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Bankniftyoptions

PostMortem on BankNifty Today & Analysis of 08 MAY 2023I am still keeping my hopes pinned on the Fibonacci levels marked as in the chart below. 43739 recent swing high, 42581 last session swing low and 43296 the 61.8% retracement level. It really looked like a short-selling setup as the bull momentum faded out after 11.15 - we went up 1.46% ~ 622pts today but it really felt like the thrust to go up further was missing. I am still not denying that the medium term trend is still bullish - but the overhang of the selling of Friday is still in the hunt. 5hr 50mts i.e barring 4 5mts candles, the rest of the trade was in a narrow range 43171 to 43390. I got the feeling that the bulls & bears has not really negotiated who is winning, thats when I checked the FIB levels. NSE:BANKNIFTY made 670pts jump in the opening 45mts of which 537pts ~ 80% of the move came inside 20mts - looks like a short covering rally. The squaring off of short CE positions were evident in the opening minutes and whoever had taken those positions overnight would have been rewarded quite well. But most of them would not have expected the range bound trade to follow after the initial spike. Since its Finnifty expiry tomorrow, there was no sign of new positions getting created to play. Guess the participants were happy to leave NSE:BANKNIFTY alone today. --- 15mts TF may have dented the hopes of few weak bears today as 2 resistances were taken out i.e. 43012 & 43253 - which leaves banknifty at a similar level as on 03 May. And most of you would remember what happened on the next day - the mighty rally of 372pts to close the ATH gap. --- 1hr even though bullish has to answer this question, will the next few sessions take NSE:BANKNIFTY below 42576 to create a lower low & make today's level as a lower high? Or will it zoom past 43750 to nullify the blip that just got created. On 5th we discussed the possibility that the news/event driven trade spoiling the technical analysis. So now we need to wait till sanity returns (mostly we will get it right on 9th May during Finnifty expiry) --- NSE:NIFTY is not looking bearish at all, its more positive than banknifty and is showing more willingness to go to 18419 levels soon. Now we all know only 1 outcome is possible - and banknifty has more than enough strength to cancel out nifty50's plans too.
NSE:BANKNIFTY
by viswaram
Banknifty weekly analysis for 08/05/23.Indian markets has been trading in green since last 2 months. The financial sector has outperformed as the Nifty finance is trading above 19k and Banknifty around 43k levels. Market has outstretched, finally some profit booking is coming. Banknifty has given a bearish candle on the weekly time frame as well as on the daily charts. Banknifty can retest the 42300-450 zone and the 20 Ema (daily). A swing bearish entry was initiated on the MA strategy. The market has given a nice profit in the last hour of the market session. The shorts should be held for another 100-200 points target with a logical trailing Stop Loss. The major support zone for the markets is 41700-800 as there is a confluence of 38.2% fibonacci levels. Levels for next week Support :- 42400, 41700-800 Resistance :- 43000, 43400 Bullish swing trades can only be initiated once the market start trading above 43600. Wait for the price action near the levels before entering the market. Cut your losers, hold your winners.
NSE:BANKNIFTY
by Mambotrade
#BANKNIFTY - 04/05/23 MARKET VIEWIn the past two days, Banknifty has demonstrated a notable weakness in its performance, signaling a potential downturn in the coming days. Today's key reversal is expected to take place within the range of 43450-43550, indicating a potential shift in market sentiment. Given this forecast, traders may want to consider taking a short position on Banknifty Futures or buying month-end Banknifty 44000PE at the aforementioned levels. However, to mitigate risks, traders must set a strict stoploss at 43600, ensuring that any potential losses are contained. With a target range of 43200, 42900, and 42500, traders can leverage this opportunity to potentially reap significant profits, while also accounting for market volatility and uncertainty. By keeping a watchful eye on market trends and maintaining a calculated approach, traders can maximize their chances of success in this dynamic and competitive industry.
NSE:BANKNIFTYShort
by DamisInvestments
Banknifty: Brace yourself for 43000.BankNifty is poised to potentially achieve a new high above the 43000 level. Our analysis indicates that it has been consistently making higher highs, while failing to establish a new low, indicating a trending market for the past few days. We have observed heavy put writings on levels below 42900, suggesting that a little bullish momentum could still provide opportunities to enter on retracement around the 42860 to 42920 range. Currently, I am holding at 42800 and am already in profit. I will be closely monitoring the 42921 to 42938 range, where a double top formation could signal a potential reversal. However, for this scenario to materialize, we will need to break below the 42781 level to confirm a bearish outlook. closely observing the market to see how it unfolds.
NSE:BANKNIFTYLong
by Doinel33
BANKNIFTY : Levels for 25th AprilBANKNIFTY opened gapup & took support of zone we marked on chart. after giving good up move its stop at daily resistance mark on chart. Dot to dot point No next it should take 15 min swing support mentioned on chart for further up move. Lets watch candle stick patter & follow price actions. I have given my personal view on this video for Nifty & Bank Nifty. Like, Share, Comment for regular updates. Disclaimer I am not sebi registered analyst My studies are Educational purpose only Please consult with your Financial advisor before trading or investing I may be 100% wrong as its my personal view only.
NSE:BANKNIFTYLong
by ChartsSpecialist
PostMortem on BankNifty Today & Analysis of 21 APR 2023Just a bit of negative bias today - nothing major to be worried about! Banknifty still has outperformed NSE:NIFTY this week. And trust me the chart of NSE:BANKNIFTY is looking strong. Today we opened inline at 42252 had 2 strong green candles and then started falling. From 09.30 to 13.05 we fell 0.99% ~ 419pts - but the options premium did not surge exponentially. Since the India VIX is ~ 11.6 levels the fear in the markets are already at the lowest point. Looking at the downfall momentum gaining traction at 12.05 just after yesterday's swing low was taken out, I felt we may fall below the 41600 level today. Unfortunately that did not happen & my wednesday's opinion now stands corrected. Even after the fall today, bank nifty's chart is still showing bullishness, how the global trade happens today might have a role to play on Monday. --- 15mts is now in a sideways range from 17th. 41968 to 42500 has been the swing this week if not for a blip highlighted in blue. --- This week's price action makes a flag & pole type of pattern (even though not perfect) on the 1hr TF. The chart is not showing any signs of slowing down. We hoped the 41624 support levels will get tested this week - but that scare is now out. What will the bears do now?
NSE:BANKNIFTY
by viswaram
clear head & shoulder in bankniftyIn the case of #BankNifty, we can see that the pattern has recently emerged, with a clear head and shoulders formation that is currently in the process of inverting. In 5 minute chart we can clearly see The left shoulder was formed, followed by a sharp drop and a bounce-back that established the head of the pattern. This was followed by a pullback that formed the right shoulder, with the neckline running through the range of 42110-42140. If the neckline is broken decisively, it would confirm the inverted head and shoulders pattern, and indicate a potential bullish reversal in the market. In this scenario, traders may consider entering long positions with a target of 42555 or even higher.
NSE:BANKNIFTYLong
by Doinel33
2
PostMortem on BankNifty Today & Analysis of 17 APR 2023NSE:BANKNIFTY really held its cool today! During preopen INFY was showing an open rate of -10%, and everybody would have thought we are going to see a massive sell off today. IT sector in total was in focus today as the INFY even though had not so bad results was quoting at 10% lower circuit. I think I saw it go down to 12.3 or 12.5% - since I do not track the IT index that closely, it did not really bother me. However I was excited to see how bank nifty will react. You might be aware that a sell-off in IT will impact the banks the most. A recession or a job loss in IT would mean a lot of NPAs and loan defaults as IT employees are the main people who take exuberant loans at unbelievable valuations. The opening chaos is very visible in the charts of NSE:HDFCBANK , NSE:ICICIBANK and NSE:AXISBANK . NSE:SBIN had a contradicting pattern and surged ahead. NSE:KOTAKBANK was least impacted- the opening volume was unusual and it had a bright day. At 10.05 bank nifty secured its feet and then started climbing. So this blip stayed only 45mts and you would not believe how the price action from the last session continued today also. The 45mts of downward fall was well negated by what followed. I guess the dip buyers were back and immensely supported for a close +130pts today. It will also meaningful to showcase the Nifty50 chart also, since IT index took a huge beating today, it was visible in Nifty50. There was a recovery post 10.05, but the close was in red unlike the bank nifty. --- The options data also requires special mention today, both banknifty and finnifty options were unaffected by the volatility, the NSE:NIFTY options had a good ride today. At a point I saw VIX hovering around the +10%, seeing the recovery in banknifty, I was immediately convinced the best place to take an option trade was Nifty50 instead of BankNifty. This makes an exciting week ahead. If there is further weakness in IT, it will spill over to the financial sector with a delay. --- 15mts on Banknifty says the uptrend is intact and today's blip has made no special impact. We need a support break of 41624 to get some attention of the bears ! --- 1hr also looking promising for the bulls, the next resistance at 42576. In fact in zerodha's TV chart a day high near this resistance level is visible, I am not sure why its missing in the TV chart directly. And today's price action rejection came at the resistance level only.
NSE:BANKNIFTY
by viswaram
Banknifty-13/04/2023-LevelsHello Traders, Welcome to SriTrader5121 ____________________________________ Banknifty-13/04/2023-Levels IMPORTENT ZONE FOR THE DAY : 41480 - 41497 Possibilities of Today market open... Possibility 1: FLAT 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 : GAP-UP If market open as a FLAT and moves to UP - SIDE then BUY with the Support of R and SELL with the Rejection of R. (or) If market open as a FLAT and moves to DOWN-Side then BUY with the Support of PDH and SELL with the Rejection of PDH. 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. _______________________ Happy Learning and Trading 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 - POSITIONAL VIEWThe Banknifty index has been demonstrating an upward trend on a daily basis, although at Damis Investments, we anticipate a potential short-term decline. This is attributed to the fact that the current momentum appears to be primarily driven by news rather than sound market fundamentals. As a means of substantiating our bearish stance, we would like to present you with key resistance levels that can be utilized to establish short positions. Notably, the Banknifty spot's significant resistance ranges from 41450-41650 and 41800-42000. Hence, one can take advantage of this opportunity to initiate a short position within the given range, targeting 40950-40750 with a small stop loss at 42100.
NSE:BANKNIFTYShort
by DamisInvestments
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