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Bankniftyintradaylevels

Banknifty Prediction for tomorrow 30 May As we discussed, the Banknifty bearish structure market gave a very nice momentum to the downside. If we look at the chart now: The market is trading at 200 EMA(30 min TF), which can provide potential support. Also, bank nifty is trading between fib 0.50 and 0.61, which might also be a good support zone. The price is trading lower than EMA(13,50) and above EMA(200). this zone is perfect for taking support for Banknifty. If we look at the OI data: PCR = 0.63 shows a bearish signal in the market. There is good writing on both sides at 48400 and 48500. 48000 has good PE writing, so it is going to provide a good support zone. on the upper side, 49000 is going to be a hard resistance zone because of heavy CE writing. I am expecting Case 1: Sideways in range 48400-48853. Case 2: if the market breaks 48400 to the downside- Bearish With a good volatility market in upcoming sessions because VIX is 24.2. Reason: RSI < 40 shows a weak bull structure. (Bearish) EMA(13) > Price >= EMA(200), which indicates indecisive or rather sideways market. The market might receive support at 200 EMA. The market has given a good volume spike that shows this level is good support. PCR = 0.63 indicates bearish. price < VWAP shows that a weak market structure can lead to a bearish market. Verdict: Bearish or Sideways. Plan of action: Case 1: Sideways: Sell 48400 PE & 48850 CE (Hedge it with 15/- premium options) Case 2: Bearish: Sell 48400 CE (Hedge it with 15/- CE option)
NSE:BANKNIFTY
by finnova_
8
#Banknifty directions and levels for May 29th.The current variation indicates that if the market breaks the 38% Fibonacci level, we can expect the correction to continue, potentially reaching the next Fibonacci level of 50%. If it finds support there, the 4th sub-wave may complete and start the 5th pullback wave. Alternatively, if the market finds support around the immediate support or if the initial market takes a solid pullback, we can expect a range market to rally continuation.
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY Intraday Trade Setup For 29 May 2024BANKNIFTY Intraday Trade Setup For 29 May 2024 Bullish-Above 49350 Invalid-Below 49240 T- 49775 Bearish-Below 49040 Invalid-Above 49150 T- 48450 BANKNIFTY has closed on a bearish note with 0.28% cut today. Yesterday we discussed that chances of index being inside 49700 and 49000 is high, so has happened today. Now tomorrow chances of a trendy move tomorrow. Below 49000 index may slip towards 48450 zone. Above 49350 chances of a upmove is also there. Be ready for both side moves ahead of major event. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 49350 then we will long for the target of 49800. For selling we need a 15 Min candle close below 49040. T- 48450. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
Banknifty prediction for tomorrow 29 Mar | Expiry SpecialAs we discussed, the Banknifty sideways or bearish structure market was bearish while having sideways volatility. If we look at the chart now: The market has broken the support level to the downside with a continuously increasing volume. If the market fails to take support at 50 EMA, it will fall rapidly to the 48631 level. RSI is also below 50 and about to cross 40, which will lead to a strong, bearish structure, and the market can correct itself to 200 EMA levels. If we look at the OI data: PCR = 0.80, which has fallen from 0.98. That indicates that there is good CE writing at higher levels, which can also be seen in the OI chart. 49000 is the max pain for Banknifty. Also, the next good PE writing is at 48500. there is not much CE writing on lower levels. I am expecting a bearish market with a good volatility market in upcoming sessions because VIX is 24.2. Reason: RSI < 50 falling from the upside shows a good reduction in the bull's strength. If it crosses 40 on the downside, the market will be strong and bearish. EMA(13) > Price > EMA(200), which indicates indecisive or rather sideways market. the market can correct itself till 200 EMA. The market has formed a lower high that indicates the market is bearish. PCR = 0.80 indicates mild bullish, but this has fallen from 0.98, which shows good CE writing on higher levels. price < VWAP shows that a weak market structure can lead to a bearish market. Verdict: Bearish Plan of action: Sell 49100 CE (Hedge it with 15/- PE premium) Note: you can target 200 EMA.
