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Bankniftyintradaytradesetup

BANKNIFTY Intraday Trade Setup For 01 Nov 2023BANKNIFTY Intraday Trade Setup For 01 Nov 2023 Bullish-Above 43130 Invalid-Below 43020 T- 43410 43760 Bearish-Below 42790 Invalid-Above 42900 T- 42538 42280 BANKNIFTY has closed on a bearish note with 0.45% cut today. It was 0.382/0.5 rejection day of the parabolic fall from 44600. Today's high near 43400 will be an important hourly swing high for a reversal structure. Tomorrow 43130 will be important level to decide the bullish momentum. Below 42790 we can expect some bearish momentum. 43410 will be an important resistance zone and 42200 zone will be support zone. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 43130 then we will long for the target of 43410 and 43760. For selling we need a 15 Min candle close below 42790. T- 42538 and 42280-300. 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.
NSE:BANKNIFTY
by Omahto
Banknifty weekly analysis for 30/10/23.Banknifty has been trading below Weekly 20 ema and has given nice trending movement of around 1500 points from high to low while closing around 940 points lower. It recovered around 1% or 500 point higher on the last trading session that is a retracement after the selling leg. Daily candle is showing a retracement and can test fibonacci 38.2% or 50% level. The closing on the hourly charts is above the 20 ema after consolidating around the level. Support :- 42500, 42320, 42130 Resistance :- 43100, 43380, 43620 After a selling leg the market are retracing to clear the imbalances. The trend is bearish for now and sell on rise in the market cycle. Wait for the price action and a setup for the entry. Trailing stop loss can give good targets on the bearish side.
NSE:BANKNIFTY
by Mambotrade
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Banknifty Intraday Prediction Levels for 26 Oct 2023Banknifty Intraday Prediction Levels for 26 Oct 2023 The chart indicates 15 min time frame. These Levels act as Support and Resistance according to position of price . They are strictly for Intraday Trading only. Execution only after break and close above the Resistance zone/Line or below the Support zone/Line. Major Resistances- 43090,43220,43300,43635,43700,…. Major Supports- 42650,42485,42330,42285,42170,42080,42000,… These levels act as support and resistance. You have to trade according to level breakout or breakdown. First target is immediate next level. When first target is achieved go for the next one and so on. If You are a new trader then just watch ( No Trade) these levels for some days. Happy trading. Disclaimer: I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult your Financial Advisor before taking any decision or trade.
NSE:BANKNIFTY
by suraranjanganguli
BANKNIFTY Intraday Trade Setup For 27 Oct 2023 || Daily AnalysisBANKNIFTY Intraday Trade Setup For 27 Oct 2023 Bullish-Above 42380 Invalid-Below 42270 T-42650 42925 Bearish-Below 42100 Invalid-42210 T-41835 41487 BANKNIFTY has closed once again on a complete bearish note today with 1.29% cut. It opened with a slight cut actual trade was 10 o'clock range breakout which happened in the downside below 42370 and gave a move till 42110 and risk (last swing high) was 42460. Tomorrow above 42380 after a flat opening we can give a good bounce. Be very strict in trailing after sell triggers ,especially near 41950. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 42380 then we will long for the target of 42650 and 42925. For selling we need a 15 Min candle close below 42100. T- 41835 41487 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.
NSE:BANKNIFTY
by Omahto
Banknifty daily analysis for 27/10/23.Banknifty has been trading below the 200 DMA and for consecutive 3 trading session it has closed in red. Today, the close is below 550 points after testing low of 42100. The trend in the market is bearish and more selling upto 41500 level can be seen in the coming days. On the hourly chart, there was a fall in the first half of the session and consoldiated in a parallel channel in the second. A perfect bearish flag and pole formation is there on 15 minutes chart. Support :- 42000-40, 41500 Resistance :- 42800, 43000 Market has given a break down and now there are big targets in the market. If the market breaks down the parallel channel there can be another sell off breaching another round number levels of 42000. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
BANKNIFTY Intraday Trade Setup For 26 Oct 2023 || Daily AnalysisBANKNIFTY Intraday Trade Setup For 26 Oct 2023 Bullish-Above 43000 Invalid-Below 42890 T- 43335 43650 Bearish-Below 42750 Invalid-Above 42860 T- 42420 42155 BANKNIFTY has closed on a complete bearish note with 0.74% cut today. Sell triggered as per trade setup below 43020 and hit 1st target by closing (43020- 42760). Tomorrow once again on a flat opening below 42750 we will get a trendy downside move. For a bullish move it has to sustain above 43000 in 15 Min TF. So 43000 and 42750 are important levels for tomorrow's session to look for breakout. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 43000 then we will long for the target of 43335 and 43650. For selling we need a 15 min candle close below 42750. T- 42420 and 42155. 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.
NSE:BANKNIFTY
by Omahto
Banknifty monthly expiry trading levels (26/10/23).Banknifty has given a nice fall of 2% in just 2 trading session and closed below the round fingure of 43k. Today, it recover for the imbalance in the markets and gave a fall of 200 points in two candle followed by a 300 coming from a single candle that took out the support levels. On the hourly chart, market has given a good fall and consolidated in the second half which is good for the monthly expiry tomorrow. Now the market trend for a short term is bearish and sell on rise cycle is in. Option buyers can make positions with a setup confirmation. Support :- 42600, 42350 Resistance :- 43090, 42380 Banknifty has respected the levels giving the target of 42800 and taking support from the same. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
BANKNIFTY Intraday Trade Setup For 25 Oct 2023 || Daily AnalysisBANKNIFTY Intraday Trade Setup For 25 Oct 2023 Sell_1-From 43550 Invalid-Above 43660 T- 43335 43100 Sell_2- Below 43020 Invalid-Above 43130 T- 42725 42420 BANKNIFTY has closed on a complete bearish note with 1.31% cut on Monday. 43550 was the short level for last session. It triggered and we witnessed a free fall in index. Wild bearish move will continue below 43020/43k. There is a high probability of a pullback tomorrow so in case 43550 is tested in the opening sentiment then we will plan a short from there. 2nd confluence level is 43350 zone in case it opens below this zone. Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes below 43020. T- 42725 and 42425. Incase 43550 is tested in the 1st hour then we will short from there. T- 43335 and 43100. 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.
NSE:BANKNIFTY
by Omahto
Banknifty daily analysis for 25/10/23.Banknifty has given a nice trending move after forming a bearish flag and pole pattern in the market. It has closed 570 points lower with major fall in a single hour candle of 14:15. Market continued to hold the previous day low and the support zone around it but in the second half the market started trading below the previous swing low of 43600 finally touch 43k level. Even the 200 ema couldn't sustain as a support and market has closed below it which adds up to the bearish sentiments. On the hourly charts, it constantly took resistance from the 20 ema and came for selling. Support :- 43090, 42800 Resistance :- 43420, 43590 The fall was a nice one and there are chance of market following a trend. The close of the market is outside the ongoing consolidation range. Sell on rise market has started as it has closed below the swing low. Trade with a strict SL and enter only with a good R:R ratio. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
BANKNIFTY Intraday Trade Setup For 23 Oct 2023 || Daily AnalysisBANKNIFTY Intraday Trade Setup For 23 Oct 2023 Bullish-Above 43880 Invalid-Below 43770 T- 44125 44370 Bearish-Below 43550 Invalid-Above 43660 T- 43235 42885 BANKNIFTY has closed on a bearish note with 1.28% cut last week. Apart from one day (18 Oct) the intraday momentum was sideways and bearish moves are not so so it indicates more sideways momentum in the next few sessions. However it has tested weekly swing low of 43600. Sustaining below this will initiate a larger downfall. Tomorrow's best trade scenario will be on flat opening. It has formed an inside candle in daily TF so incase 43550 is breached on a flat opening, we can witness trendy fall. 43880 is the level for upside. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 43880 then we will long for the target of 44125 and 44370. For selling we need a 15 min candle close below 43550. T- 43235 and 42885. 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.
NSE:BANKNIFTY
by Omahto
Banknifty Intraday Prediction Levels for 20 Oct 2023Banknifty Intraday Prediction Levels for 20 Oct 2023 The chart indicates 15 min time frame. These Levels act as Support and Resistance according to position of price . They are strictly for Intraday Trading only. Execution only after break and close above the Resistance zone/Line or below the Support zone/Line. Major Resistances- 43850,43930,43990,44060,44125,44260,44330,44510,… Major Supports- 43615,43540,43480,43410,43280,43200,43090,… These levels act as support and resistance. You have to trade according to level breakout or breakdown. First target is immediate next level. When first target is achieved go for the next one and so on. If You are a new trader then just watch ( No Trade) these levels for some days. Happy trading. Disclaimer: I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult your Financial Advisor before taking any decision or trade.
NSE:BANKNIFTY
by suraranjanganguli
BANKNIFTY Intraday Trade Setup For 20 Oct 2023 || Daily AnalysisBANKNIFTY Intraday Trade Setup For 20 Oct 2023 Bullish-Above 44060 Invalid-Below 43950 T- 44370 44632 Bearish-Below 43550 Invalid-Above 43660 T- 43230 42885 BANKNIFTY has closed on a slight bearish note with 0.31% cut today. It opened with a big gap down and 10 o'clock range was to be used as per trade setup. Range broke upside above 43815 and last swing low was 43686. Only problem was the breakout candle which was too big which made it not fit as per RR when the candle closed. However later it did a Re-test and gave the same strength move. It has formed an inverted hammer in daily TF so it will have some positive bias till it sustains above 43800 however buy level is above 44060. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 44060 then we will long for the target of 44370 and 44635. For selling we need a 15 Min candle close below 43550. T- 43230 and 42885. 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.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 19 Oct 2023 || Daily AnalysisBANKNIFTY Intraday Trade Setup For 19 Oct 2023 Sell_1- From 44270 Invalid-Above 44380 T- 44050 43850 Sell_2- Below 43860 Invalid-Above 43970 T- 43498 43200 BANKNIFTY has closed on a complete bearish note with 1.17% cut today. It opened flat and sell triggered as per trade setup below 44330 and hit almost both our targets. It made a low of 43862 and gave more than 450 points. Tomorrow once again index can crash if it below 43860. Best opening condition is flat or a small gap down opening. In case of a gap up index will not have that powerful bearish stance. I will ignore buying tomorrow and will plan to sell from 44270 in case of a gap up. Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes below 43860 then we will short for the target of 43498 and 43200. 2nd selling can be planned from 44270 in case it is tested after gap up opening. T- 44050 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.
NSE:BANKNIFTY
by Omahto
Banknifty Intraday Prediction Levels for 18 Oct 2023Banknifty Intraday Prediction Levels for 18 Oct 2023 The chart indicates 15 min time frame. These Levels act as Support and Resistance according to position of price . They are strictly for Intraday Trading only. Execution only after break and close above the Resistance zone/Line or below the Support zone/Line. Major Resistances- 44550,44655,44715,44810,44940,45080,45120,… Major Supports- 44280,44180,44090,44025,43900,43760,43700,… These levels act as support and resistance. You have to trade according to level breakout or breakdown. First target is immediate next level. When first target is achieved go for the next one and so on. If You are a new trader then just watch ( No Trade) these levels for some days. Happy trading. Disclaimer: I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult your Financial Advisor before taking any decision or trade.
NSE:BANKNIFTY
by suraranjanganguli
Banknifty daily analysis for 19/10/23.After many weekly expiry this expiry was the one which was in favour of the option buyers. Banknifty has closed 520 points lower moving the market more then 1% down. It was struggling to sustain above 20 ema and today being the weekly expiry it gave a nice move in the first half and consolidated in the second. On the hourly charts, the market took resistance from 20 ema and came for selling, giving 422 points in single candle. The market has consolidated after a fall in the second half which shows that the market has halted. If the market fall below 43800 levels, it can test 42800 levels soon. On 15 minute chart, it has formed a bearish moving averages cross over and has closed below both the moving averages. Support :- 43870, 43680 Resistance :- 43980, 44210 Wait for the price action near the level before entering the market.
NSE:BANKNIFTY
by Mambotrade
BANKNIFTY Intraday Trade Setup For 18 Oct 2023 || Daily AnalysisBANKNIFTY Intraday Trade Setup For 18 Oct 2023 Bullish-Above 44590 Invalid-Below 44480 T- 44885 45120 Bearish-Below 44330 Invalid-Above 44440 T- 44040 43795 BANKNIFTY has closed with 0.42% gain today, all contributed by gap up. It was another day of sideways momentum. It opened with a big gap up and momentum was lost within 150 points range for the 1st 4 hours. Later 10 o'clock range broke downside below 44430 and gave 90 points move in favor. Tomorrow if it sustains above 44600 then we can see a good up move. Below 44330 it can give a move towards 44040 but 44200 can be a confluence gap zone. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 44590 then we will long for the target of 44885-915 and 45120. For selling we need a 15 Min candle close below 44330. T- 44040 and 43795. 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.
NSE:BANKNIFTY
by Omahto
Banknifty weekly expiry analysis for 18/10/23.Banknifty on the daily time frame has given a red candle after a gap up opening and closing 180 points higher. It opened above the 20 ema but couldn't sustain above the level and closed below the level and constantly faced resistance from 44500 level. On the hourly charts, banknifty traded between both the moving averages, taking resistance from the 200 ema and support from 20 ema. Today, there was a nice sell in the market in the second half after a consolidation forming a bearish flag and pole pattern. Tomorrow is weekly expiry and last expiry has also been in the consolidation phase. If there is a trend move it can be captured by booking 80% on the target and trailing SL for the remaining 20%. On 15 minute charts, the market closed around both the moving averages. The market took support from the 200 ema and respected the 44350 level. Support :- 44330, 44210 Resistance :- 44450, 44550, 44730 Wait for the price action near the level before entering the market.
NSE:BANKNIFTY
by Mambotrade
BANKNIFTY Intraday Trade Setup For 17 Oct 2023 || Daily AnalysisBANKNIFTY Intraday Trade Setup For 17 Oct 2023 Bullish-Above 44360 Invalid-Below 44250 T- 44600 44883 Bearish-Below 44040 Invalid-Above 44150 T- 43795 43524 BANKNIFTY has closed almost on a flat not with a minor cut of 0.14% today. Sell triggered as per trade immediately after opening, without any pullback after a big parabolic down move from last session's high. It formed a morning star immediately after breakout and hit our sl. Index momentum is still sideways, especially when seen in hourly TF. It is trading between 44750 and 43790. Tomorrow high probability trade looks in the upside if triggered. 44360 and 44040 are important levels for tomorrow's session. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 44360 then we will long for the target of 44600 and 44883. For selling we need a 15 min candle close below 44040. T- 43790 and 43524. 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.
NSE:BANKNIFTY
by Omahto
Banknifty daily analysis for 17/10/23.Banknifty is still trading below the 20 ema and has formed another doji candle at the day close. It has given a nice move both side. In the opening it tested the lower levels and also tested the higher levels. On the hourly charts, the market tested the 20 ema, facing resistance from the levels and closed almost flat. Ongoing market is for the option seller as there is time decay whole in option premiums. On 15 minutes charts, the market has closed below both the moving averages. Support :- 44190, 44060, 43860 Resistance :- 44560, 44740 Banknifty is volatile and there are chances of a trending move in the market. There is a good consolidation going on in the market a powerful break out or break down is about to be seen. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
BANKNIFTY Intraday Trade Setup For 16 Oct 2023BANKNIFTY Intraday Trade Setup For 16 Oct 2023 Bullish-Above 44600 Invalid-Below 44490 T- 44860 45120 Bearish-Below 44200 Invalid-Above 44310 T- 43957 43725 BANKNIFTY has closed almost on a flat note last week with 0.16% cut and 0.7% cut on Friday. It has formed an inverted hammer in daily charts so if its low-44200 is safe and we sustain 44600 then we are likely to see a good up move in hourly TF. If we get a sustained breakout of 44750 then bullish momentum likely to kick in (Hourly TF). Below 44180 we will maintain bearish view (CE short) (Hourly TF). Selling the 10 o'clock range looks more safe till we get a 10 o'clock range breakout. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 44600 then we will long for the target of 44860 and 45120. For selling we need a 15 Min candle close below 44200. T- 43957 and 43725. 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.
NSE:BANKNIFTY
by Omahto
Banknifty weekly analysis for 16/10/23.Banknifty on the weekly time frame has given a doji candle and has closed almost flat below the 20 ema. On the daily charts, market has formed a gravestone doji candle and closed below the 20 ema after taking a resistance from the level. It is showing some negative build up on the intraday front and is consolidating on the higher time frame. Banknifty has been closing in a narrow range and is facing a serious resistance from 44740 level. On the hourly time frame, during the last trading session, it has formed a tweezer top or bearish engulfing candle. There are chance of banknifty testing the low again. Banknifty is consolidating around the recent low and if the low is broken there are chances of fear selling. The global consents are negative and the ongoing Israel Palestine war may also contribute to the sell off. Major Support :- 43820-850 Resistance :- 44740 For intraday trading levels. Support :- 44190, 44060, 43860 Resistance :- 44560, 44740 Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade