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BANKNIFTY Intraday Trade Setup For 2 Dec 2022BANKNIFTY Intraday Trade Setup For 2 Dec 2022 Buy-Above 43365 Sl-43250 T-43597 43770 Sell-Below 43100 Sl-43210 T-42920 42740 BANKNIFTY has closed on a flat note with just 29 points gain. The 600 points range which was valid since last 5 trading sessions was broken in the higher side via gap gap. As it directly opened above the range high , it slipped from opening and has closed at the range high. This breakout will be confirmed above today's high. Also it is inside the channel pattern in hourly TF. According to trade setup, it directly opened at 1st target in buy side. Later 10 o'clock range broke downside below 43390 and gave more than 250 points gain. Coming to Friday's trade setup, if index opens flat and a 15 min candle closes below 43100 then we will long for the target of 42920 and 42740. For buying we need a 15 Min candle close above 43365. Target will be 43597 and 43770. 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 Dec 2022BANKNIFTY Intraday Trade Setup For 1 Dec 2022 Buy-Above 43340 Sl-43230 T-43522 43710 43950 Sell-Below 43000 Sl-43110 T- 42750 42550 43330 BANKNIFTY has closed on a positive note with 0.41% gain. It is still inside the 600 points range (43340-42740) which is valid since last last 5 trading sessions. Breakout of this range will lead to a initial move of 600 points any side. Any ways tomorrow is expiry so have to be very careful with trailing sl in both way trades. Today it opened flat and sell triggered and gave 1:1 profit. 10 o'clock range gave decent as it broke before sell triggered. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 43340 then we will long for the target of 43522, 43710 and 43950-44k. For selling we need a 15 min candle close below 43000. Target will be 42750, 42550 and 42330. 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 Nov 2022BANKNIFTY Intraday Trade Setup For 30 Nov 2022 Buy-Above 43340 Sl-43230 T-43522 43710 43950 Sell-Below 42995 Sl-43105 T-42740 42550 42330 BANKNIFTY has closed on a flat note with just 33 points gain. Exact same thing happened yesterday where it closed flat with just 36 points gain. A zone is being created, can be a distribution, confirmation is on range breakdown. A range (43340 -42740) of 600 points has been created. Breakout will lead to a initial move of 600 points any side. A shooting star has been formed in daily TF. Index can slide below its low. Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 43340 then we will long for the target of 43522, 43710 and 43950. For selling we need a 15 Min candle close below 42995. A pullback is needed before breakdown. Target will be 42740, 42550 and 42330. 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
PostMortem on BankNifty Today & Analysis of 29 NOV 2022 Looking at the price action i had given a sell short call yesterday - read here I had to literally change the view looking at just the first candle. A mega green 5mts candle that took bank nifty 172+ points & above the swing high of yesterday. The rally did not stop until 11.05 creating a steady buying momentum. From 11.05 to close of day it was a slow fall back to where it all started. Final close just 0.08% above yesterday's close. In the gradual decline there are 2 candles that stands out, one at 14.20 and 14.35 which led bank nifty to fall below the swing high of yesterday. Now we have 2 contradicting signals - a breakout bullish signal in the forenoon session and a gradual bearish signal in the afternoon session. Which do we consider - not quite sure. Remember yesterday we had discussed the massive amounts of call writing especially for 43000, 44000, 45000 & 48000 CE. The pattern is quite similar today also. Approx 25 to 30% of options trading volume came after 15.00 today. Such intensity of call writings happens only when the call writers are confident that the markets will not move higher. I am a strong believer of this leading indicator and continue to be cautiously bearish till we see the call writing vs put writing ratio normalizes. --- Of the bank nifty components HDFC bank started the day strongly, made a peak and then started falling in the afternoon session. Final close was flattish but the pattern showed bearishness ICICI Bank showed intense strength, kept climbing and then showed no signs of reversing even when other banks started falling afternoon. Today's chart pattern looks flattish SBI had a gradual rise and then a regular fall in afternoon - final close flattish AXIS started the day strong, but the fall after 10.25 showed negativity. Although it went underwater only after 15.15 - the chart pattern shows negativity Kotak bank also closed flat but the chart pattern was quite confusing. A gradual fall to start the day, the a quick rise to swing high and then a quick fall to go back to flat line. IndusInd bank showed gradual bearishness. --- 15mts TF shows a top formation in place. If we have a down day tomorrow we can confirm it. 1hr TF shows either an interim double top or a consolidation move - will need to wait for more clarity. ---
NSE:BANKNIFTYShort
by viswaram
Bank nifty Intraday levels for 30.11.2022Resistance level: 43213.10 Support level : 42911.90 ****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 better understanding & how it works 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
