As we discussed, BANKNIFTY could not break the zone to the downside; instead, after a heavy bearish candle, it ended strong bullish with huge volatility. If we look at the chart now: The market took support at 50 EMA and gave a great bullish momentum. The market seems bullish right now. The market is moving in an uptrending channel right now. One can make...
Hello Traders, Welcome to SriTrader5121 ______________________________________ Overall view for the day Buy - with the support of s1 Sell - with the rejection of s1 Major Support - Around 497## Major Resistance - Around 502## See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – ...
Hello Traders, Welcome to SriTrader5121 ______________________________________ Overall view for the day Buy - with the support of Impotyent_level Sell - with the rejection of Impotyent_level Major Support - Around 502## Major Resistance - Around 505## See the price action at our zones, take the trade according to your Risk - Reward. Happy...
As we discussed in the morning, BANKNIFTY ended up sideways. If we look at the chart now: The market is indecisive, as neither bulls nor bears are able to move the market in a direction. The market is taking support at 50 EMA(15 min TF). If it breaks to the downside, we might get a good bearish fall til 200 EMA. Support levels: 49929, 49704, and...
As we discussed yesterday, BankNifty spent on an up-trending channel and ended sideways. If we look at the chart now: The market is in the channel right now. If it breaks down to the downside, it will give a nice bearish momentum. Support levels: 49778, 49255, and 49052 resistance levels: 50102 and 50202 If we look at the OI data: PCR = 0.74, which...
Hello Traders, Welcome to SriTrader5121 ______________________________________ Overall view for the day Buy - with the support of PDL Sell - with the rejection of PDL Major Support - Around 495## Major Resistance - Around 525## See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – ...
Hello Traders, Welcome to SriTrader5121 ______________________________________ Overall view for the day Buy - with support of R/1 Sell - with rejection of PDL Major Support - Around 489## Major Resistance - Around 502## See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – ...
BANKNIFTY Intraday Trade Setup For 12 Jun 2024 Bullish-Above 50000 Invalid-Below 49890 T- 50750 Bearish-Below 49500 Invalid-Above 49610 T- 48700 BANKNIFTY has closed with a slight cut of 0.15% cut today. Nothing was triggered as per trade setup, traded between 400 points range. Index is consolidating and premiums are getting to its normal value after event. It...
Hello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - with support of PDL Sell - with rejection of PDL Major Support - Around 489## Major Resistance - Around 502## See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – ...
Hello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - with support of PDL Sell - with rejection of PDL Major Support - Around 489## Major Resistance - Around 502## See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – ...
Hello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - with support of s/1 and s/2 Sell - with rejection of R/1 and R/2 Major Support - Around 493## Major Resistance - Around 505## See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading...
As we discussed yesterday, Banknifty traded in a sideways-bullish zone. If we look at the chart now: The market has taken support from 200 EMA. The market is trading above EMA, which shows that the market is really bullish right now. There is also a bullish EMA(13, 50) crossover, which indicates that the market is in a bullish phase now. also, we got a...
Hello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - with support of PDH Sell - with rejection of PDL Major Support - Around 480## Major Resistance - Around 505## See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – ...
Banks had a higher aggression today, but just like the comments I posted in Nifty's post mortem report - I do not wish to go long yet. Take a look at the Fibonacci levels drawn for BankNifty's price action last 3 days. 100% level is at 51119 0% at 46267 - quite near my SR level of 46284 23.6% level is @ 47412, quite near 47477 SR 38.2% level is @ 48120, my...
Banknifty gave a really big bullish moment today. It's still an effect, and the market boomed 2000 points. If we look at the chart now: The market gave really big momentum to the upside. The market is trading above EMA, which shows that the market is really bullish right now. There is also a bullish EMA(13, 50) crossover, which indicates that the market...
As we discussed, Banknifty, because of the event(election result) based trading, we are not going to trade. The fog is now clear, and we have which government is going to be there. Now, the market will be stable in 1 day or two. If we look at the chart now: The market had a massive fall yesterday because the election result was not as favorable as...
BankNifty Analysis The intraday fall on BankNifty was approx 5028pts ~ 9.84%, a few more points would have triggered the lower circuit and we would have had a pause of 30 to 45mts. The Lower circuit hit would have opened the floor to further fall due to panic and somehow magically the reversal came and it really saved the day. If you look at the daily chart, the...
Last week we wrapped up the discussion saying BankNifty is looking more bullish than Nifty. We also said the torch bearer would be Banks in case of a positive scenario. India's growth story will have to come via Bank's is their base case, this explains the 40% plus dependency of the index on Financial Sectors. BankNifty managed to close higher than the open value,...