Get started

Bankniftyoptions

Banknifty prediction for Today 24 MayAs we discussed, Banknifty gave a very nice momentum with huge bullishness. If we look at the chart now: The market has broken the wedge pattern to the upside, and it is also continuously making HH and HL. The price is trading above EMAs, which shows strength in the price. Also, RSI > 60 shows huge bullishness in the market. If we look at the OI data: PCR = 1.20, which has risen from 0.73, shows huge PE writing on the Lower side, indicating a bullish structure in the market. The market does not have much CE writing on the higher side. That makes bulls more powerful. Lower levels have good support levels, as shown in the OI chart. I am expecting a sideways market to go bullish. It might take some sideways consolidation, but I am overall bullish on the market. Reason: RSI > 60 shows the market is having very good strength. Price > EMA(13,200), which indicates powerful bull market. The market has broken the pattern to the upside while making HH and HL. PCR = 1.20 shows a heavily bullish nature in the market. price > VWAP shows weak market structure. Verdict: Sideways or Bullish Plan of action: Sell 48600 PE and 49100 CE (Hedge it with 15/- premium) Note: Exit the opposite either side it breaks
NSE:BANKNIFTYLong
by finnova_
23 May 2024 - BankNifty stance is bullish now, but 48947 crucialBankNifty Analysis - Stance Bullish ⬆️ Yesterday we changed the stance from bullish to neutral as 48115 resistance was not breached, but that break came by 09.51 today. Hope you got my email when we revised the stance back to bullish via trading view. The intraday rally was a whopping 957pts ~ 2.00% and we took out 2 resistances today viz - 48115 and 48661. The next one is at 48947. On a higher time frame, BN will receive more momentum once this resistance is taken out. The reason was the rejection of this level on 10th April and that may have a bearing.
NSE:BANKNIFTYLong
by viswaram
22 May 2024 - BankNifty stance revised to neutral, not bullishThe trades on banknifty were going on perfectly till 14.30. The final hour took out all the profits from the intraday straddles, not just that the algos ended the day in RED. The moves that came in the 2 16mts candles 14.51 and 15.07 were not normal. Yes, we have seen even wilder moves from BN earlier, but today was just stop loss hunting by the HFTs - how else would you explain a 500pts swing in 32mts?? We are not bearish as 47465 support was held, and the reason we are not bullish is that 48115 resistance was not taken out. Between these 2 levels, we would like to maintain a neutral stance. Also decided against running nifty50 algos on Thursdays as the stakes are too high. It is better to sit the day out than risk my capital, effort, and time for the manipulative games by the HFTs.
NSE:BANKNIFTY
by viswaram
21 May 2024 - BankNifty has a candle below Banknifty had a more flattish tone today compared to Nifty. The hesitance to get past the 48115 resistance was clearly visible. Even though Nifty closed the day flat, BN gave up some points ~ 151, -0.31%. We wish to start the 22nd with a bullish view but switch back to neutral if the 48115 resistance is not getting taken out. Since 22nd is the expiry day, the actual moves may not be conclusive. Will wait for the 3pm move to guess the direction with a higher confidence level
NSE:BANKNIFTYLong
by viswaram
Banknifty prediction for tomorrow Expiry 22 MayAs we discussed, Banknifty was sideways today. If we look at the chart now: The market is trading at 200 EMA, breaking off, which might lead to a double top neck break to the downside. The market is making a rising wedge pattern after a huge fall, which might be a preparation for next fall to the downside if it beaks to the downside. Important support levels will be 47800, 47387, and 47000. on the other hand, 48231, 48445, and 48587 are going to provide a good price action resistance. If we look at the OI data: PCR = 0.73, which has fallen from 0.98, which shows huge CE writing on the upper side, indicating a bearish structure in the market. 48000 is maxPain. On the higher side, there is a huge amount of resistance at each level. However, on the lower side, PE writing is less effective, which indicates that the market might fall in the upcoming session. I am expecting a sideways market inside a rising wedge pattern. If it breaks down, I expect a good bearish move to the 47387 level. Reason: RSI is 40-60 shows the market is going to be sideways. Price < EMA(13,200), which indicates weak bulls. The market is making a rising wedge pattern. If it breaks to the downside, it's going to give a nice fall. The market is making double the top if the price breaks the downside of 200 EMA. There is a high probability of market bearishness. price < VWAP shows weak market structure. Verdict: Sideways inside rising wedge. if breaks to downside Bearish. Plan of action: Sell 48200 CE and 48800 PE (Hedge it with 15/- premium)
NSE:BANKNIFTY
by finnova_
