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Bankniftyintradaylevels

#Banknifty directions and levels for April 18th."Good morning, friends! Here are the directions for April 18th: Nifty and BankNifty both consolidated in the previous session, so structurally, if the gap-up doesn't sustain then we can expect further consolidation for correction. On the other hand, if the market initially takes a pullback, the 23% Fibonacci level will act as crucial resistance. This means that after the pullback, if it rejects around the Fibonacci level of 23%, it will continue the range between the previous bottom and the recent high, and it may undergo correction. On the other hand, if it breaks or sustains (around fib 23%), then we can expect further continuation, and we can fix our next target at 38%. If we want to simplify it, this is a range market, so we can try range breakout entries."
NSE:BANKNIFTY
by Manickamtraders
#banknifty Directions and levels for April 16th."Good morning, friends! Here are the directions for April 16th: The global market trend is bearish, supported by the Dow Jones, while our local market sentiment also indicates a bearish trend. It might open with a gap-down start, as suggested by GiftNifty, showing a -220 point decrease. GiftNifty indicates a long gap-down, so I don't know where it will be opening. I'm just sharing Fibonacci levels. After the gap-down, if the market consolidates around any one of those levels, then we can expect further correction. On the other hand, if it rejects sharply, then we should seek additional confirmation for a reversal. If the pullback breaks the Fibonacci level of 38% in the minor swing, then we can consider it a reversal and set our targets at 61 and 78%. However, if it doesn't break the Fibonacci level of 38%, the correction may continue as usual."
NSE:BANKNIFTY
by Manickamtraders
15 Apr - BN 47465 has to be taken out for strong bearishness⬇️BankNifty Analysis - Stance Bearish⬇️ BN had a unique price action today, unlike N50 we did not see a bounce from the banks. And the lows made during the closing hours were much deeper than the opening lows. Whereas Nifty's opening low was not violated that much. Ideally, that is expected, the subsectors would fall further than the main index. I am revising the stance on BankNifty to bearish not because of technical reasons - but due to Nifty50's bearishness + worsening global macro. Ideally, BN will have to take out 47465 to go bearish, which I suppose may be done within the opening hours of tomorrow.
NSE:BANKNIFTYShort
by viswaram
BANKNIFTY Intraday Trade Setup For 16 Apr 2024BANKNIFTY Intraday Trade Setup For 16 Apr 2024 Sell_1- From 48260 Invalid-Above 48370 T- 48000 47750 Sell_2- Below 47700 Invalid-Above 47810 T- 47095 BANKNIFTY has closed on a complete bearish note with 1.63% cut today. We discussed in the weekend that index will be under bear's grip below 48400 (last week candle's low) as it was 2nd leg shooting star which I personally trade. But the funny thing is that it triggered with a big gap down. So one should wait for 48600 zone for taking the same into consideration. Tomorrow there is a possibility of a pullback of the down impulse. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes below 47700 then we will short for the target of 47095. In case 48260 is tested via gap up move then we will short from there. T- 48000 and 47750. 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
Bank NIFTY trading at support Bank Nifty is trading at support around 47750 zone. Considering the trading holiday on Wednesday 17/04/2024. BNF expiry will be tomorrow. BNF is now in a support zone of 47750 if broken we can expect a fall till the below two support zones Support 1 47750 Support 2 47400 If BNF moved in a uptrend, considering the globe cues take the trades cautiously as we can see more OI in call side. Resistance for uptrend Resistance 1 48100 Resistance 2 48250
NSE:BANKNIFTY
by Shree_Traders
3
Banknifty weekly expiry analysis for 16/04/24.The market has reacted to the war situation and has given a fall of around 800 points. Banknifty has taken support from the 20 ema on the daily charts and the support zone around 47740 level. Even on the hourly charts, the market is trading between both the moving averages and chances of taking support around 200 ema is there. Tomorrow is weekly expiry and there is chance of a trending expiry move in the market as last few expiry were side ways. Major support level :- 47750, 47400. The market is looking bearish and the closing is below 38.2% fib levels. 50% fib level can be tested and a support around the level can be seen. If there is a gap down opening, a recovery can be seen as many will be booking profits. Flat opening and a break down in the second half can keep the market trending. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
#Banknifty directions and levels for April 15th."Good morning, friends! Here are the directions for April 15th: The global market trend is bearish, supported by the Dow Jones, while our local market sentiment indicates a moderately bullish trend. It might open with a gap-down start, as suggested by GiftNifty, showing a -120 point decrease. I'm really sorry, I can't say exactly how the market will react today because of the geopolitical issue. However, this is my view today: if the market finds support around the immediate support level, then structurally we can expect a 23 to 38% pullback wave. If it has a three-wave structure, it's a better confirmation for correction. Even though after that pullback, if it rejects there (at 38%), then we can expect a correction that may reach once again the previous bottom. And if it breaks, then the correction will likely continue. On the other hand, if the pullback sustains and breaks the fib level 38%, it could consolidate between the previous high and recent low. The alternate view suggests that if the gap-down breaks or consolidates around the immediate support level, it might continue the correction further."
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY Intraday Trade Setup For 15 Apr 2024BANKNIFTY Intraday Trade Setup For 15 Apr 2024 Bullish- Above 49060 Invalid-Below 48950 T- 49650 Bearish-Below 48450 Invalid- Above 48560 T- 47890 BANKNIFTY has closed on a bearish note last week as it has closed at week low and formed a shooting star candle in weekly TF. I consider only 2nd leg shooting star to trade and last week candle is that. Below 48470 it will be activated but I will personally plan positional short in the pullback near 48850 so that our risk will be small 49080. This will be executed on a bearish reversal price structure in 5 Min TF or else we will buy above 49060. Next week looks bearish. 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 48450. T- 47890. 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 12 Apr 24As we discussed Banknifty, Banknifty opened a gap up and then ended sideways. If we look at the chart now: The market is trading at the resistance zone. It has successfully respected the 4H-TH resistance zone, and a significant sale was made in the last 30 minutes. Banknifty gave very nice bull momentum last week. The market needs to consolidate (or correct) at this point. RSI is also showing bearish divergence. If we look at the OI data: PCR = 1.08 (1.18 -> 1.08), which indicates Bears are increasing their position in the market. 49000 will be acting as Max-Pain. There is not much resistance on the upper side till 49500. the lower side's next best support is 48500. If we see FII & DII data , FII is strongly bullish on the future. Pros and Clients are Bearish on the future. Options data is indecisive, which shows that the market is likely to open sideways. I expect the market to be sideways or bearish. Reasons: Price >> EMA(200), that need to be corrected. EMA(13) slop is getting flat. Which indicates bulls are getting weak. RSI = 55 and having bearish divergence. Also, RSI is entering the 40-60 range, which might lead it to go sideways. BN is trading in the resistance zone. And Fib 1.414. PCR = 1.08, which has been falling from 1.34-> 1.18-> 1.08, which shows bears are increasing their positions in the market continuously. Verdict : Sideways or Bearish Plan of action : Sell 49000 CE and 48600 PE (Hedge it with 20/-)
NSE:BANKNIFTY
by finnova_
1
Banknifty prediction for tomorrow 10 Apr 24As we discussed in our last analysis, the market faced resistance from 49960. (Near Fib 1.414) If we look at the chart now: The market is trading at ATH. Also, the market is facing resistance in the resistance zone(1H-TF). The market is also showing a Bullish divergence that will force the market to be in the bull's favor. 49000 is a very strong level of resistance. So, the market is likely in the range of 48549-49000. All important levels are marked on the chart. If we look at the OI data: PCR = 1.18 shows bullish sentiments. There is huge CE unwinding at lower levels(48500, 48600) but normal CE writing at higher levels. 48800, 48900, and 49000 had good CE writing. Whereas 48500 is good PE writing. So, 48500 is going to provide good support, and the market is going to face multiple resistance at 48800, 48900, and 49000. If we look at the FII & DII data: FII is bullish; the Client is bearish. I am expecting a gap-up open and then fall from 48950. Reasons: PCR = 1.18 indicates a bullish structure. (Bullish) The market is trading in a resistance zone. There is a high probability that the market will take a pullback here till the Fib 0.38 level. (Bearish) Price >> 200EMA and 13EMA >> 200 EMA that might lead to a correction in the market. (Bearish) RSI is showing bullish divergence, which might force the market to be sideways. (Sideways) Price < VWAP means the market is in the bears' favor. Verdict : Sideways or Bearish Plan of action : Sell 49000 CE and Sell 48600 PE (Hedge with 20/- premium) Exit either side, and it breaks.
NSE:BANKNIFTY
by finnova_
4
09 Apr - BankNifty is structurally more Bullish than Nifty50BankNifty Analysis - Stance Bullish ⬆️ BankNifty does an inverted V pattern today due to which the Algos went negative. Was quite happy that the losses were contained in the end, but what I learned is that sharp rises & falls take out the stop losses at both ends. And what is the end result? We are treading nowhere. On the higher timeframe, BN looks more bullish than Nifty. Just like we discussed yesterday, only if we take a pause and retrace a few points - we can mark the higher high. Since the 11th is a holiday due to Ramadan, both Nifty and BankNifty will have the expiry tomorrow. --- Algo Trading The trades ended today with a loss of -18294. There is no way the Algos can defend a V or an inverted V shape. The best I could do was firefight the same manually, but I decided otherwise.
NSE:BANKNIFTYLong
by viswaram
#Banknifty directions and levels for April 9th.Banknifty didn't match the performance compared to the nifty. However, it also has some bullish sentiment, so if the gap-up sustains, we can expect a rally continuation with minor consolidation. The reversal will be considered only if it breaks the Fibonacci level 38%, while if it rejects the major resistance level. An alternate view indicates if the gap-up doesn't sustain or if it rejects around the immediate resistance level, then we can expect a minimum of 23 to 38% correction.
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY Intraday Trade Setup For 9 Apr 2024BANKNIFTY Intraday Trade Setup For 9 Apr 2024 Bullish-Above 48730 Invalid-Below 48620 T- 49135 Bearish-Below 48400 Invalid-Above 48510 T- 48070 BANKNIFTY has closed on a slight bullish note with 0.18% gain today. It has formed a spinning top candle which is once again neutral and indecisive sign. We will plan a short trade below 48420 however bears will try to grip below 48500. Incase this trade goes in flow and tomorrow's daily candle is bold bearish then a bearish trend may start in the coming days. 48070 will be our 1st target and support of the day. Above 48730 we will long. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 48730 then we will long for the target of 49135. For selling we need a 15 Min candle close below 48400. T- 48070. 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 directions and levels for April 8th.Banknifty has a solid bullish structure, so if the gap-up sustains, we can expect a minimum of 48796. It's a major resistance, so if the market reaches this level solidly, then the market may break this level with minor rejection. On the other hand, if it reaches this level with a minor pullback, then the market may retrace a minimum of 23 to 38%. Alternatively, if the gap-up doesn't sustain initially, we can expect minor consolidation. After that, if it breaks the previous high, then we can expect rally continuation. On the other hand, if it breaks the downside blue box, it may turn into correction.
NSE:BANKNIFTY
by Manickamtraders
2
BANKNIFTY Intraday Trade Setup For 8 Apr 2024BANKNIFTY Intraday Trade Setup For 8 Apr 2024 Bullish-Above 48570 Invalid-Below 48460 T- 49131 Bearish-Below 48200 Invalid-Below 48310 T- 47650 BANKNIFTY has closed on a bullish note with 2.9% gain today. Index is at striking distance to ATH and possibility of ATH breakout is high. Tomorrow will be an deciding day weather index gives a breakout of 48600 to establish a fresh uptrend. In case index opens flat/ gap down and will be unable to take out today's high, EOD makes a red candle then index will follow the same channel in daily TF. 48570 and 48200 are intraday levels to trade on breakout tomorrow. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 48570 then we will long for the target of 49131. For selling we need a 15 Min candle close below 48200. T- 47650. 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 Intraday Trade Setup For 5 Apr 2024BANKNIFTY Intraday Trade Setup For 5 Apr 2024 Bullish-Above 48260 Invalid- Below 48150 T- 48800 49150 Bearish-Below 47700 Invalid-Above 47810 T- 47350 46970 BANKNIFTY has closed on a positive note with 0.92% gain today. Both side moves were seen in today's session after a long time. We saw an increase in candle's size and which is due to Expiry and RBI Credit Policy tomorrow. Tomorrow there will be both side moves due to event. I will personally not trade tomorrow. 48800 and 47700 are major levels for tomorrow's session. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 48260 then we will long for the target of 48800 and 49150. For selling we need a 15 Min candle close below 47700. T- 47350 and 46970. 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 around ATH, trading levels for intraday 05/04/24.Banknifty has given a hammer candle around the higher levels after a gap up opening above 48k levels. The index came for profit booking after a good gap up and closed round 48k levels. Now the market is around the last resistance zone of 48300 and then there is the ATH. After a 3 day consolidation there was a gap up and it took the opportunity of making money in the up move. In case of another gap up, bullish trades on the retest can be made around 48300 levels . If there is a flat to slight gap down, bullish trades above 48250 can be created. Major Resistance levels :- 48250, 48530-590 The market has created highs after gap up openings. In the scenario too, it seems market will show some gap up if it wants to create new ATH. Support levels :- 47700, 47430 Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
BANKNIFTY Intraday Trade Setup For 4 Apr 2024BANKNIFTY Intraday Trade Setup For 4 Apr 2024 Bullish-Above 47720 Invalid-Below 47610 T- 48210-50 Bearish-Below 47350 Invalid-Above 47460 T- 46970 BANKNIFTY has closed on a slight bullish note with 0.17% gain today. It seems to be a strong bulls presence as it opened gap down due to global cues and then recovered and closed near day high. Above 47720 we can expect a strong bullish impulse towards 48250 zone. Best case bullish trade will be if index opens below 47700 and breaks 47720. It is a high probability trade. Below 47350 we will plan a short trade towards 47k zone, 47370 being intra support. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 47720 then we will long for the target of 48250. For selling we need a 15 min candle close below 47350. T- 46970. 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- 02 Apr - 47465 support defense crucial for UP moveBankNifty Analysis - Stance Bullish ⬆️ BankNifty defends the support of 47465 today also, much-needed confirmation to hold on to our bullish stance. The next leg of the rally should ideally come from the banking sector. But the biggest concern I have is that the actual torch bearer of the directional trend has shifted to NiftyIT from BankNifty. From Jan 2024, BN has been a laggard whereas NiftyIT did drive the Nifty50’s directions. The power struggle was quite obvious as Jan to March was pretty bad for most option traders. Neither the trend following nor the option selling strategies worked out. NiftyIT is currently in a reversing trend. If BankNifty starts to move up and IT moves down and if Nifty sides with IT rather than the banks then we are in for a big disappointment. Let us hope the Banks take back the control from IT, the rationale being it is the sector with the highest weightage. The trend is safer if the highest weighted sector drives the show. The first thing BN has to do is take out the ATH. We wish to start the day tomorrow with a bullish tone and then switch to a cautious mode if 47465 support is getting broken. Tomorrow being expiry, a 100+ quick points move could surge the options premium. As it stands the premiums are not suggesting any directional move. Algo Trading Our algo trades ended today with a gain of Rs31517, again I pulled the plug early to save the transaction costs and book 2/3rd of theoretical profits.
NSE:BANKNIFTYLong
by viswaram
#Banknifty directions and levels for April 2nd.Banknifty has also consolidated in the last session. If the market opens with a gap-down, then we can expect minor correction initially. After that, if it finds support around 23 or 38%, then we can expect consolidation for a rally continuation. On the other hand, if it breaks the fib level of 38%, then it may turn into a correction phase that will reach a minimum of 50 to 78%. Alternatively, if the gap-down doesn't sustain, then it could take a little bit of consolidation initially. After that, if it breaks the fib level of 78%, then we can expect further rally continuation.
NSE:BANKNIFTY
by Manickamtraders