BankNifty Intraday Trade Setup | 30th Jan '24Today 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 expect to see 44980 and below marked levels on the chart.
Expectations: Volatile day.
Intraday Levels:
Buy Above - 45940
Sell Below - 45500
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Bankniftyintradayanalysis
BANKNIFTY Intraday Trade Setup For 16 Aug 2022BANKNIFTY Intraday Trade Setup For 16 Aug 2022
Buy-Above 39090
Sl- 38970
T-39222 39355 39517
Sell-Below 38955
Sl-39070
T-38821 38740 38650
BANKNIFTY has closed a positive sentiment with more than 0.4% gain. It has closed above the psychological level 39000. Index is bullish till it closes above previous day low. Closing below PDL will be a sign of weakness in the current supper bullish move. Next major resistance lies near 39517(100 +/-). There is no weakness in any TF as of now. But we will give a pullback of this mega up move or consolidate at higher level. This will be confirmed with price action and will be noticed.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 39090, we will long for the target of 39222, 39355 and 39517.
For selling we need a 15 Min candle close below 38955. Post breakdown we will hit 38820, 38740 and 38450.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
BANK NIFTY - 08.08.2022 - DAILY & 15 MIN CHART - BAHAVAN CAPITALBANK NIFTY as per Daily chart Analysis and 15min Chart analysis these are my observations
Daily chart analysis as per Elliot wave the 5th wave gets completed at 38106 level. As well as on a 15 minute chart the 5th Wave gets completed at 38106 level.
I also observe Head and Shoulder pattern on a 15 minute chart and having 38106 level resistance the market should become bearish after testing it and take a support at 38000 level. Once 38000 is broken i anticipate to come down till 37825 level.
Happy Profitable Trading to all...