Banknifty Prediction for tomorrow 20 May 24As we discussed Banknifty sideways or Bullish; it ended-up sideways with high volatility on upper side. If we look at the chart: The market is trading at support (Price action + 200 EMA support) right now. the important levels for tomorrow are 200 EMA, 48000, 47400 will be working as very good support. while 48445, and 49125 will be working as nice resistance. If we look at OI data: PCR = 0.98 shows bullish structure. if we notice most of the time today there was only position wind off. 48200 seems to be working as max-pain. while major shpport zone is 48000. on the higher side 48500 is going to provide a heavy resistance. As market is in breakout phase I am expecting market yet to go higher. Reasons: RSI crossing 60 to upside that might be a starting of new bullish trend. Price > EMA (13, 200), which shows the market can take support at 200 EMA and go bullish. PCR = 0.98 shows a bullish sign. Price > VWAP means bulls are getting strength. The market has already given a breakout it was a good accumulation today; soon, it will shoot to the upside soon. unless there is some political news effect. Verdict: Sideways or Bullish Plan of action: Sell 48000 PE and 48400CE (Hedge with 20/- Premium)
NSE:BANKNIFTYLong
by finnova_
16 May 2024 - BankNifty goes bullish, strong intraday rallyBankNifty Analysis — Stance Bullish ⬆️ The stance on BN also revised to bullish not because we took out the resistance, but due to the 707pts ~ 1.5% intraday rally that came right from the support level. Usually, powerful moves like this will have extended legs that could start appearing in days to follow. We only need to know whether the move came out from a news event or not because if it did, then no amount of technical analysis can codify it. BN has also formed a W pattern showing bullishness. On the 63mts TF, the final candle of the day almost fills the gap between the support and resistance. Hoping to see follow through tomorrow. The algos were at a loss today, understandably so because of the wild swings we got today.
NSE:BANKNIFTYLong
by viswaram
Banknifty Prediction for tomorrow 17 May 24As we discussed Banknifty sideways or Bullish; it ended-up sideways with high volatility. If we look at the chart: The market is trading at resistance (Price action + 200 EMA resistance) right now. the important levels for tomorrow are 47401, 47000 will be working as very good support. while 200 EMA, 47970, and 48332 will be working as nice resistance. If we look at OI data: PCR = 0.88 shows bullish structure. if we notice today after 11 AM they is a very heavy CE winding up in the market. 48000 CE was removed approx 33% that shows big players are winding up CE positions in heavy quantity. which might push the market to upside. FII and DII not yet available. I nam expecting market to go Higher in uppcoming sessions. Reasons: RSI crossing 60 to upside that might be a starting of new bullish trend. Price > EMA (13) but less than 200 EMA(resistance), which shows the market still has to break 200 EMA to go bullish. PCR = 0.88 shows a bullish sign. Price > VWAP means bulls are getting strength. The market has already given a breakout it was a good accumulation today; soon, it will shoot to the upside. Verdict: Sideways or Bullish Plan of action: Sell 48000 CE and 47600 PE (Hedge with 20/- Premium)
NSE:BANKNIFTYLong
by finnova_
15 May 2024 - Banknifty in neutral territory, break 47465 for 🐻BankNifty Analysis — Stance Neutral ➡️ BN ended the day with cuts of -172pts ~ -0.36%. We went neutral after the price action on 13th May. After that, we had one up day (14th) and a down day (15th) — the result, we are back in the neutral territory. BN did not even go to the 48115 levels which came as a surprise. Ideally, on 16th there may be an attempt to take out 48115 resistance, only then the Bulls can exert their dominance. If it stays like this, we get another lower low formation and it would mean the Bears will come back much stronger. Only if 47465 is broken, we will change our stance from neutral to bearish. The algos made a super profit of 45596 INR today.
NSE:BANKNIFTY
by viswaram
14 May 2024 - BN needs a bit more thrust to go BullishBankNifty Analysis - Stance Neutral ➡️ The definition of a neutral stance was much more suited for BN rather than N50 today. See the short-range in which BN operated today and notice the slow grind. Even then the volatility was very high, take a look at the HDFC Bank price moves today. How does the elephant move like that? BankNifty may not go bullish even if 48115 resistance level is taken out, it may need a bit more thrust for a change in stance. The reason is because the downfall was quite sharp and before changing the stance, we need to make sure that a higher low is not getting formed. Algos ended the day with gains of 8064 INR. Ideally, it should have made more as the chart was stable - but the volatility ensured the premiums were skewed causing unplanned losses earlier in the day.
NSE:BANKNIFTY
by viswaram
13 May 2024– BankNifty rallies 858pts ~ 1.83% intraday - NEUTRALBankNifty Analysis - Stance Neutral ➡️ Just when we thought the 47465 was getting broken for good, we got a pullback. We fell 527pts ~ 1.11% by 10.39 and then the pull back was a whopping 858pts ~ 1.83%. The final close was almost the midpoint of 48115 and 47465 which prompted me to change the stance to neutral for tomorrow. The bulk of the heavy lifting came from HDFC Bank in this dramatic reversal by BN. Just when I thought HDFC may break 1425 for another round of collapse - we get a sharp reversal. It rallied an amazing 29pts ~ 2% to change the entire narrative. On the 63mts TF, BN might try to take out the 48115 resistance tomorrow itself. In case the markets figure out that the reversal was not technical but due to front running, news, or event related - we could see repeat buyers (if news was true) and a sharp fall (if the news was planted and false). Algos forward test is shown as generating 5764 INR, but the day was in loss today - this must be again due to slippage.
NSE:BANKNIFTY
by viswaram
Banknifty weekly analysis for 13/05/2024.Banknifty has been trading in a rising parallel channel which is a bearish pattern. The support trend line has been tested 4 times and it is testing it again, closing around it. Even the weekly 20 Ema is around the closing of the candle. If there is a break down on the weekly candle after 2-3 days of consolidation or halt, there is a high chances of bearish momentum is the markets. Major support/target levels:-46600, 45800 Let the market decide the trend and trade accordingly. For last 8 trading session, there is a red candle on the daily charts. A retracement or consolidation is required before any further fall in the market. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
10 May 2024 — BankNifty has to take out 47465 for super Bearish'BankNifty had a better kind of retracement than Nifty, but it was not able to break away from the 47465 today. More importantly, it was not even able to break down either. That signifies the importance of 47465 as a critical SR level. The behavior from open to 10.07 was quite exactly as we wrote about yesterday. This market is held by weak Bears and they run for cover very fast, unable to persist with their short position. When we connect the last 2 days of price action, the visual impression shows the continuation of bearishness. On Monday we hope the 47465 level gets broken down for the good. The next major support comes only at 46284 and if we get there — it would have to come from ICICI, AXIS & SBI as these remain the only 3 major banks that have not mean reverted. The #Banknifty algos made Rs17120 today. The high implied volatility is helping the option sellers.
NSE:BANKNIFTYShort
by viswaram
09 May 2024 - 47465 is the real laxman rekha, break 2 go full 🐻BankNifty Analysis - Stance Bearish⬇️ The bearish call on the BN was spot on, but we ended the day less bearish than N50, for me that is not good enough. Most importantly, BN did not breach the support of 47465, this was very crucial for the momentum to build. I am not exactly sure if we will start negatively tomorrow or not, a huge gapup or gapdown may work in our favor, but if BN is opening flat at the SR level - it may even move up a bit. 47465 for me was the critical support that we failed to break. The price action on a few of the bank stocks looked pretty scary. HDFC Bank -2.37%, IndusInd -2.85%, RBL Bank -3.07%. The only reason we did not fall that much was because ICICI Bank, Kotak, and SBI were holding good at the other end. The biggest doubt I have these days is Kotak is at multi-year lows, HDFC Bank is almost at the 2020 levels but BankNifty is simply near the ATHs - is ICICI, SBI, and Axis Bank responsible for the stark outperformance??? The stance is still bearish, but the first thing we need to do in the morning session is to take out the 47465 levels failing which we could get a minor pullback or short covering. Algos ended up generating 8253 INR, not bad despite a trending day.
NSE:BANKNIFTYShort
by viswaram
Banknifty Intraday Prediction Levels for 7 May 2024The chart indicates 15 min time frame. These Levels act as Support and Resistance according to position of price. These are strictly for Intraday Trading only. Execution only after break out and close above the Resistance zone or break down and close below the Support zone. These levels act as support and resistance. You have to trade according to level breakout or breakdown. To buy or sell you can follow Buy/Sell Indication given by indicator or you can follow cloud also. If you are a new trader then just watch (No Trade) these levels for some days. Happy trading. Disclaimer: I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult with your Financial Advisor before taking any decision or trade.
NSE:BANKNIFTY
by suraranjanganguli
03 May 2024 - BankNifty stance also changed to neutral, weaknessBankNifty Analysis — Stance Neutral ➡️ BankNifty had an intraday swing of 952pts ~ 1.92% at par with what Nifty had today. There was a brief period of recovery 11.39 to 12.43, but this did not sustain and we hit an intraday low of 48659 by 13.39. BankNifty is actually weaker than Nifty, because we did not pull back even a bit yesterday and then you combine today’s price action. But if you look at the charts side by side — Nifty shows a higher bearishness than BN — but it is not. For Monday, we wish to start with a neutral stance and then go short if 48350 is getting taken out. I might wait out for the ATH to be taken out to go long. The algo made 3901 INR.
NSE:BANKNIFTY
by viswaram
02 May 2024 - BankNifty is not bearish yet, still holding gainsBankNifty Analysis - Stance Bullish⬆️ BankNifty's pattern is quite interesting, unlike N50, it did not even attempt to recoup the losses in the last hour of the previous session. It is too early to comment if it is bearishness as the charts do not say so. But the way a few banks dropped today was quite worrying. Despite that, BN did not cede ground - quite surprising on how the other banks came to stabilize the index after Kotak took the beating. On the 63mts TF, BN looks bullish still - but the obvious thing it had to do was to retrace at least 50% of the RED candle @ 14.30 yesterday. The run up so far has been more than expected, so taking a pause or even giving up some gains is not bad at all. We wish to start the day with a bullish tone and then go neutral if 48934 is getting breached. Algos made only 859 INR today.
NSE:BANKNIFTYLong
by viswaram
Banknifty analysis for tomorrow 30 Apr 24As we discussed, Banknifty, if it takes support at 200 EMA, will make a higher high, but we didn't expect that heavy bullishness. If we look at the chart: The market is trading in the 4H-TF resistance zone; it has also broken an all-time high. That indicates bulls are very powerful, and today's moment reflects that. The price is very far from the EMAs(50, 200). there is a chance the market might consolidate here for 1 or 2 days. All important levels have been marked at the chart. If we look at the OI data: PCR = 1.65, which has risen from 0.76. it's a very strong change in OI that shows there is something very big event coming up. 49500 and 50000 are showing significant resistance levels. Other than that, not much of the CE is written on higher levels. On lower levels, there is heavy PE writing that shows that the Bulls are in full control of the market. FII and DII data do not give much information today. I expect the market to consolidate here for 1 or 2 days. After that, we will plan our trade according to the price action. Verdict: Sideways at Resistance Plan of action : Wait for the market to make some price action here.
NSE:BANKNIFTY
by finnova_
1
Banknifty Analysis for tomorrow 29 Apr 24As we discussed the live market Banknifty analysis, after that, it showed a huge fall. If we look at the chart now: The market is trading at the 200 EMA, which is likely a very good support point. Also, it gave a nice pullback with good volume in the last 15 min. Also, the market is trading at the 0.23 fib level, which is not likely to provide support after such a sharp fall. I expect the market to give the 0.38 fib retracement. ALL IMPORTANT LEVELS HAVE BEEN MARKED ON THE CHART. If we look at the OI data: PCR = 0.82, which has fallen from 0.98, which shows bears are increasing their positions in the market continuously. On the last trading day, there was a huge call writing on upper levels at 48300, 48400, and 48500. on the lower side, 48200 and 48000 are the only PE writing left. If 48000 breaks to the downside, there is not much PE writing on the lower side. If we look at the FII & DII data, FII and Pro are strong, bearish clients while clients are bullish, which shows that the market is going to open a gap-down. The market is at a crucial level right now. There are two cases: Case 1 : If it takes support at 200 EMA, it might come back strong and touch 48600 again. Case 2: If it breaks to the downside, it's going to test the 0.5 fib level at 47800. Reasons: price < EMA(13) shows the market is in a bearish phase. And bears are strong. While the price is taking support at 200, EMA might force the market to take support at this point. RSI < 50 shows strong bears' power. Bulls are weak at this point. (Bearish) PCR = 0.82, which has been falling rapidly from 0.98. shows bears are actively increasing their position size. (Bearish) price < VWAP shows a bearish market structure. (Bearish) Verdict: Mild Bearish Plan of action: Case 1: Sell 48000 PE (Hedge with 15/- PE premium) Case 2: Sell 48100 CE (Hedge with 15/- CE premium)
NSE:BANKNIFTYShort
by finnova_
26 Apr 2024– BankNifty has to take out 48119 to go neutralBankNifty Analysis - Stance Bullish ⬆️ Banknifty falls 293pts ~ 0.61% today, but I have not changed the stance to neutral yet. The charts are not as weak as Nifty50 and there was some restraint on how BN hit the lows today. After opening gap up, BN took a dip and then got its head back by 13.11. HDFC Bank's price action was extremely unusual, making an unusual spike till 09.43 and then falling back to where it all started. In a perfect inverted V shape, how does the highest weighted stock of Nifty50, NiftyBank, and FinNifty move like a meme stock? For Monday, we wish to start with a bullish view but switch to neutral if 48119 levels are getting taken out. Even though we hit that level intraday, the closing was much above that it did not result in a stance change. The BN algos ended the day with a modest gain of Rs570.
NSE:BANKNIFTYLong
by viswaram