BankNifty has formed bearish price action, be cautious on buying particularly for tomorrow.
Expectations: Volatile Day
Intraday Levels:
Buy Above - 45230
Sell Below - 44870
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Happy Trading!
InvestPro India Team
"Good morning! As of July 10th, the global market is showing a negative start with moderately bearish market sentiment. It might open with a gap-down. If it breaks the immediate support zone after the opening, we can expect the correction to continue. On the other hand, if the initial market experiences a sharp pullback, we can expect a minimum of 38% to 61% Fib...
in my view, Bnaknifty looks suitable for short poison.
If it makes any Price action for the long side I will trade with a small lot size, I am looking for short-side poison but still, wait for any price action
BankNifty Important intraday levels to watch for 07-07-2023
#Support: 45250.
Short if candle closes below 45250
#resistance: 45420.
Long if candle closes above 45420
#Targets on downside after break of support.
Target 1= 45000
Target 2= 44720
#Targets on upside after break of resistance.
Target 1= 45648
Target 2= 45750
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The FASP for BankNifty is listed for 07-07-2023. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities.
What is Fibolysis Anchor SupRes Points(FASP)?
It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels...
"Good morning! As of July 6th, the global market is showing slightly negative stats with a moderately bearish market sentiment. It might open with a minor gap-down. After that, if it takes support around the immediate support zone, we can expect a range-bound market. On the other hand, if it breaks the immediate support, then the correction will continue."
Expectations: Volatile Day
Intraday Levels:
Buy Above - 45290
Sell Below - 45080
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Banknifty has been forming doji after doji.
Market opened 160 points lower and during the first trading hour travelled both side and forming doji.
On the hourly charts, market took support from the 20 EMA and closed above the levels. The market traded inside the first hour candle and consolidated whole day.
The markets is holding the higher levels and is in a...
"Good morning! As of July 5th, the global market is showing a neutral start with a bullish market sentiment. It might open with a minor gap-up. After that, if the market breaks yesterday's high, we can expect a continuation of the rally. Otherwise, it could enter a range market or takes a correction."
BN chart is interesting today, again just like N50 we had a falling 45mts open wherein BN lost 0.8% to go below prev. close.
From there it reversed and then rallied 1.46% ~ 655pts to hit a new ATH of 45655 by 13.30 mainly due to the rally in SBIN, KOTAKBANK. PNB +5.94%, FEDERALBANK +3.49% even though their weightage on the index is not that heavy.
Again the PUT...
"Good morning! As of July 4th, the global market is showing a neutral start with a bullish market sentiment. It might follow the previous rally. If it experiences a pullback similar to that, we can expect the rally to continue with a minor correction. On the other hand, if the initial market experiences a sharp decline, we can anticipate a 23% to 38% Fib correction."
BN had a different style of price action today comparing with N50. The open was gap-up & the rush to hit the HOD at 09.55 was similar. But what followed from there had minor changes.
1. The fall of 0.69% ~ 312pts from the top did have an impact on the momentum
2. Unlike N50, BN did not persist at the HOD levels after the first retracement. N50 had 3 more attempts...
Banknifty is taking rejection from long time trend line resistance. If banknifty opens gapup and and sustains above this level we can see good move towards 45000 level. But there is a catch there is a strong rejection on trendline at 44971 from monthly timeframe.
Buy above 44811 target 44970, 45123
sell below 44666 target 44613, 44544,4444
"Good morning! As of June 30th, there is no significant difference compared to the last session. the global market is showing a positive start with bullish market sentiment. It might open with a gap-up. After that, if it rejects the immediate resistance zone, we can expect a minor correction for rally continuation. Alternatively, if the correction breaks the Fib...
"Good morning! As of June 28th, the global market is showing a positive start with bullish market sentiment. It might open with a gap-up. After that, if it rejects the immediate resistance zone, we can expect a minor correction for rally continuation. Alternatively, if the correction breaks the Fib level of 38%, it might turn the range market into a correction."
Today will be gap up opening in BANKNIFTY . After opening if banknifty sustain above 44050 level then possible upside rally of 400-500 points upto 44450 Level. And this rally can extend for another 400 points if it gives breakout of 44550 level. Any Major downside only expected in case banknifty starts trading below 43950 level.
"Good morning! As of June 27th, The global market is showing a neutral to a slightly positive start with a moderately bearish market sentiment. There is a possibility of a slight gap-up opening. If the market experiences a pullback afterward, we can expect a minor pullback to reach the immediate resistance zone. If the market turns around there, we can anticipate...
"Good morning! As of June 26th, the same sentiment continues; there is no significant difference compared to the last session. The global market is showing a neutral to slightly positive start with a moderately bearish market sentiment. There is a possibility of a slight gap-up opening. If the market experiences a pullback afterward, we can expect a minor...
![BANKNIFTY: [INTRADAY] #BANKNIFTY PE & CE Levels(28/06/2023)](https://s3.tradingview.com/7/7RlRY2Sj_mid.png "[INTRADAY] #BANKNIFTY PE & CE Levels(28/06/2023)")
