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Bankniftyintradaylevels

BANKNIFTY Intraday Trade Setup For 05 Feb 2024BANKNIFTY Intraday Trade Setup For 05 Feb 2024 Sell_1- From 46550 Invalid-Above 46660 T- 46225 46000 Bearish-Below 45900 Invalid-Above 46010 T- 45360 44850 BANKNIFTY has closed on a bullish note last week with 2.46% gain. While it closed on a bearish note last day as 46600 is a resistance in daily TF. Breakout of the resistance will be said when a daily candle closes above 46600. Since it created a bearish sentiment last day it can be sell on rise opportunity in case it tests 46550 via gap up. 45300 will be an important intraday support zone as per 0.618 retracement in hourly TF. Coming to Monday's trade setup, if index opens flat and a 15 Min candle below 45900 then we will short for the target 45285-45300. In case it opens gap up then we will short from 46550. T- 46225 and 46000. 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 | 5th FebToday BankNifty opened with a gap-up around 46600 and after making a high around 46900, it gave a 1000 points fall from higher levels towards 45900 and closed at 45970. For Monday, BankNifty has to sustain above 46250 for further upside which can take BankNifty towards 46380 and upper marked levels. On the other side, if BankNifty breaks 45890 on downside, we expect to see 45780 and below marked levels on the chart. Expectations: Volatile day. Intraday Levels: Buy Above - 46250 Sell Below - 45890 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 prediction for tomorrow 05 FEB 24As we discussed, Banknifty touched Target 1 and then fell from there. Now, if we look at the charts , The market is making a rectangular pattern in an uptrend; now, it has broken to the downside. Also, we have 200 EMA support here. Banknifty is sitting in a make-and-break situation. It might take support, but if we look at RSI, bulls do not have strength. Also, the last 5 candles were intensely selling volume candles, which indicates the market will go bearish in upcoming sessions. OI data: PCR = 0.70 indicates the neutral behavior of the market. 46000 is the MaxPain. If it breaks to the downside, the next level of support is 45400. Also, on the upside, 46500 is a strong level of resistance. FII & DII data: FII is mildly bullish, whereas PRO seems to be mildly bearish, which gives neutral market behavior. I am expecting the market to go bearish in upcoming sessions: Reasons: The Market has broken to the downside of the Uptren rectangle pattern. (Bearish) The market is at 200 EMA, which might provide support. (Bullish Hope) (Neutral) 13EMA > Price ~= 200 EMA, which indicates market direction depends on price action on 200 EMA. RSI < 40, which shows the weak bulls sign in the market. (Bearish) Price < VWAP (Bearish) OI data PCR = 0.7 indicates neutral market behaviour. (Neutral) Verdict: Neutral (Mild Bearish) Plan of Action: Observe PA at 200 EMA. If the price is below the outside rectangle, go Bearish.
NSE:BANKNIFTY
by finnova_
3
01 Feb & 31 Jan ’24 - N50 might look at BankNifty for directionsBankNifty Analysis - Stance Neutral ➡️ BankNifty has made some interesting patterns on the 16mts TF. It looks like BN made quick surges to a specific price level and then cooled off softly. Much like a mini-flag pattern. BankNifty may be showing signs of going up if that is the case. We can only confirm if the next resistance of 47465 is broken - and if that happens tomorrow, then the game is set. 16mts chart The biggest issue is the kind of selling the banks had from the FII’s basket. That factor is still haunting BankNifty pretty badly. The depth of the RED candles proves that point. When we have selling of that sort, we would need a strong response from the domestic buyers to go up. Meanwhile, if the DIIs are stalling - we may see further price corrections from here. 63mts chart BankNifty is the go-to leader for directional trends, it should hold good in the current situation also. First, the BN has to move clearly in a direction, most likely Nifty will follow. BN still holds 38% of the weight on Nifty. For tomorrow we would like to start with a neutral stance and then adapt if Banks show some traction.
NSE:BANKNIFTY
by viswaram
BANKNIFTY Intraday Trade Setup For 02 Feb 2024BANKNIFTY Intraday Trade Setup For 02 Feb 2024 Bullish-Above 46320 Invalid-Below 46210 T- 46826 47315 Bearish-Below 45650 Invalid-Above 45760 T- 45050 44390 BANKNIFTY has closed on a on bullish note with 0.42% gain. It was sideways to bullish, complete sideways after 12 PM. Premiums crashed like anything due to VIX crashing nearly 10%. No big moves seen on event day. It has closed near day high so above 46320 tomorrow there can be good upside move till 46826 as per ABCD plotted. In case it breaks 45650 is broken then there can be good selling. Coming to Friday's trade setup, if index opens flat and a 15 Min candle close above 46320 then we will long for the target of 46826 and 47315. For selling we need a 15 Min candle close below 45650. T- 45045 and 44390. 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
1
BANKNIFTY Intraday Trade Setup For 01 Feb 2024BANKNIFTY Intraday Trade Setup For 01 Feb 2024 Bullish-Above 46180 Invalid-Below 46070 T- 47250 48182 Bearish-Below 45070 Invalid-Above 45180 T- 44000 BANKNIFTY has closed on a positive note with a 1.39% gain today. It opened flat and tested the sell level which was range low. It took support and buy triggered later above 45680 and hit 1st target very smoothly (45680-46179). Its a big event tomorrow and moves will be random and will be decided by announcement made by FM. I will personally avoid trading tomorrow and will suggest either not trade with very small position size. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 46180 then we will long for the target of 47250 and 48182. For selling we need a 15 Min candle close below 45070. T- 44000. 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 Budget Special predication for tomorrow 1 FEB 24As we discussed, Banknifty's bullish nature today broke from a minor consolidation region. It gave a good breakout and moved to 200 EMA, which we discussed will be resisting the market. Now Looking at the chart: The market is trading at 200 EMA. The market is already in the breakout phase. Also, today afternoon, it has consolidated so that it can make a move for tomorrow's budget day. OI data: looking at the PCR = 1.04 shows a clearly bullish signal for the market. Also, 46000 shows lots of CE and PE writing, which makes it MAXPAIN. Once either side is clear, the market is going to shoot, probably the upper side. PROs and FIIs have shorted the market with heavy quantity which might force it to open downside. I am expecting the market to go bullish tomorrow Reasons The market is in the Breakout phase. Price > EMAs trading near 200 EMA already consolated today. Now, it seems ready to shoot to the upside. OI data PCR = 1.04 shows Bullish sentiments for the market direction. As it's budget day and elections are nearby, the budget has to be good to turn election sentiments to this government side, which might impact some sectors negatively and also some in a positive way. The market can go really wild. So, Play carefully and protect your capital. PRO and FII have been showing negative signals as they have been shorted the market heavily, which might force the market to open downside. And then go bullish. Verdict: Bullish Plan of action: Wait for 15 min candle. Let the trend be confirmed, then make a position. Protect your profits. The market can turn anytime and will be driven by budget sentiments .
NSE:BANKNIFTYLong
by finnova_
2
#Banknifty levels for 2024 union budget."Good evening, friends. Tomorrow, we have a big event: the Union Budget for 2024. It's a significant event, and the market will mostly move based on the sentiment surrounding that event, with less probability for technical analysis. So, I'm just sharing my Fibonacci levels on the one-hour chart. If you want, feel free to use it. And if you'd like to trade on this day, then only spend a partial amount of your capital because the market will provide plenty of opportunities in the upcoming days. All the best."
