BNF is trading near the one hour timeframe support of 46600. As mentioned in my previous analysis, BNF took the support of 46600 zone and reversed. If BNF sustains below 46600 we can expect a further fall till its immediate support. If BNF moves upward we will have a immediate resistance of 47750. Below are the resistance levels to watch Resistance 1 47750 ...
As we discussed, Banknifty has been falling for the last four sessions. If we look at the charts: The market is reaching near the support trendline, which is going to provide a potential support zone for Banknifty. if we look at the OI: PCR = 0.67 shows the market is in a bearish phase. 47000 is going to provide a good support zone as it has good PE...
"Good morning, friends! Here are the directions for April 19th: 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 -350 point decrease. GiftNifty indicates a long gap-down, so I don't know where it will be open....
BNF is trading near the 1hour timeframe support of 47000. As mentioned in my previous analysis, once the ascending channel pattern was broken in 1 day time frame BNF took the support of 47000 zone and reversed. Still BNF is trading between zones of 47000 & 47400. It is to be noted that BNF has fall 2000 points from its ATH in this week. If BNF moves upward...
"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...
I am posting banknifty swing zone and levels Currently banknifty is at major supply zone bounce can here is possible with all the upside resistances which I have marked in the chart...
"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...
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...
BANKNIFTY 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...
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 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...
"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...
BANKNIFTY 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...
As 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...
BankNifty had a solid pullback in the last session. But it may open with a gap down. After that, if it finds support around the Fibonacci level 38% (48465 to 48378), then we can expect a range market that may experience a minimum of 38% to 61% pullback wave. On the other hand, if it doesn't sustain or undergoes minor consolidation around the Fibonacci level 38%,...
As 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...
Banknifty also has the same structural sentiment; it has closed at the Fibonacci level of 23%. If the market opens with a gap-up and sustains it, then we can expect the rally to continue with minor consolidations. In that case, we can expect a minimum range of 49,021 to 49,183. Alternatively, if the gap-up doesn't sustain, we can expect the Fibonacci level of 38%...
BankNifty 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...