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Bankniftyidea

BankNifty Intraday view for 17-11-2021Good evening all, Today: After a long wait and almost having given up, out 'short' entry arrived and gave around 130 points. Lack of time prevented it from us achieving our fist target. Which also means, we may expect a gap down to around 38115 tomorrow morning. Another good thing in today's move was the structure it built for us take a 'long' entry tomorrow if it moves that way. Tomorrow: The down move if has to sustain has to breach the 38110 mark. That however, is a strong support zone and then the psychological next step of 38000. So, sell only after 37950 for a potential target of 37710. On the 'long' side, above 38539 and then a steady climb. So; Long side view: Buy above 38539 Target 1 - 38750 TSL above this Target 2 zone 38930 - 39000 Target 3 - 39115 (Long SL - 38350) --------------- Short side view: Sell below 37950 Target 1 - 37710 TSL below this (Short SL - 38110) *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
BankNifty Intraday view for 16-11-2021 Good evening all, Yesterday: Stuck between the range we had marked and importantly did 3 things; 1) failed to break down on the multi day resistance line 2) stayed above 38500 and 3) respected the new dynamic support line. Providing us optimism for today Today: The 'long' story now some bit encouraging. Above 39200 though. And the short story stays as from yesterday. So; Long side view: Buy above 39200 Target 1 39325 TSL above this Target 2 zone 39450 - 39500 Target 3 zone 39560 - 39600 (Long SL - 39025) --------------- Short side view: Sell below 38340 Target 1 zone 38115 - 38000 TSL below this Target 2 - 37665 Target 3 - 37385 (Short SL - 38500) *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
2
BankNifty Intraday view for 15-11-2021Good evening all, Friday: I had asked for us to be patient and the index tested that. Nothin to rave about and NO entry. Tomorrow: The 'long' story again is very grim and nothing changes till 39500 is breached. With the multiday dynamic resistance line been broken out and a double bottom at ~ 38500, we may see an upward move. But nothing till 39560. On the 'short' side, we may sees some quick move if 38340 is broken down. So; Long side view: Buy above 39560 Target 1 zone 39750 - 40000 TSL above this Target 2 - 40160 (Long SL - 39315) --------------- Short side view: Sell below 38340 Target 1 zone 38115 - 38000 TSL below this Target 2 - 37665 Target 3 - 37385 (Short SL - 38500) *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
BankNifty Intraday view for 12-11-2021Good evening all, Today: It did move and which it did want to. 350 points from our short entry levels. But that's not it. If it sustains, it will move further down. Patience is the key tomorrow. Tomorrow: The 'long' story is very grim and nothing changes till 39500 is breached. I haven't marked levels (they stay as from yesterday) on the chart as I wanted to focus on the 'short' story. So; Long side view: Buy above 39560 Target 1 zone 39756 TSL above this Target 2 - 39860 Target 3 zone 39989 - 40000 ( not marked on the chart due to lack of space) Target 4 - 40115 (Long SL - 49360) --------------- Short side view: Sell below 38345 Target 1 zone 38210 -39103 TSL below this Target 2 zone 38000 - 37955 (Short SL - 38425) *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
BankNifty Intraday view for 11-11-2021Good evening all, Today: After a wildish drop of 300 points, the index formed a base at around 39000 setting us up nicely for an either side move. The imperative words here are 'set us up'. Be careful, very careful. Two days of sideways hang-fire will give in at tomorrow's expiry. Tomorrow: So, it is going to be tricky. Volatile moves on either side are most likely to satiate the the hunger of past 2 days. Trade with care and with speed. So; Long side view: Buy above 39560 Target 1 zone 39756 TSL above this Target 2 - 39860 Target 3 zone 39989 - 40000 ( not marked on the chart due to lack of space) Target 4 - 40115 (Long SL - 49360) --------------- Short side view: Sell below 38785 Target 1 zone 38615 - 38585 TSL below this Target 2 zone 38415 (Short SL - 38950) *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
BankNifty Intraday view for 10-11-2021Good evening all, Today: Like I said last evening.... It will bore us and it did. Respecting the resistance line for a very long time, only to peak out on the last candle in the 30M time frame. Tomorrow: With RSI still at around 50, and range not broken on either side, the chart is CTRL+C, CTRL+V from yesterday. A minor adjustment to the short target 1 though. So; Long side view: Buy above 40160 Target 1 zone 40350 - 40415 TSL above this Target 2 - 40585 Target 3 zone 40830 - 40880 ( not marked on the chart due to lack of space) (Long SL - 40000) --------------- Short side view: Sell below 38785 Target 1 zone 38625 - 38585 TSL below this Target 2 zone 38500 - 38430 (Short SL - 38950) *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
BankNifty Intraday view for 09-11-2021Good evening all, Today: We saw the 39300 level breached and made us achieve 2 targets. This probably is a well received pull back if the market has to go up. Tomorrow: With RSI at 50, the market can go either ways. On the way up, I still hold my view above 40160 and below 38785 for a good move. With a daily ATR of 700 points, this range 1300 points may just bore us tomorrow. But keep an eye. Why? the multi day support line has still not broken and around 1200 points below at this stage. We may see the south bound continuation. So; Long side view: Buy above 40160 Target 1 zone 40350 - 40415 TSL above this Target 2 - 40585 Target 3 zone 40830 - 40880 ( not marked on the chart due to lack of space) (Long SL - 40000) --------------- Short side view: Sell below 38785 Target 1 zone 38615 - 38585 TSL below this Target 2 zone 38500 - 38430 (Short SL - 38950) *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
BankNifty Intraday view for 08-11-2021Good evening all, Last Week: Hope you had a safe Diwali. Like the range index was in. Nothin more about that. Only that, it has set up very well to move either ways. Tomorrow: We have a range of 850 points that we need wait to be broken. Above 40160 and below 39300 we should have a good move. More optimistically above 40160 which also coincides with the daily chart plot. So; Long side view: Buy above 40160 Target 1 zone 40350 - 40415 TSL above this Target 2 - 40600 Target 3 zone 40830 - 40880 (Long SL - 40000) --------------- Short side view: Sell below 39300 Target 1 - 39135 TSL below this Target 2 - 39000 Target 3 - 38850 (Short SL - 39500) *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
BankNifty view for the week of 8th - 12th NovemberGood evening all, Last week: Short Week, and a very narrow range. Just 200 points. Everyone wanted a safe index and a safer Diwali. This week: So from here, we look at two important levels on the dynamic trend lines. Above 40160 and below 38400. On both sides the target room is around 700-800 points with almost equal RR. *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
BankNifty Intraday view for 03-11-2021Good evening all, Today: While the market did not open up with a gap, our 1st long target was achieved very quickly (well just 11 points shy) only to pull back and then achieve it again. After that, as predicted, a range of around 300 points. Why? well Tuesday behaved like Wednesday because tomorrow is expiry and the previous day is mostly premium eating day for the sellers. Tomorrow: So what doe we do? We wait. On the 'Long' side, for 40140 to be breached and on the 'short' side, below 39525. Between this range we will just waste our time. So; Long side view: Buy above 40140 Target 1 zone 40350 - 40415 TSL above this Target 2 - 40600 Target 3 - 40880 (Long SL - 40000) --------------- Short side view: Sell below 39525 Target 1 - 39300 TSL below this Target 2 - 393185 (Short SL - 39775) *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
2
BankNifty Intraday view for 02-11-2021Good evening all, Today: Like I mentioned, range bound market in the first session and then surged up to show optimism in the second. Normally, I wouldn't advise on carrying a position but breach on 39775 looked promising. Tomorrow: We just may see a gap up opening at around 40K and then either a range or reverse. If it has to sustain the climb, then 40136 needs to be broken. On the south side, I carry my view from yesterday, sell only below 38750. So; Long side view: Buy above 39775 Target 1 zone 40000 - 40136 TSL above this Target 2 - 40350 Target 3 - 40585 (Long SL - 39550) --------------- Short side view: Sell below 38750 Short Target 1 zone 38575 - 38425 TSL below this (Short SL - 39000) *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
BankNifty Intraday view for 01-11-2021Good evening all, Friday: Since I wasn't available for the past three days, I will stay away from providing any analysis on something that I had no view on. Tomorrow: While my weekly view is inclined on a short, we will look at rise and dips through Monday and Tuesday and trade accordingly. The dynamic resistance line from 27th November was breached on Friday and is entry-able only after 39775. Also, keep an eye for the 38750 level which has provided a support twice already. Below that and we see a dip. So, in all a 1000 point range which also may be possible. So; Long side view: Buy above 39775 Target 1 40000 TSL above this Target 2 - 40375 Target 3 - 40820 (Long SL - 39550) --------------- Short side view: Sell below 38750 Short Target 1 zone 38500 - 38375 TSL below this Short Target 2 zone 38210 - 38150 (Short SL - 39000) *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
BankNifty view for the week of 1st - 5th NovemberGood evening all, Last week: We saw a huge down turn from the supply zone at the top to retrace up to our marked level of 38450 and then settle at 39115. In doing so, it also breached the multi day support trend line showing sign of weakness. Now we need to convert this into our strength. This week: So from here, we wait for support zone at 37700 to broken if we are to see a further low. The targets from there, 37000 - 36875 and then 36320. We do this with a SL of 38375. On the long side, the entry is only beyond 41850 up to 42200. Not very promising scenario though. Even the SL there does not offer a good RR. *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
BankNifty view for the week of 25th - 29th OctoberGood evening all, Mount 40000 achieved last week and reached almost 40600 to settle at 40300. What next? Between here and 40750 is a strong resistance zone and we wait for that to be breached if we are to see 42200. With a 14 day ATR of ~570 points, Monday again becomes important for us. Also, the current level forms of 1000 points range between 40300 and 39300 where it took support. If it breaks that level, we may see a drop of 800 points to 38450. So, be aware and trade accordingly, wait for the long and short both. *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
BankNifty Intraday view for 26-10-2021Good evening all, Today: A huge gap up opening almost nullified out entry. However the pull back provided us with an entry at an elevated level moving our SL too. And then, a comfortable 800 points. This, thanks to the support trend line respected and a huge room on top on the hourly chart. Tomorrow: I have moved from my regular 15m / 30M time frame to the 1H for analysis and have marked out levels. From where the market currently is, it could move up to 41330, 41430 or around 41525, if it needs to reverse back. if it crosses 41700, we see a move up. And, that's where we enter. So; Long side view: Buy above 41700 Target 1 zone 41820 TSL above this Target 2 - 42000 Target 3 - 42200 (Long SL - 41580) --------------- Short side view: Sell below 41000 HUGE Target zone 40675 - 40500 TSL below this (Short SL - 41300) *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
BankNifty Intraday view for 25-10-2021Good evening all, Friday: We saw our long target being achieved and then some more. But we also saw a good movement on the other side to about 38.2% and then settle at 23.6%. Both these being Fib Retracement levels. Tomorrow: So from here, either it goes up to point 0 or back down to 38.2%.... Both these being our entry levels. That's it. So; Long side view: Buy above 40600 Target 1 zone 40700 - 4750 TSL above this (Long SL - 40500) --------------- Short side view: Sell below 40150 Short Target 1 - 40000 TSL below this Target 2 zone 39915 - 39875 Short Target 3 - 39775 (Short SL - 40300) *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
2
BankNifty Intraday view for 22-10-2021Good evening all, Today: Christmas came early this year and late in the day. 400 points from our entry and hit all our daily and weekly targets. Tomorrow: This also means that the index is at a strong reversal point. If it has to move up, 40300 needs to be breached for it to go to 40450. South side, we will wait for the 40000 to be broken down till up to 39900 and then take an entry. So; Long side view: Buy above 40310 Target 1 zone 40450 TSL above this (Long SL - 40200) --------------- Short side view: Sell below 39900 Short Target 1 zone 39775 - 39700 TSL below this Target 2 - 39520 (Short SL - 40000) *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
1
BankNifty view for the week of 18th - 22nd OctoberGood morning All, Starting today, I will also be posting my near term view on BNF. Every Sunday, along with Intraday view for Monday. And here it goes... Mount 40,000? Well, the daily chart sure does suggest that basis following considerations: 1) One key reversal point at 39000 being comfortably breached on Thursday 2) Index was in a channel forming higher highs and has broken out from there too 3) Next key reversal point is 40,000 - 40,200 So keep an eye for what happens on Monday and we'll know what direction we will be trading the entire week. *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
BankNifty Intraday view for 21-10-2021Good evening all, Today: Like we predicted, the index was range bound and option sellers making merry. Nothing more to that. Tomorrow: This however also means that the range for it move shrunk in and is only 500 points. On either side we take an entry and book profit quickly due to the phycological barriers 40000 and 39000. So; Long side view: Buy above 39780 Target 1 zone 39880 - 39910 TSL above this Target 2 - 40000 (Long SL - 39680) --------------- Short side view: Sell below 39290 Short Target 1 zone 39050 - 39000 TSL below this Target 2 - 38930 Target 3 zone 38790 (Short SL - 39400) *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
BankNifty Intraday view for 20-10-2021Good evening all, Today: Was a roller coaster in true characteristic of BNF. 600 points down and then 500 points up. Something we were used to last year and sadly missing this year. Unless you are very correct, accurate and careful, these swings can dig you your grave. Hence, trade what you see and not what you feel. Tomorrow: Mount 40000 needs to breached for long up to 40200 and then beyond. However the chart currently indicates the other 2 possibilities. 1) Range between 39400 and 40000 2) Steep slide if 39400 broken down and sustained. So; Long side view: LET US WAIT AND SEE --------------- Short side view: Sell below 39390 (if gap down, then wait for pull back) Short Target 39000 TSL below this Target 2 - 38900 Target 3 zone 38800 - 38750 (Short SL - 39570) *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
BankNifty Intraday view for 19-10-2021Good evening all, My view stays. For tomorrow however, let us turn the tables. You tell me what I need to do. Look at the chart and post your thoughts. Trend lines have been drawn for you. Suggest levels. HINT: Maintain the R&R ratio of 1:1 on the SL side. So; Long side view: ????? --------------- Short side view: ????? *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
1
BankNifty Intraday view for 18-10-2021Good evening all, In my forthcoming week's view, I have indicated the index to reach 40,000 - 40,200. And it could do that if it needs to sustain the 39000 levels. Hence the Monday session is very important. It will define the week for us. Largely again, 39300 - 39000 looks like a range. So; Long side view: LET US WAIT AND SEE --------------- Short side view: Sell below 38775 Short Target 1 zone 38615 - 38570 TSL below this Target 2 - 38490 Target 3 - 38375 (Short SL - 38900) *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
2
BankNifty Intraday view for 14-10-2021Good evening all, Today: While I mentioned yesterday that it might just... It did.... Almost 37779 testing the another reversal point. From here the long road is ONLY above 38800 and up to 39000. Again, if it does. Tomorrow: The index after reversing from a strong supply zone, is looking down and potentially may get stuck in 400 point range. If it breaks further down, we will see a good fall. So; Long side view: Long Entry above 38800 Long Target 1 - 39000 TSL above this (Long SL - 38600) --------------- Short side view: Sell below 38100 Short Target 1 zone 38000 - 37920 TSL below this Target 2 - 37785 Target 3 - 37670 (Short SL - 38265) *** This is a view and not necessarily a trade recommendation *** However, If you like my idea..., hit like, follow me, and do spread the word.
NSE:BANKNIFTY
by ChartMantra
3