NSE:BANKNIFTY
by Manickamtraders
4
Budget move in Banknifty (01/02/24).Banknifty has given a nice up move in the first half and consolidated on the expiry for the rest day. It is facing rejection from a trend line and a resistance zone of 46150. If there is a break out after a flat or gap down opening, it can test the round number figure quickly. In case of a gap up opening, let market retest the break out levels or form a price action near the zone. Then only trade should be initiated as the option premiums will remain high. Tomorrow is budget which will create more volatility in the markets. India VIX is trading above 16. Major Resistance levels :- 46150, 46500, 46920 The market may both side as the previous budget made it move 2500 from high to low. Today's consolidation near the high shows some positivity in the market. Support levels :- 45950, 45490-550 Option premiums will move quickly so keep the target and stop losses strict. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
BankNifty Intraday Trade Setup | 30th Jan '24Today BankNifty opened with a gap-up around 45171 and gave a good rally in first half upto 45660, however, we saw selling from upper levels and BankNifty closed around 45400. For today, BankNifty has to sustain above 45600 for further upside which can take BankNifty towards 45720 and upper levels. On the other side, if BankNifty breaks 45100 on downside, we expect to see 44980 and below marked levels on the chart. Expectations: Volatile day. Intraday Levels: Buy Above - 45940 Sell Below - 45500 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 31 Jan 2024BANKNIFTY Intraday Trade Setup For 31 Jan 2024 Bullish-Above 45680 Invalid-Above 45570 T- 46155 46650 Bearish-below 45200 Invalid-Above 45310 T- 44690 44250 BANKNIFTY has closed on a slight bearish note with 0.16% cut. It was complete sideways market within previous day's range. Nothing triggered as per trade setup. It has formed a spinning top candle in daily TF which can trigger a good down move below 45200. Below 45200 it may test hourly support zone 44400. Also it has formed a range between 45700 and 45200. So above 45700 then can be a good up move. Probability of a down side trigger looks high. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 45680 then we will long for the target of 4615 and 46650. For selling we need a 15 Min candle close below 45200. T- 444690 and 44250. 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 weekly analysis for 29/01/24.Banknifty has closed below the weekly 20 ema and looks bearish as the golden ratio is also breached. The previous trading session has formed a bullish hammer but still is trading below the previous day high. Bullish swing/intrady should be created above 46200 levels. It has taken support from 20DEMA. Major support levels :- 44480, 44290 No trading zone is market between 44480-45130 due to the volatility in the market. Resistance levels :- 45130, 45470, 46160 Markets will be opening after a long weekend and chance are there of a gap up/down opening. Trailing stop loss can help capturing the trend. This is a budget week and option premiums will be high. Enter a confirm setup and aviod entering the between the trend. Watch price action near the levels before entering the trade.
NSE:BANKNIFTY
by TheMamboMomentum
1
BANKNIFTY Intraday Trade Setup For 30 Jan 2024BANKNIFTY Intraday Trade Setup For 30 Jan 2024 Bullish-Above 45680 Invalid-Below 45570 T- 46155 46650 Bearish-Below 45110 Invalid-Above 45220 T- 44450 43845 BANKNIFTY has closed on a bullish note with 1.28% gain today. In the weekend we discussed that index has formed a base near 44400 zone and there is a high possibility of extending bounce above 45150. Today buy triggered above 45150 and gave a move till 45660. now next leg of rally towards 46600 zone will be triggered above 45680 or else there is chance of slip too. 45110 is the level for a downside trigger. Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 45680 then we will long for the target of 46155 and 46640. For selling we need a 15 min candle close below 45110. T- 44450 and 43850. 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 - 30/01/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 30/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 45368 – 45400 Important Support and Resistance for the Day... Support - Resistance - Support-1: 45400 Resistance-1: 45525 Support-2: 45265 Resistance-2: 45660 Support-3: 45110 Resistance-3: 45770 Support-4: 44920 Resistance-4: 45935 ____________________________________________ Happy Learning and Trading – TST5121 Rules to fallow... 1) Trade with Strict Stop Loss. 2) Trade with Small Quantity. 3) Take entries based on Support & Resistance Levels. Please take the trade according to the levels marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries after your own analysis. This is for education purpose and a helping hand to learn trading in market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level. I hope you all like my analysis. Follow me to get regular updates. Please do share your thoughts in comment section. Please Hit a LIKE, it motivates me to do analysis and do share with your trading friends. SHORT FORM &FULL FORM 0.5 -> 0.5% Swing PDH -> Previous Day High PDL -> Previous Day Low PDC -> Previous Day Close PDO -> Previous Day Open PWH -> Previous Week High PWO -> Previous Week Open PWC -> Previous Week Close PWL -> Previous Week Low D_S -> Day Support D_R -> Day Resistance W_S -> Week Support W_R -> Week Resistance W_O -> Week Open W_C -> Week Close LW_O -> Last Week Open LW_C -> Last Week Close IMP -> Important R@1, R@2, R@3... -> Resistance-Zones S@1, S@2, S@3... -> Support-Zones MS -> Major Support SH -> Swing-High SL -> Swing-Low DT -> Double Top DB -> Double Bottom TT -> Triple Top TB -> Triple Bottom TF -> Time Frame BO -> Break-Out RR -> Risk-Reward SL -> Stop-Loss GAP -> The area b/w Previous Day Close and Today Open Blue Color Text (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals)
