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BANKNIFTY Intraday Trade Setup For 21 Nov 2022BANKNIFTY Intraday Trade Setup For 21 Nov 2022 Buy-Above 42480 Sl-42370 T-42620 42835 43055 Sell-Below 42220 Sl-42330 T-42060 41918 41725 BANKNIFTY closed on an absolute flat note on Friday. The week ended with a slight gain of less than 1%. In nut sell whole week was sideways. Last day as per trade setup, sell triggered and gave 140 points gain. Later it closed at mid point. Small range i.e 42625 and 42220 will decide the next move on breakout. Also we need a proper price structure (M) for sell side. This small range is important to watch out for a ultra short span of time. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 42480 then we will long for the target of 42620. Above 42650 if sustained then we will hit 42835 an 43055. For selling we need a 15 Min candle close below 42220. Target will be 42060. Below 42000 if sustained we will hit 41725. 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
BANKNIFTY Intraday Trade Setup For 18 Nov 2022BANKNIFTY Intraday Trade Setup For 18 Nov 2022 Buy-Above 42625 Sl-42510 T-42835 43055 Sell-Below 42360 Sl-42470 T-42190 42000 BANKNIFTY has closed on a slight negative note with 0.18% cut today. A shooting star has been formed in daily TF which is a sign of reversal. It will be confirmed below its low- 42360. Today it traded inside previous day's range completely. Nothing was triggered as per trade setup. Index has formed a 160 points range in last 2 days. Breakout of this range (42625 and 42360) will trigger the next move. Initial target post breakout will be 250 points either side. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 42625 then we will long for the target of 42835 and 43055. For selling we need a 15 Min candle close below 42360. Target will be 42190 and near 42000. 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 17 Nov 2022BANKNIFTY Intraday Trade Setup For 17 Nov 2022 Buy-Above 42615 Sl-42500 T-42835 43055 Sell-Below 42398 Sl-42410 T- 42190 42000 BANKNIFTY has closed on a positive note with 0.38% gain. Last day inside candle's range was broken in higher side above 42350 and told that this breakout will be matured above PDH. So has happened and gave 150 points up move above our buy level. It just traded in a 300 points range as VIX and volume both have collapsed since last week. Next important resistance is 43055. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 42615 then we will long for the target of 42835 and 43055. For selling we need a 15 Min candle close below 42398. Target will be 41190 and near 42000. Below 41900 it will slide more. 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
bank nifty intraday levels 17.11.2022Resistance level: 42718.80 Support level : 42439.45 ****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 16 Nov 2022BANKNIFTY Intraday Trade Setup For 16 Nov 2022 Buy-Above 42451 Sl-42340 T- 42640 42835 Sell-Below 42229 Sl-42340 T-42060 41920 BANKNIFTY has closed on a positive note with 0.7% gain today. Today it opened between the inside candle's range and traded inside till last hour. Nothing was triggered as per trade setup till last moment. In the late 2nd half buy triggered as per trade setup and gave 100 points move. The inside candle's range has been broken but has not closed above in daily TF. Above today's high it will be matured. Next important resistance will be 43055 which is also a round level. Below 41900 down move will be triggered. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 42451 then we will long for the target of 42640 and 42835. Extended target will be 43055. For selling we need a 15 min candle close below 42229. Target will be 42060 and 41920. Below 41900 a good down move can be seen. 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 15 Nov 2022BANKNIFTY Intraday Trade Setup For 15 Nov 2022 Buy-Above 42350 Sl-42230 T- 42580 42835 43055 Sell- Below 41915 Sl-42025 T-71725 41530 41300 BANKNIFTY has closed on a flat note with just 60 points cut. An inside candle has been formed in daily TF. Inside candle's are formed when there is volatility contraction, today it traded within a small range of 270 points only. Today sell triggered as per trade setup and gave almost 1:1 profit. Already updated to manage RR in these sideways market. Inside candle's range is 42350 and 41915. Breakout of this range can decide the next momentum any side. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 42350 then we will long for the target of 42580, 42835 and 43055. For selling we need a 15 Min candle close below 41915. Target will be 41725, 41530. Below 41500 we can test 41300 and below. Index will be weak below 41965. 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 14 Nov 2022BANKNIFTY Intraday Trade Setup For 14 Nov 2022 Buy-Above 42350 Sl-42235 T-42580 42835 43055 Sell-Below 42070 Sl-42185 T-41880 41575 41300 BANKNIFTY gave a all time high closing last day and week. It closed with a moderate gain of more than 2% last week. Now it can stretch itself with extended gains from these levels. This leg of up-move started above 39610 which was well updated with all of you. Now TSL for long will be 41300. This level should be held firmly by the bulls. In case it slips below this level then it will start a downside journey to test 40800 and below levels. While important swing low is weekly TF is 37385. Also for any down move we have to spot a bearish price structure (M) in daily TF. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 42350 then we will long for the target of 42580, 42835 and 42055. For selling we need a 15 Min candle close below 42070. Target will be 41880, 41575 and 41300. Keep a strict trailing sl with RR. 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 14.11.2022Resistance level: 42376.35 Support level : 41951.75 ****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 idea 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 support and resistance levels for the month of Nov2022Resistance level: 42403 Support level: 36572 Neutral Zone: 38516-40459 If candles are consolidating in neutral zone, wait for the breakout either one side. If candles are break or sustaining above Neutral zone, we can expect upside move and the targets will be resistance level , Target1 and target2 as mentioned in chart If candles are break or sustaining below Neutral zone, we can expect downside move and the targets will be support level , Target1 and target2 as mentioned in chart 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 11 Nov 2022BANKNIFTY Intraday Trade Setup For 11 Nov 2022 Buy-Above 41645 Sl- 41535 T-41950 42230 Sell-Below 41315 Sl- 41425 T-41050 40820 BANKNIFTY has closed in negative with positive sentiment. It has closed with 0.43% cut but at day high. Today it opened below our sell level via gap up. 10 o'clock range broke downside below 41455 and gave a move till 41320. This trade gave more than 130 points profit which was 1:2 as per intraday chart. Then in the 2nd half usual recovery happened which is happening since last 3 days. Important resistance as of now is 41950-42000. Above which a short covering move can be expected. Coming to Friday's trade setup, if index opens flat and a 15 min candle closes above 41645 then we will long for the target of 41950 and 42230. Then trail as per intraday charts for further up move. Important resistance will be 42440-42500. For selling we need a 15 Min candle close below 41315. Target will be 41050 and 40820. Chances of a big gap up is high due to US CPI numbers. 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 11.11.2022Resistance level: 41729.25 Support level : 41489.85 ****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 idea 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 10 Nov 2022BANKNIFTY Intraday Trade Setup For 10 Nov 2022 Buy-Above 41950 Sl-41840 T-42230 42421 42575 Sell-Below 41665 Sl-41775 T-41465 41250 41050 BANKNIFTY has closed at ATH with slight gain of about 100 points today. Last day we planned to buy above 41780 on a 15 Min candle close. 2nd candle closed and gave more than 150 profit. BTW it was a heavy rangebound market today, some movement was seen only in the 2nd half. Today's range will be used for tomorrow's trading session. Coming to Thursday's trading session, if index opens flat and a 15 Min candle closes above 41950 then we will long for the target of 42230,42421 and 42575. For selling we need a 15 min candle close below 41665. Target will be 41465, 41250 and 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
BANKNIFTY Intraday Trade Setup For 9 Nov 2022BANKNIFTY Intraday Trade Setup For 9 Nov 2022 Buy-Above 41780 Sl-41670 T- 42065 42230 42421 Sell-Below 41530 Sl-41640 T-41340 41050 40820 BANKNIFTY has closed on a positive sentiment with 1% gain on Monday. Last day it opened with a big gap up, directly at our 1st buy target. 10 o'clock range broke downside below 41560 and gave a move till 41340. The daily candle is a hanging man which is a sign of weakness in uptrend. But this is will be confirmed only below its low. The weekly doji candle's high has been broken; sign of continuation. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 41780 then we will long for the target of 42065. This can act as a resistance. Next target if sustained will be 42230 and 42421. For selling we need a 15 Min candle close below 41530. Target will be 41340. Post bounce we will head towards 41050 and 40800-20. 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 07 NOV 2022Quite an eventful day today, Banknifty opened mega gap up at 41740 crossing 2 resistance levels in a single go (41314 & 41459). The first candle was red but with a long wick on the bottom - indicating that the opening trade was favoring the buyers. The major reason for the gap up was SBI which published good results this quarter. There was a decent fall till 11.25 where the BN tried to cross the 41459 support level - but it couldnt until 13.20. The candle at 13.20 was pretty long and red maybe just indicating that there could be a bit of selling pressure in the days ahead - unless the SBI results are macro shift capable. BN took support at 13.30 and then had a decent & strong buying momentum till close. It went from 41338 to 41758 between 13.30 to 15.20. The green candle at 15.00 negated the red one formed at 13.20 So now we have the BN near the all time highs and no more resistance levels - this make it quite difficult to set a risk:reward ratio for the trades. --- Of the major bank nifty components SBI ended the day with a gain of 3.4% making a 52wk high of 622.7 HDFCBk traded the 1st hour with a negative bias, and then made a strong rally from 10.15 ICICI started positive and then faded into red by 13.25 and then had a super rally to close the day Axis bank also started gap up went to negative territory by 10.25 made an intraday low at 11.25, a retracement bounce till 12.20 and then slipped back to negative. The final hour showed strength and the closing was in green. Kotak and IndusInd had a similar kind of chart pattern, gap up opening and then trading below the negative territory throughout the day. --- Look at the open and close prices - they are almost the same. Guess what would have worked today? Yes short iron fly.  Also shorting CE options or doing a CE credit spread would have worked out well as the time decay was higher due to holiday on 8th Nov. But shorting the calls would require quite some nerves as the bank nifty is as all time highs and there is no resistance. Mostly markets will follow the path of least friction, here it says UP. Because we do not have any more levels to watch. A single breakout rally can shoot the option premiums exponentially high. So request all traders to either set the stop losses or get into fixed loss strategies like ratio spreads, iron condor, iron fly or credit spreads (emphasis on credit as the time decay will help) --- SPX and bank nifty gap keeps diverging. There is a possibility of convergence if SPX rallies this week. As the mid terms elections and the US CPI data is due this week - we can expect an eventful price action till 11th Nov. The nearest support level is at 3737 and the resistance level is at 3813. From the 1hr red candle made on 14.30 there may be stiff resistance going into 3800+ levels. But if SPX manages to cross above that then the next 100pts can be scaled up so easily. --- 15mts is showing sideways market only, even though we had a gap up and resistance breach 1hr shows bullish momentum unless otherwise it settles for a top formation. So we watch the next 3 days closely and then decide --- Bank nifty support & resistance levels s1: 41459, s2: 41314 r1: no resistance as near ATH --- PS: Read the standard disclaimer at: bit. ly/3Nm3RER
NSE:BANKNIFTY
by viswaram