Today BankNifty opened with a gap-up above physiological level of 47000 but faced resistance at 47200 - 47250 zone and we saw selling towards 46850 zone and after that BankNifty was trading in a small zone for entire day.
For tomorrow, BankNifty has to sustain above 47160 for further upside which can take BankNifty towards 47270 and upper marked levels.
On the...
The FASP for BankNifty is listed for 23-02-2024. 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...
Banknifty has formed a nice bullish candle on the weekly charts and closed 750 points higher.
The market remained in a range for a while and gave a nice break out during the previous week.
In the last trading session market tried to clear the resistance levels of 46600 but couldn't clear the same and closed around 46400 levels.
Major resistance levels :- 46580,...
Banknifty has the same sentiment structurally; we can expect a range market today. The movement will occur only if it breaks either up or downside with a solid structure."
Today BankNifty opened with a gap-up around 46500 which was also a major resistance zone as we mentioned and we saw morning selling towards 46260 odd levels where BankNifty took support and gave a bounce back but overall it was a range-bound day.
For tomorrow, BankNifty has to sustain above 46550 for further upside which can take BankNifty towards 46670 and upper...
#Banknifty
For BankNifty, there seems to be a similar sentiment where it's in the 5th wave of a diagonal structure. If it rejects around the immediate resistance level (78), there's an expectation of a correction, with a minimum retracement of 23 to 38%.
However, if the gap-up sustains or breaks the immediate resistance, then the rally is likely to continue.
Today BankNifty opened with a gap-up around 46100 and opening price was a morning high. We saw almost 500 points fall in morning but BankNifty took support at 45590 and gave a rebound towards 46300 levels.
For tomorrow, BankNifty has to sustain above 46350 for further upside which can take BankNifty towards 46470 and upper marked levels. Keep an eye on 46500...
Banknifty has been trading in a wide range of 2000 points for last three week and is constantly trading around weekkly 20 ema.
Though it has closed below the moving average and took a retest of 61.8% fibonacci level, giving a nice fall after it.
Bullish trade in the index can be trade once it sustains above 46900-47000 zone as it will confirm a W pattern and...
Trade Setup for 12-02-2024
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down...
Banknifty has given a nice move after the budget day and closed 200 point lower on daily close and 1000 points lower from the day's high.
The weekly chart is showing a rejection from golden fib ratio of 61.8% around 47k zone.
Though, it has closed above the 20 WEMA buy still it is trading below 20 DEMA. The market has given much move in the last week but...
Today BankNifty opened with a gap-up around 46600 and after making a high around 46900, it gave a 1000 points fall from higher levels towards 45900 and closed at 45970.
For Monday, BankNifty has to sustain above 46250 for further upside which can take BankNifty towards 46380 and upper marked levels. On the other side, if BankNifty breaks 45890 on downside, we...
Banknifty has given a nice up move in the first half and consolidated on the expiry for the rest day.
It is facing rejection from a trend line and a resistance zone of 46150. If there is a break out after a flat or gap down opening, it can test the round number figure quickly.
In case of a gap up opening, let market retest the break out levels or form a price...
Today BankNifty opened with a gap-up around 45171 and gave a good rally in first half upto 45660, however, we saw selling from upper levels and BankNifty closed around 45400.
For today, BankNifty has to sustain above 45600 for further upside which can take BankNifty towards 45720 and upper levels. On the other side, if BankNifty breaks 45100 on downside, we...
Banknifty has closed below the weekly 20 ema and looks bearish as the golden ratio is also breached.
The previous trading session has formed a bullish hammer but still is trading below the previous day high.
Bullish swing/intrady should be created above 46200 levels. It has taken support from 20DEMA.
Major support levels :- 44480, 44290
No trading zone is...
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Bank Nifty - 30/01/2024 - Levels
IMPORTENT ZONE FOR THE DAY: 45368 – 45400
Important Support and Resistance for the Day...
Support - Resistance -
Support-1: 45400 Resistance-1: 45525
Support-2: 45265 Resistance-2: 45660
Support-3: 45110 Resistance-3:...
Banknifty is taking support from the weekly 20 ema and has formed a bearish engulfing candle on the charts.
The movinga averages are being respected by the market, it is hovering between both 20 and 200 ema on daily charts.
A consolidation is there in between 50-61.8% fibonacci levels. It has been trading in a similar range for last 3 trading session and this...
Today BankNifty opened with a gap-up around 46100 and after making a high around 46250, it gave a 600+ points fall from higher levels towards 45550. BankNifty is looking bearish in comparison to Nifty and if it fails to hold 45500 on closing basis, we may see another fresh selling.
For tomorrow, BankNifty has to sustain above 45940 for further upside which can...
Today BankNifty opened with a gap-down around 45500 and after making a low at 45430 it gave a 700+ points bounce from lower levels towards 46180 but again we saw a selling and it come down to 45500. The positive point is that BN didn't break the morning low and closed above the opening price.
For tomorrow, BankNifty has to sustain above 45850 for further upside...
![BANKNIFTY: Simple Trade Setup | BANKNIFTY | 12-02-2024 [INTRADAY]](https://s3.tradingview.com/d/DfKNxJ79_mid.png "Simple Trade Setup | BANKNIFTY | 12-02-2024 [INTRADAY]")
