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Bankniftyintradaylevels

27 Feb ’24 — Banks are still neutral, but in the Bearish ChannelBankNifty Analysis - Stance Neutral ➡️ BankNifty is still managing to stay below the bearish trend top line and that means we are in the bearish channel as of now. You might wonder if we are in the bearish channel - why is our stance still neutral? The answer is that, even though we have entered the bearish channel, BN has not shown any signs of breakdown. We are still knocking the resistance level and trying to keep up with Nift50’s direction. 4mts chart Over the last 2 months, most of my directional bets have gone awkwardly wrong. On investigation, I came to know that it is because of NiftyIT. The level of uncertainty and the swing range of IT stocks are really taking a toll on the stability of Nifty50. Either we need to have FnO enabled on NiftyIT so that we can hedge and tide over the problems it is causing or the Banks have to take charge and cast them out. 63mts chart On the higher timeframe, BN is still following the double-top pattern with the trades being conducted in the bearish channel. To go bullish, BN has to reclaim the 47465 resistance whereas to go bearish all it has to do is just fall another 650 to 700 points. We wish to look out of neutral trades till the directional clues emerge. Algo Trading Our algo trades ended today with a gain of 17460. We closed the trades prematurely as 85% of the day’s target was hit within 11.29 and did not want to risk the lead.
NSE:BANKNIFTY
by viswaram
BANKNIFTY Intraday Trade Setup For 28 Feb 2024BANKNIFTY Intraday Trade Setup For 28 Feb 2024 Bullish- Above 46740 Invalid-Below 46630 T- 47250 47830 Bearish-Below 46310 Invalid-Above 46420 T- 45800 45310 BANKNIFTY has closed on an absolute flat note today. The neck-point of the breakout in daily TF is 46300 which was defended today. The plotted trendline breakout will lead index to a higher high formation. Above 46730 there will be a good upside move. Below 46300 index will give a sharp fall towards 45550 zone. High probability trade looks in the upside as is on verge of breakout of the falling parallel channel. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 46730 then we will long for the target of 47250 and 47830. For selling we need a 15 Min candle close below 46310. T- 45800 and 45310. 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 levels for weekly expiry 21/02/24.Finally, Banknifty is trading above 47k levels and a bullish trend may start in the index. After closing in a range and forming doji candles, there is a bullish marubozu candle on the daily close. The bullish move can sustain as it consolidate before crossing the levels. Tomorrow, if there is a gap up opening around 47200-300, there are high chance of market touching 47500 levels. In case of a gap down, there are chance of another buying happening in 46800-950 zone. Major support level :- 46980, 46720. Resistance levels are far and another bullish candle can be seen in daily charts. Resistance levels :- 47200, 47540. Watch the market opening and trade the setup. Let market form a price action and enter only bullish trade as bearish trades can hit the SL.
NSE:BANKNIFTYLong
by Mambotrade
10
#Banknifty directions and levels for FEB 27thBanknifty has undergone consolidation in the last session. If today's gap-up sustains, then we can expect 47089, which is a triangle resistance level (78%). If it rejects there, then the range market will continue for another one or two days. Alternatively, if it breaks, then we can expect a rally continuation in the upcoming trading session. Alternatively, if the gap-up doesn't sustain and breaks the previous day's low, then we can expect a correction that will reach a minimum of the demand zone at 46320. After that, if it finds support there, then we can expect a minor pullback. However, if it breaks that level, then the correction will likely continue.
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY Intraday Trade Setup For 27 Feb 2024BANKNIFTY Intraday Trade Setup For 27 Feb 2024 Bullish-Above 46900 Invalid-Below 46790 T- 47425 48025 Bearish-Below 46500 Invalid-Above 46610 T- 45990 45470 BANKNIFTY has closed on a bearish note with 0.5% cut today. Sell triggered as per trade setup below 46720 and gave a move till 46520, however targets were pending. Looking at last 3 daily candles if index makes the 4rth candle a green then only possibility of a bullish move is there. 46900 and 46500 are important intraday levels for tomorrow's session. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 46900 then we will long for the target of 47425 and 48025. For selling we need a 15 Min candle close below 46500. T- 45990 and 45470. 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 | 26th FebToday BankNifty opened with a gap-up above physiological level of 47000 but faced resistance at 47200 - 47250 zone and we saw selling towards 46850 zone and after that BankNifty was trading in a small zone for entire day. For tomorrow, BankNifty has to sustain above 47160 for further upside which can take BankNifty towards 47270 and upper marked levels. On the other side, if BankNifty breaks 46750 on downside, we expect to see 46630 and below marked levels on the chart. Expectations: Volatile day. Intraday Levels: Buy Above - 47160 Sell Below - 46750 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
1
BANKNIFTY Intraday Trade Setup For 26 Feb 2024BANKNIFTY Intraday Trade Setup For 26 Feb 2024 Bullish-Above 47260 Invalid-Below 47150 T- 47850 48420 Bearish-Below 46710 Invalid-Above 46820 T- 46165 45640 BANKNIFTY has closed with a very slight gain of 0.92% gain last week. Index gave a breakout of 46600 in daily TF on 20 Feb which will be still valid till 46300 is safe. However 46400 is the last swing low so below this we will get an early sign of reversal. The plotted trendline has been valid since 21 Feb, it was respected even on Friday. Now on breakout of this trendline index will give a bullish move, confirmation above 47250. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 47260 then we will long for the target of 47850 and 48420. For selling we need a 15 Min candle close below 46710. T- 46165 and 45640. 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 FEB 23Banknifty also has the same sentiment, but there is no solid pullback. However, if the gap-up sustains and breaks the Fibonacci level of 78% (47160), then we can expect further continuation. The alternate view is the same as with Nifty. If it rejects sharply around the 78% or if the gap-up doesn't sustain, then initially, we can expect a 23 to 38% Fibonacci correction. After that, if it finds support there, it may form a range for pullback continuation. However, if it breaks the Fibonacci level of 38%, then the correction may continue, and we can expect the Fibonacci level of 78% to the swing low."
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY Intraday Trade Setup For 23 Feb 2024BANKNIFTY Intraday Trade Setup For 23 Feb 2024 Bullish-Above 47040 Invalid-Below 46930 T- 47690 48315 Bearish-Below 46350 Invalid-Above 46460 T- 45640 BANKNIFTY has closed with a slight cut of 0.21% today. Sell triggered as per trades setup below 46870 and gave a good move till 46430 there a sharp reversal came in the afternoon session. It has formed a Pin bar candle which caters a bullish sentiment which is followed by the daily TF current. Index has given a bullish breakout above 46600 and now we can expect a good upside momentum towards ATH. Best trade is in upside on a flat opening above today's high. 46350 is an intraday support. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 47040 then we will long for the target of 47690 and 48315. For selling we need a 15 Min candle close below 46350. T- 45640. 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
Banknifty analysis for tomorrow 23 FebAs we have been discussing, Banknifty has had a double-bottom structure for the past week. It has been consolidating at the neckline. Now, if we look at the chart data: The market is trading at the resistance area. Where the 4h-TF trendline is providing resistance. Also, 47323 is our price action resistance. 46426 is our recent price action support, which is also confirmed support by 200 EMA. If we look at OI data: PCR = 0.99, which indicates bullish market sentiments. FII data shows indecisiveness. 47000 is acting as MAXPAIN. On the above side, 47500 will be nice resistance, whereas 46500 will provide a good support zone in upcoming sessions. I expect the market to be sideways in the range of 46500-47350. above 47350, the market will be bullish. Reasons: Price > EMAs, which indicates bullish market sentiments. RSI ~ 55. If it crosses 60 to the upside, It will be bullish. In a range of 40-60, the market will be sideways. Volume analysis for today's activity shows a neutral behavior. Pcr = 0.99 shows the market is bullish. FII and DII data are mostly indecisive. Verdict: Sideways or Bullish Plan of action: Case 1: Range selling in the range 46500-47350. Case 2: go bullish above 47350.
NSE:BANKNIFTYLong
by finnova_
FASP levels for Bank Nifty 23/02/2024The FASP for BankNifty is listed for 23-02-2024. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTY
by SathishChandrasekaran
1
#Banknifty directions and level for FEB 22Banknifty structurally differs a little from Nifty, but here also, we can expect a ranging market initially if the gap-up sustains. We can expect a rally continuation only if it breaks the previous high. On the other hand, if the gap-up doesn't sustain, then we can expect a minor correction here also. After that, if it finds support around the demand zone, the ranging market might continue. However, if it consolidates or breaks the demand zone solidly, then the correction will continue further.
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY Intraday Trade Setup For 22 Feb 2024BANKNIFTY Intraday Trade Setup For 22 Feb 2024 Bullish-Above 47380 Invalid-Below 47270 T- 47865 48425 Bearish-Below 46870 Invalid-Above 46980 T- 46230 45640 BANKNIFTY has closed on a very slight bearish note with 0.16% cut today. Buy triggered as per trade setup above 47150 which hit sl. It was a roller coaster ride whole day. It was a Open = High day so tomorrow below today's low there can be another slide towards 46230. 46230 is a PRZ and can act as a very strong intraday support. Above today's high high will be simple bullish view with a strong momentum followed by the daily TF trend. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 47380 then we will long for the target of 47865 and 48425. For selling we need a 15 Min candle close below 46870. T- 46230 and 45640. 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 Expiry Day Analysis - 21st Feb BankNifty ExpiryI have a bullish Bias in Bank Nifty for today's expiry and expect a pullback and a further move up into the 48000 We have been below this 48K level since that HDFC fall We also have a huge gap which is yet to be filled So today and the next two days are a great opportunity to fill those gaps I use ICT concepts to trade and my analysis is also based on that as well. I look into OI data as an additional confluence for Indian Indices as I trade options. We have an immediate resistance around 47200-300 levels If broken we can see a move up to 47500-47800-48000 respectively (obviously not all on the same day) Everything may go south if the 46700 levels are broken then we bleed! Happy trading! All praise to God!
NSE:BANKNIFTYLong
by Mellow-Trader
BANKNIFTY Intraday Trade Setup For 21 Feb 2024BANKNIFTY Intraday Trade Setup For 21 Feb 2024 Bullish-Above 47150 Invalid-Below 47040 T- 47640 48130 Bearish-Below 46780 Invalid-Above 46890 T- 46245 45640 BANKNIFTY has closed on a bullish note with 1.2% gain today. Since this weekend we have been discussing about 46600 breakout in daily TF, chart was also shared in the weekend. Today breakout happened finally. Yesterday we discussed that above 46720 there can be a good up move. So has happened, gave a move till 47130. Tomorrow once again we can expect continuation of today's daily TF breakout. 46300 will be Sl for this bullish breakout trade if considered. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 47150 then we will long for the target of 47640 and 48130. For selling we need a 15 Min candle close below 46780. T- 46245 and 45640. 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 21 Feb 24As we have been discussing, Banknifty double bottom pattern nature in a couple of days. Today, it has broken successfully to the upside. Now, if we look at the chart data: The market has broken the double bottom neckline to the upside. There is a higher chance for the market to go upside down. The market path for now is clear till 47500. There is a resistance trendline at 47500, which might hold the market for a bit. If we look at OI data: PCR = 1.55 indicates the market's super bullishness. There is only a little CE writing at higher levels till 47500. The market is now in bulls control. 47000 is MAXPAIN. Once the market momentum starts, it will go directly to 47500. I expect the market to go bullish till the resistance trendline. Reasons: Price> EMAs show the market is having bullish sentiments. RSI > 60 shows the market is in a bullish region. Price> VWAP shows the market is bullish and has a balanced Price with volume. OI data PCR = 1.55 shows the market is in full bull's control right now. Also, 47500 will be providing the next resistance in the market, which is also the resistance trendline. Verdict: Bullish Plan of action: Sell 47100 PE (hedge it with a 30 rs premium)
NSE:BANKNIFTYLong
by finnova_
BANKNIFTY Intraday Trade Setup For 20 Feb 2024BANKNIFTY Intraday Trade Setup For 20 Feb 2024 Bullish-Above 46720 Invalid-Below 46610 T- 47270 47760 Bearish-Below 46300 Invalid-Above 46410 T- 45700 45190 BANKNIFTY has closed with a slight gain of 0.32% gain today. Nothing triggered as per trade setup and traded between 46700 and 46300 the whole day. It tested the our daily breakout level 46600 but once again did not close above that. It has formed a spinning top candle which again caters a indecisiveness at the resistance breakout level. Tomorrow above 46720 there can be good intraday up move. Below 46300 there can be down move but strict in trailing. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 46720 then we will long for the target of 47270. For selling we need a 15 Min candle close below 46300. T- 45700 and 45190. 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
Banknifty weekly analysis for 19/02/24.Banknifty has formed a nice bullish candle on the weekly charts and closed 750 points higher. The market remained in a range for a while and gave a nice break out during the previous week. In the last trading session market tried to clear the resistance levels of 46600 but couldn't clear the same and closed around 46400 levels. Major resistance levels :- 46580, 46980-47100. If there is a gap up opening, the market will look to test 47k levels and further test 47550. On the bearish side the market can test the lower levels of 46k and 45700. Anything below 45700 may seem to be a bearish move. Major support levels :- 46040, 45700 Wait for the price action and buy on dip is the current market cycle. Nifty is trading around the ATH while banknifty is trading short of 2000 points. It can be seen getting close to the ATH in the coming week.
NSE:BANKNIFTY
by Mambotrade