BANKNIFTY Intraday Trade Setup For 29 Nov 2022BANKNIFTY Intraday Trade Setup For 29 Nov 2022 Buy-Above 43160 Sl-43050 T-43340 43522 43710 Sell-Below 42960 Sl-43070 T-42740 42550 42330 BANKNIFTY has closed on a flat note with just 36 points gain. It was almost a Open=Low day. It opened with a decent gap down with 200 points cut. As per 10 o'clock range buy triggered @42951 and this trade gave the smoothest and trendy move. More than 200 points grabbed (42951-43159). Today's low will be very important for a downside structure. We are still inside channel pattern in hourly TF. Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 43160 then we will long for the target of 43340, 43522 and 43710. For selling we need 15 Min candle close below 42960. Target will be 42740, 42550 and 42330. We have trail sl with RR ratio in both way be in selling or buying. 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 29.11.2022Resistance level: 43210 Support level : 42944 ****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 better understanding & how it works 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
BANKNIFTY Intraday Trade Setup For 28 Nov 2022BANKNIFTY Intraday Trade Setup For 28 Nov 2022 Buy-Above 43060 Sl-42950 T-43300 43522 Sell-Below 42860 Sl-42970 T-42630 42460 BANKNIFTY closed on a positive note last week but on a slight negative note last day. Week ended with 1.29% gain. On Friday we saw a minor profit booking and it closed with a minor cut of 0.21%. It can be start of profit booking, but we need a negative price action in hourly TF. This profit booking can pull BANKNIFTY till 41750 levels; confirmation in the form of negative price action needed. M pattern is needed in hourly and daily. Or else it will slowly and steadily inch higher. No swing low has been tested yet. Coming to Monday's trade setup, if index opens flat and a 15 min candle closes above 43060 then we will long for the target of 43300. Above 43350 we will hit 43522+. For selling we need a 15 Min candle close below 42860. Target will be 42630. Below 42600 we will hit 42460. 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
PostMortem on BankNifty Today & Analysis of 25 NOV 2022We opened today without a handover from US as it was Thanks giving holiday for them on 24th Nov. Bank nifty opened at 43192 just in line with the last hour trend that started yesterday. And went to a new all time high of 43339 at 09.30. This 5mts candle had a long top wick just hinting of a possible short term top formation. What followed was exactly that - we had a first leg of drop from 09.30 to 11.55 and a 2nd leg of drop from 13.55 to 14.15. But the final closing was a decent one. So from a day's perspective we only had a drop of 0.21% but the intraday chart pattern showed a bit negativity. The moves on monday and tuesday will be crucial as December is usually the month wherein the FIIs book profits for the year. Volumes may drop on Dec that will increase the fluctuation in prices. --- Of the bank nifty components HDFC had a classic bearish pattern today - a sudden morning dip and then a narrow fall ICICI tried to hold on to the flat line till 10.30 but it broke down and then flattened by close SBI was in positive territory till 11.10 after that it too fell underwater, final closing did not see recovery AXIS stayed positive today and was the leading contributor to the index - never fell below the flat line today Kotak had the most bearish pattern for the day, 2 legs of drop today. IndusInd also stayed positive today and ended with gains of 0.98% --- 15mts vs 1hr - the intraday bearishness was not visible on the 15mts or 1hr chart as such. 15mts may create a top formation pattern if we have a fall on monday. 1hr is continuing to show bullish pattern. 1D TF shows bullishness, but today's red candle may indicate a warning for the days to come. 1W timeframe does not really show today's price action that much - as it stands the candle is strong green and we have 3 consistent green weekly candles. The low of this week's candle is the first support level for bank nifty. Also note that we are nearing the top of the decade channel. --- US markets were underperforming Indian markets for this year - there are 2 possibilities that could happen and both of them may not be good for Indian indices FIIs could start selling now, take back money to their mother market as they are starting to move higher Further worsening of global macros or war could force FIIs to sell off and move to cash FII selling will definitely weaken the rupee, further devaluing their returns. Indian indices will not fall if the domestic mutual funds and retail investors keep accumulating shares. But i am starting to think - arent the valuations of these companies simply unexplainably high??? ---
NSE:BANKNIFTYShort
by viswaram
Bank nifty intraday levels for 28.11.2022Resistance level: 43065.25 Support level : 42918.30 ****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 better understanding & how it works 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
BANKNIFTY Intraday Trade Setup For 25 Nov 2022BANKNIFTY Intraday Trade Setup For 25 Nov 2022 Buy-Above 43165 Sl-43050 T-43350 43522 43686 Sell-Below 42870 Sl-42980 T-42676 42460 BANKNIFTY has closed on positive note with 0.81% gain today. It has closed at all time high. As per trade setup buy triggered and gave a move above 42861 till 43160+. It was a bit noisy and sideways for more than 4 hours in between. Rally in NIFTY was smoother as no trailing sl was hit. It has closed above round level- 43000. Bullish sentiment likely to continue above today's high. If a bearish price structure establishes below 43000 in 5 Min TF then we can slide. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 43165 then we will long for the target of 43350, 43522 and 43686. For selling we need 15 Min candle closes below 42870. Target will be 42676 and 42460. 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
