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Bankniftyintradaylevels

Banknifty prediction for tomorrow 12 July 24As we discussed, BANKNIFTY gave a good bearish momentum and recovered it from 51800. If we look at the chart now: The market was trading in a falling wedge pattern, which indicates the upcoming market is bullish. The market has broken it to the upside. The market has given a very sharp recovery from 51800. I can expect some more bullishness in the upcoming market. Support levels: 51770, 52032, 200-EMA, VWAP Resistance levels: 52625, 53100 If we look at the OI data: PCR = 0.81, which has been increased from 0.60, shows a good streak of bulls. Most of the positions have been rounded off today. There is not much new position addition, only the removal of existing positions. Reason: RSI ~ 60 shows the Bullish structure of the market. Price > EMA(13, 50, 200) shows bullisah market structure. PCR = 0.81 shows that the market is bullish. Price > VWAP shows a bearish market structure. Verdict: Bullish Plan of action: Sell 52300 PE (hedge it with 20/- PE option)
NSE:BANKNIFTYLong
by finnova_
2
BankNifty Intraday Support & Resistance Levels for 12.07.2024On Thursday, BankNifty opened gap-up but fell to 51,749, touching the daily and 75m demand zones mentioned in the last post. It then recovered 590 points from the low. The weekly and daily trends (50 SMA) are still positive. Support Levels: Near support/demand zone (75m): 51,510 - 51,784 (tested) Major support/demand zone (Daily): 51,138 - 51,934 Resistance Levels: Near small supply/resistance zone (30m): 53,064 - 53,188
NSE:BANKNIFTY
by PriteshPalan
Banknifty Prediction for today 11 july 24As we discussed, BANKNIFTY gave a good bearish momentum with a grand bearish opening of 300 points in 5 min. #Time Frame = 30 min If we look at the chart now: The market is trading in the range of 52276-52676. The market is continuously taking support at 200 EMA. Also, the 1D time frame market is receiving support at 13 EMA, which might lead the market to go bullish. Support levels: 52032, 51610, and 200 EMA Resistance levels: 50 EMA, 52625, and 53100 If we look at the OI data: PCR = 0.60, which shows a bearish behavior in the market. The market can be seen as very volatile between 52032 and 52625. 52200 is maxpain. Higher levels have higher CE writing than PE writing on lower levels. Reason: RSI ~ 40 shows the bearish structure of the market. Price = EMA(13, 50, 200) shows market is at make and break point. Soon, there will be good momentum on either side. PCR = 0.60 shows that the market is bearish. Price < VWAP shows a bearish market structure. Verdict: Neutral Plan of action: The morning 15-minute direction will determine the market direction. Once the direction is confirmed, make the position according to case 1 or case 2 as provided.
NSE:BANKNIFTY
by finnova_
1
BankNifty Intraday Support & Resistance Levels for 11.07.2024On Tuesday, BankNifty broke the past three days' low, falling to 52,075 before closing at 52,189.30. It has remained within the 125m Demand Zone for the fourth consecutive day. The weekly and daily trends (50 SMA) are still positive. Support Levels: Near Support/Demand Zone (125m): 51,996 - 52,379 (currently trading inside the zone for the last four days) Far Support/Demand Zone (75m): 51,510 - 51,784 Major Support/Demand Zone (Daily): 51,138 - 51,934 Resistance Levels: Near small Supply/Resistance Zone (30m): 53,064 - 53,188
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 10.07.2024On Tuesday, BankNifty remained range-bound for the third consecutive day, neither breaking below the 125m support zone nor surpassing the high of July 5th. The weekly and daily trends (50 SMA) are still positive. All support and resistance levels remain the same as mentioned in the last post: Support Levels: Near Support/Demand Zone (125m): 51,996 - 52,379 Far Support/Demand Zone (75m): 51,510 - 51,784 Major Support/Demand Zone (Daily): 51,138 - 51,934 Resistance Levels: Near Small Supply/Resistance Zone (30m): 53,064 - 53,188
NSE:BANKNIFTY
by PriteshPalan
Banknifty predi tion for tomorrow 10 July As we discussed, BANKNIFTY opened sideways and ended sideways with volatility in the uptrending channel. If we look at the chart now: The market is trading in the range of 52276-52676. The market is continuously taking support at 200 EMA. Also, the 1D time frame market is receiving support at 13 EMA, which might lead the market to go bullish. Support levels: 52276, 52000, and 51610 Resistance levels: 52676, 52816, and 53197 If we look at the OI data: PCR = 0.64, which shows a bearish behavior in the market. The market can be seen as very volatile between 52276 and 52676. There has been good CE writing on higher levels, which indicates that bears are powerful. The market should be sideways in the range, and if it breaks the range, it is going to give good momentum. Reason: RSI is 40-60; shows market sideways structure. Price = EMA(13, 50, 200) shows market is at make and break point. Soon, there will be good momentum on either side. PCR = 0.64 shows that the market is bearish. Price < VWAP shows a bearish market structure. Verdict: Neutral Plan of action: The morning 15-minute direction will determine the market direction. Once the direction is confirmed, make the position according to case 1 or case 2 as provided.
NSE:BANKNIFTY
by finnova_
1
Banknifty prediction for today 9 JulyAs we discussed, BANKNIFTY opened sideways and ended sideways with volatility. If we look at the chart now: The market is trading in the range of 52276-52676. Support levels: 52276, 52000, and 51610 Resistance levels: 52676, 52816, and 53197 200 EMA and 50 EMA is going to provide good suport and resistance. If we look at the OI data: PCR = 0.63, which shows a bearish behavior in the market. The market can be seen as very volatile between 52276 and 52676. There has been good CE writing on higher levels, which indicates that bears are powerful. I expect the market to be sideways in the range, and if it breaks the range, it is going to give good momentum. Reason: RSI < 40-60; shows market sideways structure. EMA(200) < Price < EMA(13,50) shows bearishness. If it breaks, the support trendline can give targets till 200-EMA. PCR = 0.63 shows that the market is bearish. Price < VWAP shows a bearish market structure. Verdict: Neutral Plan of action: The morning 15-minute direction will determine the market direction. Once the direction is confirmed, make the position according to case 1 or case 2 as provided.
NSE:BANKNIFTY
by finnova_
#Banknifty directions and levels for July 9th.Banknifty's structure is slightly different from Nifty, but it also indicates a range-bound market. If the market initially corrects, it may reach a minimum of 52233 to the demand zone. After that, if it finds support there, we can expect a minimum of a 38% bounce back in the minor swing. On the other hand, if it breaks the demand zone, the correction may likely continue. Alternatively, if the market initially pulls back, we can expect it to reach 52629 to 52796 with minor consolidation. Structurally, it could be an expanding flat. So, if it rejects around the supply zone, we can expect a correction.
NSE:BANKNIFTY
by Manickamtraders
Banknifty prediction for tomorrow 8 July 24As we discussed, BANKNIFTY opened a gap-down and gave a nice bearish momentum to the downside. If we look at the chart now: The market is trading at the support trendline and also took a pullback to the upside in the last hour. The market is also taking resistance at 50-EMA. It might give either side momentum. There can be 2 cases as it's trading at the terminal point. Case 1 : If it opens up, it can continue bullish momentum. Case 2 : if it opens a gap-down to support the trendline, it might continue bearish momentum till 200-EMA. Support levels: 52385, 52081, and 200 EMA Resistance levels: 52827, 53500 If we look at the OI data: PCR = 0.71, which shows a neutral behavior in the market. The market can be seen as very volatile between 52500 and 53000. There is good PE writing at 52500 and 52000, which is going to provide good support. However, 53000, 53100, and 53200 have very good CE writing, which is going to provide a good resistance to the upside. I am expecting the market to be Case 1 : Take support here and again retest the upper resistance trendline. Case 2 : If it breaks to the downside, it can give a bearish target till 200 EMA. Reason: RSI < 40-60; shows market sideways structure. EMA(200) < Price < EMA(13,50) shows bearishness. If it breaks, the support trendline can give targets till 200-EMA. PCR = 0.71 shows that the market is neutral. Price < VWAP shows a bearish market structure. Verdict: Neutral Plan of action: The morning 15-minute direction will determine the market direction. Once the direction is confirmed, make the position according to case 1 or case 2 as provided.
NSE:BANKNIFTY
by finnova_
1
#Banknifty directions and levels for July 8thThe Bank Nifty structure differs from Nifty, but the sentiment is the same. So, if the market opens with a gap-down and sustains, we can expect a minimum of 52,511 to 52,385. After that, if it consolidates or breaks, then the correction will likely continue, and we can expect the next target to be the swing low to the minor demand zone. On the other hand, if it rejects around 52,385, then we can expect a range market, meaning the market may reach the previous high again. Alternatively, if the initial market takes a pullback, then it may reach a minimum of 52,765 to 61% with minor consolidations.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 08.07.2024On Friday, BankNifty opened gap-down, found support at the 125m demand zone (51,996 - 52,379) mentioned in the last post, and bounced back but did not fully recover due to a lack of buying pressure, closing 443 points down at 52,660.35. The weekly and daily trends (50 SMA) remain positive. Support Levels: Near Support/Demand Zone (125m): 51,996 - 52,379 Far Support/Demand Zone (75m): 51,510 - 51,784 Major Support/Demand Zone (Daily): 51,138 - 51,934 Resistance Levels: Near Small Supply/Resistance Zone (30m): 53,064 - 53,188
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 05.07.2024BankNifty opened gap-up and made a new all-time high of 53,357.70 but stayed within the previous day's range, ending flat with just a 14-point gain. The weekly and daily trends (50 SMA) remain positive. Support Levels: Near 125m Support/Demand Zone: 51,996 - 52,379 Near 75m Support/Demand Zone: 51,510 - 51,784 Major Support/Demand Zone (Daily): 51,138 - 51,934 Resistance Levels: Near Small Supply/Resistance Zone: 53,139 - 53,222 (tested yesterday) Currently, there are no additional supply zones seen on the chart.
NSE:BANKNIFTY
by PriteshPalan
#Banknifty directions and levels for July 4th.Bank Nifty has the bullish sentiment and made a new high in the previous session. If you look at the structure, you can see many patterns there, such as the flag pattern, cup & handle pattern, and cypher pattern. But here also, the market suggests that if it rejects around the immediate resistance or if the gap-up doesn't sustain, then we can expect a 23% to 38% retracement in the minor swing. After that, if it finds support at either the 23% or 38% levels, then we can expect consolidation followed by a rally continuation. A correction will occur only if it breaks the 38% Fibonacci level. If it breaks, we can expect the next targets to be 50% and 78%. Alternatively, if the gap-up sustains or if it consolidates around the immediate resistance level, then the rally will continue further.
NSE:BANKNIFTY
by Manickamtraders
Banknifty prediction for today 03 JULYAs we discussed, BANKNIFTY opened in the channel resistance zone. And the market started falling till 52000. If we look at the chart now: the market is trading in the downside channel in a flag pattern. It might complete the Flag and Pole pattern. If the market takes support from 52000, a good bullish momentum can be seen to the upside. The market is getting ready for the upside. Support levels: 52061, 51809, and 200 EMA and 51292 Resistance levels: 50 EMA, 52609, 52850, 53000 If we look at the OI data: PCR = 0.71, which has changed from 0.87, shows that bears are increasing their position while bulls wind off some of their positions. The market can move in either direction, as per the OI data. 52000 is a good support point, whereas 52500 and 53000 are good resistance points as having good CE writing. The morning 15-minute direction will determine the market direction. Reason: RSI ~ 40 indicates a bearish structure in the market; if breaks to the downside, it can give a good bearish momentum. EMA(200) < Price < EMA(13,50) shows bearishness, and the market can retest the 200 EMA. PCR = 0.70 shows that the market is mildly bearish. Price < VWAP shows a bearish market structure. Verdict: Sideways or Bullish Plan of action: The morning 15-minute direction will determine the market direction. Sell 52000 CE and Sell 52000 PE (Hedge it with 20/- premium); once the direction is confirmed, exit in the opposite position.
NSE:BANKNIFTYShort
by finnova_
#Banknifty directions and levels for July 3rd.> BankNifty is totally different from Nifty. Today, the market also indicates a range-bound movement. We can expect the next movement only if it breaks the current range. > If the market breaks the level of 52340 on the upside, we can expect a rally. On the other hand, if it breaks the demand zone on the downside, we can expect a continuation of the correction. This is the basic structure. Alternatively, if it doesn't break either the upside resistance or the downside demand zone, it will remain in a range-bound market.
NSE:BANKNIFTY
by Manickamtraders