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Bankniftyoptions

Banknifty prediction for tomorrow 21 Feb 24As we have been discussing, Banknifty double bottom pattern nature in a couple of days. Today, it has broken successfully to the upside. Now, if we look at the chart data: The market has broken the double bottom neckline to the upside. There is a higher chance for the market to go upside down. The market path for now is clear till 47500. There is a resistance trendline at 47500, which might hold the market for a bit. If we look at OI data: PCR = 1.55 indicates the market's super bullishness. There is only a little CE writing at higher levels till 47500. The market is now in bulls control. 47000 is MAXPAIN. Once the market momentum starts, it will go directly to 47500. I expect the market to go bullish till the resistance trendline. Reasons: Price> EMAs show the market is having bullish sentiments. RSI > 60 shows the market is in a bullish region. Price> VWAP shows the market is bullish and has a balanced Price with volume. OI data PCR = 1.55 shows the market is in full bull's control right now. Also, 47500 will be providing the next resistance in the market, which is also the resistance trendline. Verdict: Bullish Plan of action: Sell 47100 PE (hedge it with a 30 rs premium)
NSE:BANKNIFTYLong
by finnova_
Banknifty weekly analysis for 19/02/24.Banknifty has formed a nice bullish candle on the weekly charts and closed 750 points higher. The market remained in a range for a while and gave a nice break out during the previous week. In the last trading session market tried to clear the resistance levels of 46600 but couldn't clear the same and closed around 46400 levels. Major resistance levels :- 46580, 46980-47100. If there is a gap up opening, the market will look to test 47k levels and further test 47550. On the bearish side the market can test the lower levels of 46k and 45700. Anything below 45700 may seem to be a bearish move. Major support levels :- 46040, 45700 Wait for the price action and buy on dip is the current market cycle. Nifty is trading around the ATH while banknifty is trading short of 2000 points. It can be seen getting close to the ATH in the coming week.
NSE:BANKNIFTY
by TheMamboMomentum
Bank Nifty - 19/02/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 19/02/2024 - Levels IMPORTENT ZONE FOR THE DAY: 46300 – 46330 Important Support and Resistance for the Day... Support - Resistance - Support-1: 46260 Resistance-1: 46500 Support-2: 46090 Resistance-2: 46630 Support-3: 45930 Resistance-3: 46690 Support-4: 45700 Resistance-4: 46800 ____________________________________________ 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 20 -> 20 EMA in Day Red Zones... -> Resistance-Zones Green Zones... -> Support-Zones IMP -> Important 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 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 (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals)
NSE:BANKNIFTY
by SriTrader5121
Banknifty prediction for tomorrow 19 Feb 24As we have been discussing, Banknifty has a bullish nature for a couple of analyses. Now it's reaching near the resistance zone @46970. Now, if we look at the chart: The market has broken to the upside; also, the market is making a double bottom if we look at the 4H frame. 46300 was good resistance, which broke to the upside. Now, I am expecting it to provide good support. If we look at the OI data: Pcr = 1.10, which shows the market is bullish. However, the above side 46970 will provide good resistance, which is also confirmed by OI heavy CE writing at the 47000 level. MaxPain, for now, is 46500. Once it's broken to the upside, the path to 46970 will be clear. I expect the market to be volatile in this zone, as per the historical data. Right now, at a double bottom neckline. I am expecting volatility in 46300-46970. Reasons: The last two times, the market fell sharply from this level. Price > EMA indicates bullishness in the market. RSI is showing bearish divergence. Some consolidation is required at this point. OI data Pcr = 1.10 shows bullishness. 46500 is MaxPain, and 47000 shows heavy CE writing. VWAP ≥ price, which indicates bullishness in upcoming sessions. Verdict: Bullish till 46970 level. Plan of action: Be aware of opening high; if the market gap-up, there is a high chance of range bound in 46500-46970. Go with an Iron Condor in the range 46500-46970.
NSE:BANKNIFTY
by finnova_
6
Banknifty prediction for today live 15th FebI have been busy for the last two days. If you have been following my analysis, we marked a resistance line, which got a breakout yesterday, and after that, it gave a very nice bullish momentum. Now, if we look at the chart: The market is already in the breakout phase, but right now, it is sitting at the resistance zone that has been tested multiple times. There is a high probability that Banknifty will be continuing the bullish momentum. But 46100 will be providing good resistance once its broken bull's path is clear to 47000. If we look at OI data: PcR = 1.10, which shows the market is very bullish. 46000 has good CE writing, which might provide good resistance, which is also confirmed by Price action. As it's 1st day of the week, OI will not matter much. FII and DII show bearish on Options, which might lead to some sideways days because, in the future, FII is bullish. I am expecting the market to get sideways in the range of 45600-46100(color as Cyan). If it breaks 46100 to the upside, I am expecting more bullishness. Reasons: Price > EMAs, which shows the market is strong. RSI > 60 shows good strength in the bulls. OI data Pcr = 1.10 shows the bullish sign. which is also confirmed by the Price action breakout. Price> VWAP, which shows the market is having strength. Verdict: sideways in the range 45600-46100 Bullish; if breaks 46100 to upside Plan of action: Case 1: Range selling in 45600-46100 Case 2: go bullish if it breaks 46100 to the upside.
NSE:BANKNIFTYLong
by finnova_
Banknifty analysis prediction for tomorrow 12 Feb 24As we discussed in our last analysis, it's bearish behavior, but it took support at 45000 and turned bullish. Now if we look at chart data: the market is trading at a resistance trendline. Which has rejected the Price twice. It might reject it again. Also, the Price is at 200 EMA, which can provide a good resistance at this level of confluence. Looking at the OI data: Pcr = 0.86 shows the bullish nature of the market. 46000 shows Huge CE writing, which means it has heavy resistance. The lower side, 45000, is showing good PE writing, which means we are going to provide nice support at this level. We can also see in charts 4550045500-46000 is to be a sideways volatility range. All possible scenarios have been marked on the chart according to their probability of occurrence. I expect bullishness . Reasons: Price > EMA(13); also trading at 200 EMA. (indecisive.) Price is trading at a resistance level; either side will decide the direction of the market at that moment. RSI > 60 shows good strength in the bulls. OI data Pcr = 0.86 shows the bullish sign. which is confirmed by FII and DII data. Price> VWAP, which shows the market is having strength. Verdict: Bullish Plan of action: observe the 15-minute candle and then go in as situations marked on the chart.
NSE:BANKNIFTY
by finnova_
2
Banknifty weekly analysis for 12/02/24.Banknifty has been trading in a wide range of 2000 points for last three week and is constantly trading around weekkly 20 ema. Though it has closed below the moving average and took a retest of 61.8% fibonacci level, giving a nice fall after it. Bullish trade in the index can be trade once it sustains above 46900-47000 zone as it will confirm a W pattern and take out fib rejection levels too. It is trading between the moving averages on the daily charts. Banknifty is kind of consolidating between the two and a blasting move can be seen once there is a break out or break down of the levels. Major support level for the market is 44550 and major resistance is around 47000 levels. 16 trading session and 23 days market has been trading between these two levels. Positional long F&O trade should be initiated after the levels are taken out. Short strangle with SL of the two levels can be entered and can be benefitted. Major support levels :- 44970, 44500 Resistance levels :- 46000, 416510-80 Wait for the price action near the levels before entering the trade.
NSE:BANKNIFTY
by TheMamboMomentum
Bank Nifty - 14/02/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 14/02/2024 - Levels IMPORTENT ZONE FOR THE DAY: 45395 – 45435 Important Support and Resistance for the Day... Support - Resistance - Support-1: 45000 Resistance-1: 45610 Support-2: 44810 Resistance-2: 45610 Support-3: 44650 Resistance-3: 45750 Support-4: 44400 Resistance-4: 46000 ____________________________________________ 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 20 -> 20 EMA in Day R@1, R@2, R@3... -> Resistance-Zones S@1, S@2, S@3... -> Support-Zones IMP -> Important 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 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 (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals)
NSE:BANKNIFTY
by SriTrader5121
Bank Nifty - 13/02/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 13/02/2024 - Levels IMPORTENT ZONE FOR THE DAY: 45330 – 45350 Important Support and Resistance for the Day... Support - Resistance - Support-1: 44630 Resistance-1: 44995 Support-2: 44545 Resistance-2: 45330 Support-3: 44444 Resistance-3: 45610 Support-4: 44280 Resistance-4: 45750 ____________________________________________ 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 20 -> 20 EMA in Day R@1, R@2, R@3... -> Resistance-Zones S@1, S@2, S@3... -> Support-Zones IMP -> Important 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 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 (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals)
NSE:BANKNIFTY
by SriTrader5121
Bank Nifty - 12/02/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 12/02/2024 - Levels IMPORTENT ZONE FOR THE DAY: 45350 – 45370 Important Support and Resistance for the Day... Support - Resistance - Support-1: 45520 Resistance-1: 45920 Support-2: 45370 Resistance-2: 46100 Support-3: 45160 Resistance-3: 46310 Support-4: 45000 Resistance-4: 46520 ____________________________________________ 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 20 -> 20 EMA in Day R@1, R@2, R@3... -> Resistance-Zones S@1, S@2, S@3... -> Support-Zones IMP -> Important 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 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 (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals)
NSE:BANKNIFTY
by SriTrader5121
Bank Nifty - 06/02/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 06/02/2024 - Levels IMPORTENT ZONE FOR THE DAY: 45855 – 45835 Important Support and Resistance for the Day... Support - Resistance - Support-1: 45730 Resistance-1: 45855 Support-2: 45610 Resistance-2: 45930 Support-3: 45480 Resistance-3: 46050 Support-4: 45360 Resistance-4: 46130 ____________________________________________ 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
Banknifty weekly analysis for 05/02/24.Banknifty has given a nice move after the budget day and closed 200 point lower on daily close and 1000 points lower from the day's high. The weekly chart is showing a rejection from golden fib ratio of 61.8% around 47k zone. Though, it has closed above the 20 WEMA buy still it is trading below 20 DEMA. The market has given much move in the last week but volatility was high which helped option seller to create position while taking a hunt on option buyers. Major support levels :- 45860-900, 45300, 44550 Currently, nifty tested it high but banknifty is still lagging in testing the high by 1800 points. If the market remain positive and give some bullish momentum there are chance for the index to retest the high. It will face resistances while testing the higher highs around round number figure and resistance zone. Resistance zone :- 46550, 47000 No trading zone is marked and there is possibility of market easing of with the volatility to create a trend or sideways movement. Wait for the market to decide whether it sideways or trending. Must watch for the price action formation near the zone and trade accordingly.
NSE:BANKNIFTY
by TheMamboMomentum
Banknifty Prediction for tomorrow 6th Feb 24As we discussed yesterday, the market went sideways, and after 2 PM, bearish momentum started. If we look at the chart data: Prices have broken to the downside and have consolidated nicely today. It might touch the target marked on the chart. It has also broken 200 EMA to the downside. EMA has given an EMACrossover(13, 200), which shows the market has turned bearish. If we look at the OI data: PCR = 0.64 shows the market has a bearish sentiment. 45800 is MAXPain; also, 46000 has huge CE writing, which will provide a nice resistance to the upside. I am expecting the market to fall more till the target is marked in the chart. Reasons The market has already given a breakout to the downside. (Bearish) Price < EMAs shows a bearish market structure. (Bearish) RSI < 40, which shows bulls are weak right now. (Bearish) Price < VWAP shows a bearish sentiment in the market. (Bearish) OI data shows PCR = 0.64, which shows the market is having bearish structure. (Bearish) Verdict: Bearish Plan of action: Sell 45700 CE (hedge it with 30rs CE).
NSE:BANKNIFTYShort
by finnova_
Bank Nifty - 05/02/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 05/02/2024 - Levels IMPORTENT ZONE FOR THE DAY: 46160 – 46210 Important Support and Resistance for the Day... Support - Resistance - Support-1: 46160 Resistance-1: 45900 Support-2: 46310 Resistance-2: 45670 Support-3: 46500 Resistance-3: 45480 Support-4: 46890 Resistance-4: 45190 ____________________________________________ 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
Banknifty prediction for tomorrow 05 FEB 24As we discussed, Banknifty touched Target 1 and then fell from there. Now, if we look at the charts , The market is making a rectangular pattern in an uptrend; now, it has broken to the downside. Also, we have 200 EMA support here. Banknifty is sitting in a make-and-break situation. It might take support, but if we look at RSI, bulls do not have strength. Also, the last 5 candles were intensely selling volume candles, which indicates the market will go bearish in upcoming sessions. OI data: PCR = 0.70 indicates the neutral behavior of the market. 46000 is the MaxPain. If it breaks to the downside, the next level of support is 45400. Also, on the upside, 46500 is a strong level of resistance. FII & DII data: FII is mildly bullish, whereas PRO seems to be mildly bearish, which gives neutral market behavior. I am expecting the market to go bearish in upcoming sessions: Reasons: The Market has broken to the downside of the Uptren rectangle pattern. (Bearish) The market is at 200 EMA, which might provide support. (Bullish Hope) (Neutral) 13EMA > Price ~= 200 EMA, which indicates market direction depends on price action on 200 EMA. RSI < 40, which shows the weak bulls sign in the market. (Bearish) Price < VWAP (Bearish) OI data PCR = 0.7 indicates neutral market behaviour. (Neutral) Verdict: Neutral (Mild Bearish) Plan of Action: Observe PA at 200 EMA. If the price is below the outside rectangle, go Bearish.
NSE:BANKNIFTY
by finnova_
3
Bank Nifty - 01/02/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 01/02/2024 - Levels IMPORTENT ZONE FOR THE DAY: 45870 – 45897 Important Support and Resistance for the Day... Support - Resistance - Support-1: 45900 Resistance-1: 46120 Support-2: 45677 Resistance-2: 46180 Support-3: 45518 Resistance-3: 46370 Support-4: 45200 Resistance-4: 46600 ____________________________________________ 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
Budget move in Banknifty (01/02/24).Banknifty has given a nice up move in the first half and consolidated on the expiry for the rest day. It is facing rejection from a trend line and a resistance zone of 46150. If there is a break out after a flat or gap down opening, it can test the round number figure quickly. In case of a gap up opening, let market retest the break out levels or form a price action near the zone. Then only trade should be initiated as the option premiums will remain high. Tomorrow is budget which will create more volatility in the markets. India VIX is trading above 16. Major Resistance levels :- 46150, 46500, 46920 The market may both side as the previous budget made it move 2500 from high to low. Today's consolidation near the high shows some positivity in the market. Support levels :- 45950, 45490-550 Option premiums will move quickly so keep the target and stop losses strict. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
Banknifty weekly analysis for 29/01/24.Banknifty has closed below the weekly 20 ema and looks bearish as the golden ratio is also breached. The previous trading session has formed a bullish hammer but still is trading below the previous day high. Bullish swing/intrady should be created above 46200 levels. It has taken support from 20DEMA. Major support levels :- 44480, 44290 No trading zone is market between 44480-45130 due to the volatility in the market. Resistance levels :- 45130, 45470, 46160 Markets will be opening after a long weekend and chance are there of a gap up/down opening. Trailing stop loss can help capturing the trend. This is a budget week and option premiums will be high. Enter a confirm setup and aviod entering the between the trend. Watch price action near the levels before entering the trade.
NSE:BANKNIFTY
by TheMamboMomentum
1
Bank Nifty - 30/01/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 30/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 45368 – 45400 Important Support and Resistance for the Day... Support - Resistance - Support-1: 45400 Resistance-1: 45525 Support-2: 45265 Resistance-2: 45660 Support-3: 45110 Resistance-3: 45770 Support-4: 44920 Resistance-4: 45935 ____________________________________________ 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