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Bankniftyintradaytradesetup

BANKNIFTY Intraday Trade Setup For 6 Dec 2022BANKNIFTY Intraday Trade Setup For 6 Dec 2022 Buy-Above 43375 Sl-43265 T-43537 43713 Sell-Below 43159 Sl-43270 T-42950 42700 BANKNIFTY has closed on a positive sentiment with more than 0.5% gain today. It has closed near day high which is a sign of bullishness. This sentiment will continue above today's high. It was a V shape day today. We saw a shar fall in the 1st 45 Min then a sharp recovery. Buy triggered as per trade setup and gave more than 200 points gain which was 1:2. In daily TF it has been consolidating for a long time. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 43375 then we will long for the target of 43537. Above 43550 we will head higher till marked zones. For selling we need a 15 min candle close below 43159. Target will be 42950. Below 42930 we will hit 42700. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 5 Dec 2022BANKNIFTY Intraday Trade Setup For 5 Dec 2022 Buy-Above 43135 Sl-43030 T-43315 43500 Sell-Below 42935 Sl-43040 T-42700 42530 BANKNIFTY has closed almost flat for this week as it ended with just 119 points gain which is 0.28%. In monthly TF the last (Nov) month candle closed above the ATH which was created last year in the month of Oct. Currently we are 3% up from that level. Possibility is that we may give a pullback before the start of any fresh up move. And the recent high which is 42550 will be important to watch out for the continuation. Talking about the weekly TF since last 8 weeks we have been safeguarding Previous Low. So if we break current week's low we may show some weakness. Coming to Monday's trade setup, if index opens flat and a 15 min candle closes above 43135 then we will long for the target of 43315 above which we will hit 43500. For selling we need a 15 Min candle close below 42935. Target will be 42700 and 42530. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 2 Dec 2022BANKNIFTY Intraday Trade Setup For 2 Dec 2022 Buy-Above 43365 Sl-43250 T-43597 43770 Sell-Below 43100 Sl-43210 T-42920 42740 BANKNIFTY has closed on a flat note with just 29 points gain. The 600 points range which was valid since last 5 trading sessions was broken in the higher side via gap gap. As it directly opened above the range high , it slipped from opening and has closed at the range high. This breakout will be confirmed above today's high. Also it is inside the channel pattern in hourly TF. According to trade setup, it directly opened at 1st target in buy side. Later 10 o'clock range broke downside below 43390 and gave more than 250 points gain. Coming to Friday's trade setup, if index opens flat and a 15 min candle closes below 43100 then we will long for the target of 42920 and 42740. For buying we need a 15 Min candle close above 43365. Target will be 43597 and 43770. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 1 Dec 2022BANKNIFTY Intraday Trade Setup For 1 Dec 2022 Buy-Above 43340 Sl-43230 T-43522 43710 43950 Sell-Below 43000 Sl-43110 T- 42750 42550 43330 BANKNIFTY has closed on a positive note with 0.41% gain. It is still inside the 600 points range (43340-42740) which is valid since last last 5 trading sessions. Breakout of this range will lead to a initial move of 600 points any side. Any ways tomorrow is expiry so have to be very careful with trailing sl in both way trades. Today it opened flat and sell triggered and gave 1:1 profit. 10 o'clock range gave decent as it broke before sell triggered. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 43340 then we will long for the target of 43522, 43710 and 43950-44k. For selling we need a 15 min candle close below 43000. Target will be 42750, 42550 and 42330. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 30 Nov 2022BANKNIFTY Intraday Trade Setup For 30 Nov 2022 Buy-Above 43340 Sl-43230 T-43522 43710 43950 Sell-Below 42995 Sl-43105 T-42740 42550 42330 BANKNIFTY has closed on a flat note with just 33 points gain. Exact same thing happened yesterday where it closed flat with just 36 points gain. A zone is being created, can be a distribution, confirmation is on range breakdown. A range (43340 -42740) of 600 points has been created. Breakout will lead to a initial move of 600 points any side. A shooting star has been formed in daily TF. Index can slide below its low. Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 43340 then we will long for the target of 43522, 43710 and 43950. For selling we need a 15 Min candle close below 42995. A pullback is needed before breakdown. Target will be 42740, 42550 and 42330. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
PostMortem on BankNifty Today & Analysis of 29 NOV 2022 Looking at the price action i had given a sell short call yesterday - read here I had to literally change the view looking at just the first candle. A mega green 5mts candle that took bank nifty 172+ points & above the swing high of yesterday. The rally did not stop until 11.05 creating a steady buying momentum. From 11.05 to close of day it was a slow fall back to where it all started. Final close just 0.08% above yesterday's close. In the gradual decline there are 2 candles that stands out, one at 14.20 and 14.35 which led bank nifty to fall below the swing high of yesterday. Now we have 2 contradicting signals - a breakout bullish signal in the forenoon session and a gradual bearish signal in the afternoon session. Which do we consider - not quite sure. Remember yesterday we had discussed the massive amounts of call writing especially for 43000, 44000, 45000 & 48000 CE. The pattern is quite similar today also. Approx 25 to 30% of options trading volume came after 15.00 today. Such intensity of call writings happens only when the call writers are confident that the markets will not move higher. I am a strong believer of this leading indicator and continue to be cautiously bearish till we see the call writing vs put writing ratio normalizes. --- Of the bank nifty components HDFC bank started the day strongly, made a peak and then started falling in the afternoon session. Final close was flattish but the pattern showed bearishness ICICI Bank showed intense strength, kept climbing and then showed no signs of reversing even when other banks started falling afternoon. Today's chart pattern looks flattish SBI had a gradual rise and then a regular fall in afternoon - final close flattish AXIS started the day strong, but the fall after 10.25 showed negativity. Although it went underwater only after 15.15 - the chart pattern shows negativity Kotak bank also closed flat but the chart pattern was quite confusing. A gradual fall to start the day, the a quick rise to swing high and then a quick fall to go back to flat line. IndusInd bank showed gradual bearishness. --- 15mts TF shows a top formation in place. If we have a down day tomorrow we can confirm it. 1hr TF shows either an interim double top or a consolidation move - will need to wait for more clarity. ---
NSE:BANKNIFTYShort
by viswaram
BANKNIFTY Intraday Trade Setup For 29 Nov 2022BANKNIFTY Intraday Trade Setup For 29 Nov 2022 Buy-Above 43160 Sl-43050 T-43340 43522 43710 Sell-Below 42960 Sl-43070 T-42740 42550 42330 BANKNIFTY has closed on a flat note with just 36 points gain. It was almost a Open=Low day. It opened with a decent gap down with 200 points cut. As per 10 o'clock range buy triggered @42951 and this trade gave the smoothest and trendy move. More than 200 points grabbed (42951-43159). Today's low will be very important for a downside structure. We are still inside channel pattern in hourly TF. Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 43160 then we will long for the target of 43340, 43522 and 43710. For selling we need 15 Min candle close below 42960. Target will be 42740, 42550 and 42330. We have trail sl with RR ratio in both way be in selling or buying. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 28 Nov 2022BANKNIFTY Intraday Trade Setup For 28 Nov 2022 Buy-Above 43060 Sl-42950 T-43300 43522 Sell-Below 42860 Sl-42970 T-42630 42460 BANKNIFTY closed on a positive note last week but on a slight negative note last day. Week ended with 1.29% gain. On Friday we saw a minor profit booking and it closed with a minor cut of 0.21%. It can be start of profit booking, but we need a negative price action in hourly TF. This profit booking can pull BANKNIFTY till 41750 levels; confirmation in the form of negative price action needed. M pattern is needed in hourly and daily. Or else it will slowly and steadily inch higher. No swing low has been tested yet. Coming to Monday's trade setup, if index opens flat and a 15 min candle closes above 43060 then we will long for the target of 43300. Above 43350 we will hit 43522+. For selling we need a 15 Min candle close below 42860. Target will be 42630. Below 42600 we will hit 42460. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
1
BANKNIFTY Intraday Trade Setup For 25 Nov 2022BANKNIFTY Intraday Trade Setup For 25 Nov 2022 Buy-Above 43165 Sl-43050 T-43350 43522 43686 Sell-Below 42870 Sl-42980 T-42676 42460 BANKNIFTY has closed on positive note with 0.81% gain today. It has closed at all time high. As per trade setup buy triggered and gave a move above 42861 till 43160+. It was a bit noisy and sideways for more than 4 hours in between. Rally in NIFTY was smoother as no trailing sl was hit. It has closed above round level- 43000. Bullish sentiment likely to continue above today's high. If a bearish price structure establishes below 43000 in 5 Min TF then we can slide. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 43165 then we will long for the target of 43350, 43522 and 43686. For selling we need 15 Min candle closes below 42870. Target will be 42676 and 42460. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto