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Bankniftyoption

FASP levels for Bank Nifty 10/03/2023The FASP for BankNifty is listed for 10-03-2023. 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:BANKNIFTYShort
by SathishChandrasekaran
PostMortem on BankNifty Today & Analysis of 28 FEB 2023Today was relatively flattish trading day except may be the period 13.50 to 14.10 when we had a minor scare ! There are 2 major news, one acting on the bull side & the other bearish for NSE:BANKNIFTY tomorrow ! HDFC & NSE:HDFCBANK merger news 2. India's GDP rises to 4.4% vs 4.6% estimates India's GDP Growth Slows To 4.4% In Q3; Pegged At 7% For Full Year So the trade today has set up a perfect stage for tomorrow, i may not know the direction but i seriously think we might be able to get a trend. Today's open was inline at 40302 and stayed above the support line, infact we had a good range bound trade for 4hr 40mts. This also reflected quite well with the FinNifty as well & the expiry trading would have worked out quite well for the latter. NSE:BANKNIFTY was not at all looking in the mood to rally or break today - it seemed like there was so strong momentum in either direction. But by 13.26 i almost thought we will have a good fall & posted the same in bank nifty minds in TradingView "i am ready if NSE:BANKNIFTY is planning to fall" The fall lasted only 231pts and briefly broke the support line (not a conclusive break still), before recouping the losses & returning to where it started. During the close i felt there was a huge volume traded on NSE:ICICIBANK NSE:SBIN NSE:AXISBANK NSE:KOTAKBANK . Maybe its related with the month end closing or rebalancing - but the spike in volumes seemed like a positional build up or unwinding for me. The volume is one of the reason i feel we could expect a support or resistance break tomorrow.  Regarding the options premium - we had a good decay today & lack of volatility would have killed the spirits of the option buyers & debit spread takers. Straddlers would have enjoyed trading today ! --- 15mts TF shows a range bound trade (not perfect range, ideally range should be within the support & resistance levels) for 6 days 4hrs now. Those who had positions from 16th feb & went through the fall would be feeling quite uneasy by now. I was hoping for the retest of 39742 lows in this series itself, since there are 2 more days to go i will keep the hopes alive. --- 1hr TF shows a possibility of a double bottom (W pattern), but for this pattern to work the trades breakout. If we have further consolidation then this pattern will not play out well. I havent changed my bearish view for the 1hr TF yet, i still need to see close above the resistance levels to change by opinion. And clearly it doesnt pay to have an opinion - its how we react when markets prove us wrong ! to view the 4 charts in today's discussion visit viswaram. com
NSE:BANKNIFTY
by viswaram
PostMortem on BankNifty Today & Analysis of 27 FEB 2023Surprising price action by NSE:BANKNIFTY today, especially the last 40mts when the bounce from the support took it to the HOD. The preopen rates today was not indicating any hint of green, still NSE:BANKNIFTY hit the resistance in the 4th candle after the gap down open. The first candle it fell to the support level of 39742 & the bounce was good enough! 39742 comes to the rescue again, but today's support is quite something special. NiftyIT and NSE:NIFTY were bleeding today. IT was almost 2.7% down by 10.15, Nifty was down almost 1% - same time NSE:BANKNIFTY was only 0.12% lower.  By 11.15 NSE:BANKNIFTY had hit the resistance again, this time a strong hourly green candle. If we split down in the 5mts TF we had 3 amazing swings today. The second swing of 1.09% ~ 432pts from 10.15 to 11.50 and then a final 40mts rally of 0.56% ~ 223pts that ensured NSE:BANKNIFTY is closing with an overall gains of 1% whereas NSE:NIFTY was still down 0.42% & CNXIT down 1.95%. I really dont know what made NSE:BANKNIFTY outperform the other 2 index today - not remembering reading any change in fundamentals or news events for this surge. --- If we look at the 15mts TF we can see a minor breakout from a 5 day 4 hour session. If we need further bullish momentum we should see tomorrow's trading zone to be well above this range depicted. If we fall back to the range-zone, what just happened today will turn out to be another fake move. --- 1hr TF almost showing a W like pattern (double bottom) right at the support zone. For this pattern to play out as per the text book, further trade has to happen above 40400 levels. Failure to take out the next resistance will look very promising for the bears as they still have the upper hand till 41600 levels. We had a similar W like pattern on 30th Jan - 02 Feb period - but that did not playout mainly because bank nifty was unable to breakout. to see all 4 charts in today's report visit viswaram. com
NSE:BANKNIFTY
by viswaram
PostMortem on BankNifty Today & Analysis of 15 FEB 2023We had that resistance breakout today, a much awaited 41624 break. This makes the coming days exciting - most importantly tomorrow's expiry NSE:BANKNIFTY opened inline at 41674 and made a series of red candles till 09.40, a fall of 0.52% and crucial 41624 SR rejection. From there it made steady gains to take out the SR at 11.20 but only to fail in the next candle. A rise of 0.53% - which means a symmetrical recovery back to the opening levels. From here NSE:BANKNIFTY made a gradual fall till 14.25 ~ 0.55% - this again took NSE:BANKNIFTY back to the LOD. So by now we have had 3 moves in the 0.52–0.55% range by 14.25 What happened after 14.30 was almost magical, i seriously did not think we will take out the 41624 resistance level today also as 5 prior attempts had already failed. But NSE:BANKNIFTY made some stellar vertical like moves aided by ICICI, SBI, Axis & HDFCbk. Final close was well above the SR zone so we can almost confirm the range breakout. Also interestingly there were fresh short writings at PE mostly as positional trade for expiry tomorrow. The surge in volumes in the last 15mts is proof for this. So i assume the sentiment has shifted from negative to neutral yesterday & then to positive by today. Do note that i still have the 41000/40900 debit ratio spread which is currently at loss. --- 15mts TF is confirming the range break and the minor sentiment shift to the bullish side. We have one more resistance to overcome, thats where the brutal selling started. --- 1hr TF, we can now stay away from bearish bets temporarily or atleast till the first support is not broken. Also note the 1hr is not showing bullishness yet - we need a break above the swing high for bullish momentum.  Here we have contradicting signals from the 15mts vs 1hr TF. 15mts saying no more bearishness & 1hr saying not bullish. Ideally its not a bad idea to wait before taking aggressive trades ! --- Among the bank nifty components NSE:HDFCBANK was drifting into the red when the last 1 hr momentum reversed it. NSE:ICICIBANK gains are quite obvious from the chart here, 3 consecutive green candles that powered up the NSE:BANKNIFTY today in last 1 hr NSE:SBIN was able to get out of red with the last 1 hr momentum NSE:AXISBANK also managed to reduce its losses in the same period. NSE:KOTAKBANK was already surging ahead, the last 1hr gave it leg 2 of rally NSE:INDUSINDBK did not participate in the broad based momentum that really helped the other 5 banks in last hour. 8 charts available in today's report at viswaram .com
NSE:BANKNIFTY
by viswaram
FASP levels for Bank Nifty 16/02/2023The FASP for Bank Nifty is listed for 16-02-2023. 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
FASP levels for Bank Nifty 01/02/2023The FASP for BankNifty is listed for 01-02-2023 . 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:BANKNIFTYLong
by SathishChandrasekaran
FASP levels for Bank Nifty 23/01/2023The FASP for BankNifty is listed for 23-1-2023 . 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:BANKNIFTYLong
by SathishChandrasekaran
PostMortem on BankNifty Today & Analysis of 20 JAN 2023Pretty unconvincing price action by NSE:BANKNIFTY today morning esp after US markets SP:SPX fell 0.76%, TVC:DJI 0.76% and NDQ -1% overnight. This is in addition to the fall on 18th. SPX has now fallen consecutively for 3 days from the resistance level of 3991 & now 3945. We hit the resistance of 42573 in the 2nd candle itself and a consistent rally from up there, a total upmove of 0.97% ~ 409pts by 10.40. Infact the 15mts TF were showing all green candles when i felt the options data was not agreeing to the move. The premiums of the CEs were not surging suggesting a further upmove. Nor the ATM & near ATM PE options were surging with volume indicating the lack of option writing. Having an opinion or a view is something & getting it correct pure luck these days - esp with the market conditions now. So from this HOD we started falling and by 14.35 we were convincingly below the SR level - which proved the upmove was fake. There are 2 miracles today The open & close of BN is almost same (42516 & 42514) BN ended the day with gains of 0.42% against all macros & fundamentals. The centre budget is now 10 to 11 days away & we anticipate more price action & volatility once insiders get understandings about taxation, policy changes & other macros. Luckily we can react to what insiders are trading based on the open interest data of options - which will give enough clue. Its the best data the retail trader has got. --- Bank nifty components also behaved quite differently today. HDFCBk and HDFC were lending huge support to the NSE:NIFTY index as well - again the traders were expecting a positional fall in reliance due to results. And due to this compensation the Nifty index did not take a huge beating. NSE:HDFCBANK was rock solid today gaining 1.33% ~ 21pts by 09.25 with good volumes. This gain was maintained throughout the day with no pull back or retracement. HDFCBk is now up 5.79% from the lows set on the results announcement day. NSE:ICICIBANK is still in the range, but the opening candle did have real good volumes mainly for the results that are due tomorrow. From HOD to LOD there was a fall of 1.2% but it never went into negative territory. NSE:SBIN also never went negative today, but a single candle at 14.25 seemed pretty scary. Even though the prior price action shows negativity - today's action shows ability to hold support. NSE:AXISBANK did not oscillate that much today, for a brief period of time it went below water but final close was flattish. NSE:KOTAKBANK did show weakness before the results due tomorrow. Surprisingly the volumes came not in opening minutes but between 10.35 to 10.55. If we consider the previous day's pattern also - its showing bearishness. NSE:INDUSINDBK had a good swing up & down today ~ 2.36% but not as much as we saw yesterday. Also the volumes were half of that of yesterday. --- Confusing chart patterns as of now for 15mts & 1hr TF. 15mts showed a possible breakout from range today forenoon, but its failure has now negated a bullish case. 1hr is not showing any direction at present - for me it looks scary because if it spends time in a range for so much time the breakout or breakdown momentum is going to be so huge. Now the good thing about this is the options premium will be over priced when this happens & its a good time to go fishing premiums !!! To view the 4 charts & 2 tweets today, contact @viswaram
NSE:BANKNIFTY
by viswaram
PostMortem on BankNifty Today & Analysis of 05 JAN 2023 expiryTake a look at the chart below, 5mts TF its a perfect continuation from yesterday - we broke the 1st support at 09.40 and 2nd support at 13.15 in the single leg. And then we had a retracement back to the SR level (yellow dotted lines) and final close there. So what do we infer from the charts today Expiry level positioning worked out very well today, all the option writers of the strikes mentioned in yesterday's article kept the full premium. The negative sentiment in US markets are now reflecting here as well. I am not saying because we dropped 0.81% today. Its because the depth of the red candles has stories to tell. So now we have turned negative for the year - in what what everyone would have thought to be a blockbuster start. --- Of the bank nifty components: NSE:HDFCBANK had a strong red opening candle and then one more at 13.15. Infact the chart pattern is quite similar to bank nifty NSE:ICICIBANK had much more intent going down a drop of 2.22% today of which almost an unchecked fall till 14.05 NSE:SBIN chart pattern may seem bearish thats because it had a gap up opening. But the final close was flattish. NSE:AXISBANK also had a deep fall until 13.25 after which it recovered some ground, but final close at -0.83% NSE:KOTAKBANK had a similar flattish close like SBI but the chart pattern made today shows bearishness again thats because of gap up open. NSE:INDUSINDBK had interesting opening 30mts. A gap up open and fall to flat line, then a rally back to the open level and then a fall below the flat line in 3rd candle. --- 15mts TF has now negated the bullish case by breaking 3 support levels in 2 days. 1hr TF looking good to form a lower low soon, the reversal on 3rd Jan could become the lower high. Although the charts says so, bank nifty may not even fall and could consolidate for few days before deciding the direction. It will all depend on the US FED's decision to pause/resume the rate hikes. If US markets continue to dip, then this time we may not escape as its an exciting time for US FIIs to pull money out from India and take it back. Their debt instruments are paying more interest comparing Indian version when adjusted for currency devaluation !
NSE:BANKNIFTY
by viswaram
PostMortem on BankNifty Today & Analysis of 04 JAN 2023Probably you would feel it repetitive when i said the nifty and bank nifty made moves when the US markets were on holidays.  Look what happened today with bank nifty - we have negated the 2 day's of price action ie. 02 Jan and 03 Jan. Which means we have closed today at the same value as of 30th Dec The child was having a nice time when the mom was on leave, now that she is back & has grounded him ! Lets now analyze the 5mts TF - BN opens at 43417 and makes a move up in the opening 10mts - HOD 43578 at 09.25. This would be the poor participants who would have taken a long position based on yesterday's price action. And then the first leg of fall from 09.25 to 12.10 a fall of 670pts ~ 1.54%. The bank nifty's fall happened sooner than my marked SR level of 42888.  There was a brief pull back rally from 12.15 to 14.10 almost a 38.2% retracement Fibonacci - notice i have marked the FIB levels based on the HOD and the low formed at 12.10 because that's where it reversed. The 2nd leg of rally had a higher intent but we ran out of time. Bulls need not be that much worried because the first level of support is still not breached. What may have happened would be the after effect of the 2 day unchecked rally. Today's price move in US & tomorrow's expiry may set the tone for further action. check the image above, 49000 CE was traded for 90.52 lakh qty, 46000 CE 1.48 crores, 45000 CE 3.15 Crores, 43000 CE 11.8 Crores. The option trading participation & volumes picked up when the market started moving. Even there was a spike in the option premiums of PE at 12.07 - see 8 charts below - even the far OTM PEs prices almost went up 150% This sets the stage for a wonderful expiry tomorrow. If US market falls today then we can expect further corrections here due to the domino effect created by the options positioning (mostly expiry related). I am skipping the bank nifty component analysis as today's price action would be broad based!
NSE:BANKNIFTY
by viswaram
BankNifty-04/01/2023-LevelsHello Traders, Welcome to SriTrader5121 ____________________________________ BankNifty-04/01/2023-Levels IMPORTENT ZONE FOR THE DAY : 43355 - 43366 Possibilities of Today market open... Possibility 1: FLAT If market open as a FLAT and moves to UP-SIDE then BUY with the Support of W_H and SELL with the Rejection of PDH. (or) If market open as a FLAT and moves to DOWN-Side then BUY with the Support of IMP and SELL with the Rejection of IMP. Possibility : 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 W_H. (or) If market open as a GAP-UP and moves to DOWN-Side then BUY with the Support of PDH and SELL with the Rejection of PDH. 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 H_R and SELL with the Rejection of IMP. _______________________ Happy Learning and Trading 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
PostMortem on BankNifty Today & Analysis of 03 JAN 2023We had a good price action today mostly following up from the moves from yesterday. Today's open was gap down at 43151 but if you take a look at the candles formed over the next 15 to 20mts its very much in continuation with the move started at 14.20 yesterday. The uptrend went on till 10.15 forming the swing high and then a retracement to the flat line. Bank nifty did not dip into red for much time before that it caught up to the 2nd leg of climb from 12.35 to 13.50. Steadily BN is gaining ground and trying to take out a resistance band of 43430. Today we will have action from the US markets which may even change the course of the trend in India tomorrow. Unchecked for 2 days bank nifty is climbing. This is after the FIIs remained net sellers today also.  --- Of the bank nifty components: NSE:HDFCBANK  had a green day, only the opening was below the flat line from there it made steady progress to the upside NSE:ICICIBANK  had a gap down opening and then it went to the positive territory early, but then gap up ground and fell till 12.25. From there there was a rally back to the flat line by close. NSE:SBIN ended the day flat, but the price action was negative till 12.25. NSE:AXISBANK was carrying on the last 1hr move of yesterday and surged superbly today ending with a gain of 2.2% hitting 52wk high today. NSE:KOTAKBANK also had a negative forenoon session, but the rally from 12.35 to EOD ensured it had a green close NSE:INDUSINDBK also did not go into red other than the opening candle. The green candle at 10.05 did cover good ground with good volumes as well. --- 15mts TF shows upside, 1hr TF isnt giving clear signals as of now. We need to watch SPX and NDQ price action today to see if our markets will go up unchecked or alter course.
NSE:BANKNIFTY
by viswaram
NiftyBank  One Hour Chart Analysis with Banknifty Target Banknifty Low Capital Trading Strategy Down Side Targets For Banknifty First Support Zone For BankNifty –          ( 43255 -43275 ) Second Support Zone For BankNifty –     ( 43100 -43120 ) Third Support Zone For Banknifty   -        (  42910 -42930 ) Up Side Banknifty Targets First Resistance  Zone For BankNifty –          ( 43410 - 43390 ) Second Resistance  Zone For BankNifty  -      (  43512 - 43496 ) All Time High  Importent Signal from BankNifty Option Chain Max Pain As per Option Chain Analysis –  43200 PCR ratio as per Option Chain Analysis –  1.08  ( Bullish ) Major Support as Per Banknifty Open Interest Analysis –  43000 /43200 Major Resistance  as Per Banknifty Open Interest Analysis –   43200 /43500
NSE:BANKNIFTY
by manojshinde27
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
PostMortem on BankNifty Today & Analysis of 25 NOV 2022We opened today without a handover from US as it was Thanks giving holiday for them on 24th Nov. Bank nifty opened at 43192 just in line with the last hour trend that started yesterday. And went to a new all time high of 43339 at 09.30. This 5mts candle had a long top wick just hinting of a possible short term top formation. What followed was exactly that - we had a first leg of drop from 09.30 to 11.55 and a 2nd leg of drop from 13.55 to 14.15. But the final closing was a decent one. So from a day's perspective we only had a drop of 0.21% but the intraday chart pattern showed a bit negativity. The moves on monday and tuesday will be crucial as December is usually the month wherein the FIIs book profits for the year. Volumes may drop on Dec that will increase the fluctuation in prices. --- Of the bank nifty components HDFC had a classic bearish pattern today - a sudden morning dip and then a narrow fall ICICI tried to hold on to the flat line till 10.30 but it broke down and then flattened by close SBI was in positive territory till 11.10 after that it too fell underwater, final closing did not see recovery AXIS stayed positive today and was the leading contributor to the index - never fell below the flat line today Kotak had the most bearish pattern for the day, 2 legs of drop today. IndusInd also stayed positive today and ended with gains of 0.98% --- 15mts vs 1hr - the intraday bearishness was not visible on the 15mts or 1hr chart as such. 15mts may create a top formation pattern if we have a fall on monday. 1hr is continuing to show bullish pattern. 1D TF shows bullishness, but today's red candle may indicate a warning for the days to come. 1W timeframe does not really show today's price action that much - as it stands the candle is strong green and we have 3 consistent green weekly candles. The low of this week's candle is the first support level for bank nifty. Also note that we are nearing the top of the decade channel. --- US markets were underperforming Indian markets for this year - there are 2 possibilities that could happen and both of them may not be good for Indian indices FIIs could start selling now, take back money to their mother market as they are starting to move higher Further worsening of global macros or war could force FIIs to sell off and move to cash FII selling will definitely weaken the rupee, further devaluing their returns. Indian indices will not fall if the domestic mutual funds and retail investors keep accumulating shares. But i am starting to think - arent the valuations of these companies simply unexplainably high??? ---
NSE:BANKNIFTYShort
by viswaram
PostMortem on BankNifty Today & Analysis of 24 NOV 2022 - ExpiryBank nifty broke out and made an all time high of 43163 today. The opening was at 42838 negating yesterday's fake price move from 15.00 to close. Notice how yesterday's rally continued with the yellow encircled region. Today's open and forenoon trade was in perfect alignment with the rally that started yesterday.  Since its a breakout rally - the momentum was gaining strength and the final 45mts of today's trade is proof of that. Before that BN was in a range a narrow one and the monthly expiry was nothing unusual. But the last 45mts gave some wings to the premium eventhough it was the closing minutes. 