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Bankniftyoptions

Banknifty prediction for tomorrow 30 JAN 24As we discussed, Banknifty it has given a breakout today. By looking at the chart has given a breakout for the falling wedge pattern, which indicates the Market is going to get bullish in upcoming sessions. By looking at the Oi data, PCR = 0.86, which is bullish. Also, the budget is about to be announced on the 1st FEB., which needs to be good as the election is near. The whole Market is showing a positive sentiment. I am expecting Market to go bullish as of now Reasons: Price > EMAs, which indicates a bullish signal. (Bullish) RSI > 60, which shows bulls are in the control of the Market now. (Bullish) PCR = 0.86 shows bulls are more prominent in the Market. 45500 seems to be the MAX Pain. Once this level is clear, the Market is expected to go higher. (Bullish) The Market has given a breakout for the Falling wedge pattern, which is a clear sign of bullishness. (Bullish) 46300 seems to be a crucial level of resistance as it's also conceding with 200 EMA, which is probable to give some résistance. (Target Resistance) Verdict: Bullish Plan of action: SELL 45400 PE (hedge is with Buy 30rs PE)
NSE:BANKNIFTYLong
by finnova_
BankNifty prediction for tomorrow 29 JAN 24As we discussed, NIFTY is to be "SIDEWAYS in the range 44600 - 45481" in our last analysis. It resulted in a sideways while facing good resistance on 50-EMA. Now, if we look into the Chart data, EMA(50) is providing nice resistance. Also, 44500 is Hard SUPPORT, and 45370 is Hard RESISTANCE, resulting in a zonal movement. Also, the market is making a falling wedge pattern, which is bullish. while OI data PCR= 0.68 shows bearishness while PCR=0.90(next week expiry) shows bullishness. means people are expecting a good budget decision announcement on 1st FEB. As people are waiting for a budget day, I am expecting the market to be sideways till 1 FEB in the given Zone unless we get a breakout. Reasons: Market is making falling wedge pattern which is bullish. Price < EMAs, which shows bearish market structure. RSI ~ 40-60, which shows sideways market momentum. EMA 50 and 200 will be acting as resistance. An upper resistance trendline will provide good resistance. OI data PCR = 0.69 shows Bearish wherelse PCR = 0.90 shows bullish sign in upcoming week. Verdict: Sideways unless it gets breakout. Plan of Action: Sell 44500 PE and 45400 CE (hedge it with 35rs premium)
NSE:BANKNIFTY
by finnova_
2
NIFTY prediction for tomorrow 25 JAN 24As we discussed, NIFTY has a "Bearish structure," but at the price action level of 21200, it took support and recovered really well. It gave a double bottom breakout and also reached level 21500, which is a resistance zone for now. If it enters into the zone marked in blue, it's going to be sideways. Also, 200 ema is going to act as a resistance point inside the blue zone. If we look at the OI data, PCR = 0.82, which leans towards a bullish market structure. Meanwhile, Banknifty PCR = 0.59 is bearish as both are not aligned. So tomorrow, I am expecting the market to be sideways in the blue zone and high volatility in the lower zone. All important levels have been marked on the chart. Reasons: Price 200 EMA, which will also act as resistance in the upward direction. RSI ~ 40-60, which indicates the sideways market structure. Price > EMA(13) is also sitting at 50 EMA, which will be acting as resistance. OI data PCR = 0.82 shows bullish signal. (Bullish) Verdict: SIdeways Plan of action: Wait for 15 min candle. Make position according to PA levels marked on charts.
NSE:NIFTY
by finnova_
BankNIFTY prediction for tomorrow 25 JAN 24As we have been discussing, BN is bearish; it took support from the marked zone and then recovered but again fell in 2nd half session today. If we look at chart data right now, the 44600 level showed nice support twice today with a nice volume. As the market is still making LL and LH, it represents a bearish market structure. I am expecting it to come again to 44600 and then bullishness in the market. Also, OI data PCR confirms the bearishness in the market with a PCR value of 0.59 ( BEARISH ). FII ad Pro clients data indicates the market to be getting bullish. I am expecting the market to be sideways in the range of 44600 - 45481. both levels are going to provide nice support and resistance. Reasons: Price < EMAs shows bearishness in the market. RSI 40-60 shows the sideways momentum along with the bulls' weak power. OI data PCR = 0.59 indicates a bearish signal in the market. Vwap is still high value. Price << VWAP indicated market price has to settle. It's not going to make a huge bearish move in the market. Verdict: SIDEWAYS in the range 44600 - 45481. Plan of action: look for 15-min candle and make a bound position in 44600-45481. I will update the idea once a market trend is set.
NSE:BANKNIFTY
by finnova_
Bank Nifty - 25/01/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 25/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 44888 – 44916 Important Support and Resistance for the Day... Support - Resistance - Support-1: 45075 Resistance-1: 45304 Support-2: 44680 Resistance-2: 45484 Support-3: 44550 Resistance-3: 45768 Support-4: 44410 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 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 23/01/24. Banknifty is taking support from the weekly 20 ema and has formed a bearish engulfing candle on the charts. The movinga averages are being respected by the market, it is hovering between both 20 and 200 ema on daily charts. A consolidation is there in between 50-61.8% fibonacci levels. It has been trading in a similar range for last 3 trading session and this week is only of 3 days. In case, market starts moving up it will face resistance around the rejection levels of 46610 and 46900-47050. Resistance :- 46230, 46610, 46900-47050. The market is showing some negative sentiments and there are chances of it hitting below 45k levels once the support zone of 45500 is breached. Bearish trades can be initiated once 45450 level is gone and market starts sustaining below it. There are buyers around this level and lower targets of 45000 and 44600 can be capture on the break down. Support levels :- 45450-500, 44930, 44550(daily 200 ema). Mark the no trading zone of 45450-46100 as the market is volatile in this range. Wait for the price action and candle closing below or above the levels before initiating a trade.
NSE:BANKNIFTY
by TheMamboMomentum
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
Banknifty Prediction for tomorrow (weekly) 24 Jan 24According to our past discussion, BANKNIFTY had a bearish nature for a couple of days. It had a nice fall today. If we look at chart data now, 46617 is a good support point. But if it breaks to the downside, it is going to give a nice target of 43850 level. Important levels have been marked on the chart. There are two different possibilities marked green (Bullish) and red (bearish) on the chart. If we look at the OI data, PCR = 0.51 indicates a huge bearishness in the market, which is also supported by the chart data. 45000 is the MAXPAIN for the current market structure. If it breaks to the downside, then good targets of levels 43850 and 43267 can be achieved easily. All important levels have been marked on the chart. Data shows the market is going to be bearish in the upcoming week. Reasons: Price < EMAs shows the market's bearish nature. (Bearish) The market has given the Death crossover, which is a strong signal of a Bearish market. (Bearish) OI data PCR = 0.51 shows the bearish structure of the market. (Bearish) RSI < 40, which shows weakness in bulls strength. (Bearish) Verdict: Bearish Plan of action: Look for a 15-minute candle; make a position based on the PA marked on the chart.
NSE:BANKNIFTY
by finnova_
Bank Nifty - 23/01/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 23/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 45970 – 46000 Important Support and Resistance for the Day... Support - Resistance - Support-1: 45970 Resistance-1: 46185 Support-2: 45860 Resistance-2: 46255 Support-3: 45690 Resistance-3: 46370 Support-4: 44340 Resistance-4: 46488 ____________________________________________ 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 Special session analysis 20 Jan 24NSE is running special trading sessions to test the disaster management platform. There is no compulsion to participate in the trading for today. But if you wish to, here is the analysis that you can follow. Banknifty has been in the range of 45600-46200, which is marked as a sideways zone for BN. They were also looking at OI data PCR = 0.58, which is super bearish. But NIFTY is bullish. Also, BN monthly expiry data is bullish, indicating a chance of recovery. As it has also formed a triple bottom, it can recover. But as it is testing day, only a few traders might participate, which might lead to sideways momentum. I am expecting it to end in a sideways zone only if it does not break the zone to the downside. Reasons : Price < EMAs shows bearishness in the market. RSI < 40, which shows the weakness of bulls; even though it goes up, it has to cross 60 to be bullish—so there are more chances for it to end sideways today. OI data PCR = 0.58 shows a very bearishness signal in the market. It's trading in the sideways zone right low looking on the chart, and OI data doesn't break either side. More chances are to end up a sideways day. Verdict: Sideways or Bearish Plan of Action : Don't go for option BUYING; you can sell options after seeing 15 min candle PA.
NSE:BANKNIFTY
by finnova_
Bank Nifty - 20/01/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 20/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 45910 – 45936 Important Support and Resistance for the Day... Support - Resistance - Support-1: 45560 Resistance-1: 45910 Support-2: 45247 Resistance-2: 46185 Support-3: 45105 Resistance-3: 46406 Support-4: 44958 Resistance-4: 46570 ____________________________________________ 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 - 19/01/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 19/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 45755 – 45775 Important Support and Resistance for the Day... Support - Resistance - Support-1: 45430 Resistance-1: 45900 Support-2: 45247 Resistance-2: 46185 Support-3: 45105 Resistance-3: 46406 Support-4: 44960 Resistance-4: 46570 ____________________________________________ 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 on Thursday 18/01/2024Bank Nifty shows big fall as per price action, I said before market was pumped for a big fall, Now market have no more liquidity at this place, so market will show again up side momentum for next few days to accumulate liquidity... but still one more big fall is remaining as per price action.. market will not go down until it breaks 45979 (major support) Here is the levels (Marked Red) for day basis, Resistance: 47113 46949 46641 46466 46389 46238 Support: 45979 (This is major support on 5 min,15 min,1 hr., 4 hr. time frame) Note : Market may show false brake down This is my personal view only for educational purpose
NSE:BANKNIFTY
by bornforseain1984
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
BANKNIFTY prediction for tomorrow 18 JAN 2024As we have been discussing BankNifty in the last few days, it's going to be bearish. Today, it gave a massive bearish momentum with 2000 points to the downside, which is registered as the biggest fall of BN after Corona. If we look at the chart data now, it was in the range of 47000 se 48250, which has been broken to the downside successfully. Now, the next levels of support are 45693 and 44938, which I45693 is achievable easily if it gains momentum. Also, the BN target of range breakdown is still not completed (target 45680). If we look into OI data PCR = 0.65 (weekly), 1.1 (next expiry). Looking at the levels, 46000 has huge PE writing. If it breaks to the downside, there is not much obstacle. We can easily achieve the target marked on the charts. I expect the market to fall tomorrow. It will provide a very nice target if you are able to short the market at a high point after a retracement. Reasons: Price < EMAs, which indicates the weakness of bulls or bearishness. RSI < 40, oversold zone shows bulls are weak at this point. So some retracement and then again fall is expected. Price < VWAP that shows bearishness in the market. OI data shows PCR = 0.65 which is bearish. 46000 still has nice PE writing left, but once it breaks, it will fall smoothly. (Bearish) 46680 and 45000 are potential support zones for now if they behave nicely in Price Action. EMA(50,200) bearish death crossover, which indicates a trend reversal. (Bearish) Verdict: Bearish if breaks 46000 will provide a nice target. Plan of Action: Sell 46000 CE + BUY ~25rs CE (for hedge protection) after a retracement.
NSE:BANKNIFTYShort
by finnova_
3
Bank Nifty Analysis 17th Jan'24As mentioned previously avoid and beware of false break outs and traps same happend today in morning unable to break 48280 to 42300 false breakout and then back to days low at 48000 Stills looks buyer have controlled from falling below 48000. looks tomorrow may have gap opening in Bank nifty. See Bank nifty also making range between support & resistance keep eye on opening for tomorrow also expiry may turned out to be trend day. Support 48000 Resistance 48200 to 42300
NSE:BANKNIFTY
by Price_actiontaker14
Bank Nifty - 17/01/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 17/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 48160 – 48180 Important Support and Resistance for the Day... Support - Resistance - Support-1: 48050 Resistance-1: 48165 Support-2: 47867 Resistance-2: 48250 Support-3: 47826 Resistance-3: 48305 Support-4: 47755 Resistance-4: 48380 ____________________________________________ 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 - 16/01/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 16/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 48035 – 48060 Important Support and Resistance for the Day... Support - Resistance - Support-1: 48060 Resistance-1: 48320 Support-2: 47940 Resistance-2: 48380 Support-3: 47830 Resistance-3: 48470 Support-4: 47700 Resistance-4: 48600 ____________________________________________ 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
BANKNIFTY prediction for tomorrow 16 th JAN 24As we discussed, BANKNIFTY yesterday, "If breaks will go bullish", it broke the pattern to the upside, and then it made a good bullish move, but it had quite high volatility. Now, it has broken to the upside; I am expecting it to go HH till 48500. Suppose we see OI data PCR = 1.25, which is bullish. Also, at higher levels, 48200 has minor resistance. If it breaks to the upside, then the direct target will be 48500. I am expecting it to go bullish till level 48500. Reasons: Price ~ EMA(13) means its balanced bullish. It has already given a breakout to the upside target marked on the chart. (Bullish) RSI 68, which is perfect for a bull run. (Bullish) The market already took support at 200 EMA. After that, it showed a bull market run and also broke the pattern with power. According to OI data, PCR = 1.25, which is bullish, with only minor resistance at 48200, but looking at bullish power, it will break easily. (Bullish) Price already took support at VWAP and became bullish. It will now continue till levels of 48500. Verdict: Bullish Plan of action: If the Market opens sideways, go bullish with CE buying. If the Market opens high, let it retrace, then enter.
NSE:BANKNIFTYLong
by finnova_
BANKNIFTY prediction for tomorrow 15 Jan 24 💰 💸 As we discussed, BANKNIFTY yesterday is "Bearish if it breaks to downside AND sideways in the RANGE." it could not break to the downside. It stayed in the range, resulting in a little bullish but inside the range. There was a minor trendline inside the range, which got a breakout, and then the upper range of the region touched, and some bearishness was seen from there. On the other hand, NIFTY gave a breakout and rallied. Now, if we see OI data, PCR is 1.0, which is bullish. But if we compare it to the NIFTY. Nifty has more bullishness than BANKNIFTY. As of right now, Banknifty is also at the surge of breakout. It broke to the upside, and it will be giving a very nice target till 48500. If it opens Gap-up, wait for it to retrace to EMA 13, and after the candle color changes, you can make a bullish entry. If we see OI data, 48000 is showing very good resistance, but if it clears, then we will have a clean target till 48500. Now, tomorrow, I am expecting it to go bullish if it breaks the descending triangle pattern to the upside. Reasons: Price > EMA(13,50,200) shows bullishness in the market. As it is forming a descending triangle pattern, If it breaks to the upside, it can give a very nice bullish momentum till the 48500 levels. RSI = 54 shows bullish once it crosses 60 to the upside; you can easily go bullish; if it breaks the descending triangle pattern, it will obviously cross 60 to the upside. PCR = 1.0, which is Bullish. Only 48000 is showing significant resistance. If it gets cleared, it will give me a chance to go to HH. 200 EMA will be providing nice support at this point. VWAP ~ Price, which shows market price is volume balanced. If it gives a break to the upside, there are higher chances that it will give nice bullish momentum. Verdict: Bullish if it breaks the descending triangle to the upside. Plan of action: check the 15-minute candle; if it breaks to the upside, you can go bullish as follows. SELL 47900 PE and BUY 46600 PE (for Margin Benefits)
NSE:BANKNIFTYLong
by finnova_
#Banknifty directions and levels for JAN 12.#Banknifty Banknifty has also progressed in sub-wave 4th (expanding diagonal). So, if it opens with a gap-up, there might be an undergo a 5th sub-wave. It may reach a minimum of 47,741 to the fib level 50%; after that, if it rejects sharply around there, then we can complete sub-wave 5th and anticipate the correctional (ABC) wave. This is the basic structure; however, if the market sustains or consolidates around there, then the 5th might extend. Bearish aspect: If the gap-up doesn't sustain or if it opens with a gap-down, it may take a range market structure. Alternatively, if it breaks the previous low, then we can expect correction continuation.
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY Prediction 12 Jan 24As we discussed, Banknifty has been moving in the range. Yesterday, it tried to break it to the downside, but the bulls came into power and again pushed back into the channel. Today, it opened a gap up and took resistance to the trendline, mostly having a sideways day. Again tried to break it to the downside, but the Bulls again pulled it back. Now, it's in the support zone. If it again breaks to the downside, it might give a nice momentum to the downside with a target of 47000. but if it breaks the trendline to the upside, it will be rejected from 200 EMA and might result in a sideways day again. If we see OI data, PCR = 0.80 weekly, which is neutral. But the monthly expiry PCR is 0.90, which leans towards the bulls side. Now, If it breaks the downside, a fall can be expected of 400 points. Otherwise, It might result in a sideways day in a range of 47450-48000. Reasons: Price < EMAs shows a bearishness in the market. (Bearish) RSI = 50, which is 40-60, mostly ends up a sideways day. If it breaks 60, it is upside bullish, or if it breaks 40, it is downside bearish; otherwise, sideways, 40-60 can be expected. OI shows PCR = 0.8 which is neutral. BN is making a descending triangle pattern that shows demand for an asset is weakening, so there are higher chances of breaking to the downside. Price < VWAP, which shows the bearishness. (Bearish) Verdict: Bearish if it breaks to downside AND sideways in the RANGE. Plan of action: Wait for 15 min to see Price action at opening; then place trades accordingly.
NSE:BANKNIFTYShort
by finnova_
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