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Bankniftyintraday

PostMortem on BankNifty Today & Analysis of 20 Mar 2023I really cant say that the volatility is that high, if we follow the slope of the moving average - India VIX is still staying low. Not quite a representation of the things happening in global markets. Today i saw VIX trading near 17% higher than last close - but that did not really translate into lot of fear on NSE:NIFTY & NSE:BANKNIFTY . People who look at the headline index performance today would have seen NSE:BANKNIFTY close 0.65% lower, but i saw lot of strength in today's trade. No i am not bullish - but there are good numbers of bulls who are not yielding. Global markets handout was very weak on friday & the news of Credit Suisse, UBS were not comforting either - so the gap down open at 39512 was something on expected lines. From there we started dipping till 10.30 - but the options volumes were not really reflecting the fear ! The total drop was 1.63% ~ 647pts till 10.30, as i said earlier the options premium & volume data was not giving a further meltdown signal. At 10.19 i posted this "$BANKNIFTY bulls are holding on, they have no fear ! i would not go long personally" this was because i felt there could be a bounce back & unlike other traders i did not see it as a bullish move. We did get a bounce of 379pts, traders who went bullish would have booked profits before 10.55 or would have waited for more & walked right into the trap. Because from 11.00 to 13.50 we had the 2nd leg of fall of 428pts. This time the low went below the 1st swing showing bearish signal.  At 12.12 i posted that "$BANKNIFTY would prefer to go short below 38690" Thats because even though the chart showed bearishness the options data was not reflecting fear. In the opening paragraph i did mention about the VIX, in bank nifty's case the implied volatility was not exploding. Lack of which gave a contra signal not to go short too. What happened next - i had absolutely no clue. NSE:BANKNIFTY from the LOD rallied 469pts ~ 1.2% to close the day strongly (even though ended in red). This is specifically why i said the bulls have no fear ! Guess what happened to my trading today - 0. I couldnt find a single strong buy/sell signal.  --- 15mts TF is kind of showing a range emerging between 38690 & 39742. The resistance of 39742 is a strong zone - i know. But not quite sure how long the 38690 level will hold up. Just like the earlier analysis reports - for further bearish entries we need close below 38690. --- 1hr TF shows 2 retest rejections from the 39742 level. Its not a perfect M pattern ie double top. It would have been unless for the last 1 hr rally today. See below chart ! The last 1 hr has negated the 2nd leg of the M pattern. Was that a fake move or original - we will get to know tomorrow. to view all 9 charts of today's report visit viswaram. com
NSE:BANKNIFTY
by viswaram
Banknifty daily analysis for 17/03/23.Banknifty has given a doji on the daily time frame and closed above 39000 levels. It has been taking resistance, on hourly charts, from the 20 ema and closed just below the levels. Today, the index has consolidated in a parallel channel and formed a flag and pole pattern. If there is a break down of the pattern, nice fall can be seen in coming days and good targets can be achieved. Market has closed above the 20 ema, on 15 minutes chart, that shows some positivity but for short term only. The market trend is negative and fall can continue after a retracement. Support :- 38550, 38000 Resistance :- 39530, 39780 Wait for the market to beark out/down of the pattern and watch the price action near the levels before entering the markets.
NSE:BANKNIFTY
by Mambotrade
Banknifty weekly expiry prediction 16/03/23.Banknifty has given a nice bearish engulfing candle and the global markets are too trending in the negative momentum. Even after a gap up opening the market has closed 360 points lower giving a 1000 points move from day high. On hourly charts, the market has taken a rejection from the 20 ema and from the first candle onwards it came for selling. In last 5 trading sessions, banknifty has fallen more than 2500 points or 6%. It can take a halt before another selling and form a narrow trading range for tomorrow. On the 15 minute time frame, RSI is trading in a oversold zone and there can be a halt in the first half. It would be wise to trade in the second half of the trading session, as there can be a gap down opening seeing the global markets. Support :- 38850, 39550 Resistance :- 39125, 39530 Wait for the price action near the price levels before entering the markets.
NSE:BANKNIFTY
by Mambotrade
FASP levels for Bank Nifty 13/03/2023The FASP for BankNifty is listed for 13-03-2023. 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.
NSE:BANKNIFTY
by SathishChandrasekaran