With nifty creating new highs every week, banking stocks might see good upmoves in the coming few weeks. In this video , I discuss few banking stocks setups which look to resume their uptrend . Cheers!
As we discussed, the Banknifty breakout gave quite a nice target today. As it was expiry today, the market turned sideways in the afternoon. If we look at the chart now: The market is trading at the resistance zone right now. Today, it has been sideways at resistance. After that, some selling came with good volume, which may be because of expiry today. The...
It has given a nice up move in a single candle and closed forming a flag and pole pattern. The market movement is consolidation, a move and consolidation again. Tomorrow being the weekly expiry banknifty may give a trending move. Major resistance levels :- 47700, 47830, 48000 If there is a gap up opening, there are chance of market moving even higher and...
Last week the markets were volatile. A M pattern formation and immediate reversal forming a V pattern shows the volatility. The market need to retest of halt on the upper levels before crossing the ATH. On friday, there was a 2.5% bullish move in banknifty it seem to be bullish as on intraday levels. Positional trades can also be entered, if market comes to...
As we discussed BANKNIFTY yesterday, Banknifty resulted sideways. Bulls guarded the support level tightly. If we look at the chart data now: The market has been taking support at the 47300 level. We were expecting some consolidation in the market today, which happened today. Now we have to wait for it to break the range (47200-47500) to the upside. If we look...
As we have discussed, Banknifty's bullish behavior in our last session gave a really nice momentum with 2.4%. If we look at the chart: The Banknifty has broken above the trendline, which indicates that the market is currently showing extremely excellent bullish momentum. After this breakout, the market can continue to the level of 48600. The market has been...
As we discussed yesterday, bank nifty took support at 45600 and then moved back to the bullish side with huge volatility. If we look at the chart data: The market is trading below the 200 EMA-(30-min TF). which may provide a good resistance at this point. 45700 has proven to be a good support zone. RSI still needs more strength to get a good bullish...
Let's discuss the BANKNIFTY prediction for tomorrow, as today was expiry, and it gave a nice fall. If we look at the chart data: The market is making a flag and pole pattern. Right now, it's in the Flag process, taking support at the lower trendline. 45600 seems to be the next good support point. If we look at the OI data: PCR = 0.60 shows the...
Banknifty has given a nice bearish move today and closed around the day's low. The market was trading in a range for last two trading session and gave a good momentum after a break down. There is a bearish sentiment as the market has closed below both the moving averages on the hourly charts. Tomorrow is monthly expiry for the indices and if there is another...
if bank nifty breaks out the level marked in the chart, it may go upside. Disclaimer: All information provided here is for educational purposes and not a recommendation. Analysis Posted here is just our view/personal study method on the stock. Do your own analysis or consult your financial advisor before making any investment decision.
Finally, Banknifty is trading above 47k levels and a bullish trend may start in the index. After closing in a range and forming doji candles, there is a bullish marubozu candle on the daily close. The bullish move can sustain as it consolidate before crossing the levels. Tomorrow, if there is a gap up opening around 47200-300, there are high chance of market...
If bank nifty breaks the downward channel, it may go near 47000 level. Disclaimer: All information provided here is for educational purposes and not a recommendation. Analysis Posted here is just our view/personal study method on the stock. Do your own analysis or consult your financial advisor before making any investment decision.
Hello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 27/02/2024 - Levels IMPORTENT ZONE FOR THE DAY: 46610 – 46650 Important Support and Resistance for the Day... Support - Resistance - Support-1: 46510 Resistance-1: 46650 Support-2: 46400 Resistance-2: 46800 Support-3: 46330 Resistance-3:...
Hello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 26/02/2024 - Levels IMPORTENT ZONE FOR THE DAY: 46910 – 46940 Important Support and Resistance for the Day... Support - Resistance - Support-1: 46725 Resistance-1: 46920 Support-2: 46600 Resistance-2: 47080 Support-3: 46480 Resistance-3: 47200 Support-4:...
BANKNIFTY looks to resume the rally to the highs of 48,500 once again after creating a textbook double bottom pattern which broke out from the neckline and consolidated at those levels. Expect higher prices in the coming days . Cheers
BankNifty Analysis - Stance Bullish ⬆️ BankNifty did not have as much of a wild swing as Nifty50 had today, interestingly the SR trendline (blue sloping line in the below chart) was in action. We fell below this support at 09.59 and stood there till 14.59. Only in the last 30mts we managed to go above this level. If you notice in detail it is when BN crossed this...
As we have been discussing, Banknifty has had a double-bottom structure for the past week. It has been consolidating at the neckline. Now, if we look at the chart data: The market is trading at the resistance area. Where the 4h-TF trendline is providing resistance. Also, 47323 is our price action resistance. 46426 is our recent price action support, which...
Banknifty looks weak if sustains below 46800 for the downside for 1000+ points. One can sell the trade and refer to targets marked on chart with green chart until 47210 is intact on the upside. To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team