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Niftybank Weekly analysis & Prediction-12th June-16th June 2023Nifty bank Weekly analysis & Prediction-12th June-16th June 2023 Disclaimer: I do not give any tips or buy sell recommendation I only teach trading strategies. These levels are purely based on Price action/demand and supply zones & and consumed only for educational purpose & should not be taken as buy/sell recommendation. I will not be responsible for any loss/profit incurred if anyone takes trades based on my view. Please consult your Financial Advisor before making any trading decision
NSE:BANKNIFTY
by sbkurandwad77
BANKNIFTY Intraday Trade Setup For 09 Jun 2023BANKNIFTY Intraday Trade Setup For 09 Jun 2023 Sell_1- Below 43910 Sl-44015 T- 43700 43515 Sell_2- From 44255 Sl-44360 T- 43950 43700 BANKNIFTY has closed on a bearish note with 0.63% cut today. Buy triggered as per trade setup above 44350. But it was mentioned last day that if we sustain above 44300 then we can have bullish momentum. It gave a move till 44459 which was more than 150 points gain. Later it slipped below 10 o'clock range and gave one way move which was more than 250 points. Now it is at the hourly trendline support (rising wedge). Below today's low there will be breakdown , we have to follow hourly TF for this. Coming to Friday's trade setup, if index opens flat and or below 44255 then this zone (44255) is tested in the 1st hour then we will short from there. T- 43950 and 43700. 2nd sell is below 43910 on a 15 Min candle close. T- 43700 and 43515. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 08 Jun 2023BANKNIFTY Intraday Trade Setup For 08 Jun 2023 Buy-Above 44350 Sl-44245 T- 44523 44675 Sell-Below 44140 Sl-44245 T- 44000 43840 BANKNIFTY has closed with slight gain of 0.25% today. It opened opened with a decent gap up today. 10 o'clock rage broke downside below 44231 and gave 85+ points gain with less than 50 points sl. On a flat opening if it sustains above 44300 then it can show strength tomorrow, confirmation above 44350. Below 44140 there can be good selling momentum and we can see good profit booking. Tomorrow is RBI Policy at 10 AM so safe traders should trade after market settles in the 2nd session. Tomorrow is expiry and credit policy both so market can be volatile and random. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 44350 then we will long for the target of 44523 and 44675. For selling we need a 15 min candle close below 44140. T- 44000 and 43840. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 07 Jun 2023BANKNIFTY Intraday Trade Setup For 07 Jun 2023 Buy-Above 44240 Sl-44135 T- 44380 44522 Sell-Below 44000 Sl- 44105 T- 43840 43680 BANKNIFTY has closed with a slight gain of 0.14%, closing is in flat zone. Overall it was another sideways day. It has been updated multiple times that we are inside the broader daily and hour range. Also it has been updated that we are inside the rising wedge pattern in hourly TF. Till the time we are inside this range, we will have sideways sessions. Also the VIX has became ultra low so till it starts to rise we will have short length moves in intraday. We will plan tomorrow's trade above and below today's high and low. Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 44240 then we will long for the target of 44380 and 44522. For selling we need a 15 Min candle close below 44000. T- 43840 and 43680. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 06 Jun 2023BANKNIFTY Intraday Trade Setup For 06 Jun 2023 Buy-Above 44270 Sl-44165 T- 44515 44755 Sell-Below 44070 Sl- 44175 T- 43840 43680 BANKNIFTY has closed on a bearish sentiment with some positive gain today. It has closed with 0.37% gain and formed shooting star candle in daily chart. It opened with a decent gap up and buy triggered above 44090. Trade gave more than 1:1 gain. It was a rangebound day overall as it traded between the 10 o'clock range range whole day. A sharp buying momentum can kick in above 42270. Hourly range is 44500 and 43700, between this we will have days like today. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 44270 then we will long for the target of 44515 and above that 44755. For selling we need a 15 Min candle close below 44070. T- 43840 and 43680. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 05 June 2023BANKNIFTY Intraday Trade Setup For 05 June 2023 Buy-Above 44090 Sl- 43985 T- 44305 44515 Sell-Below 43840 Sl-43945 T- 43680 43475 BANKNIFTY has closed on a slight bearish note last week, after a fresh ATH which we were targeting since long time. In hourly TF we are currently inside the parallel channel/ rising wedge pattern. We tested the the lower trendline last week and then a small support was taken. Now breakout of this rising wedge will be considered below 43700. Above 44090 if we sustained then more bounce from the lower trendline will unfold. Important turning point level is 44500 in the upside for a bullish momentum. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 44090 then we will long for the target of 44305 and 44515. For selling we need a 15 Min candle close below 43840. T- 43680 and 43475. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 02 Jun 2023BANKNIFTY Intraday Trade Setup For 02 Jun 2023 Buy-Above 44000 Sl-39895 T- 44265 44515 Sell-Below 43700 Sl-43805 T- 43500 43295 BANKNIFTY has once again closed on a bearish note with 0.77% cut. Today it opened flat and traded between last day's range for the whole day. Only in the last 15 Min the range low was tested. Below today's low there will a rising wedge breakdown in hourly TF. So we can expect good down move in below the trendline in hourly TF. Bullish momentum will start above 44500. This will be a short term breakout in the daily TF. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 44000 then we will long for the target of 44265 and 44515. For selling we need a 15 Min candle close below 43700. T- 43500 and 43295. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 1 Jun 2023BANKNIFTY Intraday Trade Setup For 1 Jun 2023 Buy-Above 44270 Sl-44165 T- 44515 44755 Sell-Below 43820 Sl-43925 T- 43575 43330 BANKNIFTY has closed on a bearish note with 0.69% cut today. It opened with a slight gap down and then sell triggered with a very big candle. Trade hit both the targets as per trade setup. 10 o'clock range broke downside below 44050 and gave a trendy move. Trade gave more than 200 points with around 100 points which was 1:2 (44050-43823). Today's low is very important. If tomorrow's low is breached tomorrow then we will initiate the pullback move in daily TF. Sustaining above today's high in daily TF may result in uptrend continuation. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 44270 then we will long for the target of 44515 and 44755. For selling we need a 15 Min candle close below 43820. T- 43575 and 43330. 44045 is turning point for both sides. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 31 May 2023BANKNIFTY Intraday Trade Setup For 31 May 2023 Buy-Above 44500 Sl- 44395 T- 44755 45026 Sell-Below 44360 Sl-44465 T- 44190 43965 BANKNIFTY has once again closed on a slight bullish note with 0.28% gain. Today it opened flat and traded within previous day's range. Nothing triggered as per trade setup. Intraday momentum was complete sideways after the 1st 15 Min candle , just like yesterday. Index has been in consolidating between 44500 and 44190 for the last two days. Breakout of this range may result in trendy move. For tomorrow's session 44500 and 44360 are important levels. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 44500 then we will long for the target of 44755 and 45026. For selling we need a 15 Min candle close below 44360. T- 44190 and 43965. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 30 May 2023BANKNIFTY Intraday Trade Setup For 30 May 2023 Buy-Above 44485 Sl-44380 T- 44755 45026 Sell-Below 44190 Sl-44295 T- 43965 43735 BANKNIFTY has closed with 0.67% gain today. On weekend we discussed that index is ready for another short term bullish momentum which is active now. The daily range has been broken in the upside. Today it opened with a big gap up and then after the 1st 15 Min candle index was inside 10 o'clock range. It was a sideways momentum market. Now approach will be to buy on dips as the mother trend is bullish. Keep a strict trailing in sell side whenever we get. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 44485 then we will long for the target of 44755 and 45026. For selling we need a 15 Min candle close below 44190. T- 43965 and 43735. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 29 May 2023BANKNIFTY Intraday Trade Setup For 29 May 2023 Buy-Above 44070 Sl-43965 T- 44300 44531 Sell-Below 43840 Sl-43945 T- 43580 43330 BANKNIFTY has closed on a slight bullish sentiment last week and day with 0.48% and 0.77% respectively. Last week it was inside the the range of 44160 and 43440 CB. Daily range for this week is 44160 and 43390. This range breakout has to be sustained in daily TF. A good bullish momentum is likely to unfold above ATH. Below 43390 position sell will be triggered. Bullish momentum likely to continue above 44070, best suited on flat on flat opening. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 44070 then we will long for the target of 44300 and 44531. For selling we need a 15 Min candle closes below 43840. T- 43580 and 43330. 43735 can be an intraday support. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 26 May 2023BANKNIFTY Intraday Trade Setup For 26 May 2023 Buy-Above 43720 Sl-43615 T- 43910 44100 Sell-Below 43390 Sl-43495 T- 43200 43017 BANKNIFTY has closed on absolute flat note today. Sell triggered below 43635 and hit our 1st target very smoothly (43635-43391). There was a sharp recovery from the 1st support zone and it closed at day high. Today hourly zone was tested, now below 43390 we will open a short short trade below 43390 positionally. It has formed a pin bar candle in daily charts, above its high 43720 there can be good up move. 43555 is deciding level for both sides in intraday. However we will short below 43390. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 43720 then we will long for the target of 43910 and 44100. For selling we need a 15 Min candle close below 43390. T- 43200 and 43017. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 25 May 2023BANKNIFTY Intraday Trade Setup For 25 May 2023 Buy-Above 43855 Sl-43750 T- 44100 43305 Sell-Below 43635 Sl-43740 T- 43425 43235 BANKNIFTY has closed on a bearish note with 0.63% cut today. It opened with a decent gap down and 10 o'clock range broke upside above 43920 and gave around 90 points gain. Later sell triggered below 43850 and hit our 1st target very smoothly (43850-43640). Till now index is inside hourly range discussed last week. Hourly range is 44160 and 43440. There can be good selling pressure below 43635 if sustained. Above 43855 we can get good upside momentum. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 43855 then we will long for the target of 44100 and 44305. For selling we need a 15 min candle close below 43635. T- 43425 and 43235. Ride the sell move with previous high as TSL in 5 MIN TF. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 24 May 2023BANKNIFTY Intraday Trade Setup For 24 May 2023 Buy-Above 44100 Sl-43995 T- 44305 44555 Sell-Below 43850 Sl-43955 T- 43670 43480 BAKNIFTY has closed with a slight gain 0.16% gain today. It was complete sideways market, except the last 45 Min small downside move. Buy triggered as per trade setup but it just consolidated at buying price almost the whole day which eventually hit sl post 3PM. BANKNIFTY is consolidating tightly in daily and hourly TF. Hourly major swing are 44160 and 43440. Breakout of this range will give us the next trendy move. Above 44100 we can expect good upside momentum. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 44100 then we will long for the target of 44305 and 44555. For selling we need a 15 Min candle close below 43850. T- 43670 and 43480. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
2
BANKNIFTY Intraday Trade Setup For 23 May 2023BANKNIFTY Intraday Trade Setup For 23 May 2023 Buy-Above 44030 Sl-43925 T- 44305 44555 Sell-Below 43680 Sl-43785 T- 43480 43275 BANKNIFTY has closed with a slight cut of 0.19% today. Last day it formed a Pin bar and we anticipated a bullish momentum above its high. It did not trigger our buy level as 15 Min candle did not close. Later sell triggered below 43790 and gave 100 points gain (1:1). A Pin bar candle has been formed once again in daily TF, high and low are very important for a directional move. It has formed a symmetrical triangle in 15 Min TF. Breakout of this and sustained price action will give us a good direction move. Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 44030. T- 44305 and 44555. For selling we need a 15 Min candle close below 43680. T- 43480 and 43275. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 22 May 2023BANKNIFTY Intraday Trade Setup For 22 May 2023 Buy-Above 44021 Sl-43915 T- 44305 44555 Sell-Below 43790 Sl-43900 T- 43530 43290 BANKNIFTY has closed on bullish note last day and week with 0.5% and 0.4% gain respectively. Last week it traded within a range of 750 points. 44160 and 43440 are important levels and hourly range. Breakout of this range will give us a directional move. Last day it formed a pin bar candle in daily TF. So we can expect a good up move above last day's high- 44021. Below 43440 we will initiate a bigger pullback/down move. If we sustain above 44160 then we may hit 45025 in the higher side. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 44021 then we will long for the target of 44305 and 44555. For selling we need a 15 Min candle close below 43790. T- 43530 and 43290. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 19 May 2023BANKNIFTY Intraday Trade Setup For 19 May 2023 Buy-Above 43930 Sl-43825 T- 44150 44355 Sell-Below 43670 Sl-43775 T- 43450 43240 BANKNIFTY has closed with a slight positive gain today. Till now it has not closed below PDL after hitting our ATH target. If it closes below PDL and that red candle's low is breached then will book completely and this will initiate the pullback/down move. Today it opened with a big gap up and 10 o'clock range broke downside below 43844 and gave more than 170 points gain. 43930 and 43670 are important levels. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 43930 then we will long. T- 44150. above 44155 it will test 44355 and 4455. For selling we need a 15 min candle close below 43670. T- 43450. Below 43440 it will test 43240 and 43000. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 18 May 2023BANKNIFTY Intraday Trade Setup For 18 May 2023 Buy-Above 43765 Sl-43660 T- 43957 44150 Sell-Below 43440 Sl-43545 T- 43240 43000 BANKNIFTY has closed on a bearish note with 0.57% cut today. It closed below PDL today. So below today's low our TSL in long will be hit and a down move/pullback may start in this case. Today sell triggered below 43810 and gave more than 350 points gain. Above the trendline plotted on a bullish price structure we may head towards ATH again. Below 43440 it is likely to give good downside move. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 43765 then we will long for the target of 43957 and 44150+ For selling we need a 15 Min candle close below 43440. T- 42240 and 43000. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
1
BANKNIFTY Intraday Trade Setup For 17 May 2023BANKNIFTY Intraday Trade Setup For 17 May 2023 Buy-Above 44155 Sl-44050 T- 44355 44555 Sell-Below 43810 Sl-43915 T- 43570 43330 BANKNIFTY has closed on a bearish note with 0.38% cut today. Yesterday it was updated that our long target is hit (42385-44150). A pause was obvious after a fantastic rally. Sell triggered as per trade setup and gave around 130 points gain (44000-43852). If a daily candle closes below PDL and below that red candle's low we will book longs completely and in this case will will initiate the pullback move. Bullish momentum above 44155 and below 43810 downside momentum possible. Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 44155 then we will long for the target of 44355 and 44555. For selling we need a 15 Min candle close below 43810. T- 43570 and 43330. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 16 May 2023BANKNIFTY Intraday Trade Setup For 16 May 2023 Buy-Above 44155 Sl-44050 T- 44355 44555 Sell-Below 44000 Sl-44105 T- 43800 43595 BANKNIFTY has closed on a bullish sentiment with 0.64% gain today. It hit our 1st target in long which we have been carrying from 42385 (24 Apr). Currently it is giving more than 1700 points. Till now our TSL is intact which is PDL on closing basis. If a daily candle closes below PDL and that red candle's low is breached then we will exit with TSL. In case of TSL we will have a pullback scenario. Sustaining above today's high will lead a fresh rally tomorrow. 44k is important for downside. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 44155 then we will long for the target of 44355 and 44555. For selling we need a 15 Min candle closes below 44000. T- 43800 and 43595. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto