FASP levels for Bank Nifty 24/04/2023The FASP for BankNifty is listed for 24-04-2023. 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 under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds.
Validity of the levels: 1 Day
How to use these levels?
The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options.
Color Coding: Green is regular support and buying area, Red is strong exit area
Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
Bankniftyintraday
PostMortem on BankNifty Today & Analysis of 21 APR 2023Just a bit of negative bias today - nothing major to be worried about! Banknifty still has outperformed NSE:NIFTY this week. And trust me the chart of NSE:BANKNIFTY is looking strong.
Today we opened inline at 42252 had 2 strong green candles and then started falling. From 09.30 to 13.05 we fell 0.99% ~ 419pts - but the options premium did not surge exponentially. Since the India VIX is ~ 11.6 levels the fear in the markets are already at the lowest point.
Looking at the downfall momentum gaining traction at 12.05 just after yesterday's swing low was taken out, I felt we may fall below the 41600 level today. Unfortunately that did not happen & my wednesday's opinion now stands corrected.
Even after the fall today, bank nifty's chart is still showing bullishness, how the global trade happens today might have a role to play on Monday.
---
15mts is now in a sideways range from 17th. 41968 to 42500 has been the swing this week if not for a blip highlighted in blue.
---
This week's price action makes a flag & pole type of pattern (even though not perfect) on the 1hr TF. The chart is not showing any signs of slowing down. We hoped the 41624 support levels will get tested this week - but that scare is now out.
What will the bears do now?
BANK NIFTY INTRADAY LEVELS expiry specialNSE:BANKNIFTY important zones for banknifty to trade tomorrow, can go above 42500 if opens flat or gapup, trade at zones only according to movement of the market, stay away from these zones/levels if you dont know how to trade support/resistance zones.
above 42366 bank nifty will try to reach 42500/ 42600/42700 levels marked,
can short below 42000 only with reference to support resistance zones.
Banknifty-12/04/2023-LevelsHello Traders, Welcome to SriTrader5121
____________________________________
BankNifty-12/04/2023-Levels
IMPORTENT ZONE FOR THE DAY : 41230 - 41244
Possibilities of Today market open...
Possibility 1: FLAT
If market open as a GAP-UP and moves to UP-Side then BUY with the Support of PDH and SELL with the Rejection of PDH.
(or)
If market open as a GAP-UP and moves to DOWN-Side then BUY with the Support of S and SELL with the Rejection of S.
Possibility : GAP-UP
If market open as a FLAT and moves to UP - SIDE then BUY with the Support of Red-Zone and SELL with the Rejection of Red-Zone.
(or)
If market open as a FLAT and moves to DOWN-Side then BUY with the Support of PDH and SELL with the Rejection of PDH.
Possibility 3: GAP-DOWN
If market open as a GAP - DOWN and moves to UP-Side then BUY with the Support of S and SELL with the Rejection of S.
(or)
If market open as a GAP-DOWN and moves to DOWN-Side then BUY with the Support of IMP and SELL with the Rejection of IMP.
_______________________
Happy Learning and Trading
Rules to fallow...
1) Trade with Strict Stop Loss.
2) Trade with Small Quantity.
3) Take entries based on Support & Resistance Levels.
Please take the trade according to the levels marked, with Risk-Reward.
This is not a Buy or Sell recommendation to anyone.
Take entries after your own analysis.
This is for education purpose and a helping hand to learn trading in market.
NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level.
I hope you all like my analysis. Follow me to get regular updates.
Please do share your thoughts in comment section.
Please Hit a LIKE , it motivates me to do analysis and do share with your trading friends.
