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bankNifty analysis for 18th March 2024bank nifty is travelling inside a channel. 46300 to 46500 is a strong support level as marked on the chart. if this level is broken, bank nifty may go downside to the next support level marked on the chart. or, if it takes support to this level, it may go up to the next upper level marked on the chart Disclaimer: All information provided here is for educational purposes and not a recommendation, advice, research report, or stock tip of any nature. Analysis Posted here is just our view/personal study method on the stocks, commodities or other instruments and assets.
NSE:BANKNIFTY
by sudeeptalayek
BANKNIFTY Prediction for tomorrow 18 Mar 24As we have discussed in our Video, BANKNIFTY was making HNS, whose target was 46470. that has been achieved. If we look at the chart now: The market is trading at the support trendline(1-H TF). Banknifty is also trading at 0.61 fib level, which might be crucial for banknifty to take support. Price is volume balanced, which indicates the market can make a move soon. If we look at the OI data: PCR = 0.72, which indicates a neutral behavior for the market. Bulls have written 46500 and bear heavily, which will be acting as max pain for now. On the upper side, 47000 is a good resistance that also coincides with 200 EMA. Looking at the FII Data, we can say the market might open a gap-down. I am expecting the market to be sideways for one day at least. After that, once it moves to the Green zone, it will turn bullish. unless it breaks to Bearish zone(RED ZONE) Reasons: The market is trading at the strong support trendline. 46350 - 46680 is a sideways range. If it breaks into the RED ZONE market, it might fall heavily, but the possibility of breaking down is less right now. PCR = 0.72 is neutral. 46500 is acting as MaxPain. 46500 is also working as good support. Whereas 47000 is working as good resistance. RSI ~ 50 shows the market is going to be sideways for the next trading day. VWAP ~ price shows that the price is volume balanced, which means the market will soon be ready to make a move in either direction. Verdict: Sideways Plan of Action: Sell 46500 PE and 46650 CE (hedge with 20/- option). Exit the leg once it breaks to either side.
NSE:BANKNIFTY
by finnova_
2
15 Mar ’24 — BankNifty might have to fall 400+ pts to go bearishBankNifty Analysis - Stance Neutral ➡️ BankNifty fell 195 points today ~ -0.42%, but that would end up not being sufficient to push it into Bear territory. We might need roughly 400+ points fall to slip into the bearish channel following which both N50 and BN will have the same direction. Over the last 2.5 months rarely did both the indices align in the same direction for at least 3 to 4 days consecutively. NiftyIT always interrupted a smooth directional buildup happening between these two indices and often confused N50 with false triggers. 4mts chart The lower high formation and the start of the 2nd leg are more beautiful on BN rather than N50. We expect the IV to go up once BN enters the bearish channel.45788 was the approximate level from which BN had 11 consecutive 63mts GREEN candles. A similar feat with the RED candles would be equally exciting to watch. Somehow the news about the stress tests, redemption pressure, and freeze of new lumpsum investments into small-cap funds, etc may have a spill over effect on the large caps as well. I am still not sure if the markets have priced in the “panic” factor. 63mts chart – Algo Trading Our algo trades ended today with a gain of Rs6927. The recovery from minus 25116 was indeed good to watch.
NSE:BANKNIFTY
by viswaram
Bank Nifty analysis for 15th march 2024The banknifty is travelling in a downward channel. also the possible support and resistances are marked in the chart. if it breaks the channel in upside direction, may be a bullish movement is possible. if it breaks the support of 46500 level, a bearish movement may happen. Disclaimer: All information provided here is for educational purposes and not a recommendation, advice, research report, or stock tip of any nature. Analysis Posted here is just our view/personal study method on the stocks, commodities or other instruments and assets.
NSE:BANKNIFTY
by sudeeptalayek
Bank Nifty 15-03-2024 Analysis Hello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - with support of Important / Support Sell - with rejection of Important / Side-ways-zone See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – SriTrader5121 _______________________________________ Rules to fallow... 1) Wait for conformation. 2) See the price action at our zones. 3) Trade with Strict Stop Loss. 4) Trade with Small Quantity. 5) Take entries based on Support & Resistance Zones. _____________________________________________________ Please take the trade according to the zones marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries based on your own analysis and risk. This is for education purpose and a helping hand to learn trading in live market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels / Zones. So one can book profit / loss based on your risk-reward or considering price action at respective zone how it works near that zone. 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.
