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PostMortem on BankNifty Today & Analysis of 05 APR 2023 RBI MPCBefore we get into today's analysis let us spend some time on Inflation, MPC minutes by RBI & health of banking sector. You might be aware we have the MPC minutes & interest rate decision tomorrow. There are 3 possible outcomes status quo dovish hawkish  What really prompts RBI to rate hike are 2 things Inflation Liquidity in the markets Now the last minutes showed RBI not planning to lower its guard on fighting inflation - read here. What this means is that the inflation is still persisting at the upper band of 6%. And thats not at all good news for the economy as the cost of products keep rising at a level which will push a lot of people into malnutrition. The best tool the central bank has to counter inflation is to slow the economy by making the borrowing costs higher. ie increase interest rate (hawkishness).  In spite of the recent rate hikes, the 10YR GOI bonds reference index is trading at 7.27%. The banks has raised their lending rates as well as the deposit rates - but this is not materially felt in the GOI bonds or Gsecs. For comparison purpose, the 10YR US bonds has been plotted against the 10YR IN. Look at how steadily we have maintained a range whereas US bond rates has climbed 700% from the swing low. What I am trying to say is that the recent rate hikes here has not impacted the stock market, only if the higher tenure bond rates go up we can expect the stock market to fall. ie. people liquidating their equity scrips in favor of GOI bonds to get assured returns. Now the real reason why the Gsecs are not providing yields above 7.5% is something I have no clue on.  What happens if RBI increases the rates too much? The borrowers will have to cut down their expenses, capex etc to save money and reduce dependence on loans. One of the best way to do that is to reduce the employee strength. None of the previous rate hikes has triggered such a situation, RBI is also playing safe not to push it too much - a political move fearing the 2024 elections? I do not know.  Until they do that, people will continue to spend very heavily on commodity which will help inflation stay elevated. Recently the Govt. of India removed the LTCG indexation benefit for debt funds. Indexation benefit is the only thing that really accounts for the failure of the government in controlling the inflation. Because higher the inflation lesser will be the capital gains tax for the debt funds. Now the removal of this inflation index from picture is an open license to let inflation run elevated? I do not know. --- Coming back to the analysis part, NSE:BANKNIFTY opened well above the resistance level of 40880 at 40972. Made a strong 1st candle briefly coming below this SR and then closed higher indicating bulls may be in control. Today's NSE:BANKNIFTY performance might be skewed due to the moves in NSE:HDFCBANK - I am yet to figure out why we had a 2.68% gain in HDFCBK the highest weighted stock in bank nifty index. If you look at the opening minutes of the other major banks the counter balance trades that had to be done to keep NSE:BANKNIFTY at neutral position was so huge. NSE:ICICIBANK , NSE:KOTAKBANK , NSE:AXISBANK & NSE:SBIN had to go into negative territory to compensate for the weight exerted by NSE:HDFCBANK . And for some reasons these were not impacting the option prices. On some other day the option premiums would have shot up due to the uncertainty - but today we had a below normal premiums. Even with the MPC scheduled for tomorrow - there was no fear ! The option prices dipped below the usual Wednesday closing averages. --- 15mts chart is looking bullish now with the top most support point well defended. Bears can only hope we have a pull back rally, if they are lucky the HDFCbk trades could reverse tomorrow bringing NSE:BANKNIFTY back to the range. Charts do not work on hopes, but we humans do! --- 1hr is not bearish nor bullish. Further resistance break out will shift the sentiment in favor of the bulls. A decent pull back should be in the cards because of the distance price has covered from 27th March.
NSE:BANKNIFTY
by viswaram
Banknifty-06/04/2023-LevelsHello Traders, Welcome to SriTrader5121 ____________________________________ BankNifty-06/04/2023-Levels IMPORTENT ZONE FOR THE DAY : 40883 - 40920 Possibilities of Today market open... Possibility 1: FLAT If market open as a FLAT 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 FLAT 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 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 PDL and SELL with the Rejection of PDL. _______________________ 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-05/04/2023-LevelsHello Traders, Welcome to SriTrader5121 ____________________________________ BankNifty-05/04/2023-Levels IMPORTENT ZONE FOR THE DAY : 40680 - 40721 Possibility: GAP-DOWN If market open as a GAP-DOWN 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-DOWN and moves to DOWN-Side then BUY with the Support of PDL and SELL with the Rejection of PDL. _______________________ 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
FASP levels for Bank Nifty 05/04/2023The FASP for BankNifty is listed for 05-04-2023. 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:BANKNIFTYLong
by SathishChandrasekaran
#BANKNIFTY - 03/04/23 MARKET VIEWBased on the current market analysis, the Banknifty index seems to be exhibiting a bearish trend. Specifically, the price range of 40680-40720 could potentially serve as a reversal point for the market to shift towards lower levels. The expected targets in this case are 40410 and 40230. In addition to this, the trading volume is also providing indications of a downside momentum in the market, which further strengthens the likelihood of a bearish trend. To capitalize on this opportunity, one could consider shorting the market within the suggested range. However, it's important to implement a stoploss of 41050 to limit potential losses in case the market doesn't follow the anticipated trend. Overall, taking into account the bearish trend, reversal points, trading volume, and potential targets, shorting the Banknifty index within the range of 40680-40720 with a stoploss of 41050 could prove to be a profitable trading strategy.
NSE:BANKNIFTYShort
by DamisInvestments
[INTRADAY] #BANKNIFTY PE & CE Levels(03/04/2023)Today will be a gap up opening in BANKNIFTY. Expected opening near 40850 Level. After opening if banknifty start trading above 41050 level then possible upside rally of 400-500 points upto 41450. Any Major downside only expected in case banknifty starts trading below 40450. For today's session 40550 will act as an important support for banknifty. Upside 40950 will be resistance for banknifty and there will be reversal chances from this level upto 40550.
NSE:BANKNIFTY
by TradZoo
Banknifty weekly analysis for 03/04/23.Banknifty has formed a base and give another doji on the monthly charts. A nice morning star pattern in formed on the weekly charts, which shows some positivity. Though, the market on the weekly time frame is trading below the 20 ema. The market has closed near a crucila levels and if it cross nice bullish momentum can be there in the market. The daily chart's moving averages are close enough and a bullish moving averages crossover will be there. A "W" pattern has been formed on the daily charts. Bullish trades can be initiated, if after a flat opening the market crosses the 40610 levels. On the hourly charts, the market has been cleanly in the bullish momentum and all the candles of the trading session closed in the green and traded in a parallel channel. Global market are also trading in green and the Indian marekt can show another gap up in the next trading session. Support :- 40365, 40200 Resistance :- 40625, 40840, 41160 Wait for the price action near the levels before entering the markets.
NSE:BANKNIFTY
by TheMamboMomentum
BANKNIFTY 31st March OPTIONS IDEA (FRIDAY)BANKNIFTY 31st March OPTIONS IDEA (FRIDAY) NSE:BANKNIFTY The Bank Nifty index has been exhibiting a lot of volatility in recent weeks, with sudden dips and recoveries. As we approach the end of March, traders are eager to find profitable trade ideas in the banking sector. To help traders, we have analyzed the Bank Nifty chart and marked some important levels to watch out for during trading on Friday, 31st March. Bank Nifty may respect these levels, providing traders with potentially profitable trading opportunities. In this idea, we will discuss some Bank Nifty 31st March options ideas based on these marked levels and how traders can potentially profit from them. Follow these levels. Happy and Safe Trading!
NSE:BANKNIFTY
by Trader_Hu_Mai
Banknifty daily analysis for 31/03/23.As predicted the markets has given a nice up move especially Banknifty. The index has given a nice move touching 40k levels. The market tried to cross the 20 and 200 ema and faced resistance from the levels. Market has given a nice bullish candle on the daily time frame. On the hourly charts, the market has closed between both the moving averages. There was a consolidation and a break out in the last hour, giving some positivity in the market. Even the Dow jones has given a break out and is trading in the green at this time. If the global sentiments are positive, there is a possibility of another bullish day in Indian stock market. Support :- 39900, 39700 Resistance :- 40180-200, 40365 Never trade a direct break out, wait for the retest and create bullish trades once the market give a dip. Now the market shall be of buy on dips. Wait for the price action near the price levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
PostMortem on BankNifty Today & Analysis of 29 Mar 2023 ExpiryQuite an eventful day today spoiled by the last 30mts surprise. Honestly how many traders were expecting a rally of 340pts between 15.00 to 15.30 - i was not. In fact i was expecting a fall towards the 39400 levels. Lets analyze the trades on the 5mts chart today. Open was inline at 39611 and we tested the resistance level of 39742 in the opening minutes itself. We spent an hour at this support/resistance zone before breaking out. Although the break was temporary. At 10.20 i posted on NSE:BANKNIFTY minds "$BANKNIFTY 39744 if it breaks will give a good push to CE option premiums hoping so !" The rationale of the breakout would be due to the strength bank nifty showed defending lower levels in the opening hour. This would have prompted CE shorts to cover their positions at profit/loss. Why am i saying this - i covered mine at a loss well before 10.00. The candle at 10.20 made a surge of 109pts ensuring 40000 CE jump 171% in the same 5mts. During expiry trading - option buyers are looking for these kind of opportunities & the sellers running away from it. This spike above the resistance did not last that long and we reverted to the mean level in some time. The next 4h 35mts were spent between 39668 & 399913 with no directional bias. At 13.47 i felt that bank nifty will fall below the SR level looking at the price action and posted this "$BANKNIFTY struggling to go up even after the resistance breach for me thats negative !" From that point till 14.55 my analysis was going in the right direction. I had also taken a bearish bet of 39400/39300 debit spread to capitalize my view (which went to zero at last). Honestly i was not at all planned for the last 30mts move. A surge of 343pts in 30mts that too with huge volumes. "$BANKNIFTY sorry had no clue about this last 15mts candle with exceptional volume spoiled the party !" --- What the last 30mts did today was to give the 15mts TF a new bias change, all of a sudden the chart is now not looking bearish at all. If we take out the next resistance the chart will go bullish too. --- 1hr TF shows a W like pattern forming, if we take out the next 2 resistance over the next 3 to 4 sessions - then the chart will lose its bearish view and go back to the range based territory. The volumes on the major banks in the last 30mts which caused a huge surge in the prices may have been year end rebalancing or expiration trades. There are big institutions that take bets even for a year, for eg: the positions for closing of FY22–23 series would have been taken in FY21–22 itself. Since today was the last day of the fiscal series (expiry today). See the cyan markers for the unusual volumes in 6 bank nifty stocks. To see the 11 charts in today's discussion visit viswaram. com
NSE:BANKNIFTY
by viswaram
2
Banknifty weekly expiry prediction 29/03/23.Banknifty has been trading in a range for last few trading session and has formed a dragon fly doji. The market has been forming a base for a trend reversal and can give nice bullish move tomorrow on monthly expiry. An inside candle has been formed. Bullish trades can be initiated once it starts trading above the previous day high. RSI is showing a bullish divergence, and the market in the closing hour has given a nice bullish move. On the hourly charts, the market has closed above the 20 ema. It has been trading near 50% fibonnaci level and has closed above it, move and retest has been done, the market has also consolidated and there will be a big break out. Support :- 39400, 39300 Resistance :- 39600, 39765, 39960 Index has been taking rejection from 200 ema, 15 minutes time frame, and has closed near the level. If the market starts trading above the EMA, bullish trades can be initiated. Wait for the price action near the price levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
FASP levels for BankNifty 29/03/2023The FASP for BankNifty is listed for 29-03-2023. 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:BANKNIFTYShort
by SathishChandrasekaran