Take 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...
Probably 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...
Hello 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...
We 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...
Bank nifty Bullish view in weekly chart, aggressive and conservative traders levels CONSERVATIVE TRADER ENTRY ZONE 44180 - 44250 AGGRESSIVE TRADER ENTRY ZONE 41700 - 41800 STOP-LOSS >>DAY'S CANDLE CLOSE BELOW 37350 T2 >> PROFIT BOOKING ZONE 50300 -50400 T1 >> PROFIT BOOKING ZONE 45900 - 46000
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...
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...
We 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...
Bank 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...
In this video I have done banknifty option chain analysis for monthly expiry. Watch the video till last for better understanding.
A 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...
Quite 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...
Banknifty 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...
Bank 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...
The global market indicates a positive start. The nature of the market is bullish. The market may open a gap-up. If the market rejects sharply at key levels, we will expect a minor correction. It takes min (23 to 38% Nifty), (Bank 38% to 61%). Otherwise, the market may continue to rally further with minor consolidation.
Bank nifty opened gap up at 40252 much above the resistance level of 40154. The first candle was bearish, so was the price action till 09.35. But the support level of 40154 held quite strong and there was an immediate bounce. The green candle at 09.40 almost took back the bearishness of the preceding 3 candles. For the remainder of the day, bank nifty traded in...
SPX fell 2.8% & NDQ 3.88% on friday and the handout to us today morning was not that positive. As expected bank nifty opened gap down 38461 below the support level of 38698. The first candle was bearish, closed down & may have indicated that the rest of the day will be negative. But what happened in the next 2 candles were the opposite, a hammer the 2nd candle...
Banknifty standing just above a strong support of 35077. if banknifty moves above from where it left off then it may also cross 35304 and may reach to the level of 35510. between 35510 to 35722 is also an extremely strong resistance zone. If Bank Nifty crosses over 35722 then it may reach to the level of 35934. if banknifty crosses down below 35077 then it...