NSE:BANKNIFTY
by SriTrader5121
Banknifty weekly analysis for 11/03/24.After 3 days holiday markets will open tomorrow. Banknifty has been halting around the higher levels and constantly facing rejection around 48k levels. On the weekly charts, there is a bullish move in the market and seems to continue as nifty is around the highs but banknifty is still lagging behind it. An inside candle has been formed on the daily charts and near the high. If there is a break out new highs can be tested this week for banknifty. Else it may come to test the lower levels. Major support levels :- 47520, 47260 Resistance :- 48150, 48260, 48400 Buying there on every dip and resistances above are weak. Bullish move is expected as the charts indicate. If there is a gap down opening, it would be wise to avoid trading for intraday as there will confusion in the markets. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Bank Nifty 13-03-2024 AnalysisHello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - with support of PDL / Support Sell - with rejection of PDL / Resistance See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – SriTrader5121 _______________________________________ Rules to fallow... 1) Wait for conformation. 2) See the price action at our zones. 3) Trade with Strict Stop Loss. 4) Trade with Small Quantity. 5) Take entries based on Support & Resistance Zones. _____________________________________________________ Please take the trade according to the zones marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries based on your own analysis and risk. This is for education purpose and a helping hand to learn trading in live market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels / Zones. So one can book profit / loss based on your risk-reward or considering price action at respective zone how it works near that zone. 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.
NSE:BANKNIFTY
by SriTrader5121
Bank Nifty Analysis for tomorrow Thrusday | 14 March 24 As we discussed in our video analysis, the bank's nifty bearish nature broke to the downside and gave a nice bearish target today. If we look at the chart now: The price has broken 200 EMA, HNS Neckline support zone to the downside. The market is quite bearish. RSI is also showing weakness in bulls. If we look at the OI data: PCR = 0.67 shows a bearish market structure. Also, there is a huge CE and PE writing at 47000, which will work as maxPain. There is not much of support levels except 46500 which is also confirmed by Price Action levels. I am expecting the market to fall till 46500. Reasons: RSI < 40 shows weakness in bulls. price < EMAs shows bearish strengthen market. PCR = 0.67 shows a bearish market. price < VWAP indicates bearish sentiment in the market. Verdict: Bearish Plan of Action : Sell 46900 CE (Hedge it with 20 rs CE).
NSE:BANKNIFTYShort
by finnova_
2
Bank Nifty 13-03-2024 AnalysisHello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - Above Side-ways-zone / with support of PDL / with support of Strong-resistance Sell - Below Side-ways-zone / with rejection of PDH / with rejection of Strong - resistance See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – SriTrader5121 _______________________________________ Rules to fallow... 1) Wait for conformation. 2) See the price action at our zones. 3) Trade with Strict Stop Loss. 4) Trade with Small Quantity. 5) Take entries based on Support & Resistance Zones. _____________________________________________________ Please take the trade according to the zones marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries based on your own analysis and risk. This is for education purpose and a helping hand to learn trading in live market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels / Zones. So one can book profit / loss based on your risk-reward or considering price action at respective zone how it works near that zone. 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.
NSE:BANKNIFTY
by SriTrader5121
Bank Nifty analysis for 12th march 2024It looks like the bank nifty is forming a head and shoulders patern. if it breaks the support level (47200 to 47300 range) downside, it may go to the next possible support (46300 to 46500 range) marked in the chart. if it crosses the level 48200 upside, we may go for a bullish trade after forming a price action. Disclaimer: All information provided here is for educational purposes and not a recommendation, advice, research report, or stock tip of any nature. Analysis Posted here is just our view/personal study method on the stocks, commodities or other instruments and assets.
NSE:BANKNIFTYShort
by sudeeptalayek
11 Mar ’24 — BankNifty breaks 47465, next SR 1000 points lowerBankNifty Analysis - Stance Neutral ➡️ We have a change in stance on BN today, As soon we had a closing below 47465 we changed the stance from bullish to neutral. We fell 693pts ~ 1.45% today and the structure was pretty negative. BN never really tried to retrace the fall today, just had 1 minor rejection at the support at 11.23, but yielded by 11.55. The ease with which the support got broken got me thinking, what was the real bad news today? I remember seeing the Japan Nikkei trading with cuts of -2.3%. But other than that, I really dont remember reading any other bad news. 4mts chart On the higher time frame, notice the depth of the RED candles till the support was broken. The single GREEN candle of 6th Mar 09.15 has been negated. Since we broke the support of 47465, the stance is now neutral. For tomorrow we wish to start with non-directional trades on BankNifty and go long if the 47465 resistance gets broken. To go short, BN will have to re-enter the bearish channel and that is like 1000pts away. If we were to fall that many points in a day, we are quite sure Nifty50 will also fall equivalently and most likely go bearish as well. Honestly, why would markets fall that much, what is the reason? 63mts chart — Algo Trading Our algo trades ended today with a gain of 20165. Manually squared off the trades at 14.21 just when the markets started to get volatile.
NSE:BANKNIFTY
by viswaram
Bank Nifty 12-03-2024 Analysis Hello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - with support of PDL / Strong- Resistance Sell - with rejection of PDL / support See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – SriTrader5121 _______________________________________ Rules to fallow... 1) Wait for conformation. 2) See the price action at our zones. 3) Trade with Strict Stop Loss. 4) Trade with Small Quantity. 5) Take entries based on Support & Resistance Zones. _____________________________________________________ Please take the trade according to the zones marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries based on your own analysis and risk. This is for education purpose and a helping hand to learn trading in live market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels / Zones. So one can book profit / loss based on your risk-reward or considering price action at respective zone how it works near that zone. 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.
NSE:BANKNIFTY
by SriTrader5121
Bank Nifty 11-03-2024 Analysis Hello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - with support of PDL / Strong-support Sell - with rejection of PDL / Resistance See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – SriTrader5121 _______________________________________ Rules to fallow... 1) Wait for conformation. 2) See the price action at our zones. 3) Trade with Strict Stop Loss. 4) Trade with Small Quantity. 5) Take entries based on Support & Resistance Zones. _____________________________________________________ Please take the trade according to the zones marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries based on your own analysis and risk. This is for education purpose and a helping hand to learn trading in live market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels / Zones. So one can book profit / loss based on your risk-reward or considering price action at respective zone how it works near that zone. 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.
NSE:BANKNIFTY
by SriTrader5121
Banknifty prediction for tomorrow 07 Mar 24As 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 RSI trendline has also broken down to the downside. If we look at the OI data: PCR = 0.9 shows bullish market sentiments. But as it is just the start of the week, this does not contribute much for now. There can be 2 cases, as marked on the chart. Case 1: if it takes support at 47850, then it can move till 48600(ATH). Case 2: Might consolidate in the range 47500-48000. Reasons: BN is trading at the resistance Zone. 4H-TF resistance trendline. All-time high resistance Zone The RSI trendline has broken down to the downside. There might be some correction or consolidation. PCR = 0.9 shows bullish sentiments. 48000 is maxPain while 47500 is a good resistance according to the OI data. The above side is not much CE writing that shows the market is going to be HIGHER HIGH in upcoming sessions. VWAP = Price shows price is balanced. Verdict: Sideways or Bullish Plan of action: Case1: Sell 47800 PE (Hedge it with 20 rs PE) Case 2: Iron condor in range 47500-48000.
NSE:BANKNIFTY
by finnova_
Banknifty intraday levels for weekly expiry (06/03/24).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 closing above 48k levels. In case of a flat to slight gap down opening, a bullish move can be captured as per the price action. Support levels :- 47500, 47280 Wait for the price action near the levels before entering the markets.
NSE:BANKNIFTY
by Mambotrade
Banknifty weekly analysis for 04/03/24.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 test 46500-700 zone. Now the resistances on the upper side seems to be somewhat weak. Major bullish target :- 47600, 47840 Supports are far and there should be a retest. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
BANKNIFTY prediction for tomorrow 5th MAR 24As 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 at the OI data: Pcr = 1.22 (Bullish), which has fallen from 1.44 because of the market's sideways momentum. 47500 is MAXPAIN. Once it's broken to the upside, we can say the market is good to go till 48000. there is not much CE writing on higher levels. I am expecting the market to consolidate for 1 or 2 days and then a good bullish move till the 48600 levels ass target. Reasons: Price > EMAs(13,50,200) shows markets is having bullish sentiment. (Bullish) RSI > 60 having bearish divergence. The market needs some more consolidation to correct the value of RSI. PCR = 1.22 shows good strength of bulls; there is not much CE writing at higher levels. RSI is reaching 77, which was working as resistance previously. (sideways) Verdict: Bullish Plan of action: Case 1: Sell 47500 PE (Hedge it with 20 rs PE) Case 2: wait for the market to take support to get bullish.
