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Bankniftyoptions

Banknifty daily analysis for 01/12/22.Banknifty on the daily time frame has formed a dragon fly doji and gave a nice movement during the closing hour of the session. The index has been consolidating on the higher levels and can give a good moment either side as tomorrow is a weekly expiry. On the hourly time frame, the market has formed a W-shape pattern and is respecting the 20 ema. Market has given a U-shape recovery on the smaller time frame and closed above 43250 levels. Support :- 43000, 42890, 42770 Resistance :- 43270 The market has formed a triple top pattern. Wait for the price action near the levels before entering the markets.
NSE:BANKNIFTY
by TheMamboMomentum
PostMortem on BankNifty Today & Analysis of 30 NOV 2022 Feeling pretty tired after watching today's price action. For the last 3 days i have been looking out on the bearish side of bank nifty. The day started gap up and then a rally of 127pts in the first 5mts candle. This was inline with the recent swing high level - took an immediate resistance and then started falling. For once i thought my short sell view on bank nifty is finally working out. The fall that started at 09.20 went on till 11.25 almost a dip of 365pts. This fall made more bearishness as the nifty50 was still steaming ahead. Then we had a sideways move till 12.50. What happened after that is like a fairy tale. The first leg of upmove from 12.55 to 13.10 then the 2nd leg at 13.45 all the way to the close. From 13.45 bank nifty rallied 401pts with 2 strong green candles at 15.00 and 15.10. This not just took out the swing high but showed immense bullish momentum. The last 30mts move could be either an expiry special positioning or may be a rebalancing move. I am not really inclined to reverse by bearish bias with just this 1 occurrence. Lets wait for the price action on Friday for accurate direction. --- Of the bank nifty components HDFC BK started the day positively then the the entire day was near the flatline if not for the last 30mts spike ICICI Bank had fell into negative territory but the last 30mts ensured the day's high is taken out SBI did not take part in the last 30mts rally and was trading in the negative region all through the day. AXIS had turned positive by 13.40 and then got extra momentum in the last 30mts Kotak was trading with a negative bias, started showing recovery signs by 11.00. But the last 30mts had the best impact for Kotak IndusInd like SBI was trading in red, and the last 30mts rally did not boost the price. Notice the volume bars of all these 6 banks. This was the reason there was a surge in prices. This could be either an index or mutual fund rebalancing exercise. Looking at just this data will not provide conclusive evidence if its fresh buy. --- 15mts TF has taken out the swing high showing bullish signals. But it just came in 1 candle - which is kind of surprising 1hr TF shows bullishness ---
NSE:BANKNIFTY
by viswaram
Peanut & Double Top / "M" Chart PatternPeanut & Double Top / "M" Chart Pattern During the trading Season it was found that Double top is created by bank nifty Index. It is a Reversal Sign and another conclusion happen when peanut pattern shown in the chart. So trading wisely can save your money from lose and Gaining more eligibility to earning more from trading . After peanut pattern breaking enter the trade target was height of the patterns followed by Peanut and Double top . OPTION HUNTER @optionhunter4306 Thanking You
NSE:BANKNIFTY
by dasarijit245
Banknifty daily analysis for 30/11/22Banknifty on the daily time frame has formed a gravestone doji on the higher levels. The market can take a retest before proceeding to create new highs. On hourly time frame, the market has tested the 20 ema and closed near the level. Banknifty is unable to sustain above 43200 level. The market has formed a double top pattern on the smaller time frame. On 15 minute time frame, the market consolidated in a box and gave a break down in the closing hour of the session. Support :- 43950, 42850, 42770 Resistance :- 43135, 43270 Look for the global markets as the Dow jones was lower yesterday. If the global markets are weak, India markets can also come for a retracement. Wait for the price action near the levels before entering the markets.
NSE:BANKNIFTY
by TheMamboMomentum
Banknifty daily analysis for 29/11/22Banknifty on the daily time frame has given a bullish moment after a gap down and closed almost flat gaining 36 points. On the hourly time frame, the market crossed the 20 ema after a gap down and closed near the levels. The market whole day traded around the 20 ema (15 minute time frame) and closed below the moving average. Support :- 42950, 42770, 42675 Resistance :- 43135, 43220 The markets are waiting near the higher levels and can give another bullish move after the consolidation. Wait for the price action near the levels before entering the markets.
NSE:BANKNIFTY
by TheMamboMomentum
PostMortem on BankNifty Today & Analysis of 28 NOV 2022On Friday 25th, I had a bearish call for Bank nifty - read here. Did it work out as expected - ABSOLUTELY NO ! Refer the chart below, bank nifty opened gap down at 42757 and for a moment i thought its all going as per the plan. But the first candle itself was pretty strong and by 09.30 BN had closed down the gap. The period from 09.35 to 11.25 the moves were quite normal. But the move from 11.30 to 12.25 was pretty strong and convincing - all the candles green, all of them with good body and all of them forming a beautiful step like pattern. If we look at the chart exactly at 12.25, as and when it happened the bearishness was wiped out and BN was looking to take out the swing high of the last day. This positivity may have resulted from the moves of RELIANCE (up 3.44%). Anyways from 12.55 to the end of the day BN fell, the final close at 42983 exactly same as the previous day's close. I am more bearish now, the charts showed it on friday - the options volume shows it today. 48000 CE was traded for 52.28 lakhs qty, a strike thats 11.6% away and 3 days to expiry. This shows the intensity of call writing. Similarly 45000 CE for 1.43 crore qty, 44000 CE for 2.58 crore qty, 43000 CE 11.04 crore qty. The option sellers are planning to have an expiry below 43000 this thursday - whether that will hold i do not know. But will tomorrow be bearish - most likely ! --- Of the bank nifty components HDFC bank started gap down and was pretty much in a narrow range ICICI started flat and rallied, a small leg of dip 13.45 to 14.15 but ended strong SBI fell in the early trade, moves from 14.50 to 15.15 unexplainable and that too with good volume AXIS trended positively but the fall from 13.45 almost took it back to where it started, final closing is positive Kotak - started mega gap down and recovered in the first candle, a mega green candle. Swung up and down and finally closed flattish IndusInd was trading softly earlier in the day, but by 11.40 it gained strength went up till 13.05 and then fell quite strongly. Recovered and then ended positively. --- 15mts is not showing bullishness now - its either range trade or an interim top formation which might show further fall. 1hr is still bullish, nearest support is quite deep below - we cannot go short overnight as its still too early.
NSE:BANKNIFTYShort
by viswaram
Banknifty daily analysis for 28/11/22Banknifty on the weekly time frame has given a nice bullish candle but after testing the 43k level couldn't sustain it. On the daily time frame, the market has formed a doji candle on the higher levels. Banknifty on the hourly time frame, has formed a bearish flag pattern. The market remained for selling after a gap up and took support from the 20 ema and closed above the level. On 15 minute time frame, the market has closed below the 20 ema and traded whole day near the level. Support :- 42300, 42880, 42770 Resistance :- 43040, 43220 The market came for selling on the daily time frame and market can test the lower levels before giving another bullish leg. Wait for the price action near the levels before entering the markets.
NSE:BANKNIFTY
by TheMamboMomentum
1
Banknifty daily analysis for 25/11/22Another All Time High for bank nifty and nifty is yet to test its ATH. Banknifty on the daily time frame has given a closing above 43k levels and a bullish candle. Index on the hourly time frame, has formed a nice price action for the up move and given considerable movement in the closing hour of the session. The moment is still lagging on the intraday prospect. But the markets are reaching new high day after day. On 15 minute time frame, banknifty took support from the 20 ema and gave a nice up move of around 200 points. Support :- 43000, 42840,42640 Resistance :- The market is at ATH. Wait for the price action near the levels before entering the markets. Take bullish trades only when day's high is taken out.
NSE:BANKNIFTY
by TheMamboMomentum
PostMortem on BankNifty Today & Analysis of 23 NOV 2022Bank nifty had a good up day today, starting with a good gap up and then rallying from there. Absolutely no stopping the markets now, nifty50 had a flattish day - but bank nifty outperformed. I seriously cant think of anything that will break the bank nifty now - where are the short sellers? FIIs are selling but the index is moving higher - is this a breakout or a pump and dump move?? BN opened at 42668 made a red candle - but the wick showed the strength in buyers. From there it was kind of flattish day till 12.50 when we had the first signs. And then another warning at 13.50 (look at the surge in CE premiums most of them will have a top wick) indicating a short covering move. The rally did not stop until 14.55 after which we had sharp down moves and the final closing near the open. Also the closing minutes did have a surge in options volume on the call side - unable to make out if it was fresh shorts or just unwinding. Since its expiry tomorrow the opening minutes may show the direction of trade. --- Of the major bank nifty components :- HDFC bank spent much of the time in the positive territory although it went underwater for some time. The final closing minutes saw sharp selling ICICI was bullish from the start and went upto 931 and then saw sharp selling. SBI's move was perfectly bullish, the last 30mts did not do that much of a damage AXIS went underwater in the opening 10mts but from there it caught a trend and then saw good bullish pattern Kotak gap'd up and then stuck in that range IndusInd went underwater and then at 13.50 it rallied, the slope of the rally was near 75 to 80 degree. But this was given up in the last 40mts. --- SPX vs Bank nifty the spread staying at +5.24% vs 27.92% SPX has commenced trade on 23rd Nov in positive terittory, above the resistance level of 3991. The next resistance is at 4072 now. --- 15mts vs 1hr - the island day is very visible in the 15mts TF. And today's move is adding bullishness to an already extreme bullish 1hr chart
NSE:BANKNIFTY
by viswaram
Banknifty daily analysis for 24/11/22Finally, banknifty has formed a new ATH but market couldn't sustain the higher levels. The market consolidated whole day, gave a up move in the second half and came for selling in the last hour of the trading session. The market trend is bullish but the movement during the last hour is creating a confusion. Banknifty is stronger than the other index and closed gaining 270 points. On 15 minute time frame, the market has closed between both the moving averages. Support:- 42640, 42600, 42475 Resistance :- 42840 The market have many supports and the resistances are minimum. A trending market can be seen as tomorrow is monthly expiry. Wait for the price action near the levels before entering the markets.
NSE:BANKNIFTY
by TheMamboMomentum