BNF is trading near the 1hour timeframe support of 47000. As mentioned in my previous analysis, once the ascending channel pattern was broken in 1 day time frame BNF took the support of 47000 zone and reversed. Still BNF is trading between zones of 47000 & 47400.
It is to be noted that BNF has fall 2000 points from its ATH in this week.
If BNF moves upward...
The market has reacted to the war situation and has given a fall of around 800 points.
Banknifty has taken support from the 20 ema on the daily charts and the support zone around 47740 level.
Even on the hourly charts, the market is trading between both the moving averages and chances of taking support around 200 ema is there.
Tomorrow is weekly expiry and...
"Good morning, friends! Here are the directions for April 15th:
The global market trend is bearish, supported by the Dow Jones, while our local market sentiment indicates a moderately bullish trend. It might open with a gap-down start, as suggested by GiftNifty, showing a -120 point decrease.
I'm really sorry, I can't say exactly how the market will react today...
BankNifty Analysis - Stance Bullish ⬆️
BankNifty does an inverted V pattern today due to which the Algos went negative. Was quite happy that the losses were contained in the end, but what I learned is that sharp rises & falls take out the stop losses at both ends. And what is the end result? We are treading nowhere.
On the higher timeframe, BN looks more bullish...
BNF tried to move past 46753, it failed and made a double top before testing 46546.
This is a level that had previously pushed price to around 47000, however, with recent movement, it had been respecting a parallel channel formed in 15MTF. If level 46699 is not broken, we can expect a movement down, this will also fill the gap before moving to 46360.
Note:...
Banknifty has a solid bullish structure, so if the gap-up sustains, we can expect a minimum of 48796. It's a major resistance, so if the market reaches this level solidly, then the market may break this level with minor rejection. On the other hand, if it reaches this level with a minor pullback, then the market may retrace a minimum of 23 to 38%.
Alternatively,...
Banknifty has given a hammer candle around the higher levels after a gap up opening above 48k levels.
The index came for profit booking after a good gap up and closed round 48k levels.
Now the market is around the last resistance zone of 48300 and then there is the ATH.
After a 3 day consolidation there was a gap up and it took the opportunity of making money...
Bank Nifty forming symmetrical traingle pattern in daily time frame,
So be carefull in next trading session. It can go upside either downside. Here are some levels for your knowledge.
I am not SEBI registered analist,
This is only for educational purposes
BankNifty Analysis - Stance Neutral ➡️
BankNifty made its run today, but nothing as dramatic as Nifty50. We went up 590pts ~ 1.26% and then gave up 443pts ~ 0.93% in the last 45mts. The stance on BN is still neutral. If we had broken the 47465 resistance today and closed above, we would have changed the status to bullish. At one point, breaking 47465 was looking...
Banknifty has a similar sentiment. The 4th subwave has consolidated for a long time. So, if the market opens neutrally, then the 4th may continue further. After that, if it breaks the previous high, then we can expect the 5th wave, which may reach a minimum of the supply zone. If the 5th wave rejects there, then we can expect a correctional wave. On the other...
For last few trading sessions, market is volatile and is taking the stop losses.
Today also the market remained in a range and closed below the daily 20 ema. There is a rejection from the levels and an inverted hammer is formed on the daily charts.
If there is a gap up to flat opening and market starts trading below today's low, it can test the lower support...
Banknifty closing near where it opened. There is no difference compared to the Nifty structure. If the market finds support around the 38 or 50% Fibonacci level, then we can expect a range-bound market to rally continuation. On the other hand, if it breaks the 50% Fibonacci level, it may turn into a correction phase. We can expect that correction to reach a...
A big red candle on the weekly charts after 4 consecutive green candle is either profit booking or a double top formation confirmation.
Banknifty has come for selling but the downside movement is slow which shows there are still buying happening in the market. There is doji formation on the daily charts and a significant selling is not there in the index as...
BankNifty Analysis - Stance Neutral ➡️
Once again BN proved to be resilient to the bearish attack. We briefly broke the bearish channel top line, hit a new intraday low of 45828, and then reversed from there. The reversal was a whopping 828pts ~ 1.81% on what we could call a bear market killer. Whatever green candles we had in that recovery were strong and had...
Hello Traders, Welcome to SriTrader5121
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Overall view for the day.
Buy - Above Side-ways-zone
Sell - Below Side-ways-zone
See the price action at our zones, take the trade according to your Risk - Reward.
Happy Learning and Trading – SriTrader5121
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Rules to fallow...
1) Wait for...
"Banknifty consolidated in the last session. Structurally, if the market opens with a gap-up, then the consolidation will continue further. We could wait for the rally only if it breaks the Fibonacci level 38%.
Alternatively, if the gap-up doesn't sustain and breaks yesterday's low, then we can expect minor correction initially. Correction continuation will...
BankNifty Analysis - Stance Neutral ➡️
BankNifty fell 195 points today ~ -0.42%, but that would end up not being sufficient to push it into Bear territory. We might need roughly 400+ points fall to slip into the bearish channel following which both N50 and BN will have the same direction. Over the last 2.5 months rarely did both the indices align in the same...
The banknifty is travelling in a downward channel. also the possible support and resistances are marked in the chart. if it breaks the channel in upside direction, may be a bullish movement is possible. if it breaks the support of 46500 level, a bearish movement may happen.
Disclaimer: All information provided here is for educational purposes and not a...