PostMortem on BankNifty Today & Analysis of 24 NOV 2022 - ExpiryBank nifty broke out and made an all time high of 43163 today. The opening was at 42838 negating yesterday's fake price move from 15.00 to close. Notice how yesterday's rally continued with the yellow encircled region. Today's open and forenoon trade was in perfect alignment with the rally that started yesterday.  Since its a breakout rally - the momentum was gaining strength and the final 45mts of today's trade is proof of that. Before that BN was in a range a narrow one and the monthly expiry was nothing unusual. But the last 45mts gave some wings to the premium eventhough it was the closing minutes. 43000 CE went from 9.35 to 89.75 between 14.47 and close today, closed in the money with a final value of 76. The reverse is also true, 43000 PE went from 111.9 to 0.05 between 14.47 to close. When the VIX is near the lows ~ 13.47, implied volatility is low - the best option is to go with option buying (obviously we need a trend to make a killing). Personally i wish to stay away from directional trades right now, prefer to execute arbitrage trades. The Euphoria in the market is now at all time highs - just as the markets are. So there could be fake moves or wild swings with no accompanying fundamental reasons. All time highs are not good levels to enter with a purchase intent, because if the market reverses direction - you may end up holding something for years to come. --- Of the Bank nifty components, a common pattern is the last 45mts rally among HDFCBank, SBI, Axis and Kotak. HDFC Bk had a nice start and then it built on the gains, strong buying momentum towards the end ICICI had a relatively smoother slope, no pullback or consolidation intraday - just buying SBI started strong, went underwater and then the last 45mts ensured it ended the day with gains. AXIS had a similar chart like SBI, but the last 45mts gave it extra wings - the slope was approx. 80 to 85 degree Kotak was gradually fading underwater - but the last 45mts ensured it closes in the flattish territory. Indus Ind had a falling graph after a positive open. Took support at the Prev. close and final close was in positive territory. The final 45mts rally did have no effect on IndusInd. --- SPX vs Bank nifty - the spread is now at +6.32% vs 26.99%. US market will be closed today so we will not have any special macro related moves today. --- 15mts vs 1hr - Notice the clear breakout in the 15mts TF. Whereas its depicted as strong momentum in 1hr TF.
NSE:BANKNIFTY
by viswaram
1
BANKNIFTY Intraday Trade Setup For 24 Nov 2022BANKNIFTY Intraday Trade Setup For 24 Nov 2022 Buy-Above 42861 Sl-42750 T-43055 43250 43400 Sell-Below 42629 Sl-42740 T-42478 42347 42200 BANKNIFTY has closed on a positive note with 0.64% gain. A spinning top shaped candle has been formed in daily TF. It was total sideways till 1:30. Till last moment it was trading in 60 points range. Later 10 o'clock range broke upside and gave more than 150 points gain. As per trade setup all targets were only thing was it opened above 1st target. Sharp fall was seen in the last 30 Min. Next resistance will be 43055. Important support is 42200. Break of any these levels can give big move. Coming to Thursday's trades setup, if index opens flat and a 15 min candle closes above 42861 then we will long or the target of 43055,43250 and 43400. For selling we need 15 min candle close below 42629. Target will be 42478 , 42347 and 42200. Tomorrow is Monthly expiry so trade with caution in long side especially. A profit booking from higher levels( 43055) can take place. 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
Bank nifty intraday levels for 24.11.2022Resistance level: 42847.80 Support level : 42662.05 ****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 better understanding & how it works 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
BANKNIFTY Intraday Trade Setup For 23 Nov 2022BANKNIFTY Intraday Trade Setup For 23 Nov 2022 Buy-Above 42510 Sl-42400 T- 42637 42750 42870 Sell-Below 42345 Sl-42455 T-42200 42060 41890 BANKNIFTY closed on a slight positive note with 0.26% gain. Previous day loss regained today and a small tiny candle formed in daily TF. Currently index is just consolidating between a small range which is 42650 and 42200. This range breakout will lead a fresh move either side. Till then index is likely to trade without momentum with ultra short length swings in intraday; VIX has gone below 14. Today buy triggered @ 42390 on a 15 Min candle close and hit the 1st target. It took whole day to hit 115 points target. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 42510 then we will long for the target of 42637, 42750 and 42870. For selling we need a 15 Min candle close below 42345. Target will be 42200, 42060 and 41890. 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 23.11.2022Resistance level: 42663.35 Support level : 42323.55 ****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 better understanding & how it works 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