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Bankniftylong

#BANKNIFTY - 11 NOVEMBER !!NSE:BANKNIFTY #NIFTYBANK ⚡ Observe, understand, then implement 👍🏻 Strategy name : Higher Highs and Higher Lows This strategy is commonly used in trending markets to identify potential buy opportunities during an uptrend. Key Components of the Strategy: 1. Higher Highs and Higher Lows: In an uptrend, price action creates successive peaks (higher highs) and troughs (higher lows). These are signals of bullish momentum, where buyers are consistently pushing prices higher. 2. Trend Channel: The image shows a channel formed by connecting the higher lows with a trendline (lower boundary) and higher highs with another trendline (upper boundary). This channel helps traders identify the price range within which the trend is moving. 3. Entry Points: - The strategy suggests buying near the trendline at each higher low, which represents a potential support area within the trend. In the image, these points are marked as "BUY" or "ENTRY." - Buying near these higher lows increases the chance of entering trades at favorable prices during pullbacks in the uptrend. 4. Profit Targets: - Profit targets are set near the upper trendline or at subsequent higher highs. In the image, these points are marked as "PROFITS" with checkmarks. - This method helps traders secure profits as the price reaches the higher end of the channel. Managing the Trade: - After the first entry and a successful profit, traders can re-enter the market on the next pullback to a higher low. - Stop losses are typically placed below the previous higher low to manage risk in case the trend reverses. Summary: This strategy aims to capture gains in a trending market by entering trades at higher lows and exiting near higher highs within a channel. It works well in a stable, consistent uptrend but requires careful monitoring of trend changes to avoid potential losses if the trend breaks down. Ps note : I'm not SEBI Registere 🙏🏻 Any queries @thetradeforecast 🇮🇳
NSE:BANKNIFTYLong
by thetradeforecast
1
Bank Nifty Reversal Trade-Setup with Great RRBank Nifty is trading at big demand zone and and we see significant potential for an upside move for several reasons: Reasons for Going Long in Bank Nifty: 1. Ichimoku Daily Cloud Bottom 2. Ichimoku Weekly KS Support 3. Bullish MACD Divergence on the 1-hour time frame 4. Completing Triple Correction—WXYXZ (considering a truncated scenario; otherwise, BN might aim for the 127% and 161.8% levels mentioned in the earlier post) CMP: 49,718 Expected Targets: 51,300, 51,700 Stop Loss: 49,590 Disclaimer : We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:BANKNIFTYLong
by WaveMoku
4
A Breakout in HDFC can take Bank Nifty to one more High? July 243rd July, 2024: Bank Nifty Elliott Wave Analysis The impulse that started on June 4th after the election day crash is still ongoing and progressing through waves 1, 2, 3, 4, and 5. Bank Nifty has completed waves 1, 2, and 3, and currently, we are in wave 4 (at present, we're not considering further extension scenarios of wave 3). HDFC Bank & Bank Nifty: HDFC Bank has a 28.38% weightage in the Bank Nifty index, and currently, HDFC is standing at a multi-year breakout level. We shared the HDFC Bank analysis a few weeks ago; please check the link below. [ Link to HDFC Bank Analysis ] Buy Entry Points: Wait for a good dip near the 51600-51800 range and check if the price forms a W pattern and gives a breakout above the TS, KS & Cloud in Ichimoku. Exit Points: We have to wait for the wave 4 low point to determine the wave 5 target. We will update the status here and in our Telegram group: t.me Stop Loss: 100-150 points below the wave 4 low point. We will update once we get confirmation. The risk-to-reward ratio will be great because wave 5 is expected to cross 53K. Note: This trade is not active yet. Confirmation is always good for entry and exit. Disclaimer: We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:BANKNIFTYLong
by WaveMoku
1
Bank Nifty Reversal Trade From Demand Zone, Small SL 52030Please refer the chart, we have explained everything(wave counting, price action, channel etc). We were short yesterday and booked profit near our target. Currently Bank nifty is holding this channel and price is bottoming out so we are selling PE with OTM Pe edge. Our SL is small and it will hit if price goes down again in extension mode. Stop loss is 52030 Targets; 52511 and 52650 Disclaimer: We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions. Please follow us on Telegram for real time updates, it's FREE - t.me
NSE:BANKNIFTYLong
by WaveMoku
Banknifty prediction for Today 24 MayAs we discussed, Banknifty gave a very nice momentum with huge bullishness. If we look at the chart now: The market has broken the wedge pattern to the upside, and it is also continuously making HH and HL. The price is trading above EMAs, which shows strength in the price. Also, RSI > 60 shows huge bullishness in the market. If we look at the OI data: PCR = 1.20, which has risen from 0.73, shows huge PE writing on the Lower side, indicating a bullish structure in the market. The market does not have much CE writing on the higher side. That makes bulls more powerful. Lower levels have good support levels, as shown in the OI chart. I am expecting a sideways market to go bullish. It might take some sideways consolidation, but I am overall bullish on the market. Reason: RSI > 60 shows the market is having very good strength. Price > EMA(13,200), which indicates powerful bull market. The market has broken the pattern to the upside while making HH and HL. PCR = 1.20 shows a heavily bullish nature in the market. price > VWAP shows weak market structure. Verdict: Sideways or Bullish Plan of action: Sell 48600 PE and 49100 CE (Hedge it with 15/- premium) Note: Exit the opposite either side it breaks
NSE:BANKNIFTYLong
by finnova_
BANKNIFTY prediction for tomorrow 16 May 2024Banknifty has been Bearish for the last two weeks. Now, Bank Nifty is in the support zone. If we look at the chart now: Banknifty has successfully broken the bearish trend to the upside. It gave a nice V-shape recovery. But big players have not accumulated the quantity, and that's why there was huge volatility yesterday. The market has taken support at Fib 0.38 of the current minor trend. It is in range bound 47578-47935. if it breaks 47935 to the upside, the market can form a higher high till 48432. If we look at the OI data: PCR = 0.86, which shows that next week's market is bullish. That's why big players are accumulating the quantity at lower levels. There is only a significant level of resistance at 48000—other than that, all levels have very normal CE and PE writing. I am expecting the market to go bullish for next week's expiry and sideways for tomorrow's session : Reasons: RSI is 40-60 shows the market is going to be sideways. Price ~= EMA (13) but less than 200 EMA, which shows the market still has to break 200 EMA to go bullish. PCR = 0.86 shows a bullish sign for tomorrow. But as it is the 1st day of the expiry session, it will not make much difference. The market taking support from the Lower channel of Vwap means bulls are getting strength. The market has already given a breakout after little accumulation; soon, it will shoot to the upside. Market has been providing good volume at buying candles shows upcoming bullish market structure. Verdict: Sideways or Bullish Plan of action: Sell 48000 CE and Sell 47600 PE (Hedge with 20/- Premium)
NSE:BANKNIFTYLong
by finnova_
BANKNIFTY - GOOD TIME TO CREATE LONGS ?Symbol - BANKNIFTY BANKNIFTY gave a breakout of ATH & touched 49000 level & then exhibited some profit booking due to global news flow. It is currently trading at 47335 which is a good support area. I think BN will take support at these levels & will show a reversal from here. Hence I am creating long positions in BN futures at CMP 47335. I will add more position between 47080 - 47200, if comes. My SL would be below 47000 & Targets I'm looking for are 47900 - 48470 - ATH.
NSE:BANKNIFTYLong
by akshit_official
11
BankNifty Bullish Move Toward All Time High If you observe the chart above, it clearly indicates that it's forming higher highs and higher lows. A few days ago, on January 17th, 2024, there was a significant gap down below the resistance level of 47520. Many times it attempted to break this resistance level, but today it finally broke through with a strong bullish candle. Therefore, we can confidently say that it's likely to reach all-time highs. Note: I will maintain charts in a simple way. Only those with basic knowledge of technical analysis will be able to understand what I am posting.
NSE:BANKNIFTYLong
by Trade_with_Bhanu
30th Nov ’23 - BankNifty stalled today, not sure of the reasonBankNifty Today Analysis From yesterday’s analysis, I was long into BankNifty and was quite surprised to see the breach of support level 44542 by 09.45. The candle that crossed this SR line took out 154pts, luckily no damage was done and we found a safety net at 44280 levels. 5mts chart link - click here I have not fully subscribed to the idea that the opening fall was due to the over-buying yesterday. Anyway, the bears were not able to overpower the bulls today, if so then we should have retested the 44063 levels. I do not plan to change my stance to neutral until that happens. 1hr chart link - click here The exit polls declared after hours today might show its impact in the forenoon session. I did not carry forward any position for tomorrow and decided to play as it is after the opening. If Banknifty is not able to accelerate to the next resistance of 45399, it could pose some trouble to the current trend. We all know how important the banks are for Nifty’s ATH recoup. -- BankNifty Monthly and Weekly Analysis BankNifty gained an impressive 1023pts ~ 2.36% over the last week, whereas the monthly gains of 1446pts ~ 3.36% were sub-par compared with Nifty. One of the reasons could be attributed to the news event on 17th Nov that took out some bullish momentum on banks.
NSE:BANKNIFTYLong
by viswaram