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Bankniftyoptions

18 Sep ’23 Post Mortem on BankNifty - Go short below 45855BankNifty Analysis Banknifty showed more negative sentiment than Nifty. In Fact it is hard to digest that Nifty was staying strong when BankNifty, NiftyIT and Reliance were down. Quite a rare day. Recap from Friday: “For monday I wish to maintain the bullish stance and would like to reverse and go short only if the 45910 levels are getting taken out.” . Not only this prediction went wrong, but the reversal level of 45910 was not taken out conclusively. So from a trading standpoint - had a non-performing day today. BankNifty has made a smooth curved top like formation on the 1hr chart. If the next day’s trades are getting punched below 45900 levels - then the interim top can be confirmed for sure. I wish to go short below 45855 on Wednesday - and it is going to be the expiry day, so expect turbulence. Till the short level is not taken out - I wish to stay neutral.
NSE:BANKNIFTY
by viswaram
Banknifty TradeSetup for 18-09-2023Banknifty important levels to watch are as follows #Support: 46140 Sell below: 46140 only on 15 minute candle closure below the level. Target 1: 46020-46000 Target 2: 46850 #Resistance: 46315 Buy Above: 46315 only on 15 minute candle closure Above the level. Target 1: 46420 Target 2: 46600 #Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
NSE:BANKNIFTY
by InvestyourAsset
Bank Nifty Intraday levels 18/Sep/23Good Morning Traders, BankNifty stayed positive for 3rd straight day, rising half a percent of 231 points to 46232 and formed bullish candlestick pattern with minor upper shadow on the daily time frame, BANKNIFTY went closer to its record high on friday, but unable to give breakout. Guy's if i talk about weekly timeframe, still banknifty has formed long bullish candlestick pattern with above average volumes and gained 2.4 % in last week. Hence, the decisively close above all time high can push Banknifty towards 47500-48000 in coming months. Guy's keep in mind any big Dip in index can be buying, so please plan accordingly. Important Levels For Banknifty:- Support Zone 45500-45600 Resistance Zone 46300-46400 Buy above 46267, if levels sustains at least for 15 mints. Targets we can see in upside 46380/46535 Keep stop loss at 46091 Sale below 45889, if levels sustains at least for 15 mints. Targets we can see in downside 45745/45579 keep stop loss at 46091 Note:- Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou
NSE:BANKNIFTY
by TraderRahulPal
Banknifty weekly analysis for 18/09/23.After a nice upside momentum banknifty is now in a sideways trend and during the last trading session it has consolidated hitting 46300 levels. It is trading around the ATH and on the weekly charts there is a nice V-shape recovery for the markets. On the daily charts, there is a formation of a doji and has closed 230 points higher. Nifty has already crossed the ATH and is trading around the new high. Its time for banknifty to give a break out or take a halt and then give a break out. A good trading opportunity will be there if the markets consolidated and then give a break out as the market has already given a nice upside move. There is also a bearish RSI divergence on the daily charts which will not give much of a confidence in the bullish trade. On the hourly time frame, it has sustain above the moving averages and is still trading above it. If the market give a break down and close below the 20 ema there will be a chance of a momentum and hit a small target on the bearish side in a bullish market. Support :- 46080, 45860,45600 Resistance :- 46300, 46500(round number figure), 46830 (fib level) Banknifty is having good support on the lower side and it can reverse taking support from the support zone. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
14 Sep ’23 Post Mortem on BankNifty - just 0.8% to take out ATHBankNifty Analysis Banknifty had a decent range bound day today, but the options premium had some unusual jumps. I wasn't prepared to take advantage of those - especially during the open period as I was scanning for Nifty strikes to sell. After a few minutes I still saw the exorbitantly high OTM premiums both for PE and CE - but still couldn't capitalise as my margins were totally blocked. This scenario has occurred due to the shifting of banknifty expiry to wednesdays. The lack of liquidity is shooting up options prices and I assume most credit spread writers may be dearly paying for this. From a price action perspective, the sudden drop from 09.40 to 10.20 is still a mystery. Was it because we had a gap up opening and then the big-boys wanted a flattish closing so they had to sell a few heavyweights? We are just 389pts ~ 0.84% below the ATH. With the momentum gained - it's quite possible that we take this out over the next 2 sessions. I won't even be surprised if we hit it tomorrow. I wish to go with a bullish bias for tomorrow with stop loss being 45725.