SHORT FORM &FULL FORM
-------------------------------
0.5-> 0.5% Swing
PDH-> Previous Day High
PDL-> Previous Day Low
PDC-> Previous Day Close
PDO-> Previous Day Open
PWH-> Previous Week High
PWO-> Previous Week Open
PWC-> Previous Week Close
PWL-> Previous Week Low
D_S-> Day Support
D_R-> Day Resistance
W_S-> Week Support
W_R-> Week Resistance
W_O-> Week Open
W_C-> Week Close
LW_O-> Last Week Open
LW_C-> Last Week Close
IMP -> Important
R@1, R@2,R@3... ->Resistance-Zones
S@1, S@2,S@3... ->Support-Zones
MS -> Major Support
SH -> Swing-High
SL -> Swing-Low
DT -> Double Top
DB -> Double Bottom
TT -> Triple Top
TB -> Triple Bottom
TF -> Time Frame
BO -> Break-Out
RR -> Risk-Reward
SL -> Stop-Loss
GAP -> The area b/w Previous Day Close and Today Open
Blue Color Text(S@*,R@*)-> Act as Major Support or Resistance-Zones(Be Alert, Chances to Market take Reversals )
Banknifty daily analysis for 12/04/23.Banknifty has given a nice up move even after the gap up opening and has closed above the trendline. The market has given a break out and the index has closed 500+ points forming a dragon fly doji.
The market has consolidated and moved nicely in the second half of the trading session.
On the hourly time frame, the first candle showed some positivity and after it the market has slow and steady move to higher levels.
The market has created a gap and in the coming days there is a possibility of filling the gap.
Support :- 41235, 41000
Resistance :- 41400, 41630, 41950
The market after the gap up opening has given break out of the consolidation zone.
Wait for the price action near the levels before entering the market.
#Banknifty"Trading day, April 11th: The global market indicates a neutral to slightly positive start, with the market nature being moderately bullish. If the initial market breaks yesterday's high, we can expect a rally continuation. On the other hand, if the initial market declines sharply, structurally, we can expect a long correction."
BankNifty-11/04/2023-LevelsHello Traders, Welcome to SriTrader5121
____________________________________
BankNifty-11/04/2023-Levels
IMPORTENT ZONE FOR THE DAY : 40869 - 40885
Possibilities of Today market open...
Possibility 1: FLAT
If market open as a FLAT and moves to UP - SIDE then BUY with the Support of IMP and SELL with the Rejection of IMP.
(or)
If market open as a FLAT and moves to DOWN-Side then BUY with the Support of PDL and SELL with the Rejection of PDL.
Possibility : GAP-UP
If market open as a GAP-UP and moves to UP-Side then BUY with the Support of R and SELL with the Rejection of R.
(or)
If market open as a GAP-UP and moves to DOWN-Side then BUY with the Support of IMP and SELL with the Rejection of IMP.
Possibility 3: GAP-DOWN
If market open as a GAP - DOWN and moves to UP-Side then BUY with the Support of PDL and SELL with the Rejection of PDL.
(or)
If market open as a GAP-DOWN and moves to DOWN-Side then BUY with the Support of D-S and SELL with the Rejection of PDL.
_______________________
Happy Learning and Trading
Rules to fallow...
1) Trade with Strict Stop Loss.
2) Trade with Small Quantity.
3) Take entries based on Support & Resistance Levels.
Please take the trade according to the levels marked, with Risk-Reward.
This is not a Buy or Sell recommendation to anyone.
Take entries after your own analysis.
This is for education purpose and a helping hand to learn trading in market.
NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level.
I hope you all like my analysis. Follow me to get regular updates.
Please do share your thoughts in comment section.
Please Hit a LIKE , it motivates me to do analysis and do share with your trading friends.
SHORT FORM &FULL FORM
-------------------------------
0.5-> 0.5% Swing
PDH-> Previous Day High
PDL-> Previous Day Low
PDC-> Previous Day Close
PDO-> Previous Day Open
PWH-> Previous Week High
PWO-> Previous Week Open
PWC-> Previous Week Close
PWL-> Previous Week Low
D_S-> Day Support
D_R-> Day Resistance
W_S-> Week Support
W_R-> Week Resistance
W_O-> Week Open
W_C-> Week Close
LW_O-> Last Week Open
LW_C-> Last Week Close
IMP -> Important
R@1, R@2,R@3... ->Resistance-Zones
S@1, S@2,S@3... ->Support-Zones
MS -> Major Support
SH -> Swing-High
SL -> Swing-Low
DT -> Double Top
DB -> Double Bottom
TT -> Triple Top
TB -> Triple Bottom
TF -> Time Frame
BO -> Break-Out
RR -> Risk-Reward
SL -> Stop-Loss
GAP -> The area b/w Previous Day Close and Today Open
Blue Color Text(S@*,R@*)-> Act as Major Support or Resistance-Zones(Be Alert, Chances to Market take Reversals )
#Banknifty"Trading day, April 3rd: The global market indicates a positive start with a bullish market nature. It may start with a neutral to slightly gap-up. Structurally, we can see the sub-wave 5 with divergence, so if the opening market doesn't sustain, we can expect a minor correction that will reach a minimum of 23 to 38% fib correction. On the other hand, if the initial market sustains the gap-up, we can expect the rally continuation."
Banknifty weekly analysis for 03/04/23.Banknifty has formed a base and give another doji on the monthly charts. A nice morning star pattern in formed on the weekly charts, which shows some positivity.
Though, the market on the weekly time frame is trading below the 20 ema.
The market has closed near a crucila levels and if it cross nice bullish momentum can be there in the market.
The daily chart's moving averages are close enough and a bullish moving averages crossover will be there.
A "W" pattern has been formed on the daily charts. Bullish trades can be initiated, if after a flat opening the market crosses the 40610 levels.
On the hourly charts, the market has been cleanly in the bullish momentum and all the candles of the trading session closed in the green and traded in a parallel channel.
Global market are also trading in green and the Indian marekt can show another gap up in the next trading session.
Support :- 40365, 40200
Resistance :- 40625, 40840, 41160
Wait for the price action near the levels before entering the markets.
Bank nifty Intraday levels for 31.03.2023Resistance level:39952
Support level : 39676
****Fib Retracement levels will act as the support or resistance****
If candles are sustaining or break above resistance level , we can expect upside move and the targets will be fib retracement levels as per chart.
If candles are sustaining between resistance and support levels, consider as neutral.
If candles are sustaining or break below support level , we can expect downside move and the targets will be fib retracement levels as per chart.
If gap up or gap down opening, fib retracement levels will act as the support or resistance.
*** For quick scalping use 5-minute time frame*****
Note: Pls check my previous day ideas for back testing & better understanding
Please let me know in comment section if you have any queries and like the idea If you agree with the analysis.
Disclaimer:
Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research
[INTRADAY] #BANKNIFTY PE & CE Levels(31/03/2023)Today will be gap up opening in BANKNIFTY . After opening if banknifty sustain above 40050 level then possible upside rally of 400-500 points upto 40450 Level. And this rally can extend for another 400 points if it gives breakout of 40550 level. Any Major downside only expected in case banknifty starts trading below 39950 level.
Banknifty"As of March 28, the trading day is indicating a positive start, but the market nature is moderately bearish. It may begin with a gap-up. After that, if the market sustains it, we can expect a range market. On the other hand, if the market declines initially, we can expect the continuation of the correction."
[INTRADAY] #BANKNIFTY PE & CE Levels(28/03/2023)Today will be gap up opening in BANKNIFTY . After opening if banknifty sustain above 39550 level then possible upside rally of 400-500 points upto 39950 Level. And this rally can extend for another 400 points if it gives breakout of 40050 level. Any Major downside only expected in case banknifty starts trading below 39450 level.
#BANKNIFTY - POSITIONAL VIEWBased on recent market analysis, it has been determined that BANKNIFTY is expected to display a bearish momentum in the upcoming days. In light of this forecast, short-term traders are advised to consider either shorting or purchasing put options for the next month expiry.
It is recommended to identify the key sell range between 39830-39980, with a targeted goal of achieving 39650, 39400, and 38950. However, it is imperative to note that the suggested strategy should be implemented with a stop-loss in place at 40600 to minimize potential losses.
This approach will enable traders to make informed decisions while navigating the market's dynamic conditions and pursue their investment objectives with greater confidence.
#Banknifty"Trading day, March 22: The global market indicates a neutral start with a bullish nature that may begin with a neutral to slightly gap-up. after that, If the market breaks 50%, we can expect a rally to continue. On the other hand, if the market rejects around 50%, we can expect a minimum of 38% Fib correction. If the correction breaks the 38% Fib level, that's a sign of trend reversal, and it may reach a 78% to swing low."
22nd March || Bank Nifty Analysis - Intraday Levels Marked OutAnalysis Criteria Used:
1. Please find the Bank Nifty Chart Analysis done for the 22nd March, 2023
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3. Always Plan your Trade and stick to your Plan
4. Dont overthink or overanalyse
5. Treat this as your Business and get serious about it
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