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Bankniftyprediction

Bank Nifty Analysis for 19-04-2024BNF is trading near the 1hour timeframe support of 47000. As mentioned in my previous analysis, once the ascending channel pattern was broken in 1 day time frame BNF took the support of 47000 zone and reversed. Still BNF is trading between zones of 47000 & 47400. It is to be noted that BNF has fall 2000 points from its ATH in this week. If BNF moves upward we will have a immediate resistance of 47750. Below are the resistance levels to watch Resistance 1 47750 Resistance 2 48250 If BNF moves downward and breaks the major support at 47000. We can expect a fall till 46600. Below are the support levels to watch Support 1 46600 Support 2 46000
NSE:BANKNIFTY
by Shree_Traders
Bank Nifty Analysis for 18-04-2024BNF is trading near the 1hr TF support of 474000. Also it to be noted that BNF has fall 1400 points from its ATH. Still BNF is trading near the support zone of 47400 & 47600. If BNF moves upward we will have a immediate resistance of 47800. Below are the resistance level to watch Resistance 1 48100 Resistance 2 48250 If BNF moves downward we can expect a major support at 47000. There is no major support level but if breaks 47000 zone we can expect a fall till next support of 46600 While checking the chart in 1D TF we could see that its in ascending channel pattern. Probably there shouldn't be much fall but it falls breaking the pattern we can expect the fall till 46600 zone.
NSE:BANKNIFTY
by Shree_Traders
Banknifty - Intraday levels & Prediction for - 18 Apr 2024Bank nifty Prediction for Thursday: Trend : BULLISH Sentiment : Positive Expectation : Strong BULLISH Banknifty is at Fibonacci 50% retracement on the higher timeframe, and it currently sustaining for BULLISH move. If this level holds good we can expect good move on the higher side. Look for Buy/Sell at Demand and Supply zone for profitable trades. Demand and Supply Zones - When price breaks the zone, Demand zone will become Resistance and Supply zone will become Support. Refer the chart for detailed Intraday Support and Resistance levels. Happy Trading!!
NSE:BANKNIFTYLong
by ViVenTraders
#banknifty Directions and levels for April 16th."Good morning, friends! Here are the directions for April 16th: The global market trend is bearish, supported by the Dow Jones, while our local market sentiment also indicates a bearish trend. It might open with a gap-down start, as suggested by GiftNifty, showing a -220 point decrease. GiftNifty indicates a long gap-down, so I don't know where it will be opening. I'm just sharing Fibonacci levels. After the gap-down, if the market consolidates around any one of those levels, then we can expect further correction. On the other hand, if it rejects sharply, then we should seek additional confirmation for a reversal. If the pullback breaks the Fibonacci level of 38% in the minor swing, then we can consider it a reversal and set our targets at 61 and 78%. However, if it doesn't break the Fibonacci level of 38%, the correction may continue as usual."
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY Intraday Trade Setup For 16 Apr 2024BANKNIFTY Intraday Trade Setup For 16 Apr 2024 Sell_1- From 48260 Invalid-Above 48370 T- 48000 47750 Sell_2- Below 47700 Invalid-Above 47810 T- 47095 BANKNIFTY has closed on a complete bearish note with 1.63% cut today. We discussed in the weekend that index will be under bear's grip below 48400 (last week candle's low) as it was 2nd leg shooting star which I personally trade. But the funny thing is that it triggered with a big gap down. So one should wait for 48600 zone for taking the same into consideration. Tomorrow there is a possibility of a pullback of the down impulse. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes below 47700 then we will short for the target of 47095. In case 48260 is tested via gap up move then we will short from there. T- 48000 and 47750. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
Banknifty - Intraday levels & Prediction for - 16 Apr 2024Banknifty Prediction for Tomorrow : Trend : BULLISH Sentiment : Positive Expectation : Strong BEARISH Nifty and Banknifty both at strong Support level for BULLISH rally for new High in the upcoming days.. Sharp selling today is a correction, Expecting uptrend from tomorrow. Look for Buy/Sell at Demand and Supply zone for profitable trades. Demand and Supply Zones - When price breaks the zone, Demand zone will become Resistance and Supply zone will become Support. Refer the chart for detailed Intraday Support and Resistance levels. Happy Trading!!
NSE:BANKNIFTYLong
by ViVenTraders
2
Banknifty weekly expiry analysis for 16/04/24.The market has reacted to the war situation and has given a fall of around 800 points. Banknifty has taken support from the 20 ema on the daily charts and the support zone around 47740 level. Even on the hourly charts, the market is trading between both the moving averages and chances of taking support around 200 ema is there. Tomorrow is weekly expiry and there is chance of a trending expiry move in the market as last few expiry were side ways. Major support level :- 47750, 47400. The market is looking bearish and the closing is below 38.2% fib levels. 50% fib level can be tested and a support around the level can be seen. If there is a gap down opening, a recovery can be seen as many will be booking profits. Flat opening and a break down in the second half can keep the market trending. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
Banknifty ananlysis for tomorrow 15 Apr 24As we discussed, Banknifty's structure opened a gap down and fell. If we look at the chart now: The market is making Hammers at the top. Now, the market is in a very crucial position. It is trading at the support trendline and support zone. The market is making a rising wedge pattern. If the market breaks the pattern to the downside, it will be a good entry for the bearish position. If we look at the OI data: PCR = 0.7, which shows neutral market sentiments. However, in the past three days, OI activity PCR has been falling gradually from 1.34 -> 1.18 -> 0.7. which shows bears are increasing their position in the market very actively. 48500 is Max-Pain. If this level breaks, there is no support point till 48000. on the upper side, there is resistance at each level (48500-49000). The bulls are very weak at this point. All important levels are marked at the chart. If we look at the FII and DII activity, the Pros are strong and bearish, and clients are bullish. This indicates the market is going to open a gap-down (probably near 200-EMA 15m-TF). There are 2 cases right now. Case 1: inside the channel Sideways. (Low probability) Case 2 : If it breaks to the downside, it is bearish. (High probability) Reasons: EMA(200) < Price < EMA(13), which indicates Weak bulls structure in the market. (Bearish) RSI < 40 shows strong bears' power. (Bearish) PCR = 0.7, which has been falling rapidly from 1.34. shows bears are actively increasing their position size. (Bearish) Price < VWAP shows a bearish market structure. (Bearish) Verdict: Neutral unless the market breaks the trendline and support zone to the downside. Plan of Action : wait for an initial 10 minutes. If it breaks to the downside, GO BEARISH.
NSE:BANKNIFTYShort
by finnova_
4
#Banknifty directions and levels for April 15th."Good morning, friends! Here are the directions for April 15th: The global market trend is bearish, supported by the Dow Jones, while our local market sentiment indicates a moderately bullish trend. It might open with a gap-down start, as suggested by GiftNifty, showing a -120 point decrease. I'm really sorry, I can't say exactly how the market will react today because of the geopolitical issue. However, this is my view today: if the market finds support around the immediate support level, then structurally we can expect a 23 to 38% pullback wave. If it has a three-wave structure, it's a better confirmation for correction. Even though after that pullback, if it rejects there (at 38%), then we can expect a correction that may reach once again the previous bottom. And if it breaks, then the correction will likely continue. On the other hand, if the pullback sustains and breaks the fib level 38%, it could consolidate between the previous high and recent low. The alternate view suggests that if the gap-down breaks or consolidates around the immediate support level, it might continue the correction further."
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY Intraday Trade Setup For 15 Apr 2024BANKNIFTY Intraday Trade Setup For 15 Apr 2024 Bullish- Above 49060 Invalid-Below 48950 T- 49650 Bearish-Below 48450 Invalid- Above 48560 T- 47890 BANKNIFTY has closed on a bearish note last week as it has closed at week low and formed a shooting star candle in weekly TF. I consider only 2nd leg shooting star to trade and last week candle is that. Below 48470 it will be activated but I will personally plan positional short in the pullback near 48850 so that our risk will be small 49080. This will be executed on a bearish reversal price structure in 5 Min TF or else we will buy above 49060. Next week looks bearish. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 49060 then we will long for the target of 49650. For selling we need a 15 Min candle close below 48450. T- 47890. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 9 Apr 2024BANKNIFTY Intraday Trade Setup For 9 Apr 2024 Bullish-Above 48730 Invalid-Below 48620 T- 49135 Bearish-Below 48400 Invalid-Above 48510 T- 48070 BANKNIFTY has closed on a slight bullish note with 0.18% gain today. It has formed a spinning top candle which is once again neutral and indecisive sign. We will plan a short trade below 48420 however bears will try to grip below 48500. Incase this trade goes in flow and tomorrow's daily candle is bold bearish then a bearish trend may start in the coming days. 48070 will be our 1st target and support of the day. Above 48730 we will long. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 48730 then we will long for the target of 49135. For selling we need a 15 Min candle close below 48400. T- 48070. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 8 Apr 2024BANKNIFTY Intraday Trade Setup For 8 Apr 2024 Bullish-Above 48570 Invalid-Below 48460 T- 49131 Bearish-Below 48200 Invalid-Below 48310 T- 47650 BANKNIFTY has closed on a bullish note with 2.9% gain today. Index is at striking distance to ATH and possibility of ATH breakout is high. Tomorrow will be an deciding day weather index gives a breakout of 48600 to establish a fresh uptrend. In case index opens flat/ gap down and will be unable to take out today's high, EOD makes a red candle then index will follow the same channel in daily TF. 48570 and 48200 are intraday levels to trade on breakout tomorrow. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 48570 then we will long for the target of 49131. For selling we need a 15 Min candle close below 48200. T- 47650. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
Banknifty Prediction for tomorrow 8 April 24Banknifty has been in an uptrend for the last week. By looking at the chart: BankNIfty is trading at an all-time high right now. The Bulls are weak at this point. In the past two days, there has also been selling pressure. By looking at the OI data: PCR = 1.34 indicates a bullish market nature. 48500 will be acting as the Max-Pain. Above 48500, there is not much resistance. Below 48500, there are minor supports till 48000, and then, at 48000, there is a huge PE writing, which is going to provide a strong support zone. I am expecting the market to get some consolidation in upcoming sessions, which might lead to a high volatility sideways market. All important levels have been marked at chart. Support: 47770, 47410 Resistance: 49000, 49400 Reasons: The market has given a nice bull momentum, which now requires consolidation. The market is trading at the resistance zone 1H-TF. Price > EMAs show a bullish market structure. RSI > 60 is in the bullish zone. Price > VWAP, which indicates that the market price is not balanced. Verdict: Sideways or bullish Plan of action: Sell 48500 CE & 48200 PE (Hedge it with 20/-)
NSE:BANKNIFTY
by finnova_
BANKNIFTY Intraday Trade Setup For 5 Apr 2024BANKNIFTY Intraday Trade Setup For 5 Apr 2024 Bullish-Above 48260 Invalid- Below 48150 T- 48800 49150 Bearish-Below 47700 Invalid-Above 47810 T- 47350 46970 BANKNIFTY has closed on a positive note with 0.92% gain today. Both side moves were seen in today's session after a long time. We saw an increase in candle's size and which is due to Expiry and RBI Credit Policy tomorrow. Tomorrow there will be both side moves due to event. I will personally not trade tomorrow. 48800 and 47700 are major levels for tomorrow's session. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 48260 then we will long for the target of 48800 and 49150. For selling we need a 15 Min candle close below 47700. T- 47350 and 46970. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
Banknifty around ATH, trading levels for intraday 05/04/24.Banknifty has given a hammer candle around the higher levels after a gap up opening above 48k levels. The index came for profit booking after a good gap up and closed round 48k levels. Now the market is around the last resistance zone of 48300 and then there is the ATH. After a 3 day consolidation there was a gap up and it took the opportunity of making money in the up move. In case of another gap up, bullish trades on the retest can be made around 48300 levels . If there is a flat to slight gap down, bullish trades above 48250 can be created. Major Resistance levels :- 48250, 48530-590 The market has created highs after gap up openings. In the scenario too, it seems market will show some gap up if it wants to create new ATH. Support levels :- 47700, 47430 Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
BANKNIFTY Intraday Trade Setup For 4 Apr 2024BANKNIFTY Intraday Trade Setup For 4 Apr 2024 Bullish-Above 47720 Invalid-Below 47610 T- 48210-50 Bearish-Below 47350 Invalid-Above 47460 T- 46970 BANKNIFTY has closed on a slight bullish note with 0.17% gain today. It seems to be a strong bulls presence as it opened gap down due to global cues and then recovered and closed near day high. Above 47720 we can expect a strong bullish impulse towards 48250 zone. Best case bullish trade will be if index opens below 47700 and breaks 47720. It is a high probability trade. Below 47350 we will plan a short trade towards 47k zone, 47370 being intra support. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 47720 then we will long for the target of 48250. For selling we need a 15 min candle close below 47350. T- 46970. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
BankNifty- 02 Apr - 47465 support defense crucial for UP moveBankNifty Analysis - Stance Bullish ⬆️ BankNifty defends the support of 47465 today also, much-needed confirmation to hold on to our bullish stance. The next leg of the rally should ideally come from the banking sector. But the biggest concern I have is that the actual torch bearer of the directional trend has shifted to NiftyIT from BankNifty. From Jan 2024, BN has been a laggard whereas NiftyIT did drive the Nifty50’s directions. The power struggle was quite obvious as Jan to March was pretty bad for most option traders. Neither the trend following nor the option selling strategies worked out. NiftyIT is currently in a reversing trend. If BankNifty starts to move up and IT moves down and if Nifty sides with IT rather than the banks then we are in for a big disappointment. Let us hope the Banks take back the control from IT, the rationale being it is the sector with the highest weightage. The trend is safer if the highest weighted sector drives the show. The first thing BN has to do is take out the ATH. We wish to start the day tomorrow with a bullish tone and then switch to a cautious mode if 47465 support is getting broken. Tomorrow being expiry, a 100+ quick points move could surge the options premium. As it stands the premiums are not suggesting any directional move. Algo Trading Our algo trades ended today with a gain of Rs31517, again I pulled the plug early to save the transaction costs and book 2/3rd of theoretical profits.
NSE:BANKNIFTYLong
by viswaram
BANKNIFTY Intraday Trade Setup For 2 Apr 2024BANKNIFTY Intraday Trade Setup For 2 Apr 2024 Bullish-Above 47650 Invalid-Below 47540 T- 48055 Bearish-Below 47370 Invalid-Above 47480 T- 46970 BANKNIFTY has closed on a bullish note with nearly 1% gain today. It opened with a gap up near our buy level and buy triggered above 47450 and gave a move till 47640. After a big gap up 10 o'clock range was to be used as per trade setup but it was not triggered, index traded inside 10 o'clock range. Tomorrow below 47370 it can trigger a pullback move towards 46970 as per half bat pattern same will be intraday support. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 47650 then we will long for the target of 48055. For selling we need a 15 Min candle close below 47370. T- 46970 and 46625. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto