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Bankniftyforecast

PostMortem on BankNifty Today & Analysis of 04 JAN 2023Probably you would feel it repetitive when i said the nifty and bank nifty made moves when the US markets were on holidays.  Look what happened today with bank nifty - we have negated the 2 day's of price action ie. 02 Jan and 03 Jan. Which means we have closed today at the same value as of 30th Dec The child was having a nice time when the mom was on leave, now that she is back & has grounded him ! Lets now analyze the 5mts TF - BN opens at 43417 and makes a move up in the opening 10mts - HOD 43578 at 09.25. This would be the poor participants who would have taken a long position based on yesterday's price action. And then the first leg of fall from 09.25 to 12.10 a fall of 670pts ~ 1.54%. The bank nifty's fall happened sooner than my marked SR level of 42888.  There was a brief pull back rally from 12.15 to 14.10 almost a 38.2% retracement Fibonacci - notice i have marked the FIB levels based on the HOD and the low formed at 12.10 because that's where it reversed. The 2nd leg of rally had a higher intent but we ran out of time. Bulls need not be that much worried because the first level of support is still not breached. What may have happened would be the after effect of the 2 day unchecked rally. Today's price move in US & tomorrow's expiry may set the tone for further action. check the image above, 49000 CE was traded for 90.52 lakh qty, 46000 CE 1.48 crores, 45000 CE 3.15 Crores, 43000 CE 11.8 Crores. The option trading participation & volumes picked up when the market started moving. Even there was a spike in the option premiums of PE at 12.07 - see 8 charts below - even the far OTM PEs prices almost went up 150% This sets the stage for a wonderful expiry tomorrow. If US market falls today then we can expect further corrections here due to the domino effect created by the options positioning (mostly expiry related). I am skipping the bank nifty component analysis as today's price action would be broad based!
NSE:BANKNIFTY
by viswaram
FASP Levels for BankNifty 05/01/23The FASP for BankNifty is listed for 05-1-2023. 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 under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTYShort
by SathishChandrasekaran
1
BANKNIFTY Intraday Trade Setup For 04 Jan 2023BANKNIFTY Intraday Trade Setup For 04 Jan 2023 Buy-Above 43500 Sl-43390 T-43725 44000 Sell-Below 43345 Sl-43455 T-43170 42990 BANKNIFTY has closed on a positive note with 0.51% gain. It has closed near day high which shows strength. This bullishness will continue above 43500 if sustained above. A good up move can be seen as it has been consolidating in the form of inside candle since last 3 consecutive sessions. But if 43150 is sustained in the downside then we can see down move. Tomorrow's best trade will be on a flat opening. Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 43500 then we will long for the target of 43725-75 and 44000. For selling we need a 15 Min candle close below 43345. T- 43170 and 42990. After that keep trailing. Keep a strict trailing method with RR if price action supports. 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 3 Jan 2023BANKNIFTY Intraday Trade Setup For 3 Jan 2023 Buy-Above 43270 Sl-42160 T-43500 43725 Sell-Below 43040 Sl-43150 T-42840 42600 BANKNIFTY has closed with a bullish sentiment with 0.5% gain today. Today it opened almost flat and later buy triggered above 43210 and gave more than 150 points gain which was more than 1:1.Since last 3 trading session we have been forming consecutive inside candle in daily TF. There has been good contraction in daily and hourly TF. We are likely to give an contraction blast either side on breakout. 42800 and 42500 is very important. Keep a close eye on hourly trendlines. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 43270. A pullback is needed before BO. T- 43500 above which we will test 44000. For selling we need a 15 Min candle close below 43040.T- 42840 and 42600. 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 02 Jan 2023BANKNIFTY Intraday Trade Setup 02 Jan 2023 Buy-Above 43210 Sl-43100 T- 43500 43881 Sell-Below 42830 Sl-42940 T-42604 42378 BANKNIFTY has closed on a bearish sentiment on Friday with 0.6% cut. Monthly candle has closed and is almost flattish with just 0.57% cut. High and low of the last Monthly candle is very important. Above its high- 44155 we will resume the uptrend. Below its low- 41550 we may start a bearish price structure for short term and if this happens in the very next candle then it can create negative topping out structures in monthly TF. As of now uptrend is valid and above 41455 we can start a fresh rally. Last week candle has almost engulfed the previous red candle which is a bullish sentiment. BANKNIFTY is stronger than NIFTY. Coming to Monday's trade setup, if index opens flat and a 15 min candle closes above 43210 then we will long. T-43500 and 43880. For selling we need a 15 Min candle close below 42830. T-42600 and 42378. 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 Short Term Overview Happy New Year 2023!! In this video, I share my analysis for Bank Nifty for short term overview. I use my own technique called FASP to identify the immediate targets for the index. These levels are important to recognize where the key resistance and support points exist. Map these levels to your charts and explore how it works for you. Wish you a very happy and profitable year ahead! The Short Term FASP for BankNifty is listed for 02-1-2023. 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 under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 6 Months How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTY
by SathishChandrasekaran
FASP Levels for BankNifty 02/1/2023The FASP for BankNifty is listed for 02-1-2023. 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 under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTYShort
by SathishChandrasekaran
BANKNIFTY Intraday Trade Setup For 30 Dec 2022BANKNIFTY Intraday Trade Setup For 30 Dec 2022 Buy_1-Above 43500 Sl-43390 T- 43860 44170+ Buy_2- From 42990 Sl-42880 T-43250 43500+ BANKNIFTY has closed on a bold bullish note with 1% gain. It has closed near day high which is once again a positive sign left for next trading session. This bullish momentum is likely to continue above today's high- 43500. A pullback is needed before breakout. Or else there will be issue in sl calculation as swing low will be far and due to market structure mid way a pullback can come. So 1st thing is pullback an the 2nd thing is tight trailing. As per last trade setup, buy sell an buy triggered both an gave both way profit. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 43500 then we will long for the target of 43860 and 44170+. Pullback is needed to execute this trade. If index gives a pullback in the 1st hour then it can test 42990. So we will plan for a buy from this level also. This level will work when it opens below or at today's high. 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
FASP Levels for BankNifty 30/12/22The FASP for BankNifty is listed for 30-12-2022 . 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 under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. V alidity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTYShort
by SathishChandrasekaran
FASP Levels for BankNifty 29/12/22The FASP for Bank Nifty is listed for 29-12-2022 . 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 under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: Only valid for the intraday mentioned above. How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support, Purple is either strong support or resistance and blue is regular resistance. Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTYShort
by SathishChandrasekaran
BANKNIFTY Intraday Trade Setup For 29 Dec 2022BANKNIFTY Intraday Trade Setup For 29 Dec 2022 Buy-Above 43035 Sl-42925 T-43245 43510 43770 Sell-Below 42690 Sl-42800 T-42530 42385 42200 BANKNIFTY has closed on a absolute flat note. Today's closing is evident to tell what type of sentiment it was there in today's session. It was total sideways as it was near 43000 round level. Today buy triggered above 42930 and gave more than 1:1. It was mentioned in the trade setup that 43k is round level and effect will be seen. Today it traded within 340 points and formed a tiny candle in daily chart. Above its high and low next movement will be triggered. Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes above 43035. T- 43245, 43510 and 43770. For selling we need a 15 min candle close below 42690. T- 42530, 42385 and 42200. 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
Bank nifty Intraday levels for 29.12.2022 monthly ExpiryResistance level:43023.60 Support level : 42532.05 ****Fib Retracement levels will act as the support or resistance**** If candles are sustaining or break above resistance level , we can expect upside move and the targets will be fib retracement levels as per chart If candles are sustaining between resistance and support levels, consider as neutral If candles are consolidating in buy zone or sell zone, wait for the breakout If candles are sustaining or break below support level , we can expect downside move and the targets will be fib retracement levels as per chart. If gap up or gap down opening, fib retracement levels will act as the support or resistance *** For quick scalping use 5-minute time frame***** Note: Pls check my previous day ideas for back testing & better understanding Please let me know in comment section if you have any queries and like the idea If you agree with the analysis. Disclaimer: Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research
NSE:BANKNIFTY
by AATHIE
PostMortem on BankNifty Today & Analysis of 28 DEC 2022When i said i was bearish yesterday, a drop of 32pts was not what i was referring to. Bank nifty held its head high almost the entire day, only the 15.10 candle shows some signs of weakness & a minor break of support. I was literally unable to take any trades today such was the move of bank nifty today. Well it did not move - killing out the premiums of options both CE and PE. Usually i dont miss any day or sizeable opportunity - but today it was quite a different day ! As you all know i am an option seller only when there is anomaly, i can say with 100% guarantee that today there was nothing. Either the total volumes were very low & speculations were near zero. Or the traders were not taking fresh positions for the expiry tomorrow. Finally the only trade i took today was a ratio spread by selling 1 lot of 42500 PE and buying 2 lots of 42400 PE - yes a bearish bet for tomorrow. The options premium are not indicating any direction and this position i took was basically a hunch not backed by any indicator or confirmed signals. Yesterday the US markets SPX closed with losses of 0.4%, Nasdaq with a loss of 1.48%. Prior to all these happening i had written in the article yesterday that if US trades lower there is every possibility that we end the day red on 28th. We did end the day in RED - but i am not at all happy, as i was expecting cuts of more than 1% on Nifty50, 2% on bank nifty and a bigger fall on NiftyIT. --- Of the bank nifty components: HDFC bk and ICICI bank had a similar chart pattern and both ending in red. SBI's chart pattern was looking bullish but the last 30mts brought it below the flat line. AXIS bank has something fishy, the cuts in the last 45mts were brutal with heavy volumes. Kotak had one special candle at 13.45 with high volumes but probably this was sold into in the last 45mts IndusInd held its ground and ended the day in green. --- 15mts vs 1hr could be a lower high formation if i got it right. Monthly expiry coming up tomorrow and much fierce US market trading days ahead. Low volumes may spike the spreads wider creating sharper moves but with little meaning.
NSE:BANKNIFTYShort
by viswaram
BANKNIFTY Intraday Trade Setup For 28 Dec 2022BANKNIFTY Intraday Trade Setup For 28 Dec 2022 Buy-Above 42930 Sl-42820 T-43245 43510 Sell-Below 42720 Sl-42835 T- 42400 42055 BANKNIFTY has closed on a slight positive note with 0.54% gain. It has closed near day high which is a positive sentiment. This bullish sentiment will continue if it sustains above today's high. Today it opened near PDH and fell sharply, around 500 points. Sell was triggered below 42530 and gave more than 1:1 profit. Later it made a Pinbar candle in 15 Min TF and made a bottom later it was converted into a double bottom. If today's high is sustained then we can test 43770 in the coming days. Below 42390 we can slide lower. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 42930. T- 43245, 43510 and 43770. 43000 is very important and have to be keenly watched. For selling we need a 15 Min candle close below 42720. T- 42055. Below 42000 we can test 41820 and 41600. 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
FASP Levels for BankNifty 28/12/22The FASP for Bank Nifty is listed for 28-12-2022. 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 under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: Only valid for the intraday mentioned above. How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support, Purple is either strong support or resistance and blue is regular resistance. Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTY
by SathishChandrasekaran
BANKNIFTY Intraday Trade Setup For 27 Dec 2022BANKNIFTY Intraday Trade Setup For 27 Dec 2022 Buy-Above 42850 Sl-42740 T-43010 41180 43390 Sell-Below 42530 Sl- 42640 T-42290 42055 BANKNIFTY has closed on a positive note with 2.31% gain. It has formed a big bullish engulfing candle in daily TF. We discussed yesterday that 41500 juncture is very important and can act as a base. Today it opened near the same region and buy triggered as per trade setup and a hit all targets. Buy triggered above 41845 and gave a move till 42845. No TSL hit in 5 Min charts. It was a bounce from 0.382 Fib level in daily TF. Tomorrow's best trade will be on flat opening. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle close above 42850 then we will long for the target of 43010 and 43177. For selling we need a 15 Min candle close below 42530. Target will be 42290 and 42055. 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 Dec 2022BANKNIFTY Intraday Trade Setup For 26 Dec 2022 Buy- 41845 Sl-41735 T- 42040 42230 Sell-Below 41595 Sl-41705 T-41290 41050 BANKNIFTY has closed on a negative note last day and last week. We already discussed that since last 11 weeks index was closing above Previous Week Low (PWL). It was clearly mentioned last week that if we break last week's low- 43080 then we will see good down move which will be the initial pullback of the mega rally. After trigger index has given 1480+ points non stop trendy move. 1st target will be near 40765 and to ride till target TSL will be PDH. Also 41500 is a round level so there can be halt at this juncture. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 41845 then we will long for the target of 42040 and 42230. For selling we need a 15 Min candle close below 41595. T- 41290, 41050. 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
BankniftyThe global market indicates a negative start. The market nature is bearish to neutral. The market may start with a gap-down. After the gap-down market takes a pullback around the major key levels, then we will expect a minor pullback. And if the pullback breaks the previous day's minor high, then we will expect minor consolidation to pullback continuation. On the other hand, if the market breaks the immediate support, then we will expect correction continuation.
NSE:BANKNIFTYShort
by Manickamtraders
2
FASP Levels for BankNifty 23/12/22The FASP for Bank Nifty is listed for 23-12-2022. 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 under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: Only valid for the intraday mentioned above. How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support, Purple is either strong support or resistance and blue is regular resistance. Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTY
by SathishChandrasekaran
2
BANKNIFTY Intraday Trade Setup For 23 Dec 2022BANKNIFTY Intraday Trade Setup For 23 Dec 2022 Buy-Above 42640 Sl-42530 T- 42950 43370 Sell-Below 42230 Sl-42340 T-41890 41550 BANKNIFTY has closed on a bearish sentiment with 0.49% cut. It opened with a decent gap up near previous swing high in 15 Min TF. The bearish sentiment kicked in and gave a nose dive from there. Our sell level was 42550. I updated not to short in the impulsive move. Short after the pullback. As soon as that happened it gave a smooth fall till 41235. 10 o'clock range also broke downside. Today index gave multiple decent bounces also. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 42640 then we will long for the target of 42950-42k. Next target after that will be 43370. For selling we need a 15 Min candle close below 42230. T- 41890. Post bounce if slide then we will test 41500-50. 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
4