NSE:BANKNIFTYShort
by finnova_
#Banknifty Directions and levels for May 28th.Bank Nifty has the same sentiment. Structurally, it's a little correction followed by a long rally. So, if the market opens neutral or if the initial market takes a pullback, we can expect a range market within the previous day's range. After that, if it breaks either upside or downside, then we can follow that trend. Here also, my opinion is bullish. An alternate variation is similar to Nifty. If the market takes a correction initially, it could reach the Fibonacci level of 38%, which is also a strong support. After that correction, if it finds support there, we can expect a minimum pullback of 38% to 50%. Alternatively, if the correction occurs sharply and if it breaks or consolidates around the Fibonacci level of 38%, then the correction will likely continue.
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY Intraday Trade Setup For 28 May 2024BANKNIFTY Intraday Trade Setup For 28 May 2024 Bullish-Above 49700 Invalid-Below 49590 T- 50200 Bearish-Below 49050 Invalid-Above 49160 T- 48450 BANKNIFTY has closed with 0.63% gain today. Buy triggered above 49060 and hit our target perfectly (49688). Price took resistance exactly at our target and in the last 45 Min fell with full force but it seems like DIIs came and supported the market and observed the selling. Chances of a range bound market looks high between 49700 and 49000 tomorrow. Breakout of this zone may trigger a directional move. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 49700 then we will long for the target of 50200. For selling we need a 15 Min candle close below 49050. T- 48450. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
Banknifty Prediction for tomorrow 28 MayAs we discussed, Banknifty's bullishness in past sessions has hit its target today. If we look at the chart now: The market has touched the target (49471), as we mentioned in the previous analysis. A huge fall was registered once the given target got hit. That means it's working as a good resistance zone for the upcoming session. Now, for the market to go further, it has to take some consolidation in the range (49168-49650), which is Fib level (0.38). If we look at the OI data: PCR = 0.98, which has fallen from 1.34. That indicates that it had a huge PE winding today, which can also be seen in the OI chart. There is a CE addition for 49500 and 50000, which is going to provide good resistance from now on. 49000 is good support at lower levels. I am expecting a sideways in the range (49168-49650) with a good volatility market in upcoming sessions because VIX is 23+. Reason: RSI ~ 60 falling from the upside shows a good reduction in the bull's strength. EMA(13) > Price > EMA(200), which indicates indecisive or rather sideways market.. The market is still making HH & HL, which shows bullishness, but a huge selling pressure from the upside shows lots of sellers' interest that might lead to a sideways market. PCR = 0.98 indicates bullishness, but this has fallen from 1.34, which shows lots of profit booking on the upside. price < VWAP shows that a weak market structure can lead to a bearish or sideways market. Verdict : Sideways or Bearish Plan of action: Sell 49600 CE and 49100 PE (Hedge it with 15/- premium) Note: Exit CE if it breaks 49700 to the upside & Exit PE if it breaks 49100 to the downside. But right now, there are more chances for the market to be sideways or bearish.
NSE:BANKNIFTY
by finnova_
#Banknifty directions and levels for May 27th.Bank Nifty also has the same sentiment, and HDFC Bank has a solid bullish candle. If the market continues this trend, we can expect the rally to continue, potentially reaching a minimum of 49196 to a maximum of 49335 (78%). Alternatively, if the initial market takes a correction, we could wait for an immediate support breakout. If it breaks, the minor demand zone will act as support. If the market finds support there, we can expect a bounce back
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY Intraday Trade Setup For 27 May 2024BANKNIFTY Intraday Trade Setup For 27 May 2024 Bullish-Above 49060 Invalid-Below 48950 T- 49635 Bearish-Below 48640 Invalid-Above 48750 T- 48200 BANKNIFTY has closed on a bullish note with 1.6% gain last week. Index looks ready for a fresh ATH. Index is still following the channel in daily TF, now the upper trendline of the channel has to be tested which will take index above 50k mark. If index sustains above today's high after 10 o'clock then once again there is a chance of trendy move on Monday. Below 48600 index may give a retracement of the 90 degree upmove from 47450. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 49060 then we will long for the target of 49650. For selling we need a 15 Min candle close below 48640. T- 48200. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
Banknifty prediction for Today 24 MayAs we discussed, Banknifty gave a very nice momentum with huge bullishness. If we look at the chart now: The market has broken the wedge pattern to the upside, and it is also continuously making HH and HL. The price is trading above EMAs, which shows strength in the price. Also, RSI > 60 shows huge bullishness in the market. If we look at the OI data: PCR = 1.20, which has risen from 0.73, shows huge PE writing on the Lower side, indicating a bullish structure in the market. The market does not have much CE writing on the higher side. That makes bulls more powerful. Lower levels have good support levels, as shown in the OI chart. I am expecting a sideways market to go bullish. It might take some sideways consolidation, but I am overall bullish on the market. Reason: RSI > 60 shows the market is having very good strength. Price > EMA(13,200), which indicates powerful bull market. The market has broken the pattern to the upside while making HH and HL. PCR = 1.20 shows a heavily bullish nature in the market. price > VWAP shows weak market structure. Verdict: Sideways or Bullish Plan of action: Sell 48600 PE and 49100 CE (Hedge it with 15/- premium) Note: Exit the opposite either side it breaks
NSE:BANKNIFTYLong
by finnova_
23 May 2024 - BankNifty stance is bullish now, but 48947 crucialBankNifty Analysis - Stance Bullish ⬆️ Yesterday we changed the stance from bullish to neutral as 48115 resistance was not breached, but that break came by 09.51 today. Hope you got my email when we revised the stance back to bullish via trading view. The intraday rally was a whopping 957pts ~ 2.00% and we took out 2 resistances today viz - 48115 and 48661. The next one is at 48947. On a higher time frame, BN will receive more momentum once this resistance is taken out. The reason was the rejection of this level on 10th April and that may have a bearing.
NSE:BANKNIFTYLong
by viswaram
BANKNIFTY Intraday Trade Setup For 24 May 2024BANKNIFTY Intraday Trade Setup For 24 May 2024 Bullish-Above 48850 Invalid-Below 48740 T- 49450 Buy_2- From - 48250 Invalid-Below 48140 T- 48800+ BANKNIFTY has closed on a bold bullish note with 2% gain today. After 2 weeks it was a clear trendy day. Tomorrow once again we can expect continuation above today's high. Best scenario will be on a flat opening a slight pullback before the breakout of 48850. In case there is a down move then 48250 will be a strong support (38.2%). We will consider a buy position from the same. Avoid bearish view till a bearish price action establishes in 15 Min TF. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 48850 then we will long for the target of 49450. 2nd buy can be considered from 48250. T- 48800+. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
Reversal Broadening Wedge pattern in Banknifty IndexBANKNIFTY INDEX Key highlights: 💡⚡ 📈 On 1 Day Time Frame Banknifty Index Showing Reversal of Broadening Wedge Pattern. 📈 It can give movement upto the Reversal Final target of Above 50250+. 📈 There have chances of breakout of Resistance level too. 📈 After breakout of Resistance level this Banknifty Index can gives strong upside rally upto Above 52950+. 📈 Can Go Long in this Banknifty Index by placing a stop loss Below 46049-.
NSE:BANKNIFTY
by TradZoo
#Banknifty directions and levels for May 23.BankNifty presents a different scenario from Nifty, with its structure indicating a range-bound market. If the gap-down sustains, we can expect a minimum level of 47,547. If it then faces a sharp rejection, the range is likely to continue. However, if it breaks 47547, it could reach47340 to 47256. Alternatively, if the gap-down doesn't sustain and the market pulls back initially, we can expect a minimum level of 48,083. Following this, if it faces a sharp rejection, the range is likely to continue. If it breaks 48,083, it could move up to 48,166 to 48,259.
NSE:BANKNIFTY
by Manickamtraders
22 May 2024 - BankNifty stance revised to neutral, not bullishThe trades on banknifty were going on perfectly till 14.30. The final hour took out all the profits from the intraday straddles, not just that the algos ended the day in RED. The moves that came in the 2 16mts candles 14.51 and 15.07 were not normal. Yes, we have seen even wilder moves from BN earlier, but today was just stop loss hunting by the HFTs - how else would you explain a 500pts swing in 32mts?? We are not bearish as 47465 support was held, and the reason we are not bullish is that 48115 resistance was not taken out. Between these 2 levels, we would like to maintain a neutral stance. Also decided against running nifty50 algos on Thursdays as the stakes are too high. It is better to sit the day out than risk my capital, effort, and time for the manipulative games by the HFTs.
NSE:BANKNIFTY
by viswaram
21 May 2024 - BankNifty has a candle below Banknifty had a more flattish tone today compared to Nifty. The hesitance to get past the 48115 resistance was clearly visible. Even though Nifty closed the day flat, BN gave up some points ~ 151, -0.31%. We wish to start the 22nd with a bullish view but switch back to neutral if the 48115 resistance is not getting taken out. Since 22nd is the expiry day, the actual moves may not be conclusive. Will wait for the 3pm move to guess the direction with a higher confidence level
NSE:BANKNIFTYLong
by viswaram
Banknifty prediction for tomorrow Expiry 22 MayAs we discussed, Banknifty was sideways today. If we look at the chart now: The market is trading at 200 EMA, breaking off, which might lead to a double top neck break to the downside. The market is making a rising wedge pattern after a huge fall, which might be a preparation for next fall to the downside if it beaks to the downside. Important support levels will be 47800, 47387, and 47000. on the other hand, 48231, 48445, and 48587 are going to provide a good price action resistance. If we look at the OI data: PCR = 0.73, which has fallen from 0.98, which shows huge CE writing on the upper side, indicating a bearish structure in the market. 48000 is maxPain. On the higher side, there is a huge amount of resistance at each level. However, on the lower side, PE writing is less effective, which indicates that the market might fall in the upcoming session. I am expecting a sideways market inside a rising wedge pattern. If it breaks down, I expect a good bearish move to the 47387 level. Reason: RSI is 40-60 shows the market is going to be sideways. Price < EMA(13,200), which indicates weak bulls. The market is making a rising wedge pattern. If it breaks to the downside, it's going to give a nice fall. The market is making double the top if the price breaks the downside of 200 EMA. There is a high probability of market bearishness. price < VWAP shows weak market structure. Verdict: Sideways inside rising wedge. if breaks to downside Bearish. Plan of action: Sell 48200 CE and 48800 PE (Hedge it with 15/- premium)
NSE:BANKNIFTY
by finnova_
Bank NIfty witnessed Rebound from support level in last weekBank Nifty remained volatile during the last week & closed on a positive note A Bullish candle is formed on weekly chart after big bearios candle in the prev week The imp upside hurdle is placed around 48400/500 whereas downside support is around 47200 zone in case of Bearish Pattern at higher levels, the index can come back to prev week range Track for price to form Price Action Patterns at Imp Levels, However market may show volatility during the last phase of elections *For Educational Purpose Learn & Practice Price Action setups
NSE:BANKNIFTYLong
by Himanu_HATradeTalk1
BANKNIFTY Intraday Trade Setup For 20 May 2024BANKNIFTY Intraday Trade Setup For 20 May 2024 Bullish-Above 48300 Invalid-Below 48190 T- 48720 49165 Bearish-Below 48000 Invalid-Above 48110 T- 47450 BANKNIFTY has closed on a slight bullish note with 1.64% gain last week. Index is taking 5th bounce from channel's lower trendline in daily TF. As per this ongoing pattern index will test the upper trendline. One need to check previous lows in daily TF, break of any previous will trigger a downside structure which be somehow strong. Topping out signs needs to be spotted in monthly TF. I will treat index decline till it is below 50k and bullish above the same. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 48300 then we will long for the target of 48720. For selling we need a 15 Min candle close below 48000. T- 47450. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
2