43000 CE went from 9.35 to 89.75 between 14.47 and close today, closed in the money with a final value of 76. The reverse is also true, 43000 PE went from 111.9 to 0.05 between 14.47 to close. When the VIX is near the lows ~ 13.47, implied volatility is low - the best option is to go with option buying (obviously we need a trend to make a killing). Personally i wish to stay away from directional trades right now, prefer to execute arbitrage trades. The Euphoria in the market is now at all time highs - just as the markets are. So there could be fake moves or wild swings with no accompanying fundamental reasons. All time highs are not good levels to enter with a purchase intent, because if the market reverses direction - you may end up holding something for years to come. --- Of the Bank nifty components, a common pattern is the last 45mts rally among HDFCBank, SBI, Axis and Kotak. HDFC Bk had a nice start and then it built on the gains, strong buying momentum towards the end ICICI had a relatively smoother slope, no pullback or consolidation intraday - just buying SBI started strong, went underwater and then the last 45mts ensured it ended the day with gains. AXIS had a similar chart like SBI, but the last 45mts gave it extra wings - the slope was approx. 80 to 85 degree Kotak was gradually fading underwater - but the last 45mts ensured it closes in the flattish territory. Indus Ind had a falling graph after a positive open. Took support at the Prev. close and final close was in positive territory. The final 45mts rally did have no effect on IndusInd. --- SPX vs Bank nifty - the spread is now at +6.32% vs 26.99%. US market will be closed today so we will not have any special macro related moves today. --- 15mts vs 1hr - Notice the clear breakout in the 15mts TF. Whereas its depicted as strong momentum in 1hr TF.
NSE:BANKNIFTY
by viswaram
1
PostMortem on BankNifty Today & Analysis of 16 NOV 2022A very good trading day today, bank nifty opened in line at 42371 made a long legged doji in the 1st candle and then made 7 consecutive candles with 100pts swings in each before deciding on the direction. We had a up day today with a decent run from 09.50 to 11.30 and then a small pull back till 12.05 and then resuming the trend till 13.45. The price action from 13.50 to 14.40 looked mostly expiry related. Majority of the previous expiries were island days - the positional selling between 13.50 to 14.40 may hint that we could even have a negative day on 17th. However i am not certain as the underlying buying interest for bank nifty is pretty euphoric. There is no amount of negative data that can pull down our indices and most of the traders would be gung-ho. --- Of the major bank nifty components HDFC Bank was contributing to the index pretty strongly today, but gave up most of the gains after 13.55 Kotak bank out performed and closed the day with 2.8% gains (pretty unusual unless there is a news event which i am unaware of) ICICI even though started the day positively, fell below the yellow line by 11.35 and traded with negative bias SBIN started low, then shot up and then made a strong negative price action by 12.55 AXIS and IndusInd had negative bias today the chart pattern slope nearly matching. --- 2 Major option strategy would have worked out very well today.  Any call debit spread taken after 09.55 A far OTM call ratio spread purely for intraday ie. Buy near ATM and sell multiple lots of far OTM CE options. This would have worked mostly because of the time decay as its 1 DTE today. There was an anomaly in the way far OTM PE options reacted in the last 30mts - check the graphs for 40000, 39000, 38000 PE - the premiums were surging - i would like to see this as intense put writing as part of expiry tomorrow. This can be considered as a bullish sign and may even contradict my view of bearishness tomorrow. --- SPX is rising vs Bank nifty which is rising much more. The indices might be seen as converging but the speed at which bank nifty rising is actually creating a wider spread. SPX closed right at the resistance line of 3991 yesterday - so today's move will be interesting as it may have to pick up a direction soon. --- 15mts vs 1hr - both charts are in agreement and showing a bullish bias. Again as all the market participants are long - we cannot even rule out a quick dip anytime. --- Bank nifty support and resistance has been updated S1: 41929, S2: 41618 resistance: no resistance as at ATH --- PS: Read the standard disclaimer at: bit. ly/3Nm3RER
NSE:BANKNIFTYShort
by viswaram
PostMortem on BankNifty Today & Analysis of 07 NOV 2022Quite an eventful day today, Banknifty opened mega gap up at 41740 crossing 2 resistance levels in a single go (41314 & 41459). The first candle was red but with a long wick on the bottom - indicating that the opening trade was favoring the buyers. The major reason for the gap up was SBI which published good results this quarter. There was a decent fall till 11.25 where the BN tried to cross the 41459 support level - but it couldnt until 13.20. The candle at 13.20 was pretty long and red maybe just indicating that there could be a bit of selling pressure in the days ahead - unless the SBI results are macro shift capable. BN took support at 13.30 and then had a decent & strong buying momentum till close. It went from 41338 to 41758 between 13.30 to 15.20. The green candle at 15.00 negated the red one formed at 13.20 So now we have the BN near the all time highs and no more resistance levels - this make it quite difficult to set a risk:reward ratio for the trades. --- Of the major bank nifty components SBI ended the day with a gain of 3.4% making a 52wk high of 622.7 HDFCBk traded the 1st hour with a negative bias, and then made a strong rally from 10.15 ICICI started positive and then faded into red by 13.25 and then had a super rally to close the day Axis bank also started gap up went to negative territory by 10.25 made an intraday low at 11.25, a retracement bounce till 12.20 and then slipped back to negative. The final hour showed strength and the closing was in green. Kotak and IndusInd had a similar kind of chart pattern, gap up opening and then trading below the negative territory throughout the day. --- Look at the open and close prices - they are almost the same. Guess what would have worked today? Yes short iron fly.  Also shorting CE options or doing a CE credit spread would have worked out well as the time decay was higher due to holiday on 8th Nov. But shorting the calls would require quite some nerves as the bank nifty is as all time highs and there is no resistance. Mostly markets will follow the path of least friction, here it says UP. Because we do not have any more levels to watch. A single breakout rally can shoot the option premiums exponentially high. So request all traders to either set the stop losses or get into fixed loss strategies like ratio spreads, iron condor, iron fly or credit spreads (emphasis on credit as the time decay will help) --- SPX and bank nifty gap keeps diverging. There is a possibility of convergence if SPX rallies this week. As the mid terms elections and the US CPI data is due this week - we can expect an eventful price action till 11th Nov. The nearest support level is at 3737 and the resistance level is at 3813. From the 1hr red candle made on 14.30 there may be stiff resistance going into 3800+ levels. But if SPX manages to cross above that then the next 100pts can be scaled up so easily. --- 15mts is showing sideways market only, even though we had a gap up and resistance breach 1hr shows bullish momentum unless otherwise it settles for a top formation. So we watch the next 3 days closely and then decide --- Bank nifty support & resistance levels s1: 41459, s2: 41314 r1: no resistance as near ATH --- PS: Read the standard disclaimer at: bit. ly/3Nm3RER
NSE:BANKNIFTY
by viswaram
PostMortem on Bank Nifty Today & Analysis of 04 NOV 2022Banknifty opened right at the support/resistance level of 41314 touched the next resistance level of 41455 in the first candle. The 3rd candle showed a bullish tone when i thought BN took support at 41314 and rallied again to 41455, but over the next 2 candles BN gave away that hope. By 09.40, bank nifty had dropped below the SR level and traded the entire day below that. From 09.30 to 10.40 it made a good lower swing - but the momentum was not adequate for further follow up selling. We need to give some credit to the Indian indices now - the resilience is the best in the world. No other major markets are staying up at all time highs as the Indian market is. And no amount of negative cues or macros are triggering the selling button. The move from 14.10 to close was again a small rally that helped BN close back at the SR level. Final close at 41297. Due to the normal range bound trading and the open/close being almost same - the option prices did not swing that much. In fact the PE option prices are relatively cheap - it could also be attributed to the India VIX staying low (fell another 1.8% today to 15.6550%). Compare that with US VIX which is 25.38. --- Of the major bank nifty components - HDFC Bank and ICICI showed bearish momentum, although ICICI did some good recovery in last 30mts. SBI made bullish tone after breaking out at 13.45 (may be due to earnings expectation) AXIS & Kotak started the day with bearish tone, but axis closed in green and Kotak flat IndusInd bank closed in green but by creating a flattish chart pattern. But the opening 20mts candle formation on HDFCBk, SBI, Axis and Kotak are quite surprising - again it must be trade settlements by FIIs in the pre-open session --- Most of the option strategies would not have worked today, primarily because the implied volatility was low and the decay in time was not really worth it. Straddle would have given good results, since open & close are at same levels - but the stop losses would have hit at both ends. A simple short iron fly would have worked out better - since the stop loss is not required for. I tried out the put ratio spread when BN broke the support at 09.23 ie sell 1 lost of 41300 PE at 407.75 and but 2 lots of 40700 PE for 152.47. Although the premium decayed the trade did not plan out well. I had to square it off at 317.55 and 111.05 a loss of 33.95 pts. I will have to check if some other ratio or strike price would have resulted in a profit - will get that done offline. --- SPX & Bank nifty gap is widening - a total decoupled Indian stock market as of now SPX upcoming support is at 3641, resistance at 3737. The big red candle formed at 14.30 02 Nov would have a story to tell after taking out the gains made from 24th Oct. --- 15mts showing perfect sideways market 1hr also shows perfect sideways move - the 1st candle of 03 Nov might have a story to tell on the upside. 1D pattern shows upside move if the BN is able to break from the consolidation at present. --- Bank nifty support & resistance levels s1: 40867, s2: 40691 r1: 41312, r2: 41455 --- PS: Read the standard disclaimer at: bit. ly/3Nm3RER
NSE:BANKNIFTY
by viswaram
Bank Nifty Today - 03 NOV 2022 Analysis + Comparison with S&P500Bank nifty moved today quite contradictory to the global moves. Frankly what is happening to India's banks - is there so much positivity to bury the global macros ? S&P500 down 2.5&, Nasdaq100 down 3.39% and our bank nifty up 0.37% today Just look the opening 4 candles. Gap down opening at 40873 very near to the support level of 40867 - hits the resistance level of 41314 by 9.35 - who would believe it ? 494pts move in 20mts with great momentum. I am not worried with bank nifty moving up like that - but on a day where the global cues were very negative - quite impossible. From 9.35 to close BN traded in and around the SR line with minimal volatility. Cannot even believe the India VIX came down by 4.3% today. Is there a real fundamental shift in India & its growth story - or are these some pump & dump scheme operated to loot the retail traders & investors? Who am I to ask these….? The candle at 10.10 looked interesting - it broke through the resistance and then a fall back to the level over the next 11 candles. And then another pump at 11.10, over the next 2 candles we would have got the impression that BN may breakout - but the 41455 resistance line came into play. Then we had a gradual fall below the SR line, but notice the price action at 13.10 (strong green candle breaking the resistance again). Anyways the final close was at 41304 just below the SR of 41314. --- 6 major banks, most of them showing strength today HDFC bank closed in red, but the chart pattern is not negative ICICI closed in green with flattish pattern SBI closed well in green with bullish pattern AXIS bank showed strong breakout in the morning to give it all back later - closed flat Kotak was trading below yesterday's close with a bearish bias IndusInd bank showing bullish pattern. --- Since today was expiry - there were many trade possibilities that could have been planned. BN stayed within the support & resistance zone eventhough it felt it would be a breakout today. All OTM calls & puts have gone to zero - if you would have written them, you could have made money. However we can all say that with hindsight - cannot engineer the outcome in advance. I am of the personal opinion that most of the traders would have hit their stop loss due to the mammoth move in the opening 20mts. Due to the overnight macros - most of them would have thought the bias will be bearish today. I noticed that the premiums on the call side were very minimal signaling the bank nifty might not breakout, but was not courageous enough to short them today after seeing the open. I am researching into deploying ratio spreads into weekly expiry to bring in exponential returns with a limited risk profile - may be it will take 6 to 9 months to get some clarity (i dont prefer to back test, i instead journal the trades henceforth - something like a forward test) --- SPX & Banknifty has diverged more today - the gap is now in excess of 22%. Presently the ES1 futures are showing a drop of 1% - so may be the US market will be in red today also. --- 15mts showing sideways market 1hr also showing sideways market --- Bank nifty support & resistance levels s1: 40867, s2: 40691 r1: 41312, r2: 41455 --- PS: Read the standard disclaimer at: bit. ly/3Nm3RER
NSE:BANKNIFTY
by viswaram