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Bankniftyoptions

BankNifty Trade Setup for 31-07-2023BankNifty important intraday levels to watch for 31-07-2023 #Support: 45240 Short if candle closes below 45240 #resistance: 45500 Long if candle closes above 45500 #Targets on downside after break of support. Target 1= 45040 Target 2= 45800 #Targets on upside after break of resistance. Target 1= 45670 Target 2= 45790 Target 3= 45980 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:BANKNIFTYLong
by InvestyourAsset
28 Jul ’23 Post Mortem on BankNifty | Bears are still in controlBanknifty did not disappoint the bears as much as Nifty did today. The day began with a gap down right at the swing low of yesterday and in no time we reached the 45380 levels. From there we had a gradual drop to the intraday low of 45238. There was a pullback of 272pts ~ 0.6% but bears managed to close the day with a total cut of 0.46% ~ 211pts below yesterday’s close. NiftyIT had a bigger fall today, but the interesting aspect is the sector rotation was absent between the IT and banks. Instead all the other major sectors like energy, metals, fmcg took the initiative to keep Nifty close to green and away from a bear attack. On the 1hr TF we continue to hold onto our bearish view as long as the double top pattern holds. ... Comment with your thoughts, opinion or bias, I will respond with mine :)
NSE:BANKNIFTYShort
by viswaram
FASP levels for Bank Nifty 31/07/2023The FASP for BankNifty is listed for 31-07-2023. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTY
by SathishChandrasekaran
Banknifty weekly analysis for 31/07/23.Banknifty has formed a halt candle this week after a nice bullish move last week. On the daily time frame, it has taken a double support from 20 ema and 61.8% Fibonacci levels. The market has formed a doji on the daily chart. Though market has given a breakdown of the range it was trading but there is still confusion where will it move. On the hourly charts, market has closed between both the moving average. There are chance of market testing the 200 ema and if it also closed below it, 44500 levels can also be tested. The market is looking bullish on the weekly charts, confusing on daily charts and bearish on the hourly charts. Watch the market for intraday trades and closing of daily for swing and positional trades. Support :- 45300, 45100 Resistance :- 45500, 45650 Banknifty is trading in an area where there is resistance and support in small range. Small targets should be taken in this kind of market as there can be a sideways market. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
Banknifty trade setup for 28-07-2023BankNifty important intraday levels to watch for 28-07-2023 #Support: 45320 Short if candle closes below 45320. #resistance: 45550 Long if candle closes above 45550. #Targets on downside after break of support. Target 1= 45120 Target 2= 44750-44720 #Targets on upside after break of resistance. Target 1= 45790 Target 2= 46040 Target 3= 46380 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
27 Jul ’23 Post Mortem on BankNifty - Bears are getting ready 🐻Banknifty Monthly Analysis Banknifty has moved up 1353pts ~ 3.05% this expiry month, approx 0.7% lesser than Nifty’s movement. One possible reason was the slight retracement between 07 to 14 July whereas Nifty had managed that week pretty well. BankNifty Weekly Analysis Banknifty scored over Nifty during the weekly price move wherein BN lost only 0.85% ~ 391pts compared to 1.34% loss in Nifty. It was for this reason that we had gone short in Nifty last friday and did not do anything on BN. BankNifty Daily Analysis The day started quite boring today, we had a gap up opening due to which all the options premium were absolutely dead. I started expiry trades with Nifty options as they had more air left in it vs bank nifty. But as soon as the fall started, the CE premiums were jumping exponentially. This was true for Nifty options also. To get a favourable price I had to wait till 12.45 after which I switched to banknifty options. The CE premiums remained unusually high 14.15 after which they started dropping. While all this happened India VIX did not swing that much - remember we even had a -10% day this week on volatility. Probably VIX thinks the downward move is again a positional one & will be done and dusted by tomorrow? We see a M pattern i.e double top right at the all time high levels. Such a pattern cannot be left unnoticed and today’s move may just give it more relevance. On a 1hr TF we had all red candles today except the last one(which had only 15mts in it) ... Please comment with your thoughts, opinion or bias, I will respond with mine!
NSE:BANKNIFTYShort
by viswaram
2
Banknifty Expiry trade setupBankNifty important intraday levels to watch for 27-07-2023 #Support: 45900 Short if candle closes below 45900. #resistance: 46160 Long if candle closes above 46160. #Targets on downside after break of support. Target 1= 45770 Target 2= 45620 #Targets on upside after break of resistance. Target 1=46320 Target 2= 46490 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
Banknifty daily analysis for 27/07/23 (monthly expiry).Banknifty has finally traded and even closed above the 46k levels. After a gap up opening, it fill the gap and in the second half crossed the 46k levels. It has closed near the resistance zone of 46100 levels. Banknifty consolidated and gave a break out above 45950 levels. On the hourly charts, it has closed above the 20 ema and it respected the levels after a gap up opening. Tomorrow is monthly expiry and there can a trending market. On 15 minutes charts, the market totally respected the 20 ema and took support from the level, finally closing above it. Support :- 45980, 45830 Resistance :- 46080, 46250 Banknifty has retest the 38.2% levels and today has traded in a parallel channel. The breakout/breakdown can give nice target on the monthly expiry as there has been consolidation. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
Banknifty daily analysis for 26/07/23.Banknifty after a gap up opening came of selling initially and closed 80 points lower on the daily close. There is a bearish engulfing candle and market is taking support from 45600 levels. On the hourly chart, market remained in a 200 points range in the second half of the trading session. The market has formed resistances on the highs and are near by the trading levels. On 15 minutes time frame, market traded between both the moving averages and took support from the 200 ema and formed a V shape pattern. Support :- 45640, 45360 Resistance :- 45920, 46070 The market today remained in a sideway mode and has closed almost flat. Chance of a nice trending market can be seen in the coming days. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
24 Jul ’23 Post Mortem on BankNifty -Bulls lost control? Not YETI had a long call on banknifty and a short call on nifty50. All of us know very well that the probability of that happening is quite rare. Well we go as per what the chart says, banknifty showed strength on the last working day even when nifty was falling. Today also banknifty was staying strong until the 286pt fall from 11.30 to 11.55 - just after this price move weak links started appearing among the component stocks. The main culprit for today’s fall was Kotak bank that fell 3.7%. I would really say this could be a start! When HDFCBK came with results, we discussed the possibility of NPAs rising. In fact a rising NPA in an interest rate rising regime poses the same danger as an avalanche. When cracks start appearing - the breaks are going to be profound. Currently most of the banks will have good quarterly results mainly because they would have pushed the rate hike to their credit accounts (loans). The real test comes in when these loans go bad (default). I am not inclined to go short on banknifty yet, would like to see the price action for 2 more days before deciding. 45830 levels also might offer a small support - if this breaks then it might be interesting to look out for bearish opportunities. During the closing hour there was a small hint that CALL writers are getting interested - this might help tip the balance to the bearish side!
