BANKNIFTY Intraday Trade Setup For 04 Oct 2023 | Daily AnalysisBANKNIFTY Intraday Trade Setup For 04 Oct 2023
Bullish-Above 44440
Invalid-Below 44330
T- 44625 44815
Bearish-Below 44240
Invalid-Above 44350
T- 44000 43755
BANKNIFTY has closed on a bearish note with 0.425% cut today. It opened flat and sell triggered as per trade setup but is was not at all tradable as the 1st 1 Min candle itself was very big and the 15 Min breakout candle was too big which making the RR worst. After the 1st 15 Min candle it just consolidated between 200 points range. 10 o'clock range was also untouched. Tomorrow on a flat opening it can show a good downside move below today's low. Only thing we have to be alert about is morning star at 44180 breakout. For bullish momentum to lift it has to sustain above 44440 and we will consider this in the 2nd breakout attempt.
Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 44440 then we will long for the target of 44625 and 44815.
For selling we need a 15 Min candle close below 44240. T- 44000 and 43755.
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.
Bankniftylevels
BankNifty levels - Oct 4, 2023Utilizing 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.
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#October3 direction and levels for banknifty"Good morning, friends! As of October 03, the global market sentiment is slightly negative (based on the Dow Jones), while our market trend is moderately bullish. It may open neutrally or with a slight gap down. The market structure suggests a ranging market, so it may move accordingly. On the other hand, if it breaks the range, either to the upside or downside, then we can expect a minor price movement."
Banknifty TradeSetup for 29-09-2023BankNifty important levels to watch are as follows
#Support: 44345
Sell below: 44345 only on 15 minute candle closure below the level.
Target 1: 44275
Target 2: 44160
Target 3: 44960
#Resistance: 44465
Buy Above: 44465 only on 15 minute candle closure Above the level.
Target 1: 44540
Target 2: 44660
Target 3: 44850
#Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital.
Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
#If you are Unable to trade properly and dissatisfied with your manual trading results due to busy schedule or "Fear & Greed" emotions Algorithmic trading can be the most useful solution kindly follow us and join us using details mentioned below the idea.
#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
BANKNIFTY Intraday Trade Setup For 03 Oct 2023BANKNIFTY Intraday Trade Setup For 03 Oct 2023
Bullish-Above 44760
Invalid-Below 44650
T-45040 45270
Bearish-Below 44490
Invalid-Above 44610
T-44248 44000
BANKNIFTY has closed on an absolute flat note last week. Previous week it was discussed that 'a base formation may happen near 44500 zone and probability of a sideways momentum is high after an parabolic (down) move'. 5 out of 7 last sessions it closed exactly near 44600. After consolidation now time for a directional move on last week's range (44180-45000) breakout. Major Weekly levels are 44400 and 43600. In hourly TF 44760 is a bullish reversal level and 44180 is a bearish continuation level.
Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 44760 then we will long for the target of 45040 and 45270.
For selling we need a 15 Min candle close below 44490. T- 44250 and 44000.
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.
Banknifty BuyMonday's market is unpredictible.
cauz, market did take up selller lequidity & buy got stoped out ( profit bookig and traling SL)
there are only sellers left in the market but not freash selling position
so, market does't have any money to go ethir way
so, market will trap every retailer both who will look for selling and buying
best possible situation now is market will open gap up and then trap buyer then comes down to take sellers money then give a big cendel upside to take out everybody
less possible situation market will open low and take out all the buyer then the as sellers come it will take there Sl and continue downward trand
but if market opens nutrul then totally avoid trading cauze last 3 days ends in consolidation
so market has high theta and low IV. could trade if market crosses my levels in high lequidity
As, For MY VIEW Looking to buy in first 2 to 3hours then watch Price Action
BankNifty levels - Oct 3, 2023Utilizing 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!
29th Sep ’23 - W pattern on 1hr TF - PostMortem on BankNiftyBankNifty Analysis
The main reason Nifty50 moved up instead of falling was BankNifty. The opening was strong and gain BN held its ground. Today’s low much higher than yesterday’s close.
From that level we rallied 408pts ~ 0.92% to hit a high of 44756. Unlike N50, BN retested yesterday’s high and then reversed from there. My report yesterday was on the bearish side - but today’s price action is advising me to go neutral.
The intraday move on NiftyIT should not go unnoticed - we climbed an impressive 1.59% ~ 501pts. Meanwhile RELIANCE also started contributing heavily between the 10.45 to 13.30 period. Overall it was a strong rally but was cut short at 14.30
On the 1hr TF BankNifty has made a W pattern which is seriously challenging the bear run. For the next working day i.e Tuesday I wish to go with a neutral stance and then modify to bullish if we take out the 44860 in the morning session.
BANKNIFTY Intraday Trade Setup For 29 Sep 2023BANKNIFTY Intraday Trade Setup For 29 Sep 2023
Sell_1- From 44560
Invalid-Above 44670
T- 44300 44000
Sell_2- Below 44240
Invalid-Above 44350
T- 44000 43755
BANKNIFTY has closed on a complete bearish note with 0.64% cut today. It was a bit confusing and wild till 10 o'clock range was safe. Buy triggered as per trade setup which hit 110 points sl. Later sell triggered below 44490 and 10 o'clock range also broke downside and gave a decent move till 44250. However momentum was a bit messy compared to NIFTY and other indices. Tomorrow once again it can show some bearish move below today' low. 44560 will be a level to short in case of pullback or gap up.
Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes below 44240 then we will short. T- 44000 and 43755.
In case of a gap up , 44560 zone will be a good place to short. T- 44300 and 44000 below 44240.
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.
Banknifty Tradesetup For 28-09-2023BankNifty important levels to watch are as follows
#Support: 44620
Sell below: 44620 only on 15 minute candle closure below the level.
Target 1: 44550
Target 2: 44430
Target 3: 44320
#Resistance: 44735
Buy Above: 44735 only on 15 minute candle closure Above the level.
Target 1: 44800
Target 2: 44925
Target 3: 45000
#Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital.
Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
#If you are Unable to trade properly and dissatisfied with your manual trading results due to busy schedule or "Fear & Greed" emotions Algorithmic trading can be the most useful solution kindly follow us and join us using details mentioned below the idea.
#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
#September29 direction and levels for #Banknifty"Good morning, friends! As of September 29th, the global market sentiment is neutral (based on the Dow Jones), while our market trend is bearish. It may open neutrally or with a slight gap up. If it subsequently breaks yesterday's low, we can expect a correction to continue with minor pullbacks. On the other hand, if the gap-up sustains, we can expect a ranging market. However, if the gap-up structure is solid, it may experience a rally, or if it sharply rejects the 38% resistance level, we can anticipate a correction."
banknifty buyAs market did't showed any bearish pressure and a slow down movement & market did't trapped any buyers today after opening
So, as there are less sellers the market will grab sellers lquidity to go up
So, theres no lquidity for the market to go down
So 44000 area will act as a major support for buyers and also a trap zone for the buyers wait for price to close below 44000 area and then look for an opertunity to buy.
market will start down tomorrow to take the sellers lquidity and to stop out buyer
then market will continue a buying side rally. ( at least need 1 expairy )
but if sellers dose not come and market reverse itself before touching 44000 then a buyers liquidity take will start a bear rally.( at least need next week )
but as for tomorrow only looking for buy.
BANK NIFTY- Target Levels- FRI-29.09.23Bank Nifty Spot Price : 44301. - INDIA VIX SPOT Price : 12.82. -
Nifty Daily Range : 44004 To - 44598 -
Watch Option Strike : 44500 CE
Draw & Watch The Target Points : 206--- 309--- 342--- 429--- 515--- 600---- 686---- 772 +++
Watch Option Strike : 44500 PE
Draw & Watch The Target Points : 152--- 228 --- 254---- 317--- 381--- 444---- 508---- 571 +++
Entry Point... & Stop Loss... & Target Point ...Is Yours...
In UpTrend (CE Buy).. Or DownTrend (PE Buy).. Every Target Point Is a Buy Entry Of After Small Retracement. Please Check. (Watch 5 Days See My Target Levels Is Accurate Or Not)
I Am Not Sebi Registered Analysis, This Is Education Purpose Only.
Dear Followers.. Trend Is Our Friend..
1. Draw The Lines In Your Trading View.. Then Only You Understand My Statistical Startegy.
2. Kindly Watch My Break Even Point. Every Day..
3. Above The Break Even Point.. Resistance Break.. UPTREND Starts.. Buy CE..
4. Below The Break Even Point.. Support Break.. DOWNTREND Starts.. Buy PE..
5. After Retracement.... Stop Loss is Above Or Below Break Even Point..
6. Stop Loss Is Must..
7. Watch 5 Mins Time Frame.. & 15 Mins Time Frame..
8. In Future i Analysis & Focus On Option Strike - Entry, Target, Stop Loss. Also..
9. Buy At Low.... Sell At High.... Is The Concept For Day Tradings..
Don"t Enter Blindly.
1. We Focus On Our Daily Analysis..
2. Combination Theory Of Delta, Gamma & Thetta,.
3. Selection Of OI Analysis & Prediction Of Entry, Targets, & Stop Loss..
4. We See 4 Types Of Fibinacci Retracement Levels..
(1.High To Low Fib Level, 2.Low To High Fib Level, 3.Long Fib Level & 4. Short Fib Level),
5. Techninal View On Break Even Point..
6. Wait For Support Breaking or Resistance Breaking.. That Time Watch The Market Carefully..
7. Market Moves in UpTrend or DownTrend..
8. Kindly Watch Both The Nifty Target Levels & Bank Nifty Target Levels in your Trading View..
Its Most Important For Daily Tradings..
Kindly Follow My Channel & Like Your Support in My Idea.
BY : newsbharathi27040 / market1tomorrow
28 Sep ’23 Post Mortem on BankNifty - Quarterly, Monthly, ExpiryBankNifty Quarterly Report
Banknifty is down -123pts ~ 0.28% in this quarter i.e between 28th Jun 2023 to 28th Sep 2023. It had formed a head and shoulders pattern till 16th Aug - but there was no followthrough. A second H&S pattern is underway as the first shoulder formed on 24 Aug and the head by 15th Sep. If you look at the heads of both H&S together - it resembles a double top formation as well. BN has bucked the trend this quarter and closed in loss vs nifty which went up by 2.89%. During this period we hit a new ATH of 46369 on 21st July which is still untested.
BankNifty Monthly Report
In the current month i.e between 31st Aug to 28th Sep 2023, BankNifty is up 214pts ~ 0.49%. The driver of the rally being the I-CRR news which helped BN overcome a falling wedge formation.
BankNifty Daily Report
Recap from yesterday: “Banknifty is still in bear territory and has to climb above 45399 to regain the bullish bias. Looking at the chart, I am not in favor of going neutral too — maybe the length of RED candles is clouding my judgment.”
Going today with a bearish view looked totally stupid till 10.20 after which the play went according to the script. Yesterday’s up move might have prompted many analysts to change their view from bearish to bullish. I was not convinced with the move yesterday - in fact, I was totally frustrated as could not find a genuine reason why we rallied. After seeing the fall today - I feel quite relieved.
Intraday we fell 1.14% ~ 508pts - but we did not break yesterday’s swing low of 44182. Also the closing was only 0.64 ~ 287pts down compared to Nifty which closed with losses of 0.98%. I must say Banknifty held its ground quite strong today. Even though the India VIX went up 10.68% today - the implied volatility on BN was far lesser. A look at the PE option prices reveals the story - none of the traders were expecting more than 500pts fall today.
On the 1hr chart I am still bearish with the first target of 44068. The stop and reverse level will be 44860 above which I will be forced to change the stance to neutral. If BN manages to break 44068 tomorrow the next level in play will be 43600 which is also the swing low of 16th Aug.
BankNifty levels - Sep 29, 2023Utilizing 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!
#September28 Direction & levels for #Banknifty"Good morning, friends! As of September 28th, the global market sentiment is neutral (based on the Dow Jones), while our market trend remains moderately bullish. It may open neutral, slightly gap-up, or even gap-down. After the market's open, if it breaks or consolidates around the immediate resistance, we can expect a pullback continuation with minor corrections.
On the other hand, we can anticipate a correction if the market rejects the immediate resistance, even if it initially experiences a pullback (running flat variation). However, that rejection should break the reversal Fibonacci level of 38%. If it breaks that level, we can expect a minimum correction of 61% to 78% Fibonacci correction. Additionally, this variation also applies in the case of a gap-down opening"
banknifty sell As today market trapped sellers & and ended at previous day close
So, there's no lquidity as sellers got out before market can take there money
As market ends in a consolidation means there's not enogh money to go up or down
Best probabily is market will open high tomorrow to trap buyers and gain their lequidity to come down and then take major seller money to start the bull market
But market does't have much time to do above thing
So, a bear market where market will take majority of sellers lquidity sounds probeble
If anyone need nifty50 psychological analysis (price in the chart look on your own) comment below
BANKNIFTY INDEX MAGICAL LEVELS FOR 28-09-23
The above plotted levels on the chart should be considered only when BANKNIFTY opens flat on 28-09-2023.
If BANKNIFTY opens GAP-UP or GAP-DOWN on 28-09-2023 then the following calculations must be considered:
Level 1 = OPEN PRICE (28-SEP) -92.20
Level 2 = OPEN PRICE (28-SEP) - 250.35
Level 3 = OPEN PRICE (28-SEP) - 109.20
Level 4 = OPEN PRICE (28-SEP) + 92.20
Level 5 = OPEN PRICE (28-SEP) + 250.35
Level 6 = OPEN PRICE (28-SEP) + 109.20
Level 7 = (Level 1 + Level 2) / 2
Level 8 = (Level 4 + Level 5) / 2
High Probable Reversal Levels: The yellow, purple, and white lines plotted on the attached chart depicts the high probable reversal levels.
DISCLAIMER: This published idea is only for educational purpose.
27 Sep ’23 Post Mortem on BankNifty - Still in bear's territoryBankNifty Analysis
For BankNifty I had a bearish view today. The day started exceedingly well with a gap down and then a fierce 479pts ~ 1.07% fall w.r.t the previous close. Just like Nifty, BankNifty also started rallying right at 10.35.
BN ended up gaining 483pts ~ 1.1% and ended the day with just -35pts loss. Just like I mentioned in the Nifty analysis above, I wasn't planning for this reversal move - I was just like a deer caught in headlights.
Banknifty is still in bear territory and has to climb above 45399 to regain the bullish bias. Looking at the chart, I am not in favor of going neutral too - maybe the length of RED
candles is clouding my judgment. 44068 is the main support to watch out for.
BANKNIFTY Intraday Trade Setup For 28 Sep 2023BANKNIFTY Intraday Trade Setup For 28 Sep 2023
Bullish-Above 44670
Invalid-Below 44560
T- 45040 45270
Bearish-Below 44490
Invalid-Above 44600
T- 44200 43915
BANKNIFTY has closed on a flat note today after a huge roller coaster ride today. One more time let me just remind you all it was discussed 44500 is going to be base zone in the weekend outlook. Also it was said that probability of sideways momentum is very high after a parabolic move. 4 out of last 5 sessions it has closed exactly near 44600. Index looks ready for a bounce now. Also sentiment will change from sideways bullish to sideways bearish once it closes below 44500 in daily TF.
Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes above 44670 then we will long for the target of 45040 and 45270 above 45050.
For selling we need a 15 Min candle close below 44490. T- 44200 and 43915 below 44170.
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.
BankNifty levels - Sep 28, 2023Utilizing 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!
Banknifty daily analysis for 26/09/23.A doji is formed on the daily charts and now there is a confusion in the market where it will go after testing the recent high.
Banknifty has closed gaining 150 points but nifty remained silent and closed flat.
On the hourly charts, there is a moving averages cross over and it taking resistance from the levels.
There was a both side movement today and has consolidated in the second half of the session.
Support :- 44600, 44420
Resistance :- 44890, 45110
Wait for the price action near the levels before entering the market.