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Bankniftylevels

#Banknifty directions and levels for FEB 27thBanknifty has undergone consolidation in the last session. If today's gap-up sustains, then we can expect 47089, which is a triangle resistance level (78%). If it rejects there, then the range market will continue for another one or two days. Alternatively, if it breaks, then we can expect a rally continuation in the upcoming trading session. Alternatively, if the gap-up doesn't sustain and breaks the previous day's low, then we can expect a correction that will reach a minimum of the demand zone at 46320. After that, if it finds support there, then we can expect a minor pullback. However, if it breaks that level, then the correction will likely continue.
NSE:BANKNIFTY
by Manickamtraders
26 Feb ’24 — Banks showing some weakness, below the bearish lineBankNifty Analysis - Stance Neutral ➡️ BankNifty on the other hand was looking weaker. Technically BN only lost 0.5% vs Nifty 0.41% - but the price action & visual impact showed the Banks ceding their bullish control. If you look at the sloping bearish trend line, we opened below that went up for a brief time and then fell back below water. We rejected the resistance twice today showing some signs of the steam cooling off. 4mts chart On the higher timeframe, we have not yet broken away from the bearish resistance line. But the double top formation also leaves a visual clue. If the bulls had more control of the situation, they should have knocked out the 47465 resistance by now. It all depends on how BN will trade tomorrow and Wednesday. This time around, the torch bearer for Nifty50’s directional trend was all NiftyIT. BankNifty was the laggard and with 37% of weightage, it is quite impossible to rule out the strength of the banks. The first thing we would like to do tomorrow is to find some non-directional trades if BN stays in the bearish channel. To go bullish, BN will have to take out the peak of the double top formation i.e. 47250+ levels. 63mts chart Algo Trading Our algo trades ended today with a gain of Rs19367 today, we manually squared off the trades by 14.45 to protect the profits.
NSE:BANKNIFTY
by viswaram
BANKNIFTY Intraday Trade Setup For 27 Feb 2024BANKNIFTY Intraday Trade Setup For 27 Feb 2024 Bullish-Above 46900 Invalid-Below 46790 T- 47425 48025 Bearish-Below 46500 Invalid-Above 46610 T- 45990 45470 BANKNIFTY has closed on a bearish note with 0.5% cut today. Sell triggered as per trade setup below 46720 and gave a move till 46520, however targets were pending. Looking at last 3 daily candles if index makes the 4rth candle a green then only possibility of a bullish move is there. 46900 and 46500 are important intraday levels for tomorrow's session. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 46900 then we will long for the target of 47425 and 48025. For selling we need a 15 Min candle close below 46500. T- 45990 and 45470. 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 - 27/02/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 27/02/2024 - Levels IMPORTENT ZONE FOR THE DAY: 46610 – 46650 Important Support and Resistance for the Day... Support - Resistance - Support-1: 46510 Resistance-1: 46650 Support-2: 46400 Resistance-2: 46800 Support-3: 46330 Resistance-3: 46950 Support-4: 46100 Resistance-4: 47000 ____________________________________________ 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 20 -> 20 EMA in Day Red Zones... -> Resistance-Zones Green Zones... -> Support-Zones IMP -> Important 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 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 (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals)
NSE:BANKNIFTY
by SriTrader5121
BankNifty levels - Feb 27, 2024Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We trust that this information proves valuable to you. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you successful trading endeavors!
NSE:BANKNIFTY
by sacxe
BANKNIFTY Intraday Trade Setup For 26 Feb 2024BANKNIFTY Intraday Trade Setup For 26 Feb 2024 Bullish-Above 47260 Invalid-Below 47150 T- 47850 48420 Bearish-Below 46710 Invalid-Above 46820 T- 46165 45640 BANKNIFTY has closed with a very slight gain of 0.92% gain last week. Index gave a breakout of 46600 in daily TF on 20 Feb which will be still valid till 46300 is safe. However 46400 is the last swing low so below this we will get an early sign of reversal. The plotted trendline has been valid since 21 Feb, it was respected even on Friday. Now on breakout of this trendline index will give a bullish move, confirmation above 47250. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 47260 then we will long for the target of 47850 and 48420. For selling we need a 15 Min candle close below 46710. T- 46165 and 45640. 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
23 Feb ’24 — BankNifty rejects the bearish trend line.BankNifty Analysis - Stance Bullish ⬆️ BankNifty fell 108pts today and still, it looks bullish for us. The reason is, the bearish trend line was rejected and as long as we stay on top - we are immune to bear attack. A few candles were quite abnormal today, with the price action from 10.19 to 10.38 and then the 13.19 candle that single-handedly took out 193 points. Even after all that, the bears were not able to get a close below the support line. 4mts chart On the higher time frame, BN has made a double top at 47200 levels. We will be considering that with a pinch of salt as we do not know what technical pattern gets a higher priority - the double top or the support rejection. We might have to go with the trend here and assume the direction is upward. We will only get to know this when BN attempts the next resistance of 47465. A resistance rejection would tip the scale in the Bear’s favor. 63mts chart
NSE:BANKNIFTYLong
by viswaram
BankNifty levels - Feb 26, 2024Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We trust that this information proves valuable to you. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you successful trading endeavors!
NSE:BANKNIFTY
by sacxe
#banknifty directions and levels for FEB 23Banknifty also has the same sentiment, but there is no solid pullback. However, if the gap-up sustains and breaks the Fibonacci level of 78% (47160), then we can expect further continuation. The alternate view is the same as with Nifty. If it rejects sharply around the 78% or if the gap-up doesn't sustain, then initially, we can expect a 23 to 38% Fibonacci correction. After that, if it finds support there, it may form a range for pullback continuation. However, if it breaks the Fibonacci level of 38%, then the correction may continue, and we can expect the Fibonacci level of 78% to the swing low."
NSE:BANKNIFTY
by Manickamtraders
22 Feb ’24 — BankNifty is bullish even though we had a RED DayBankNifty Analysis - Stance Bullish ⬆️ BankNifty did not have as much of a wild swing as Nifty50 had today, interestingly the SR trendline (blue sloping line in the below chart) was in action. We fell below this support at 09.59 and stood there till 14.59. Only in the last 30mts we managed to go above this level. If you notice in detail it is when BN crossed this resistance that N50 surged past its 22051 SR. Let us not steal the credit as it was all NiftyIT that helped N50 do its magic. BankNifty even though ended with a loss of 0.21% - we are still bullish on it. 4mts chart In fact, we had one 63mts candle below the blue trend line today and ideally, we should have changed the status from bullish to neutral. Had BN stayed lower and not reclaimed its lost ground, we would have 100% gone with a neutral stance for tomorrow. As it stands the next resistance is at 47465 and it is a tough level. If the euphoria from the US markets is spilling to ours tomorrow (SPX +1.96%, NDQ +2.87% as of writing) - then we might even have an outlier GREEN session tomorrow. 63mts chart
NSE:BANKNIFTYLong
by viswaram
BANKNIFTY Intraday Trade Setup For 23 Feb 2024BANKNIFTY Intraday Trade Setup For 23 Feb 2024 Bullish-Above 47040 Invalid-Below 46930 T- 47690 48315 Bearish-Below 46350 Invalid-Above 46460 T- 45640 BANKNIFTY has closed with a slight cut of 0.21% today. Sell triggered as per trades setup below 46870 and gave a good move till 46430 there a sharp reversal came in the afternoon session. It has formed a Pin bar candle which caters a bullish sentiment which is followed by the daily TF current. Index has given a bullish breakout above 46600 and now we can expect a good upside momentum towards ATH. Best trade is in upside on a flat opening above today's high. 46350 is an intraday support. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 47040 then we will long for the target of 47690 and 48315. For selling we need a 15 Min candle close below 46350. T- 45640. 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
2
Banknifty analysis for tomorrow 23 FebAs we have been discussing, Banknifty has had a double-bottom structure for the past week. It has been consolidating at the neckline. Now, if we look at the chart data: The market is trading at the resistance area. Where the 4h-TF trendline is providing resistance. Also, 47323 is our price action resistance. 46426 is our recent price action support, which is also confirmed support by 200 EMA. If we look at OI data: PCR = 0.99, which indicates bullish market sentiments. FII data shows indecisiveness. 47000 is acting as MAXPAIN. On the above side, 47500 will be nice resistance, whereas 46500 will provide a good support zone in upcoming sessions. I expect the market to be sideways in the range of 46500-47350. above 47350, the market will be bullish. Reasons: Price > EMAs, which indicates bullish market sentiments. RSI ~ 55. If it crosses 60 to the upside, It will be bullish. In a range of 40-60, the market will be sideways. Volume analysis for today's activity shows a neutral behavior. Pcr = 0.99 shows the market is bullish. FII and DII data are mostly indecisive. Verdict: Sideways or Bullish Plan of action: Case 1: Range selling in the range 46500-47350. Case 2: go bullish above 47350.
NSE:BANKNIFTYLong
by finnova_
FASP levels for Bank Nifty 23/02/2024The FASP for BankNifty is listed for 23-02-2024. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTY
by SathishChandrasekaran
1
BankNifty levels - Feb 23, 2024Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We trust that this information proves valuable to you. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you successful trading endeavors!
NSE:BANKNIFTY
by sacxe
#Banknifty directions and level for FEB 22Banknifty structurally differs a little from Nifty, but here also, we can expect a ranging market initially if the gap-up sustains. We can expect a rally continuation only if it breaks the previous high. On the other hand, if the gap-up doesn't sustain, then we can expect a minor correction here also. After that, if it finds support around the demand zone, the ranging market might continue. However, if it consolidates or breaks the demand zone solidly, then the correction will continue further.
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY MATHEMATICAL LEVELS FOR THIS EXPIRYThese Levels are based on purely mathematical calculations. Validity of levels are upto expiry of current week. How to use these levels :- * Mark these levels on your chart. * Safe players Can use 15 min Time Frame * Risky Traders Can use 5 min. Time Frame * When Candle give Breakout / Breakdown to any level we have to enter with High/Low of that breaking candle. * Targets will be another level marked on chart * Stop Loss will be Low/High of that Breaking Candle. * Trail your SL with every candle. * Avoid Big Candles as SL will be high then. * This is one of the Best Risk Reward Setup. For Educational purpose only
NSE:BANKNIFTY
by YASHSINCE1995
BANKNIFTY Intraday Trade Setup For 22 Feb 2024BANKNIFTY Intraday Trade Setup For 22 Feb 2024 Bullish-Above 47380 Invalid-Below 47270 T- 47865 48425 Bearish-Below 46870 Invalid-Above 46980 T- 46230 45640 BANKNIFTY has closed on a very slight bearish note with 0.16% cut today. Buy triggered as per trade setup above 47150 which hit sl. It was a roller coaster ride whole day. It was a Open = High day so tomorrow below today's low there can be another slide towards 46230. 46230 is a PRZ and can act as a very strong intraday support. Above today's high high will be simple bullish view with a strong momentum followed by the daily TF trend. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 47380 then we will long for the target of 47865 and 48425. For selling we need a 15 Min candle close below 46870. T- 46230 and 45640. 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 levels - Feb 22, 2024Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We trust that this information proves valuable to you. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you successful trading endeavors!
NSE:BANKNIFTY
by sacxe
BANKNIFTY Intraday Trade Setup For 21 Feb 2024BANKNIFTY Intraday Trade Setup For 21 Feb 2024 Bullish-Above 47150 Invalid-Below 47040 T- 47640 48130 Bearish-Below 46780 Invalid-Above 46890 T- 46245 45640 BANKNIFTY has closed on a bullish note with 1.2% gain today. Since this weekend we have been discussing about 46600 breakout in daily TF, chart was also shared in the weekend. Today breakout happened finally. Yesterday we discussed that above 46720 there can be a good up move. So has happened, gave a move till 47130. Tomorrow once again we can expect continuation of today's daily TF breakout. 46300 will be Sl for this bullish breakout trade if considered. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 47150 then we will long for the target of 47640 and 48130. For selling we need a 15 Min candle close below 46780. T- 46245 and 45640. 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 prediction for tomorrow 21 Feb 24As we have been discussing, Banknifty double bottom pattern nature in a couple of days. Today, it has broken successfully to the upside. Now, if we look at the chart data: The market has broken the double bottom neckline to the upside. There is a higher chance for the market to go upside down. The market path for now is clear till 47500. There is a resistance trendline at 47500, which might hold the market for a bit. If we look at OI data: PCR = 1.55 indicates the market's super bullishness. There is only a little CE writing at higher levels till 47500. The market is now in bulls control. 47000 is MAXPAIN. Once the market momentum starts, it will go directly to 47500. I expect the market to go bullish till the resistance trendline. Reasons: Price> EMAs show the market is having bullish sentiments. RSI > 60 shows the market is in a bullish region. Price> VWAP shows the market is bullish and has a balanced Price with volume. OI data PCR = 1.55 shows the market is in full bull's control right now. Also, 47500 will be providing the next resistance in the market, which is also the resistance trendline. Verdict: Bullish Plan of action: Sell 47100 PE (hedge it with a 30 rs premium)
NSE:BANKNIFTYLong
by finnova_