NSE:BANKNIFTY
by viswaram
21 Jul ’23 Post Mortem on BankNifty, still in a bullish trendBanknifty on the other hand was staying strong today, although it opened gap down, it closed down the distance in the opening 5mts itself. After hitting a new ATH of 46369.5, it started falling gradually. Banks were not at all looking weak today. Infosys fell due to poor guidance & Reliance fell after the demerger activity. Financial sector along with pharma and auto was providing support to nifty today. Between 09.25 to 12.25, banknifty shed 442pts ~ 0.95%, this was the period when nifty hit the initial low of the day. The real divergence came between 12.30 to 13.45 where banknifty retraced 318pts but nifty was unable to recover. A deeper look at the options flow would be useful to find the root cause why banknifty had no plans to fall today. CALL credit spreads were not getting written, this usually drives the options premium and gives a clue if banknifty is about to fall. The near money PUT premiums were not rising nor the implied volatility. Banks cannot stay high in isolation, usually when nifty makes large directional movement - the components & sub indices also align their direction in tandem. This is true even if they are in a counter trend independently. Banknifty is not looking bearish nor any short opportunity is directly visible, we will assess the situation on monday on how Nifty reacts to RELIANCE, SBI, ICICI numbers.
NSE:BANKNIFTY
by viswaram
20 Jul ’23 Post Mortem on BankNifty | Bull run is not stopping!Banknifty also outperformed this week, between the last expiry & today it is up 1443pts ~ 3.23%. Unlike Nifty50 my positional call on Banknifty did not go wrong, that was mainly because we negated a bearish trend line this week. Usually when the trendlines are broken the breakout momentum is so strong that it could take the index to an overbought level too. Daily Analysis Banknifty’s 5mts pattern has some story to tell, notice the period till 10.00 where nifty was falling, banknifty held its ground. In fact the real rally did not take off till 11.45. From there it went up 497pts ~ 1.09% by 14.30. This rally from a point of strength gave a steady grip for Nifty to play its natural game! We made a new ATH of 46256 today, the weird thing is we had a retracement of 231pts ~ 0.5% between 14.30 to 14.50, the pullback to that was more weird - we gained back all those points in the next 20pts. The expiry premiums for the PEs were quite unrealistic, the premiums were jumping so aggressively that it gave out a lot of easy money minting opportunities. Usually the volatility increases like this during market crashes. Probably this would be the first time where the PUT options were in deep green when the markets were going up.
NSE:BANKNIFTY
by viswaram
Banknifty daily analysis for 21/07/23.A 500 points rally took banknifty past 46k levels and market has closed above it. During the morning hour market consolidated and in the second half gave a rally of more than 400 points touching 46200 levels. On the hourly charts, the breakout of the previous day high gave a 350 points rally during the last hours. A sideway to bullish market will be there. Buy on dips is going on the market. Support :- 45850, 45370 Resistance :- 46250, 46885(fibonacci level) 200-300 points rally is there as per the flag and pole pattern break out. Watch the market closely before entering any bearish trade. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
18 Jul ’23 Post Mortem on BankNifty | 557pts fall in 1hr ?Banknifty saw some profit booking today & it seems healthy. Thats right after we broke the all time high by 09.25. Interestingly finnifty also hit the day’s high at the same timeline but it could not take out the previous ATH. There was a fall of 557pts ~ 1.22% between 11.15 to 12.20 but even this did not take banknifty much below the prev. close of 45449.75. It also means the selling momentum was not picking up pace - another bad news for the bears. Also the impact on Nifty50 was not heavy as NiftyIT started to support and rallied almost 1.6% afternoon. Hitting a new ATH for banknifty was something special, this has to do with the impressive quarterly results. Seems like the other banks may have similar or better numbers to report than Hdfcbk, saw the IndusInd bank results post market hours - that looked good as well. On an hourly time-frame banknifty is sill looking bullish - mostly because of its trend line break and the break-out momentum. Today’s fall was also arrested quickly which may be of interest to the bulls.
NSE:BANKNIFTY
by viswaram
Banknifty set for a great bullish move (18/07/23).A good bullish trend has started in the markets and banknifty has gained 600+ points on the daily charts. The market has crossed and closed above the previous close high of 45420 levels. On the hourly charts, there was a 470 points move in the last hour. Banknifty looks bullish and final there is a break out of the trend line. There is a bullish moving averages cross over, on 15 minutes time frame. Support :- 45420, 45240 Resistance :- 45655(ATH), 46000(fib level) A nice 50% fibonacci level retracement was done and now the market is set for another bull leg. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum