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Bankniftyoption

Bank Nifty 26-06-2024 AnalysisHello Traders, Welcome to SriTrader5121 ______________________________________ Overall view for the day Buy - with the support of Important_level Sell - with the rejection of Important_level Major Support - Around 519## Major Resistance - Around 529## See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – SriTrader5121 _______________________________________ Rules to follow... 1) Wait for confirmation. 2) See the price action at our zones. 3) Trade with Strict Stop Loss. 4) Trade with Small Quantity. 5) Take entries based on Support & Resistance Zones. _____________________________________________________ Please take the trade according to the zones marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries based on your own analysis and risk. This is for education purposes and a helping hand to learn trading in the live market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels / Zones. So one can book profit / loss based on your risk-reward or considering price action at the respective zone and how it works near that zone. I hope you all like my analysis. Follow me to get regular updates. Please do share your thoughts in the comment section. Please Hit a LIKE, it motivates me to do analysis and share with your trading friends.
NSE:BANKNIFTY
by SriTrader5121
14 Feb ’24 — BankNifty takes out the resistance and goes neutralBankNifty Analysis - Stance Neutral ➡️ BankNifty does the impossible today, the reason we are saying this is because, despite a UP day yesterday, BN was unable to get past the resistance of 45399. See what happened today - we opened gap-down and by 10.55 we were back at the resistance level of 45399. The rejection made sense then as the mood was still bearish and little we did know what the remainder of the day had in store. The elongated encircled region is when BN was still negotiating in and around the SR level. Once it got past that - the next test was at the purple descending trend line (which we drew yesterday). That was also kind of accurate as on 3 instances we had a contact. 4mts chart The climb of 670pts from 14.07 to 14.39 made all the difference today. It drove our algo into a tailspin and ensured that we booked the highest intraday loss till now. You might already know most algos prefer to play straddle or strangles and today being the expiry day created more trouble. The calls when sold were damn cheap and when the stop loss got hit - it appreciated more than 100 to 200%. Yesterday we pointed out the unusual skew in the PUT and CALL premiums, the calls staying cheap. Today we fell victim to that. 63mts chart We have another W pattern today and since the resistance is breached, it is a good sign for the bulls. Overall our stance is now revised to neutral from bearish. What is more interesting is that BN has a perfect at-par close with the last expiry i.e. 7th Feb. The first thing we will be looking out for tomorrow is to see if there is follow-up buying or whether what we witnessed today was just a blip. Algo Trading Our BankNifty algo trades ended today with a loss of 11805.
NSE:BANKNIFTY
by viswaram
06 Feb ’24 — Head and Shoulders Inverse forming on BankNifty?BankNifty Analysis - Stance Neutral ➡️ Is BankNifty bearish? - absolutely not. Is it bullish? It's too early to say. One thing is sure - there is some weakness impacting the banks. Are the unsecured loans haunting them? None of the balance sheets from the quarterly results are bleeding - but something is still bothering them. Today was a fine day for the banks to support Nifty’s rally - still, the banks decided to stay on the bench. 4mts chart One thing is sure, the fall looks like arrested (for now). If Nifty takes out the ATH without the support of the banks again, then it is some indication that the Information Technology players may have taken over as the new torch-bearers. There are exactly 6 NiftyIT companies in Nifty50 as there are 6 banks in BankNifty. NiftyIT weight is 14.18% vs 33% of BankNifty - definitely, BN has lost some ground and IT has gobbled it. 63mts chart The perfect Inverse Head and Shoulders pattern has not formed yet - we still have 20% of the move remaining. We will closely monitor if BN chooses to follow this path as it is a bullish sign. The first clue came in when BN defended its support at 44542, the 2nd came when 45399 was defended. Tomorrow is the weekly expiry and we hope to see some actions - at present, the OTM strikes are not that juicy - if BN decides to move, we could expect some mispricings to pop in. Algo Trading Our BankNifty algo trades ended today with a gain of Rs8121.
NSE:BANKNIFTY
by viswaram
Bank Nifty - 24/01/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 24/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 45658 – 45685 Important Support and Resistance for the Day... Support - Resistance - Support-1: 44885 Resistance-1: 45358 Support-2: 44575 Resistance-2: 45660 Support-3: 44410 Resistance-3: 46050 Support-4: 44252 Resistance-4: 46400 ____________________________________________ 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 0.5 -> 0.5% Swing 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 IMP -> Important R@1, R@2, R@3... -> Resistance-Zones S@1, S@2, S@3... -> Support-Zones 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 Blue Color Text (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals)
NSE:BANKNIFTY
by SriTrader5121
Bank Nifty - 18/01/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 18/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 46630 – 46630 Important Support and Resistance for the Day... Support - Resistance - Support-1: 45975 Resistance-1: 46365 Support-2: 45830 Resistance-2: 46610 Support-3: 45660 Resistance-3: 46950 Support-4: 45475 Resistance-4: 47220 ____________________________________________ 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 0.5 -> 0.5% Swing 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 IMP -> Important R@1, R@2, R@3... -> Resistance-Zones S@1, S@2, S@3... -> Support-Zones 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 Blue Color Text (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals) If market open as a FLAT and moves to UP - SIDE then BUY with the Support of R-1 and SELL with the Rejection of R-1. (Or) If market open as a FLAT and moves to DOWN - Side then BUY with the Support of S-1 and SELL with the Rejection of PDL. Possibility 2: GAP-UP If market open as a GAP - UP and moves to UP - Side then BUY with the Support of PDH and SELL with the Rejection of PDH. (Or) If market open as a GAP - UP and moves to DOWN - Side then BUY with the Support of IMP and SELL with the Rejection of IMP. Possibility 3: GAP-DOWN If market open as a GAP - DOWN and moves to UP - Side then BUY with the Support of IMP and SELL with the Rejection of IMP. (Or) If market open as a GAP - DOWN and moves to DOWN - Side then BUY with the Support of W-R and SELL with the Rejection of W-R.
NSE:BANKNIFTY
by SriTrader5121
Bank Nifty - 11/01/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 11/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 47190 – 47220 Important Support and Resistance for the Day... Support - Resistance - Support-1: 47220 Resistance-1: 47430 Support-2: 47010 Resistance-2: 47600 Support-3: 46810 Resistance-3: 47855 Support-4: 46500 Resistance-4: 48000 ____________________________________________ 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 0.5 -> 0.5% Swing 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 IMP -> Important R@1, R@2, R@3... -> Resistance-Zones S@1, S@2, S@3... -> Support-Zones 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 Blue Color Text (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals) If market open as a FLAT and moves to UP - SIDE then BUY with the Support of R-1 and SELL with the Rejection of R-1. (Or) If market open as a FLAT and moves to DOWN - Side then BUY with the Support of S-1 and SELL with the Rejection of PDL. Possibility 2: GAP-UP If market open as a GAP - UP and moves to UP - Side then BUY with the Support of PDH and SELL with the Rejection of PDH. (Or) If market open as a GAP - UP and moves to DOWN - Side then BUY with the Support of IMP and SELL with the Rejection of IMP. Possibility 3: GAP-DOWN If market open as a GAP - DOWN and moves to UP - Side then BUY with the Support of IMP and SELL with the Rejection of IMP. (Or) If market open as a GAP - DOWN and moves to DOWN - Side then BUY with the Support of W-R and SELL with the Rejection of W-R.
NSE:BANKNIFTY
by SriTrader5121
Bank Nifty - 02/01/2024 - LevelsHello Traders, Welcome to SriTrader5121 Bank Nifty - 02/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 48234 - 48250 Possibilities of Today market open... Support - Resistance - Support-1: 48044 Resistance-1: 48134 Support-2: 47944 Resistance-2: 48235 Support-3: 47877 Resistance-3: 48297 Support-4: 47767 Resistance-4: 48297 Big-Support: 47500 Big- Resistance: 48448 _______________________________________________ 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 0.5 -> 0.5% Swing 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 IMP -> Important R@1, R@2, R@3... -> Resistance-Zones S@1, S@2, S@3... -> Support-Zones 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 Blue Color Text (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals)
NSE:BANKNIFTY
by SriTrader5121
11th Dec ’23 - BankNifty stalled today after hitting new ATHBankNifty Analysis Banknifty disappointed a bit today. After a shaky start just like Nifty, we hit a new ATH by 10.23 - 47588. From there we cooled off a little bit and then closed flat. From the last post-mortem we hoped that it would be a day of out performance today and sadly the price action today did not live up to that expectation. 4mts chart link - click here BankNifty was staying positive most of the day, but FinNifty was dipping below water intermittently. Was it because the banks wanted some rest today after the chilling performance on Friday? I thought they got the weekend for ample rest. 63mts chart link - click here Conditions are still looking favorable for BankNifty’s breakout-dance. Maybe it could take a day or two to get some breath. Since we have FinNifty expiry tomorrow, the price action may not be purely natural. FinNifty option sellers would prefer to keep it range-bound. I wish to maintain the bullish stance on BankNifty tomorrow also and if we fall or close below 47000 level, I may have to take a pause and change stance to neutral.
NSE:BANKNIFTYLong
by viswaram
4th Dec ’23 - BankNifty has more firepower than Nifty for upmoveBankNifty Analysis The real reason for the outperformance on Nifty50 = BankNifty today. In the last newsletter, we discussed how relevant BankNifty’s next move would turn out to be. Would you believe we took out the ATH today and the new value is 46484.45? 5mts chart link - click here BankNifty went on to take out the 45399 resistance in the gap-up open itself. The momentum was so strong that it was not retested at all. We went flat for a bit but started trending after 12.10. The total gains today was an astonishing 1617pts ~ 3.61%. The options premiums were going crazy today - even the OTM put options. Such was the euphoria today. NiftyIT was not participating at all in the rally today, but I am sure no one would have noticed that as it was overshadowed by BankNifty’s outperformance. 1D chart link - click here BankNifty has just managed to climb back up to the double top pattern set on 21st July & 15th Sep. Since today’s green marubozu looks pretty strong, we can safely assume we are past that threat. Momentum-wise, BN has more firepower than Nifty for the immediate short term. I prefer to stick with my long stance until 45399 support level is taken out.
NSE:BANKNIFTYLong
by viswaram