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...
Hello Traders, Welcome to SriTrader5121
_______________________________________
Overall view for the day.
Buy - with support of Important / Support
Sell - with rejection of Important / Side-ways-zone
See the price action at our zones, take the trade according to your Risk - Reward.
Happy Learning and Trading – SriTrader5121 ...
After 3 days holiday markets will open tomorrow.
Banknifty has been halting around the higher levels and constantly facing rejection around 48k levels.
On the weekly charts, there is a bullish move in the market and seems to continue as nifty is around the highs but banknifty is still lagging behind it.
An inside candle has been formed on the daily charts and...
It looks like the bank nifty is forming a head and shoulders patern. if it breaks the support level (47200 to 47300 range) downside, it may go to the next possible support (46300 to 46500 range) marked in the chart.
if it crosses the level 48200 upside, we may go for a bullish trade after forming a price action.
Disclaimer: All information provided here is for...
With nifty creating new highs every week, banking stocks might see good upmoves in the coming few weeks.
In this video , I discuss few banking stocks setups which look to resume their uptrend .
Cheers!
Banknifty has the same sentiment; there is a completed motive structure. So, if the initial market declines sharply, then we can expect a minimum of 23% to 38% Fibonacci correction. If it breaks the 38% Fibonacci level, that's a sign of a trend reversal (bearish trend). On the other hand, if it finds support there (23%), it might consolidate a little...
It has given a nice up move in a single candle and closed forming a flag and pole pattern.
The market movement is consolidation, a move and consolidation again.
Tomorrow being the weekly expiry banknifty may give a trending move.
Major resistance levels :- 47700, 47830, 48000
If there is a gap up opening, there are chance of market moving even higher and...
The Banknifty structure is a little different; as per the wave structure, there is a pullback wave bending (minor sub-wave 5th). So, if the market breaks yesterday's high, then we can expect a range between 47821 to 47957. Since this is the 5th wave, once it rejects there, we can anticipate a correctional wave that may take a 23 to 38% Fibonacci correction to the...
Banknifty is following a 5th ending diagonal pattern. So if the market breaks yesterday's high, it will reach the fib level 78% with minor consolidation. After that, if it rejects there, we can expect a minimum of a 23 to 38% correctional wave. However, if it sustains there (consolidates), then it might turn into an extension variation. On the other hand, if the...
Last week the markets were volatile.
A M pattern formation and immediate reversal forming a V pattern shows the volatility.
The market need to retest of halt on the upper levels before crossing the ATH.
On friday, there was a 2.5% bullish move in banknifty it seem to be bullish as on intraday levels.
Positional trades can also be entered, if market comes to...
Saturday was a special trading session and BankNifty opened with a gap-up around 47430 and that was the high of a small trading session.
For tomorrow, BankNifty has to sustain above 47520 for further upside which can take BankNifty towards 47650 and upper marked levels.
On the other side, if BankNifty breaks 47180 on downside, we expect to see 47050 and below...
Banknifty has given a nice bearish move today and closed around the day's low.
The market was trading in a range for last two trading session and gave a good momentum after a break down.
There is a bearish sentiment as the market has closed below both the moving averages on the hourly charts.
Tomorrow is monthly expiry for the indices and if there is another...
if bank nifty breaks out the level marked in the chart, it may go upside.
Disclaimer: All information provided here is for educational purposes and not a recommendation. Analysis Posted here is just our view/personal study method on the stock. Do your own analysis or consult your financial advisor before making any investment decision.
