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Bankniftyintradaylevels

BankNifty Intraday Support & Resistance Levels for 25.07.2024On Wednesday, BankNifty took support at the 15m demand zone mentioned in the last post (linked in "Related Ideas" below) and bounced to 51512 before closing at 51317, losing 461 points. BankNifty broke the demand zone mentioned previously, and the nearest major support seen on the chart is at 50253, where there is a weekly support zone. The weekly trend (50 SMA) remains positive, but the daily trend (50 SMA) is now sideways. Support Levels: Major Demand/Support Zone (Weekly): 49530 - 50253 Resistance Levels: Near Supply/Resistance Zone (30m): 52559 - 52783 Far Supply/Resistance Zone (30m): 53064 - 53188 Major Supply/Resistance Zone (75m) for weekly trade: 52880 - 53187 Note: While writing this, GIFTNIFTY is showing 220+ points negative, indicating a potential gap down opening.
NSE:BANKNIFTY
by PriteshPalan
#Banknifty directions and levels for July 24th.Bank Nifty: Bank Nifty also has a range-bound structure, so the next movement is expected only if it breaks out of the range. Until then, it may continue within the current range. Due to the market closing within the range, precise levels are difficult to determine. However, if it breaks 52,502, it may continue the correction to a minimum of 51,325 to 51,186. Alternatively, if the gap-down doesn’t sustain and finds support around 51,502, then structurally it may continue within the range, with an expected upside to a minimum of 52,086 and up to the 61% Fibonacci level. Note: If the market opens with a gap-up and breaks the minor swing high, the rally will continue. The upside levels remain the same
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 24.07.2024On Tuesday, during a highly volatile budget session trading day, BankNifty opened gap up inside the 15m supply zone mentioned in the last post and fell 1200 points, making a day low of 51342.65. It re-entered the Daily Demand zone but did not break the bottom of the zone, closing inside with a 502-point drop at 51178.30. The weekly trend (50 SMA) remains positive, but the daily trend (50 SMA) is now sideways. Support Levels: Near Demand/Support Zone (Daily): 51138 - 51934 Minor Demand/Support Zone (15m): 50597 - 50825 Major Demand/Support Zone (Weekly): 49530 - 50253 Resistance Levels: Near Supply/Resistance Zone (30m): 52559 - 52783 Far Supply/Resistance Zone (30m): 53064 - 53188 Major Supply/Resistance Zone (75m) for weekly trade: 52880 - 53187
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY Intraday Trade Setup For 23 Jul 2024BANKNIFTY Intraday Trade Setup For 23 Jul 2024 Bullish-Above 52450 Invalid-Below 52340 T- 53605 Bearish-Below 51850 Invalid-Above 51960 T- 50980 BANKNIFTY has closed on an absolute flat note today. It opened with a slight gap down and then regained yesterday's closing, after that it was total sideways from 9:45 till 3:30. Also we discussed in the weekend that index has been trading between 52800 and 52100 on closing basis. Since it tested these levels so we can refine levels for tomorrow's budget session. 51700 and 52800 are key levels for a big move. Intra levels are 52450 and 51850. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 52450 then we will long for the target of 53605. For selling we need a 15 Min candle close below 51850. T- 50980. 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
Budget day trading levels BN 23/07/24.Banknifty prior to the budget day closed flat and there are chances of a trending market owing to the news. On the hourly charts, the market has consolidation after the first hour candle. Consolidation is good to make the break out/ down to travel. Market is trading around the 20 ema and above 200 ema. If the market break below the moving average, trade using MA strategy can be entered. Major support levels :- 52160, 51940 Resistance levels :- 52420, 52630 Wait for the price action near the levels before entering the markets.
NSE:BANKNIFTY
by Mambotrade
Banknifty Budget day prediction for tomorrow 23 Jun Tomorrow is Budget Day; all of you must be very excited to trade it. Usually, there is not very good price action for such events. The market might take turns from pivotal points marked on the chart. If we look at the chart now: The market is trading near the support zone and support trendline. The market has been consolidating for the last 15 days. If the range breaks to the upside, the market can give very nice momentum. Support levels: 52210, 52086, 51778, 51318 Resistance levels: 52657, 53178 If we look at the OI data: PCR = 0.59 shows bearish market behavior. There is good CE writing on the 52300 and 52500 levels, which shows a good resistance point. On the other hand, 52000 and 51500 is having good PE writing that might give good support points. Reason: RSI is 40 - 60, showing the market is going to be a sideways structure. Price trading at 200 EMA can go either way. PCR = 0.59 shows that the market is Bearish. Price > VWAP shows a Bullish market structure. Verdict: Neutral Plan of action: Wait for 15 min candle. Wait for good price action on the 52000 levels, and make your positions accordingly.
NSE:BANKNIFTY
by finnova_
BankNifty Intraday Support & Resistance Levels for 22.07.2024On Friday, BankNifty remained within its range and did not cross the major resistance level of 52750, closing 355 points down at 52265.60. A decisive crossover above 52750 with volume might lead to a new all-time high. The weekly and daily trends (50 SMA) are still positive. Banknifty might be highly volatile today due to the Budget session scheduled today. Support Levels: Near Support/Demand Zone (75m) for weekly trade: 51749 - 51966 Major Support/Demand Zone (Daily): 51138 - 51934 Resistance Levels: Near small supply/resistance zone (15m): 52482 - 52563 Far Supply/Resistance Zone (30m): 53064 - 53188
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 19.07.2024On Thursday, BankNifty attempted to cross the crucial level of 52750, mentioned in the last post, and made a high of 52782.75 but failed to close above it, ending 223.90 points up at 52620.70. A decisive crossover above 52750 with volume might lead to a new all-time high. The weekly and daily trends (50 SMA) remain positive. Support Levels: Near Support/Demand Zone (15m): 52187 - 52315 Near Support/Demand Zone (75m) for weekly trade: 51749 - 51966 Major Support/Demand Zone (Daily): 51138 - 51934 Resistance Levels: Near small Supply/Resistance Zone (30m): 53064 - 53188
NSE:BANKNIFTY
by PriteshPalan
Banknifty analysis for 19/07/24.Banknifty on the weekly time frame is still forming an inside candle. If it crosses the previous weekl high of 52800, a bullish trade can be made. The hourly time frame, there is a inverted Head and Shoulder pattern and the high probability trade can be initiated as Nifty is trading around Life time high of 24800. There is chances of BN catching up with other index. Major Break out level :- 52800 Targets :- 53080, 53250 In case the market starts break down, trade only once it break the support zone of 52150-52200. Wait for the price action around the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
#Banknifty directions and levels for July 16th.Bank Nifty: Bank Nifty maintained a range market in the previous session and may continue that today. We can try a range breakout trade: that's if the market breaks the previous day's high, we can expect a swing high to 52,878. On the other hand, if it declines, we should wait for a breakout below 52,263. If that happens, it may fall further to a swing low of 52,088. Even if it breaks either upside or downside, the premium might not increase much. So please take your positions based on your knowledge.
NSE:BANKNIFTY
by Manickamtraders
Banknifty Prediction for today 15 July 24As we discussed, BANKNIFTY opened in a sideways zone, touched the resistance zone, and then fell nicely and ended up sideways closing. If we look at the chart now: The market is trading near the support zone. The market is making the Inverted HNS, which shows the market can be bullish today as the right shoulder is yet to complete. I have illustrated both cases in the chart to see if it opens a gap down or a gap up. Support levels : 52086, 51778, 51318 Resistance levels : 52657, 53178 If we look at the OI data: PCR = 0.78 shows mild bullish market behavior. There is good PE writing on 52000 levels, which shows a good support point. On the other hand, 52500 has very good resistance as having the highest CE writing. Reason: RSI is 40 - 60, showing the market is going to be a sideways structure. Price > EMA(13, 50, 200) shows bullisah market structure. PCR = 0.78 shows that the market is mildly bullish. Price < VWAP shows a bearish market structure. Verdict: Neutral Bullish Plan of action: wait for 15 min candle. Wait for good price action on the 52000 levels, and make your positions accordingly.
NSE:BANKNIFTY
by finnova_
1
Banknifty prediction for tomorrow 12 July 24As we discussed, BANKNIFTY gave a good bearish momentum and recovered it from 51800. If we look at the chart now: The market was trading in a falling wedge pattern, which indicates the upcoming market is bullish. The market has broken it to the upside. The market has given a very sharp recovery from 51800. I can expect some more bullishness in the upcoming market. Support levels: 51770, 52032, 200-EMA, VWAP Resistance levels: 52625, 53100 If we look at the OI data: PCR = 0.81, which has been increased from 0.60, shows a good streak of bulls. Most of the positions have been rounded off today. There is not much new position addition, only the removal of existing positions. Reason: RSI ~ 60 shows the Bullish structure of the market. Price > EMA(13, 50, 200) shows bullisah market structure. PCR = 0.81 shows that the market is bullish. Price > VWAP shows a bearish market structure. Verdict: Bullish Plan of action: Sell 52300 PE (hedge it with 20/- PE option)
NSE:BANKNIFTYLong
by finnova_
2
BankNifty Intraday Support & Resistance Levels for 12.07.2024On Thursday, BankNifty opened gap-up but fell to 51,749, touching the daily and 75m demand zones mentioned in the last post. It then recovered 590 points from the low. The weekly and daily trends (50 SMA) are still positive. Support Levels: Near support/demand zone (75m): 51,510 - 51,784 (tested) Major support/demand zone (Daily): 51,138 - 51,934 Resistance Levels: Near small supply/resistance zone (30m): 53,064 - 53,188
NSE:BANKNIFTY
by PriteshPalan
Banknifty Prediction for today 11 july 24As we discussed, BANKNIFTY gave a good bearish momentum with a grand bearish opening of 300 points in 5 min. #Time Frame = 30 min If we look at the chart now: The market is trading in the range of 52276-52676. The market is continuously taking support at 200 EMA. Also, the 1D time frame market is receiving support at 13 EMA, which might lead the market to go bullish. Support levels: 52032, 51610, and 200 EMA Resistance levels: 50 EMA, 52625, and 53100 If we look at the OI data: PCR = 0.60, which shows a bearish behavior in the market. The market can be seen as very volatile between 52032 and 52625. 52200 is maxpain. Higher levels have higher CE writing than PE writing on lower levels. Reason: RSI ~ 40 shows the bearish structure of the market. Price = EMA(13, 50, 200) shows market is at make and break point. Soon, there will be good momentum on either side. PCR = 0.60 shows that the market is bearish. Price < VWAP shows a bearish market structure. Verdict: Neutral Plan of action: The morning 15-minute direction will determine the market direction. Once the direction is confirmed, make the position according to case 1 or case 2 as provided.
NSE:BANKNIFTY
by finnova_
1
BankNifty Intraday Support & Resistance Levels for 11.07.2024On Tuesday, BankNifty broke the past three days' low, falling to 52,075 before closing at 52,189.30. It has remained within the 125m Demand Zone for the fourth consecutive day. The weekly and daily trends (50 SMA) are still positive. Support Levels: Near Support/Demand Zone (125m): 51,996 - 52,379 (currently trading inside the zone for the last four days) Far Support/Demand Zone (75m): 51,510 - 51,784 Major Support/Demand Zone (Daily): 51,138 - 51,934 Resistance Levels: Near small Supply/Resistance Zone (30m): 53,064 - 53,188
NSE:BANKNIFTY
by PriteshPalan