply/resistance zones on the chart at the moment.
NSE:BANKNIFTY
by PriteshPalan
20th Sep 2024 - BankNifty up 2049pts ~ 3.95% bulls are on fireBankNifty Stance Bullish ️⬆️ The run on BankNifty was much better and more fierce than N50, we went up an amazing 2049pts ~ 3.95% last week. Unlike Nifty, which started showing its bullish breakouts on Thursday, BankNifty started on Wednesday itself. Over the last 2 weeks, BN is up 3324pts - it has been nothing short of a dream for the bulls. Meanwhile, what is surprising is that it was even good for non-directional algo traders like me. The premiums were good enough that short intraday straddles with rolling stop losses made me good money. Occasionally I had to wind up the Algo's early because the index was looking to go ballistic. What I am trying to say is that BN gave me enough heads-up to exit my non-directional trades - which is not usual. The usual thing is BN always traps their straddlers. For the next week also, we wish to maintain our bullish stance and look for long only opportunities. I will not be running the non-directional algos unless BN gives me a "ran and tired" indication.
NSE:BANKNIFTYLong
by viswaram
Bank Nifty At New ATHHello Traders, What a superb week was there for banking sectors creating new high will Lots of volatility in it. Specially 21 sept session was extra volatile & we see lots of ups & downs. As we can se Bank nifty broke the Previous resistance of 53357 & closed at the fresh Highs. Above 3% gains recorded in this week. Now its time for it to cool down for some time because its trading very far from its mean Moving average . Profit booking signs may occur. Thank You Prince
NSE:BANKNIFTYLong
by Princetechnicals
#Banknifty directions and levels for September 20th.Banknifty: Current view: The current view is similar to Nifty. If the market declines after an initial pullback, we can expect a correctional target at the 50% Fibonacci level on the downside. Structurally, it might not sustain there. However, a proper trend reversal (for a correction) will occur only if it breaks the 50% level. This is our first variation. Alternate view: The alternate view suggests that if the gap-up sustains, Banknifty could reach the supply zone on the upside (53,419 to 53,491). This is a crucial level in the current structure. Once the market reaches this zone, there is a high probability of rejection, which means we could expect a 61% to 78% correction in the minor swing. Structurally, this indicates a diagonal pattern. However, a rally could be expected only if the supply zone is broken effectively.
NSE:BANKNIFTY
by Manickamtraders
2
BankNifty Intraday Support & Resistance Levels for 20.09.2024On Thursday, BankNifty opened with a gap up and reached a high of 53,353.30, just 4 points shy of its all-time high of 53,357.70. Profit booking followed, and it closed at 53,037.60, gaining 287 points from the previous day. Both the Weekly and Daily Trends (50 SMA) remain positive. Demand/Support Zones: Near Demand/Support Zone (125 min): 52,622.80 - 52,859.05 (tested) Far Demand/Support Zone (15 min): 52,406.95 - 52,484.55 Far Demand/Support Zone (Daily): 52,085.50 - 52,284.60 Far Demand/Support Zone (125 min): 51,643.95 - 51,938.05 Supply/Resistance Zones: No visible supply/resistance zones on the chart at the moment.
NSE:BANKNIFTY
by PriteshPalan
#Banknifty directions and levels for September 19th.Bank Nifty: Current View: Here, too, we expect a correctional target at the 38% level on the downside. After that, if the market breaks or consolidates around the 38% mark, the correction is likely to continue. > A notable point here is the pullback around the 38% level. If the market finds support and bounces back, structurally, it won't move significantly higher. We can also expect the continuation of the correction if it breaks the previous low. Alternate View: The alternate view for Bank Nifty is similar to that of Nifty. If the gap-up sustains, we might see some consolidation between the previous high and the previous day's closing. If it breaks the previous high afterward, the rally will likely continue; however, we should wait for the breakout to confirm directional momentum.
NSE:BANKNIFTY
by Manickamtraders
4