On Tuesday, during a highly volatile budget session trading day, BankNifty opened gap up inside the 15m supply zone mentioned in the last post and fell 1200 points, making a day low of 51342.65. It re-entered the Daily Demand zone but did not break the bottom of the zone, closing inside with a 502-point drop at 51178.30. The weekly trend (50 SMA) remains positive,...
Banknifty prior to the budget day closed flat and there are chances of a trending market owing to the news. On the hourly charts, the market has consolidation after the first hour candle. Consolidation is good to make the break out/ down to travel. Market is trading around the 20 ema and above 200 ema. If the market break below the moving average, trade using MA...
Banknifty on the weekly time frame is still forming an inside candle. If it crosses the previous weekl high of 52800, a bullish trade can be made. The hourly time frame, there is a inverted Head and Shoulder pattern and the high probability trade can be initiated as Nifty is trading around Life time high of 24800. There is chances of BN catching up with other...
On Monday, BankNifty remained within its range and did not break the 125m demand zone mentioned in the last post. The weekly and daily trends (50 SMA) remain positive. Support Levels: Near Support/Demand Zone (125m): 51,996 - 52,379 Far Support/Demand Zone (75m): 51,510 - 51,784 Major Support/Demand Zone (Daily): 51,138 - 51,934 Resistance Levels: Near Small...
BankNifty opened gap-up above the previously mentioned level of 52,735 and sustained above to make a new all-time high of 53,256.70. Both the weekly and daily trends (50 SMA) remain positive. Support Levels: Near Support/Demand Zone (125m): 51,996 - 52,379 Near Support/Demand Zone (75m): 51,510 - 51,784 Major Support/Demand Zone (Daily): 51,138 -...
BankNifty bounced from the 15m Demand Zone mentioned in the last post, rallying over 200 points from the day's low. However, selling pressure in most BankNifty constituents (except HDFCBANK) closed 406 points down at 52,168.10. Both the weekly and daily trends (50 SMA) remain positive. Support Levels: Near Support/Demand Zone (75m): 51,510 - 51,784 Major...
Hello Traders, Welcome to SriTrader5121 ______________________________________ Overall view for the day Buy - with the support of Important_level Sell - with the rejection of Important_level Major Support - Around 5200## and 5150# Major Resistance - Around 5300## See the price action at our zones, take the trade according to your Risk - Reward. ...
Hello Traders, Welcome to SriTrader5121 ______________________________________ Overall view for the day Buy - with the support of Important_level Sell - with the rejection of Important_level Major Support - Around 5200## Major Resistance - Around 5300## See the price action at our zones, take the trade according to your Risk - Reward. Happy...
Hello Traders, Welcome to SriTrader5121 ______________________________________ Overall view for the day Buy - with the support of Important_level Sell - with the rejection of Important_level Major Support - Around 5200## Major Resistance - Around 5300## See the price action at our zones, take the trade according to your Risk - Reward. Happy...
Banknifty on the weekly charts has given a good bullish candle and created a new life time high. It is holding the higher levels and on the monthly candle it has already given a 5% move. Nifty is taking a halt while banknifty is trading on the higher levels. The index has been trading around the same levels for the last 2 trading sessions. In case of a break...
📈 Bank Nifty Analysis: Short-Term Caution Amid Anticipation Last Analysis Review: From my previous Bank Nifty analysis on June 25, 2024, we observed that “Scenario 1” (Buy above Gap up opening with 30-minute closing above 52,000) played out accurately. Now, let’s delve into the current scenario. Analysis: June 26, 2024 Short-Term View: Caution is advised as...
BankNifty has still maintaining the range-bound structure, so structurally, today might continue in this manner. If we search for a range breakout, we can see a flag pattern (chart pattern) in BankNifty. This means yesterday's pullback has the flag pattern structure. But what is the probability here? I will explain it in detail. 1. The first thing is it's a...
Hello Traders, Welcome to SriTrader5121 ______________________________________ Overall view for the day Buy - with the support of Important_level Sell - with the rejection of Important_level Major Support - Around 511## Major Resistance - Around 519## See the price action at our zones, take the trade according to your Risk - Reward. Happy...
Hello Traders, Welcome to SriTrader5121 ______________________________________ Overall view for the day Buy - with the support of Important_level Sell - with the rejection of Important_level Major Support - Around 507## Major Resistance - Around 520## See the price action at our zones, take the trade according to your Risk - Reward. Happy...
Hello Traders, Welcome to SriTrader5121 ______________________________________ Overall view for the day Buy - with the support of Impotyent_level Sell - with the rejection of Impotyent_level Major Support - Around 502## Major Resistance - Around 505## See the price action at our zones, take the trade according to your Risk - Reward. Happy...
Hello Traders, Welcome to SriTrader5121 ______________________________________ Overall view for the day Buy - with the support of s1 Sell - with the rejection of s1 Major Support - Around 497## Major Resistance - Around 502## See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – ...
Hello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - with support of s/1 and s/2 Sell - with rejection of R/1 and R/2 Major Support - Around 493## Major Resistance - Around 505## See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading...
On 1 Day Timeframe, Banknifty Index trading important levels. Time to wait for either breakout or Breakdown (reversal) for the Banknifty Index. Breakdown Move - Confirmation for breakdown will be if Banknifty Index starts trading and sustain below 50311 level - Downside rally nearly 2000 points expected in case of breakdown - Intermediate support expected near...