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Bankniftyoptions

Banknifty daily analysis for 16/01/23.Banknifty on the weekly charts has formed a doji and has respected the weekly fib levels too. The market remained for selling whole week and in the last session closed gaining 290 points. The market for 3 days has been forming dragon fly dojis but still trading below 20 DMA. On the hourly charts, the market has crossed the 20 ema and closed between both the moving averages. The market has taken a nice support from 41800 levels and regained the 42k levels. Banknifty is still below 38.2% fib levels and once the level is crossed nice movement can be seen as there are doji on the higher time frame. On 15 minutes charts, the market has closed above both the moving averages and the market has formed a nice pattern (break out and retest). If the market crosses and sustain above the previous day high, it can gain some momentum. Support :- 42280-320, 41900 Resistance :- 42430,42700, 42910 The global markets are in a positive momentum and Indian market can follow global markets. wait for the price action near the price level before entering the markets.
NSE:BANKNIFTY
by TheMamboMomentum
FASP levels for Bank Nifty 16/01/2023 The FASP for BankNifty is listed for 16-1-2023 . 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
PostMortem on BankNifty Today & Analysis of 12 JAN 2023 ExpiryWell for starters - yesterday's bullish call didnt go that well. NSE:BANKNIFTY ended 0.21% lower. Luckily its only down 37 odd pts because at 13.35 we were 595pts ~ 1.41% from the HOD. If you had read by bullish call before that - you would have thought i am crazy. From an expiry trading perspective today proved to be an ideal day for traders both bulls & bears, thats because we had 2 swings today. Bears till 13.30 and Bulls in the last 1hr. But i think more traders would have lost money today, thats because by the trend set in the day - no one would have anticipated the recovery in the last 1 hr. So ATM option writers of call options would have hit into stop losses. Also there is an equal probability that buyers of PE option 42000 to 41500 would have lost much more - like i did. Anyways its not our cup of tea to tame the beast bank nifty is - we just need to survive to fight another day! I guess i should start trading US markets as my predictions are more accurate there, well it could also be because i dont have skin in the game there as i paper trade there. And here in India - since i deploy funds, my emotional aspect also comes into play ! --- US CPI data has come at 6.5%, last year it had increased 7.5%  Lets say the inflation value is say 1000 in Jan 2021, then by Jan 2022 it became 1075 and in Jan 2023 it became 1144.87 - i dont understand why people feel inflation is cooling down. Or is my math wrong? SP:SPX --- Looking at the bank nifty components, you would believe that we fell only 37pts today NSE:HDFCBANK was the only bank that fought for the bulls - up 0.53% NSE:ICICIBANK was the major contributor that helped BN cut its losses last 2hr. because it moved up 8pts ~ 1% NSE:SBIN was showing trend continuation pattern from yesterday, but the reversal from 13.45 helped it cut the losses to only 0.3% NSE:AXISBANK also had the last 2 hr recovery, but its pattern is still bearish. NSE:KOTAKBANK had some deep cuts earlier in the day, was down 1.84% by 11am a near vertical drop. Although there was some stability afterwards the chart pattern is still bearish. NSE:INDUSINDBK was just continuing from yesterday's trend. Prefer to say that volatility was relatively lower for this bank today comparing peers. --- 15mts chart may prompt most analysts to go bearish, but for me i would like to see the support level taken out first before going short. 1hr chart looks more bearish than 15mts thats because of the prior day's fall creating the illusion of fall. Until 41620 stays intact - its still not safe to go short.
NSE:BANKNIFTY
by viswaram
Banknifty daily analysis for 13/01/23.Banknifty has given 2 dragon fly dojis and if the market start trading above 42300 levels, nice movement can be captured. The market on the hourly time frame, has closed below 61.8% fibonacci level but between both the moving averages. The market took support around the 41750 levels and closed near 42100 losing 150 points. On the 15 minutes chart, market gave nice movement. Market was volatile today and around 12:30 gave a fake out. Support :- 42000, 41900, 41750 Resistance :-42100, 42340, 42650 Wait for the price action near the price level before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
PostMortem on BankNifty Today & Analysis of 11 JAN 2023If we look at the 5mts chart of NSE:BANKNIFTY , apart from the opening 30mts of volatility - we had a smooth day of trade today. Inline open at 42071 and dip below the support level by 09.20, the next candle perfectly closed below the SR and might have indicated further pain ahead. The option premiums even indicated that the market may fall further - but quite surprisingly that did not happen. The single candle at 09.35 took BN 442pt ~ 1.06% up breaking through the resistance level of 41940 & negating the opening price action.  Take a look at the 42500 CE, it went up 166% in a span of 25mts indicating the shorts are getting covered. We had discussed the possibility that today's price action may contradict yesterday's move if it was a NSE:FINNIFTY1! expiry positional build up. Now today has set the tone for tomorrow's bank nifty expiry. Its become an easy target to swing the top 6 banks of India one way on tuesday and counter move it on thursday - ensuring that technically with zero price move a ton of money can be made. If NSE does not stop this - a handful of traders will be able to mint money as easy as blinking. Well who am i to suggest?? The option premiums of PE is suggesting that bank nifty may move up tomorrow - but the premiums alone cannot be read in isolation as people will abandon position when market moves against.  --- Among the bank nifty components NSE:HDFCBANK moves sharply against yesterday's move. almost retracing 100% at 13.15 but gave up some gains towards the close NSE:ICICIBANK did not attempt to negate yesterday's rally instead it chose to stay above water flattish. NSE:SBIN also did not counter move to yesterday, but the price action seemed flattish NSE:AXISBANK bank showed negative price bias today continuing the price action from yesterday. NSE:KOTAKBANK had an inverted U shaped pattern 09.25 to 11.25 showing bearishness, but the final close was in green. NSE:INDUSINDBK the lone wolf yesterday did not put up a fight today & kept its head below water - probably conserving energy for further moves. --- 15mts is not showing bearishness until the recent swing low is taken out. As it stands it shows a sideways market 1hr chart has a higher probability of going bearish because the recent swing high is still not taken out - which means we are still expecting a lower low formation soon. to see all the 6 chart images of today's report visit viswaram . com
NSE:BANKNIFTYLong
by viswaram
Banknifty daily analysis for 12/01/23.Banknifty remained strong and closed 200 points higher around 42200 levels. From the initail hour the index consolidated and remained in a 200 points range forming flag and pole on smaller time frame. The market, on the hourly time frame, took resistance from 20 ema and closed near the moving average and resistance zone. On the 15 minutes chart, banknifty travelled in a parallel channel and closed between both the moving averages. If the market breaks out of the parallel channel, a bullish trade can be initiated with target around 42600 levels. Support :- 42050, 42840, 41650 Resistance :- 42340, 42600, 42900 The market has consolidated and a nice trending market can be seen tomorrow on the expiry. Wait for the price action near the price level before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
BankNifty-11/01/2023-LevelsHello Traders, Welcome to SriTrader5121 ____________________________________ BankNifty-11/01/2023-Levels IMPORTENT ZONE FOR THE DAY : 42178 - 42200 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 H_R and SELL with the Rejection of W_O. (or) If market open as a FLAT and moves to DOWN-Side then BUY with the Support of PDL and SELL with the Rejection of PDL. Possibility : GAP-UP If market open as a GAP-UP and moves to UP-Side then BUY with the Support of H_R and SELL with the Rejection of H_R. (or) If market open as a GAP-UP and moves to DOWN-Side then BUY with the Support of S and SELL with the Rejection of S. Possibility 3: GAP-DOWN If market open as a GAP-DOWN and moves to UP-Side then BUY with the Support of PDL and SELL with the Rejection of PDL. (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
PostMortem on BankNifty Today & Analysis of 10 JAN 2023NSE:BANKNIFTY fell 1.33% ~ 568 pts today, but the option prices were behaving like we had a 5% fall intraday. Yeah the intensity of the fall was quite strong, but the level in which options premium jumped - its quite hard to believe. What i feel is the Finnifty expiry on tuesday is creating unwanted speculation in Banknifty. This can be proved right if tomorrow we have a contradicting move. Lets look at the price action today - BN opened at 42642 just above the SR level of 42573. The first candle took out this SR and the selling was so intense that 487pts was taken out in 20mts.  Maybe this would have triggered the massive CE options writing that snowballed the effect. BN went ahead and broke the next support of 41940 at 12.50. Right after this we had our first pull back. The 2nd leg which started at 13.55 looked dangerous at 14.25 but did not fall further. The last 45mts rally ensured the SR level is now breached via resistance.  So if we look at the day's chart we did not have even a 1 support break conclusively. Yesterday we did discuss the possibility of a breakdown in Indian markets if US is not rallying, esp when FIIs are positioned on the sell side. If you go by the levels US markets closed on Friday - SPX 2.28%, NDQ 2.78% we should have started much more strongly…banknifty.medium.com --- Among the bank nifty components NSE:HDFCBANK fell quite strongly from open till 10.25 (consecutive red candles). The next 5 hours was spent at this level only NSE:ICICIBANK fell much deeper, the first leg of fall ended only at 14.35 after which we had a minor pull back. NSE:SBIN too had deep cuts today, the first leg of fall till 12.45 and then a recovery till EOD NSE:AXISBANK relatively did not fall that much, but the first leg of fall was not arrested till 14.25, the recovery till close ensured that cuts were not that bad. NSE:KOTAKBANK had brief recovery periods till 14.25, 2 precisely. So the fall was slower comparing SBI and HDFCBk NSE:INDUSINDBK was the lone wolf fighting in green today, up 0.73% - the price moves were unbelievable --- The 15mts and 1hr chart has now confirmed the price action of 9th Jan stands negated. We have a lower high formation in 15mts, but no clarity in 1hr until the next support at 41629 is taken out. --- More ideas at viswaram . com
NSE:BANKNIFTY
by viswaram
Banknifty daily analysis for 11/01/23Banknifty has formed a nice bearish trend on the daily charts. And if the market breaks below 42920, it can test 41650 levels. On the hourly charts, the market respected the 41900 levels and closed above 42k level. It closed below both the moving averages. There is a bearish moving average cross over and market started trading below the previous day low. On 15 minutes chart, the market has formed a bearish pattern and closed near 20 ema. The market has taken a drop from 50% fib levels, closing 500 points lower. Support :- 41840-880, 41650 Resistance :- 42300, 42600 The has given a retest and started dropping. The market can remain bearish, once today's low is broken. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
BankNifty-10/01/2023-LevelsHello Traders, Welcome to SriTrader5121 ____________________________________ BankNifty-10/01/2023-Levels 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 R and SELL with the Rejection of R. 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 R and SELL with the Rejection of 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-09/01/2023-LevelsHello Traders, Welcome to SriTrader5121 ____________________________________ BankNifty-09/01/2023-Levels IMPORTENT ZONE FOR THE DAY : 42289 - 42310 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 H_R and SELL with the Rejection of H_R. (or) If market open as a FLAT and moves to DOWN-Side then BUY with the Support of H_S and SELL with the Rejection of H_S. Possibility : GAP-UP If market open as a GAP-UP 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 GAP-UP and moves to DOWN-Side then BUY with the Support of R and SELL with the Rejection of R. Possibility 3: GAP-DOWN If market open as a GAP-DOWN and moves to UP-Side then BUY with the Support of S and SELL with the Rejection of S. (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 daily analysis for 09/01/23Banknifty lost around 800 points in this week and closed near 42k levels. Though the index has been trading above the 20 ema but it is forming a bearish pattern on smaller time frame. Banknifty has tested the 38.2% fib level on the weekly charts and if it breaks below it, it can test lower levels. The market on the daily time frame, has closed below the 20 ema and took support around 41900 level. During the last trading session, the market formed a bearish flag and pole pattern and gave a nice break down of more than 300 points and regaining after touching the support level. On 15 minute chart, the market respected the 20 ema and took rejection from it and finally giving a close above it. Support :- 41920, 41650, 41375 Resistance :- 42340, 42645, 42900 The index is trading in a parallel channel formation. The US index Dow Jones has given a break out of the consolidation zone and closed gaining 2%. Indian market can follow the trend. Keep an eye on SGX Nifty, if it is giving a positive move, Indian markets can follow the move. Wait for the price action near the price levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum