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Bankniftyintradaylevels

BANKNIFTY Intraday Trade Setup For 16 May 2024BANKNIFTY Intraday Trade Setup For 16 May 2024 Bullish-Above 47970 Invalid-Below 47860 T- 48510 Bearish-Below 47500 Invalid-Above 47610 T- 46950 BANKNIFTY has closed on a bearish note with 0.36% cut today. Since last 2 sessions index has stuck between 48000 and 47500. As per discussed analysis in the weekend we discussed the possibility of halt of the downtrend or reversal. Index has taken a halt which is common before reversal. We will trade on the range breakout of 48000 and 47500. Maintain neutral/sideways view between this range. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 47970 then we will long for the target of 48511. For selling we need a 15 Min candle close below 47500. T- 46950. 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
14 May 2024 - BN needs a bit more thrust to go BullishBankNifty Analysis - Stance Neutral ➡️ The definition of a neutral stance was much more suited for BN rather than N50 today. See the short-range in which BN operated today and notice the slow grind. Even then the volatility was very high, take a look at the HDFC Bank price moves today. How does the elephant move like that? BankNifty may not go bullish even if 48115 resistance level is taken out, it may need a bit more thrust for a change in stance. The reason is because the downfall was quite sharp and before changing the stance, we need to make sure that a higher low is not getting formed. Algos ended the day with gains of 8064 INR. Ideally, it should have made more as the chart was stable - but the volatility ensured the premiums were skewed causing unplanned losses earlier in the day.
NSE:BANKNIFTY
by viswaram
BANKNIFTY Intraday Trade Setup For 15 May 2024BANKNIFTY Intraday Trade Setup For 15 May 2024 Bullish-Above 47950 Invalid-Below 47840 T- 48511 49050 Bearish-Below 47600 Invalid-Above 47710 T- 47000 BANKNIFTY has closed on a slight bullish note with 0.22% gain today. It was total consolidation day, index traded between 47900 and 47600 for the whole day. Nothing triggered as per trade setup today. It has regained 50 EMA in daily TF. In the weekend we discussed in detail about the possibility of halt or reversal of the downmove due to the confluence of the 50 EMA and an inverted hammer on it in daily TF. 48000 will be an important short covering level. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 47950 then we will long for the target of 48510. For selling we need a 15 Min candle close below 47600. T- 47000. 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
13 May 2024– BankNifty rallies 858pts ~ 1.83% intraday - NEUTRALBankNifty Analysis - Stance Neutral ➡️ Just when we thought the 47465 was getting broken for good, we got a pullback. We fell 527pts ~ 1.11% by 10.39 and then the pull back was a whopping 858pts ~ 1.83%. The final close was almost the midpoint of 48115 and 47465 which prompted me to change the stance to neutral for tomorrow. The bulk of the heavy lifting came from HDFC Bank in this dramatic reversal by BN. Just when I thought HDFC may break 1425 for another round of collapse - we get a sharp reversal. It rallied an amazing 29pts ~ 2% to change the entire narrative. On the 63mts TF, BN might try to take out the 48115 resistance tomorrow itself. In case the markets figure out that the reversal was not technical but due to front running, news, or event related - we could see repeat buyers (if news was true) and a sharp fall (if the news was planted and false). Algos forward test is shown as generating 5764 INR, but the day was in loss today - this must be again due to slippage.
NSE:BANKNIFTY
by viswaram
Nifty & Bank Nifty Analysis For 14 May 2024In this video, we'll discuss about Today's Market Movement and Tomorrow's Analysis in Nifty, Banknifty and other segments too. Whether you're a seasoned trader or just starting in the stock market, this analysis will help you in Learning about Market. Let's get right into it! ✅I hope you liked the analysis. Be sure to hit that LIKE. 👍Like | 💬Comment | 👥Share Disclaimer : All views and charts shared in this video are purely for knowledge and information purposes only. Trading is Very Risky Business and it should only be done with proper Knowledge. It is very important to do your own analysis before making any investment based on your own personal circumstances.
NSE:NIFTYLong
by TheStockMantra
BANKNIFTY Intraday Trade Setup For 14 May 2024BANKNIFTY Intraday Trade Setup For 14 May 2024 Bullish-Above 47850 Invalid-Below 47740 T- 48480 Bearish-Below 47200 Invalid-Above 47310 T- 46650 BANKNIFTY has closed on a bullish note with 0.74% gain today. Index respected the lower trendline support of the channel pattern it is following. In the weekend also we discussed that there is a possibility of halt or reversal due the confluence of the 50 EMA and an inverted hammer over that. Possibility of gap up looks high tomorrow. Incase it opens directly near 48500 ,it can be sold into. Best trade will be in long side above 47850. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 47850 then we will long for the target of 48480. For selling we need a 15 Min candle close below 47200. T- 46650. 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 direction and levels for May 13th.>Banknifty also has the same consolidation structure, but wave counts are a little bit different from Nifty. So, if the initial market takes support around the immediate support level, then we can expect a minimum of a 23% pullback wave. If you want reversal confirmation, then you can use EMA 20 or a minor fib level 38% breakout. Alternatively, if the gap-down takes a solid bearish candle, then it may continue further with minor consolidation. Even though if it reaches the demand zone, we can expect consolidation only."
NSE:BANKNIFTY
by Manickamtraders
BankNifty Support & Resistance Levels for 13.05.2024BankNifty found support within the first support zone mentioned in the previous post; however, the rebound was not significant, signaling prevailing selling pressure in the market. The immediate support is identified between 47204 and 47345, with a further support zone extending from 46870 to 47015. Additionally, an essential Fibonacci level at 61.8%, situated at 46547 (from the low of 44429 on 25.01.2024), serves as a distant support level. On the resistance front, the closest zone for BankNifty lies between 48051 and 48146, while a more distant resistance zone is observed at 48222 to 48457. Traders are advised to exercise caution and closely monitor these levels amidst the prevailing market conditions.
NSE:BANKNIFTYShort
by PriteshPalan
Banknifty weekly analysis for 13/05/2024.Banknifty has been trading in a rising parallel channel which is a bearish pattern. The support trend line has been tested 4 times and it is testing it again, closing around it. Even the weekly 20 Ema is around the closing of the candle. If there is a break down on the weekly candle after 2-3 days of consolidation or halt, there is a high chances of bearish momentum is the markets. Major support/target levels:-46600, 45800 Let the market decide the trend and trade accordingly. For last 8 trading session, there is a red candle on the daily charts. A retracement or consolidation is required before any further fall in the market. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
BANKNIFTY Intraday Trade Setup For 13 May 2024BANKNIFTY Intraday Trade Setup For 13 May 2024 Bullish-Above 47800 Invalid-Below 47690 T- 48400 Bearish-Below 47300 Invalid-Above 47410 T- 46737 46090 BANKNIFTY has closed on a bold bearish note with 3% cut last week. In the last weekend we discussed that despite it closed with 1.5% gain there is a selling pressure from higher levels. Index is overall sell on rise till it regains previous weekly high. In daily TF index has reached 50 EMA zone and formed an inverted hammer which indicates a potential halt or reversal. To reverse it has to make a bullish price structure in hourly and daily TF. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 47800 then we will long for the target of 48400. For selling we need a 15 Min candle close below 47300. T- 46737 and 46090. 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
10 May 2024 — BankNifty has to take out 47465 for super Bearish'BankNifty had a better kind of retracement than Nifty, but it was not able to break away from the 47465 today. More importantly, it was not even able to break down either. That signifies the importance of 47465 as a critical SR level. The behavior from open to 10.07 was quite exactly as we wrote about yesterday. This market is held by weak Bears and they run for cover very fast, unable to persist with their short position. When we connect the last 2 days of price action, the visual impression shows the continuation of bearishness. On Monday we hope the 47465 level gets broken down for the good. The next major support comes only at 46284 and if we get there — it would have to come from ICICI, AXIS & SBI as these remain the only 3 major banks that have not mean reverted. The #Banknifty algos made Rs17120 today. The high implied volatility is helping the option sellers.
NSE:BANKNIFTYShort
by viswaram
#Banknifty Directions and Levels for May 10th.Bank Nifty has the same sentiment. Even though if it opens with a gap-up, it won't sustain. So, if the market declines initially, then we can expect correction continuation with minor pullbacks, which may reach a minimum of 47129 to the demand zone. The alternate variation is the same as with Nifty. If the gap-up sustains, it may reject around 23%. After that, if it breaks, it may reach a minimum of Fibonacci level 38 to 50%. However, if it rejects there(23%), then it may lead to a range market to correction."
NSE:BANKNIFTY
by Manickamtraders
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Banknifty Intraday Prediction Levels for 10 May 2024The chart indicates 15 min time frame. These Levels act as Support and Resistance according to position of price. These are strictly for Intraday Trading only. Execution only after break out and close above the Resistance zone or break down and close below the Support zone. These levels act as support and resistance. You have to trade according to level breakout or breakdown. To buy or sell you can follow Buy/Sell Indication given by indicator or you can follow cloud also. If you are a new trader then just watch (No Trade) these levels for some days. Happy trading. Disclaimer: I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult with your Financial Advisor before taking any decision or trade.
NSE:BANKNIFTY
by suraranjanganguli
09 May 2024 - 47465 is the real laxman rekha, break 2 go full 🐻BankNifty Analysis - Stance Bearish⬇️ The bearish call on the BN was spot on, but we ended the day less bearish than N50, for me that is not good enough. Most importantly, BN did not breach the support of 47465, this was very crucial for the momentum to build. I am not exactly sure if we will start negatively tomorrow or not, a huge gapup or gapdown may work in our favor, but if BN is opening flat at the SR level - it may even move up a bit. 47465 for me was the critical support that we failed to break. The price action on a few of the bank stocks looked pretty scary. HDFC Bank -2.37%, IndusInd -2.85%, RBL Bank -3.07%. The only reason we did not fall that much was because ICICI Bank, Kotak, and SBI were holding good at the other end. The biggest doubt I have these days is Kotak is at multi-year lows, HDFC Bank is almost at the 2020 levels but BankNifty is simply near the ATHs - is ICICI, SBI, and Axis Bank responsible for the stark outperformance??? The stance is still bearish, but the first thing we need to do in the morning session is to take out the 47465 levels failing which we could get a minor pullback or short covering. Algos ended up generating 8253 INR, not bad despite a trending day.
NSE:BANKNIFTYShort
by viswaram
#Banknifty directions and levels for May 9th.BankNifty is structurally a little different from Nifty. If the market takes a pullback initially, we can expect a minimum of 38% on the upside. After that, if it rejects there (around 38%), it may undergo consolidation between the previous low to 38% for correction. on the other hand, if the pullback breaks the Fibonacci level 38% (upside), then it may continue further. The alternate variation is a little different. If the market opens with a gap-down and breaks the previous bottom, then the level of 47,786 will act as a minor support level. If the market finds support there, then the range between 47,786 to 38% (upside) will continue. However, if the gap-down breaks it solidly, then the correction will likely continue, and it may reach a minimum of 47,669 to 47,564
NSE:BANKNIFTY
by Manickamtraders
BankNifty Support & Resistance Levels for 09.05.2024BankNifty had a tough time as it broke below the important support at 48088, signalling trouble for bullish traders. Now, the focus shifts to the next support at 47737.20, which was the low point from April 25th. If it breaks too, attention will be on the support range between 47204 and 47345. On the flip side, immediate resistance is expected around 48465, with further resistance seen between 48784 and 49024. Traders are keeping a close eye on these levels as BankNifty manoeuvres through a challenging market environment.
NSE:BANKNIFTY
by PriteshPalan
Banknifty Intraday Prediction Levels for 9 May 2024The chart indicates 15 min time frame. These Levels act as Support and Resistance according to position of price. These are strictly for Intraday Trading only. Execution only after break out and close above the Resistance zone or break down and close below the Support zone. These levels act as support and resistance. You have to trade according to level breakout or breakdown. To buy or sell you can follow Buy/Sell Indication given by indicator or you can follow cloud also. If you are a new trader then just watch (No Trade) these levels for some days. Happy trading. Disclaimer: I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult with your Financial Advisor before taking any decision or trade.
NSE:BANKNIFTY
by suraranjanganguli
Banknifty Intraday Prediction Levels for 8 May 2024The chart indicates 15 min time frame. These Levels act as Support and Resistance according to position of price. These are strictly for Intraday Trading only. Execution only after break out and close above the Resistance zone or break down and close below the Support zone. These levels act as support and resistance. You have to trade according to level breakout or breakdown. To buy or sell you can follow Buy/Sell Indication given by indicator or you can follow cloud also. If you are a new trader then just watch (No Trade) these levels for some days. Happy trading. Disclaimer: I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult with your Financial Advisor before taking any decision or trade.
NSE:BANKNIFTY
by suraranjanganguli