NSE:BANKNIFTY
by SriTrader5121
Banknifty prediction for tomorrow 30 JAN 24As we discussed, Banknifty it has given a breakout today. By looking at the chart has given a breakout for the falling wedge pattern, which indicates the Market is going to get bullish in upcoming sessions. By looking at the Oi data, PCR = 0.86, which is bullish. Also, the budget is about to be announced on the 1st FEB., which needs to be good as the election is near. The whole Market is showing a positive sentiment. I am expecting Market to go bullish as of now Reasons: Price > EMAs, which indicates a bullish signal. (Bullish) RSI > 60, which shows bulls are in the control of the Market now. (Bullish) PCR = 0.86 shows bulls are more prominent in the Market. 45500 seems to be the MAX Pain. Once this level is clear, the Market is expected to go higher. (Bullish) The Market has given a breakout for the Falling wedge pattern, which is a clear sign of bullishness. (Bullish) 46300 seems to be a crucial level of resistance as it's also conceding with 200 EMA, which is probable to give some résistance. (Target Resistance) Verdict: Bullish Plan of action: SELL 45400 PE (hedge is with Buy 30rs PE)
NSE:BANKNIFTYLong
by finnova_
BankNifty prediction for tomorrow 29 JAN 24As we discussed, NIFTY is to be "SIDEWAYS in the range 44600 - 45481" in our last analysis. It resulted in a sideways while facing good resistance on 50-EMA. Now, if we look into the Chart data, EMA(50) is providing nice resistance. Also, 44500 is Hard SUPPORT, and 45370 is Hard RESISTANCE, resulting in a zonal movement. Also, the market is making a falling wedge pattern, which is bullish. while OI data PCR= 0.68 shows bearishness while PCR=0.90(next week expiry) shows bullishness. means people are expecting a good budget decision announcement on 1st FEB. As people are waiting for a budget day, I am expecting the market to be sideways till 1 FEB in the given Zone unless we get a breakout. Reasons: Market is making falling wedge pattern which is bullish. Price < EMAs, which shows bearish market structure. RSI ~ 40-60, which shows sideways market momentum. EMA 50 and 200 will be acting as resistance. An upper resistance trendline will provide good resistance. OI data PCR = 0.69 shows Bearish wherelse PCR = 0.90 shows bullish sign in upcoming week. Verdict: Sideways unless it gets breakout. Plan of Action: Sell 44500 PE and 45400 CE (hedge it with 35rs premium)
NSE:BANKNIFTY
by finnova_
2
BANKNIFTY Intraday Trade Setup For 29 Jan 2024BANKNIFTY Intraday Trade Setup For 29 Jan 2024 Bullish-Above 45150 Invalid-Below 45040 T- 45780 46350 Bearish-Below 44400 Invalid-Above 44510 T- 43845 46220 BANKNIFTY has closed on a bearish note with 2.59% cut last week. After a good down move from ATH it has came down till a confluence level of gap area. 44400 is a base zone and and we have seen 2 bounces from this support zone. Now this bounce may be extended till further higher levels , near 44400. It has formed a Pinbar candle in daily TF so above 45150 this move towards 46400 zone can be triggered. But below 44400 this will continue the downtrend. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 45150 then we will long for the target of 45780 and 46350. For selling we need a 15 Min candle close below 44400. T- 43845 and 43221. 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
NIFTY prediction for tomorrow 25 JAN 24As we discussed, NIFTY has a "Bearish structure," but at the price action level of 21200, it took support and recovered really well. It gave a double bottom breakout and also reached level 21500, which is a resistance zone for now. If it enters into the zone marked in blue, it's going to be sideways. Also, 200 ema is going to act as a resistance point inside the blue zone. If we look at the OI data, PCR = 0.82, which leans towards a bullish market structure. Meanwhile, Banknifty PCR = 0.59 is bearish as both are not aligned. So tomorrow, I am expecting the market to be sideways in the blue zone and high volatility in the lower zone. All important levels have been marked on the chart. Reasons: Price 200 EMA, which will also act as resistance in the upward direction. RSI ~ 40-60, which indicates the sideways market structure. Price > EMA(13) is also sitting at 50 EMA, which will be acting as resistance. OI data PCR = 0.82 shows bullish signal. (Bullish) Verdict: SIdeways Plan of action: Wait for 15 min candle. Make position according to PA levels marked on charts.
NSE:NIFTY
by finnova_
BankNIFTY prediction for tomorrow 25 JAN 24As we have been discussing, BN is bearish; it took support from the marked zone and then recovered but again fell in 2nd half session today. If we look at chart data right now, the 44600 level showed nice support twice today with a nice volume. As the market is still making LL and LH, it represents a bearish market structure. I am expecting it to come again to 44600 and then bullishness in the market. Also, OI data PCR confirms the bearishness in the market with a PCR value of 0.59 ( BEARISH ). FII ad Pro clients data indicates the market to be getting bullish. I am expecting the market to be sideways in the range of 44600 - 45481. both levels are going to provide nice support and resistance. Reasons: Price < EMAs shows bearishness in the market. RSI 40-60 shows the sideways momentum along with the bulls' weak power. OI data PCR = 0.59 indicates a bearish signal in the market. Vwap is still high value. Price << VWAP indicated market price has to settle. It's not going to make a huge bearish move in the market. Verdict: SIDEWAYS in the range 44600 - 45481. Plan of action: look for 15-min candle and make a bound position in 44600-45481. I will update the idea once a market trend is set.
NSE:BANKNIFTY
by finnova_
24 Jan ’24 — BN still looks bearish to me, will it go neutral?BankNifty Analysis - Stance Bearish ⬇️ The stance of BankNifty continues to be bearish as it was nothing like the Nifty today. The major reason is the rejection of resistance at 45399. After opening near the support level of 44542, BN made a quick surge to the resistance of 45399 by 09.59. The rejection came by 10.43 and that RED candle spoke for itself. 4mts chart We started falling and BN went underwater again by 11.27. Interestingly BN made a W pattern on the 4mts chart today - but it means nothing if the resistance is not taken out. 63mts chart The first candle steals all the show today - its low right at the support of 44542, its high right at the resistance of 45399. Nifty will not be that strong in the upward direction until BN joins it. Right now N50 is neutral and BN is bearish. To lose bearishness, BN has to take out the resistance and close near 46151. Since both BN and N50 have expiry tomorrow, it will be an option sellers day as the premiums will be juicy enough.
NSE:BANKNIFTYShort
by viswaram
Bank Nifty - 25/01/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 25/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 44888 – 44916 Important Support and Resistance for the Day... Support - Resistance - Support-1: 45075 Resistance-1: 45304 Support-2: 44680 Resistance-2: 45484 Support-3: 44550 Resistance-3: 45768 Support-4: 44410 Resistance-4: 46000 ____________________________________________ Happy Learning and Trading – TST5121 Rules to fallow... 1) Trade with Strict Stop Loss. 2) Trade with Small Quantity. 3) Take entries based on Support & Resistance Levels. Please take the trade according to the levels marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries after your own analysis. This is for education purpose and a helping hand to learn trading in market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level. I hope you all like my analysis. Follow me to get regular updates. Please do share your thoughts in comment section. Please Hit a LIKE, it motivates me to do analysis and do share with your trading friends. SHORT FORM &FULL FORM 0.5 -> 0.5% Swing PDH -> Previous Day High PDL -> Previous Day Low PDC -> Previous Day Close PDO -> Previous Day Open PWH -> Previous Week High PWO -> Previous Week Open PWC -> Previous Week Close PWL -> Previous Week Low D_S -> Day Support D_R -> Day Resistance W_S -> Week Support W_R -> Week Resistance W_O -> Week Open W_C -> Week Close LW_O -> Last Week Open LW_C -> Last Week Close IMP -> Important R@1, R@2, R@3... -> Resistance-Zones S@1, S@2, S@3... -> Support-Zones MS -> Major Support SH -> Swing-High SL -> Swing-Low DT -> Double Top DB -> Double Bottom TT -> Triple Top TB -> Triple Bottom TF -> Time Frame BO -> Break-Out RR -> Risk-Reward SL -> Stop-Loss GAP -> The area b/w Previous Day Close and Today Open Blue Color Text (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals)
NSE:BANKNIFTY
by SriTrader5121