NSE:BANKNIFTYLong
by viswaram
Banknifty daily analysis for 15/09/23.Finally, banknifty has crossed 46k levels and has closed around it. Today the market was a bit volatile and remained sideways after an initial gap up opening. It tested 46100 levels and reversed making base around 45850 levels and consolidated in a 150-200 point range in the second half of the session. On the hourly charts, the market hasn't given a close above our resistance level and has closed above both the moving averages. Watch for the markets and it would be good to trade only a perfect setup as there are chance of market going in a sideways to volatile mode. On 15 minute charts, market consolidated and traded around the 20 ema and has closed just above it. Support :- 45850, 45620 Resistance :- 45070, 45300 Banknifty is still close to the recent high but nifty has already crossed and given a close near it ATH. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
Banknifty daily analysis for 14/09/23.Banknifty on the weekly expiry has given nice up move and formed a bullish engulfing candle. It almost touched 46k levels and has closed above 45900 levels. Nifty has formed an All time high and banknifty is looking forward to hits it's new ATH. The market formed a base around 45300 and gained up side momentum giving a 600+ point move from the day low. On the hourly charts, market took support from the 20 ema and moved in the upward direction. It took a halt in the last hour of the session. Banknifty is still looking bullish but the market has stretched way too much. If it hit trades around the ATH there will be more chances of profit booking or retracement. On 15 minute charts, it breached the 20 ema and came back strongly crushing and moving higher than the moving averages and hitting our targets. Support :- 45630, 45330 Resistance :- 46070, 46300 Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
We can see consolidation in Bank NIfty in near Term (13/Sep/23)Good Morning Traders, Banknifty has witnessed a sell off after opening on higher and closed negative for the day. I think we might can see some consolidation in between 45800-45000 from short term perspective. Daily and hourly momentum indicator are providing divergence signals which could lead to a consolidation in near term. Global market also looking mixed today. Yesterday FII'S has sold shares worth of 1047 crores, while DII'S bought 259 crores worth of stocks. We might can see negativity in indian market in today's session. But Still long term trend is positive guy's always look opportunity when you see any big intraday fall. Intraday Levels for BankNifty:- Support Zone 45000 Resistance Zone 45800 Buy above 45639, if levels sustains at least for 15 minutes. Targets we can see in upside 45815/45968 Keep stop loss at 45351 Sale below 45351, if levels sustains at least for 15 minutes. Targets we can see in downside 45139/44968 Keep stop loss at 45639 Note:- Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou
NSE:BANKNIFTY
by TraderRahulPal
4
12 Sep ’23 Post Mortem on BankNifty - Rally is still not deadBankNifty Analysis Yesterday I had a long call on BankNifty - just because there was some room to catch up. In fact the banks did really well today not to concede the gains. Opening was a gapup like Nifty and we fell 424pts ~ 0.93% by 09.55. From there we had a minor reversal and went uptil 45620 (yesterday’s close levels) and then started falling from there. The leg 2 had a fall of 297pts ~ 0.65% and we hit the lows for the day by 12.55. The recovery from the leg2 was not that strong. ICICI, HDFC bank did well today and did not succumb to the broad based selling. The real reason Nifty50 had a flat close today was due to NiftyIT that rallied 2.1% between 09.55 to 12.00. 09.55 is the exact time stamp from where Nifty50 and BankNifty started its pullback. BankNifty is yet to play out the breakout pattern. Agreed that we had a good surge from the 44068 levels - but its not enough. Whether it will go up from here really depends on many factors. Globally things are not looking that great because the OIL prices are hovering around 92 USD. I wish to change the stance from bullish to 50% bullish & 50% neutral. My stop loss will be the 45275 levels below which I wish to reverse and go short.
NSE:BANKNIFTY
by viswaram
Banknifty weekly expiry analysis for 13/09/23.Banknifty after a gap up opening came for a profit booking and closed 60 points lower forming a red candle on the daily charts. On the hourly charts, it seem to consolidate after the initial sell off and has closed above both the moving averages. Market has given a nice bullish move and are stretched enough to give a retest or consolidation. It will be sideway or volatile before giving another bullish leg. On 15 minute time frame, it formed a lower high lower low formation and there are chance of market giving some retracement. Watch for option premiums as tomorrow is banknifty's weekly expiry and there are less chance of a trending move in market as it has already move alot. Support :- 45430, 45320, 45230 Resistance :- 45690, 45855 Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
11 Sep ’23 Post Mortem on BankNifty - some more ground to cover BankNifty Analysis Banknifty had a long call for today even though the I-CRR news would have impacted it more than Nifty50. One of the reasons is the distance left to ATH vs Nifty50. BankNifty had more distance to cover the ATH and for this reason I had the continuation of bullish stance from Friday. The strength in BankNifty was obvious when NiftyIT started giving up some gains. It was BankNifty’s persistence that kept Nifty surging ahead and finally helped it take out the all time highs. Once Nifty got its boost, even NiftyIT started contributing. During the last 1hr the boost Nifty50 got from all the sub sectors was humongous. For this same reason there could be some shaving off tomorrow unless BankNifty keeps firing. BankNifty has to catch up 691pts ~ 1.52% to take out its personal ATH. If this comes by tomorrow - then Nifty50 will also remain in green. Ideally it should. I wish to continue my bullish stance in BankNifty for tomorrow and expect a turbulent FinNifty especially for the near ATM calls.
NSE:BANKNIFTYLong
by viswaram
Banknifty daily analysis for 12/09/23.Nifty has formed a new ATH high and banknifty is around its ATH. There can be a halt in the market has it has given a nice one side move and has travelled from 44400 to 45500 without a retest. It has given a nice bullish candle and giving close 414 points higher. On the hourly charts, it has showed a bullish movement and it trading way far from the moving averages. The markets consolidated during the mid trading hours and gave a breakout and closed above 45500 levels. Support :- 45440, 45230 Resistance :- 45680, 45855 Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
Banknifty weekly analysis for 11/09/23.Banknifty has moved higher by 720 points this week, closing above the round number figure of 45k. Market remained bullish this week owing to the ongoing G-20 summit. On friday, banknifty closed at 45156 gaining 278 points. It has taken a good support from the weekly 20 ema and consolidated around in for 3 weeks and has given a break out. On daily charts, banknifty was struggling to cross the 20 ema but has crossed and sustained above it. The market has formed a nice bullish pattern of higher highs higher lows and is giving a good consolidation and a breakout. On 15 minute time frame, it took support from the 20 ema and has closed above both the moving averages. It also showed a fake of 45200 levels. Support :- 45080, 44860 Resistance :- 45220, 45370, 45500 Market looks bullish but still banknifty is taking resistance from 61.8% (around 45350) fibonacci levels of the major trend. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
08 Sep ’23 Post Mortem on BankNifty - Stance is still bullishBanknifty was also continuing from the momentum it got from the last hours of 6th Sep. We had an intraday rally of 563pts ~ 1.26% to hit a new swing high of 45383. Again the bulk of the contribution came from HDFCBK. The candles at 14.30 & 14.35 took out some steam or else the 45400 levels may have been breached today. Those 2 candles are the reason why I am a bit cautious for Monday - as I said in the Nifty analysis above, I need to wait and watch how the market reacts to the I-CRR partial withdrawal news. The important levels have been highlighted in orange horizontal lines. 44967 is already taken out today, the next resistance is 45398 and then 45719. BankNifty has a bit more ground to gain with respect to Nifty to take out the ATHs. Any positive news on the I-CRR will give it more wings, whereas negative news might create a huge fall. Since we are dependent on fundamentals on Monday - it is best advised to stay out. Technically I wish to maintain the bullish bias and hoping for a close between 45398 and 45719 on Monday.
NSE:BANKNIFTYLong
by viswaram
Banknifty daily analysis for 08/09/23.Banknifty has given a nice marubozu candle on the daily charts and there is a bullish mat hold pattern. It broke the resistance zone of 44650 levels and has travelled to touch the resistance of 44900. Banknifty has given a nice up ward move from the first hour after retesting 44350 levels. On the hourly charts, there is a bullish moving averages cross over and market held onto take support from the moving averages. A nice 1% move is there in banknifty and it was stronger than nifty. Now the major resistance area is around 45000-45100 levels and if it is cleared than the bullish trend will be confirmed. Support :- 44650, 44500 Resistance :- 44910, 45080, 45350 Watch banknifty moving above 45000 levels, once the levels are cleared and market sustain above it, there are chance of a nice upside targets. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
07 Sep ’23 Post Mortem on BankNifty, change in stance to bullishBankNifty Analysis The real reason Nifty50 outperformed in the last 90 minutes was BankNifty. Even NiftyIT contributed, but since the weightage of banking stocks are higher - that made a real difference. BN rallied an impressive 512pts ~ 1.16% from the lows to the highs today. You might remember the 1hr chart we discussed yesterday, as long as banknifty was staying beneath it - the sentiment would have been bearish. And the moment it broke-out from that trap - it got additional wings. The reason 14.15 candle went up 221pts could be because of that. It is like the whistle from the pressure cooker - when the steam builds up ample pressure, it lifts the whistle and oozes out. The next resistance points are at 45353, 45727 & 46069. We will get to know tomorrow if the build of steam is good enough to cruise through. I wish to change my stance from neutral to bullish for tomorrow.
NSE:BANKNIFTYLong
by viswaram
06 Sep ’23 Post Mortem on BankNifty & Weekly Expiry AnalysisBankNifty Weekly Expiry Analysis Between the last expiry and today, banknifty got only 4 trading sessions. The last expiry was on Thursday and from this series we have weekly expiries on Wednesdays now. We have gone up by 405pts ~ 0.92pts although the chart doesnt give you that impression BankNifty Today Analysis Banknifty had some strange price behaviour today. Firstly it was its first independent expiry after having moved out from Thursdays to Wednesdays. Strange because except HDFCBK every other bank was in the red. Price wise we fell 0.83% ~ 368pts with the low point being 44207. HDFCBK with its 41% weightage on banknifty can single handedly dictate the terms. Firstly I am not very sure all the banks were falling today & HDFCBK outperforming by a huge margin. This screenshot was taken at 11.54 and see the anomaly. On the 1hr TF banknifty is still respecting the triple top formation made on the descending trend line. I had a neutral call yesterday and would like to maintain the neutral stance till this status quo is maintained. If BN falls below 44068, I would prefer to go bearish. And if it goes past 44900 we can expect more bullishness.
NSE:BANKNIFTY
by viswaram
Banknifty daily analysis for 07/09/23.Banknifty has given a gravestone doji again and closed 123 poinnts lower. It has been trading around the 20 ema. The market has retested the 50% fibnocci level and retraced back in the last hour of the trading session. On the hourly charts, traded around the moving averages and gave a break down. During the last hour market recover and took resistance from the 200 ema, closing between both the moving averages. It created a base around 44250 levels and formed a morning star pattern. There is a U-shape recovery, on 15 minutes chart, which shows some bullishness in the market. There are chance of a bullish moving averages cross over on the smaller time frame as botht the moving averages are close by. Now market has closed around 44400 levels which give space for banknifty to move and either give a break out or break down. Support :- 44350, 44250, 44100 Resistance :- 44550, 44660, 44750 Banknifty on the weekly expiry showed some movement and during the last hour there was a volatile market. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
2
Banknifty Expiry TradeSetup for 06-09-2023Banknifty important levels to watch are as follows #Support: 44445 Sell below: 44445 only on 15 minute candle closure below the level. Target 1: 44320 Target 2: 44200 #Resistance: 44575 Buy Above: 44575 only on 15 minute candle closure Above the level. Target 1: 44650 Target 2: 44780 #Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
NSE:BANKNIFTY
by InvestyourAsset
05 Sep ’23 Post Mortem on BankNifty - Neutral till 44900 brokenBankNifty Analysis Although having all the conditions in its favor, BankNifty did not rally today. The 5mts candle at 10.15 which took out 115pts was trying to tell a story. In fact we dropped a total of 267pts from the high to the low of the day. From the lows BN managed to climb back 140+ points but I am still unable to decode the directional intent. That is mainly because on the 1hr TF, Banknifty has almost made a triple top kind of pattern on a descending line. I wish to maintain my neutral stance for tomorrow and wish to go bullish if 44900 is getting taken out tomorrow. If we drop to 44068 levels, I would prefer to wear the bearish shorts again.
NSE:BANKNIFTY
by viswaram
Banknifty weeky expiry analysis for 06/09/23.Banknifty weekly expiry has changed from thursday to wednesday. Option trades watch the option premium as they will expiry tomorrow. On the daily charts, market has again tested the 20 ema and has formed an inside candle. Market again after a gap up opening came for selling and closed 65 points lower. On the hourly charts, it tested both the moving averages and recover touching the lower one. The market in the second half didn't gave any move and created volatility. Banknifty has consolidated in a range of 2 trading session and tomorrow being it expiry, it can give a nice move. Be watchful as Indian Vix is still on the lower side trading around 10. It traded around the 20 ema, on 15 minutes, and closed just above the level. Support :- 44250-44440, 44100 Resistance :- 44650, 44750, 44910 The big zone on 100 points on the lower side is crucial as it has been giving support to the market. Let the market break this zone, if you wanna go bearish. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum