Get started

Bankniftyforecast

BANKNIFTY Weekly Outlook | Intraday Trade Setup For 24 Sep 2023BANKNIFTY Intraday Trade Setup For 24 Sep 2023 Bullish-Above 44790 Invalid-Below 44680 T- 45050 45385 Bearish-Below 44540 Invalid-Above 44650 T- 44270 44000 BANKNIFTY has closed on a complete bearish note last week with 3.5% cut. It has formed a double top structure in daily TF although breakout of the neckline (43600) will be the validation. Currently it is near 0.618 in daily TF so 44500 zone is going to be a base from where it can give retracement of the fall from 46310, while 45k is the reversal point. After a pullback if it breaks the low created say near 44500 zone we can plan a positional short. As of now it can go sideways after a parabolic move. Coming to Monday's trade setup, if index opens flat and a 15 min candle closes above 44790 post rejection then we will buy. T- 45050 and 43385. For selling we need a 15 Min candle close below 44540. T- 44270 and 44000. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 22 Sep 2023BANKNIFTY Intraday Trade Setup For 22 Sep 2023 Sell_1-From 45040 Invalid-Above 45150 T- 44800 Sell_2- Below 44590 Invalid-Above 44700 T- 44345 44100 BANKNIFTY has closed on a bearish note once again with 1.68% cut today. Once again it opened with slight gap down and tested our sell level. It just crashed after that and all targets were achieved (45270- 44593). Also since it opened with slight gap down so 10 o'clock range was to be used. Range broke downside below 45098 and last swing high was near 45120. With 100 points risk it gave almost 400 points gain. Tomorrow in case of a gap up opening 45040 will be place to short. After a fall near 44800 if it breaks 45050 then it will fill the gap and that will be bullish trade plan. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes below 44590 then we will short for the target of 44345 and 44100. 2nd sell will be from 45040 on a gap up opening. T- 44800. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 21 Sep 2023BANKNIFTY Intraday Trade Setup For 21 Sep 2023 Bullish-Above 45470 Invalid-Below 45360 T- 45650 45820 Bearish-Below 45270 Invalid-Above 45380 T- 45025 44780 BANKNIFTY has closed on a bearish sentiment with 1.29% cut today. It opened with a big gap down and 10 o'clock range was to be used as per trade setup. Range broke downside below 45454 and last swing high was near 45550. With 100 points risk it gave more than 170 points gain till 45277. Tomorrow there is a high chance of recovery as it at hourly support zone. In case it opens flat or below 45460 on break of 45470 in 15 Min TF we can trade the bounce in hourly TF. 44800 and 45820 are important support and resistance respectively. Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes above 45470 then we will long for the target of 45650 and 45820. For selling we need a 15 min candle close below 45270. T- 45025 and 44780. 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.
NSE:BANKNIFTY
by Omahto
2
BANKNIFTY Intraday Trade Setup For 20 Sep 2023BANKNIFTY Intraday Trade Setup For 20 Sep 2023 Bullish-Above 46160 Invalid-Below 46050 T- 46400 46630 Bearish-Below 45900 Invalid-Above 46010 T- 45679 45397 BANKNIFTY has closed on a bearish note with 0.54% cut today. It It was sideways and zone till 1'0 clock. Later at the time of closing post 3 PM there were spikes in the downside. Nothing triggered as per trade setup today till 3 PM. Post 3 PM sell was triggered which was void. On a flat opening below 45900 there can be decent sell off in intraday. For a bullish view we have to wait till 46150-60 is sustained in 15 Min TF. it is near ATH so there can be sideways activity before it gets lifted or crashed. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle close below 45900 then we will short for the target of 45679 and 45397. For buying we need a 15 Min candle close above 46160. T- 46400 and 46630. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 18 Sep 2023BANKNIFTY Intraday Trade Setup For 18 Sep 2023 Bullish-Above 46320 Invalid-Below 46210 T- 46585 46855 Bearish-Below 46020 Invalid-Below 46130 T- 45720 45415 BANKNIFTY has closed on a bullish sentiment with 2.88% gain last week. Before Sep 8 we were waiting for the daily range shift to get a directional move. Range was 45k and 44K which broke in the upside on 8 Sep and we got a decent move (45160-46310, more than 1:1). Also we are very close to our target which is a fresh ATH. Now either one can book some or trail sl to PDL (CB). Incase case of a gap down tomorrow 45700 zone can act as support zone. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 46320 then we will long for the target of 46585 and 46855. For selling we need a 15 min candle close below 46020. T- 45720 and 45415. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 15 Sep 2023BANKNIFTY Intraday Trade Setup For 15 Sep 2023 Bullish-Above 46160 Invalid-Below 46050 T- 46450 46750 Bearish-Below 45800 Invalid-Above 45910 T- 45530 45290 BANKNIFTY has closed with a slight gain of 0.2% today. It opened with a slight gap up and buy triggered as per trade setup above 46000 which hit sl after giving small momentum. Later 10 o'clock range broke downside below 45912 and gave around 100 points. Yesterday 45800 was projected a pullback support before the buy level. 45800 acted as a iron support for the rest of the day. Tomorrow there can be good sell off on break of 45800. Above 46160 if sustained we can create a fresh ATH. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 46160 then we will long to the target of 46450 and 46750. For selling we need a 15 Min candle close below 45800. T- 45530 and 45290. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 14 Sep 2023BANKNIFTY Intraday Trade Setup For 14 Sep 2023 Bullish-Above 46000 Invalid-Below 45890 T- 46250 46515 Bearish-Below 45610 Invalid- Above 45720 T- 45295 45050 BANKNIFTY has closed on a bullish note with 0.87% gain today. Buy triggered as per trade setup above 45630 and 1st target was achieved very smoothly (45630-45990). Initially sell level was tested but not sustained. On Apr 8 daily range was broken in the upside above 45k and was updated that we will have a direction move and is approaching its ATH. Now TSL swing position is today's low- 45290. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 46000 then we will long for the target of 46250 and 46515. For selling we need a 15 min candle close below 45610. T- 45300 and 45050. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 13 Sep 2023BANKNIFTY Intraday Trade Setup For 13 Sep 2023 Bullish-Above 45630 Invalid-Below 45520 T- 45915 46150 Bearish-Below 45320 Invalid-Above 45430 T- 45050 44770 BANKNIFTY has closed with a slight cut of 0.13% today. It was a roller coaster ride since opening, huge volatility. It opened directly near our 1st buy target via a big gap up. 10 o'clock range was to be used as per trade setup. Range broke downside below 45400 and last swing high was 45455. Small sl was hit today. Tomorrow best trade will be on flat opening. In case of a big gap down near 45100 it can give a sharp bounce. In case of a gap up it can find resistance near 45700. Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 45630 then we will long for the target of 45915 and 46150. For selling we need a 15 Min candle close below 45320. T- 45050 and 44770. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 12 Sep 2023BANKNIFTY Intraday Trade Setup For 12 Sep 2023 Bullish-Above 45640 Invalid-Below 45530 T- 45900 46150 Bearish- Below 45360 Invalid-Above 45470 T- 45050 44770 BANKNIFTY has closed on a bullish note with almost 1% gain today. Buy triggered as per trade setup above 45390 and 1st target was achieved (45390-45560). However the momentum was a bit lethargic. Daily range broke upside last week above 45k is also approaching towards its ATH most probably. Only thing is that it is lacking momentum however that's a trait of bull. Tomorrow also we can expect bullish momentum above today's high, idle trade will be post a pullback. Buying from support should also be approached in intraday. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 45640 then we will long for the target of 45900 and 46150. For selling we need a 15 Min candle close below 45360. T- 45050 and 44770. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 11 Sep 2023BANKNIFTY Intraday Trade Setup For 11 Sep 2023 Bullish-Above 45390 Invalid-Below 45280 T- 45645 45900 Bearish-Below 45030 Invalid-Above 45140 T- 44770 44497 BANKNIFTY has closed on a bullish note last week and day with 1.62% and 0.62% gain respectively. It gave a breakout of the daily range (45k and 44k) in the upper side. We can expect continuation above 45400 now and next stop looks near 45600-50 zone which is a gap area. Weekly support is too far now which is 43600, gateway for downside. 45390 and 45030 are two important levels for next session. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 45390 then we will long for the target of 45645 and 45900. For selling we need a 15 Min candle close below 45030. T- 44770 and 44497. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 08 Sep 2023BANKNIFTY Intraday Trade Setup For 08 Sep 2023 Bullish-Above 44920 Invalid-Below 44810 T- 45130 45365 Bearish-Below 44670 Invalid-Above 44780 T- 44440 44200 BANKNIFTY has closed on a bullish note with 1.06% gain today. Tomorrow's daily closing is very important above 44950/44000 for a range shift for 1000 points rally in the coming days. Today buy triggered as per trade setup above 44670 and hit 1st target very smoothly (44670-44915). Bullish move likely to continue above today's high on flat opening. Intraday sentiment will change to bearish below 44670. Be very strict in trailing tomorrow for both side trades. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 44920 then we will long for the target of 45130 and 45365. For selling we need a 15 Min candle close below 44670. T- 44440 and 44200. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 07 Sep 2023BANKNIFTY Intraday Trade Setup For 07 Sep 2023 Bullish-Above 44670 Invalid-Below 44560 T- 44950 44275 Bearish-Below 44200 Invalid-Above 44310 T- 43965 43725 BANKNIFTY has closed with a slight cut of 0.28% today. It opened flat and sell triggered as per trade setup below 44400 and gave a decent move of 180 points till 44210. Once again a pinbar candle in daily TF but of no use inside the daily range. Daily range is still intact- 44k and 45k. Tomorrow above today's high if sustained in 15 Min TF then there can be a bullish momentum. However we will buy above 44670. It will bearish below 44200. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 44670 then we will long for the target of 44950 and above 44k 44275-95. For selling we need a 15 Min candle close below 44200. T- 43965 and 43725. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 06 Sep 2023BANKNIFTY Intraday Trade Setup For 06 Sep 2023 Bullish-Above 44670 Invalid-Below 44560 T- 44950 44250-300 Bearish-Below 44400 Invalid-Above 44510 T- 44100 43800 BANKNIFTY has closed almost on a flat note day. Nothing triggered as per trade setup today. It just traded between yesterday's buy/resistance and sell sell/support levels. Two consecutive Pin bar candles in daily charts, Above and below its higher and lower range there will be a good directional move. Daily range is intact which is 44950/45k and 44k. Tomorrow above 44670 it can give a good momentum, 44950 will the 1st stop. Above 44k if sustained there can be a short covering. 44400 is the downside gateway. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 44670 then we will long for the target of 44950 and 44275-300. For selling we need a 15 Min candle close below 44400. T- 44100 and 43800. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 5 Sep 2023BANKNIFTY Intraday Trade Setup For 5 Sep 2023 Bullish-Above 44660 Invalid-Below 44550 T- 44950 45215 Bearish-Below 44400 Invalid-Above 44510 T- 44100 43800 BANKNIFTY has closed on a bullish note with 0.32% gain. Today it opened with a big gap up so 10 o'clock range was to be used. 10 o'clock range broke downside below 44399 and and last swing high was 44460. It gave 80 points which was more than 1:1. Later buy triggered as per trade setup above 44570 which ended at cost. On a flat opening above 44670 bullish momentum likely to continue. 44935-50 will be an intraday resistance above which it will test 45215. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 44660 then we will long for the target of 44935-50 and 45215. For selling we need a 15 Min candle close below 44400. T- 44100 and 43800. 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.
NSE:BANKNIFTY
by Omahto
1
BANKNIFTY Intraday Trade Setup For 04 Sep 2023BANKNIFTY Intraday Trade Setup For 04 Sep 2023 Bullish-Above 44570 Invalid-Below 44460 T- 44917 45250 Bearish-Below 44220 Invalid-Above 44330 T- 43895 43600 BANKNIFTY has with 0.46% gain last week. It closed almost on neutral note as it is at midpoint from the breakout levels. 44950/45k and 43600 is the weekly range. Breakout of this will lead to a big or at least decent directional move. Aug month candle closed and its on bear grip. Only below 43600 this grip will be confirmed or else it will be sideways. Weekly range is very important to look for a direction. 44917 and 43895 are important resistance and support zones for Monday. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 44570 then we will long for the target of 44917 and 45250. For selling we need a 15 min candle close below 44220. T- 43895 and 43600. 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 1 Sep 2023BANKNIFTY Intraday Trade Setup For 1 Sep 2023 Bullish-Above 44110 Invalid-Below 44000 T- 44357 44583 Bearish-Below 43890 Invalid-Above 44000 T- 43600 43239 BANKNIFTY has closed on a bearish note with 0.55% cut today. Yesterday I indicated a pullback scenario to short again from higher levels. This was simple market structure thing as yesterday's impulse needed a pullback. Today without a pullback it dipped and sell triggered which hit sl later sell triggered below 44140 again and hit our 1st target (43900) very smoothly. Tomorrow 44110 and 43890 are important levels for intraday. Coming to Friday's trade setup, if index opens flat and a 15 min candle closes above 44110 then we will long for the target of 44357 and 44583. For selling we need a 15 Min candle close below 43890. T- 43600 and 43239. 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 Aug 2023BANKNIFTY Intraday Trade Setup For 31 Aug 2023 Sell_1_From 44550 Invalid-Above 44660 T- 44350 44150 Sell_2- Below 44140 Invalid-Above 44250 T- 43875 43600 BANKNIFTY has closed on a bearish note today with 0.59% cut. It opened with a very big gap up today so 10 o'clock range was to be used as per trade setup. 10 o'clock range broke downside below 43635 and last swing high/sl was 44695 in 5 Min TF. With just 60 points sl it gave a mega gain of 450+ points, also no previous swing high was tested so TSL was intact. Tomorrow in case of a gap near 44550 would be an opportunity to sell again with 110 points risk. Below 44140 bearish sentiment likely to follow. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes below 44140 then we will short for the target of 43875 and 43600. In case of a gap up if 44550 is tested in the first hour then we will short from there. T- 43350 and 43875. 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 Aug 2023BANKNIFTY Intraday Trade Setup For 30 Aug 2023 Bullish-Above 44600 Invalid-Below 44490 T- 44840 45045 Bearish-Below 44420 Invalid- Above 44530 T- 44194 43915 BANKNIFTY has closed on an absolute flat note today. It was sideways the day. Nothing triggered as per trade setup today. Tomorrow if it sustains above today's high then there can be a good up move. However we will plan an aggressive entry above 44600 itself. Below 44220, if sustained then there can be good fall also. Hourly range is intact - 45000 and 44000. Till the time it is inside the range it is going to be sideways. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 44600 then we will long for the target of 44840 and 45045. For selling we need a 15 Min candle close below 44420. T- 44194 and 43915. 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 Aug 2023BANKNIFTY Intraday Trade Setup For 29 Aug 2023 Bullish-Above 44615 Invalid-Below 44505 T- 44840 45045 Bearish-Below 44370 Invalid-Above 44480 T- 44100 43825 BANKNIFTY has closed on a bullish note with decent gain of 0.6% today. In the weekend we discussed that index is likely to maintain a sideways momentum till daily range (45000-43600) breaks, so one directional trade should be the target. It was complete sideways till buy triggered as per trade setup. 1st target was achieved smoothly above 43360. Bullish momentum likely to continue above today's high towards 44840 zone. Below 44370 it will be bearish in intraday. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle close above 44615 then we will long for the target of 44840 and 45045. For selling we need a 15 Min candle close below 43370. T- 44100 and 43825. 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 28 Aug 2023BANKNIFTY Intraday Trade Setup For 28 Aug 2023 Bullish-Above 44360 Invalid-Below 44250 T- 44631 44950 Bearish-Below 44130 Invalid-Above 44240 T- 43825 43518 BANKNIFTY has closed with slight cut in the last trading session. Last week after sustaining above 44100 in the hourly TF it gave a very fantastic move till 44900. Now if it sustains above 45000 in daily TF then it will be a swing buy or bullish biased. While Friday's low is important for a downside move. However key level in daily TF is 43600. Sustaining below this will initiate a move towards 42600 and 42000. Between this daily range market will stay in sideways momentum and less directional intraday trades will be the right approach. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 44360 then we will buy for the target of 44631 and 44950. Gap area will be important. For selling we need a 15 Min candle close below 44130. T- 43825 and 43518. 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 Aug 2023BANKNIFTY Intraday Trade Setup For 25 Aug 2023 Sell_1-From 44755 Invalid-Above 44865 T- 44500 44280 Sell_2- Below 44430 Invalid-Above 44540 T- 44175 43915 BANKNIFTY has closed on an absolutely flat note today after a big roller coaster ride. After the breakout of our bullish reversal key level- 44100 in hourly TF it gave a very good momentum 44949. Today it opened with a big gap up and 10 o'clock range broke downside below 44613 and 170 points gain with 120 points sl. Tomorrow if there is a gap down opening and 10 o'clock range breaks upside then we will buy. On a flat opening or gap up opening 44755 will be our short level. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes below 44430 then we will short for the target of 44174 and 43915. In case of a flat/gap up opening we will short from 44755. T- 44500 and 44174. 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 Aug 2023BANKNIFTY Intraday Trade Setup For 24 Aug 2023 Bullish-Above 44525 Invalid-Below 44415 T- 44777 45015 Bearish Below 44340 Invalid-Above 44450 T- 44150 43950 BANKNIFTY has closed on bold bullish note with more than 1% gain today. Since last two sessions index was in a tight range. Also it was updated multiple time that index is trading near key resistance level- 44100 which is also our TSL for the short position from 45620; if it sustains above 41100 there will be bullish reversal. It sustained in hourly TF and a clear cut move we enjoyed. Buy triggered as per trade setup above 44155 and hit almost both targets. Next resistance will be near 44800 zone. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 44525 then we will long for the target of 44777 and 45015. For selling we need a 15 Min candle close below 44340. T- 44150 and 43950. 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 23 Aug 2023BANKNIFTY Intraday Trade Setup For 23 Aug 2023 Bullish-Above 44155 Invalid-Below 44045 T- 44350 44550 Bearish-Below 43930 Invalid-Above 44040 T- 43717 43500 BANKNIFTY has closed on an absolute flat note today. It was total sideways in today's market. Since last day it is juts chilling at 42K. Index traded within 200 points range the whole day. Momentum was good for non directional traders. Tomorrow we will simply use today's market range to build our trade setup. Update about the short position from 45620 is that our TSL is still intact. No candle has sustained above 44100 in hourly TF. Now 44155 is the level as TSL. 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 44350 and 44550. For selling we need a 15 Min candle close below 43930. T- 44717 and 43500. 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