NSE:BANKNIFTYLong
by finnova_
1
BANKNIFTY prediction for tomorrow 4th Mar 24As 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 in the consolidation phase for the past 3 months. As it has given a breakout now, I am expecting at least of48600(ATH) to touch again. If we look at the OI data: PCR = 1.44 shows huge bullishness in the market. 47000 & 46500 is having huge PE writing at lower levels. Higher levels have CE writing at 47500 & 48000, which is significantly less compared to bulls. If we look at the FII & DII data, FII is medium bearish because of the resistance zone at 47250, whereas clients are Strongly bullish because of the breakout. I am expecting the market to go Higher High(HH) till the level of 48500. Reasons: Price > EMAs(13,50,200) shows markets is having bullish sentiment. (Bullish) RSI > 60 shows the market is in control of bulls right now. (Bullish) PCR = 1.44 shows good strength of bulls at lower levels. Price > VWAP indicates the market has a bullish nature and tends to move higher in the upcoming session. 47500 seems to be maxPain. If it breaks to the upside, it would be easier for bulls to drag the market to 48500 easily. RSI is reaching 77 which is working as resistance previously. (sideways) Verdict: Bullish Plan of action: Case 1: Sell 47500 PE (Hedge it with 20 rs PE) Case 2: wait for the market to take support to get bullish.
NSE:BANKNIFTYLong
by finnova_
6
Banknifty prediction for tomorrow 1 March 24As 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 momentum. If we look at the OI data: PCR = 0.82, which shows the market's bullish sentiments. 46000 is going to be MAXPAIN. There is good resistance to CE shorting at each upper level. However, there is not much OI build-up on the lower side. I am expecting the market to take a bearish momentum till 45700, and then it will take support and pull back stronger. Reasons: 200 EMA > Price > EMA(13), which shows the market has bullish sentiment but not enough strength to make a good bullish move. (sideways) 200 EMA is going to provide good resistance at this level for now. (sideways) RSI is in the range of 40-60, which is mostly sideways. (sideways) The last two candles show a heavy fight between bulls and bearish. (sideways) Price >= VWAP, which shows that price is balanced with volume. (Bullish) PCR = 0.82, which shows the market's bullish sentiments Verdict: Sideways Plan of action: Make a bull position once the market takes support at 45700.
NSE:BANKNIFTY
by finnova_
Banknifty prediction for tomorrow 29 Feb 24Let'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 bearish market structure. Where 46000 is MAXPAIN. There are multiple resistances to the upside. But there is very little support on the lower side except 45500. All important levels have been marked at chart. If we look at the FII & DII data, it directly indicates a bearish market structure where pros have heavily shorted options. Now, there are two cases at this point. Case 1: The market can take support at this support line. And move to the bull side. Case 2: If the market is broken to the downside, the next support point is at 45573. Reasons: Price < EMAs, which shows bearish market structure. RSI < 40 shows weak bulls strength. OI data PCR = 0.60 shows heavy bearish. Making flag and pole pattern, which might lead to bullish momentum from the point at the trendline. Verdict: Bearish Plan of Action: Case 1: If the market takes support at the trendline. --> SELL 46000 PE (Hedge it with 20 rs PE) Case 2: If the market breaks the downside --> Wait for it to make price action at 45573. If there is any doubt pls comment I will be happy to clearify.
NSE:BANKNIFTYShort
by finnova_
Banknifty intraday levels for monthly expiry 29/02/24.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 bearish move tomorrow, a nice trending move can be seen. Major resistance levels :- 46270, 46730 A volatile market was there in the second half of the trading session. If there is a gap up or flat opening, wait for the break down and enter the bearish move only after the support zone is breached. Major support levels :- 45910, 45700 Reversal can be seen near 45700 level as there is a golden fibonacci levels. Banknifty has closed below the 20 ema on the daily charts. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade