Get started

Bankniftyprediction

BANKNIFTY Intraday Trade Setup For 04 Jul 2023BANKNIFTY Intraday Trade Setup For 04 Jul 2023 Buy-Above 45355 Sl-45245 T- 45665 45928 Sell-Below 45040 Sl-45150 T- 44747 44447 BANKNIFTY has closed on a bullish note with almost 1% gain today. After the daily range breakout above 44500 it is giving non-stop momentum. We will keep on riding this swing position till our TSL is hit. If a daily candle closes below PDL and that red candle's low is breached then we will exit. Today it opened with a decent gap up above our buy level and both targets were achieved as per trade setup. Nothing triggered as per 10 o'clock range breakout. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 45355 then we will long for the target of 45665 and 45928. For selling we need a 15 min candle close below 45040. T- 44747 and 44447. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
1
03 Jul '23 Post Mortem on BankNiftyBN had a different style of price action today comparing with N50. The open was gap-up & the rush to hit the HOD at 09.55 was similar. But what followed from there had minor changes. 1. The fall of 0.69% ~ 312pts from the top did have an impact on the momentum 2. Unlike N50, BN did not persist at the HOD levels after the first retracement. N50 had 3 more attempts at the top, it even ended at the top. One of the reason would be surge in stocks like ITC & RELIANCE which are not part of BN. From the options flow I could not detect any aggressive shorts getting written for BN unlike N50 - so I am not calling a top for BN today! Tomorrow's Finnifty expiry might really set the tone for banknifty as well. And the HDFC-HDFCBK merger, delisting & relisting has to be contained. If HDFCBK assumes 44 to 46% in banknifty & Finnifty - it wont look good from an index management perspective. Quite sure the officials will do something on it soon. 1hr TF Today's island formation really stands out, unlike N50 the other 3 days are not perfect islands as BN has closed the gaps quite cleanly. The nearest support is at 44068 ie 1100pts below. These are uncharted territory & the price behavior could get even more volatile. Always remember to wear your options trading seat-belts for BN :)
NSE:BANKNIFTY
by viswaram
BANKNIFTY Intraday Trade Setup For 03 Jul 2023BANKNIFTY Intraday Trade Setup For 03 Jul 2023 Buy-Above 44790 Sl-44680 T- 45039 45265 Sell-Below 44615 Sl-44725 T- 44370 44115 BANKNIFTY has closed at all time high with 2.58% gain last week. Last week 44100 and 43340 was the hourly range and 44500 and 43340 being the daily range. Hourly range and daily range both shifted in the upside. Index is heading towards 45700-46k zone as per the daily range shift. No sign of selling till we get a bearish price structure in daily TF. Dips will be considered to buy on a reversal sign as pullback trading. 44790 and 44615 are important levels for Monday's session. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 44790 then we will long for the target of 45039 and 45265. For selling we need a 15 min candle close below 44615. T- 44370 and 44115. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
30 Jun '23 Post Mortem on BankNiftyComparing with N50, banknifty did close the gap-up opening. Looking at the opening minutes I felt BN had more inclination to fall into the trading range of the previous day, but the way in which NiftyIT was surging - BN would have changed the mind to play along. BN also hit a new all time high of 44787.1 today, but the thrust to go up was not as convincing as N50. HDFC-HDFCBK may be the primary reason that these indices has got a new-found passion to outperform. Well we had 2 news flow in IndusInd and Federal Bank which helped it jump more than 3%. The one aspect in today's price action was the helplessness of the bears, they tried to bring down BN on 2 occasions but did not get enough crowd support.  The good news that came in was "Indian banks' gross bad loans fall to a 10-year low of 3.9%: RBI's Financial Stability Report". One news which looked scary was "Bank of America nurses $100bn paper loss after big bet in bond market". I am not sure if the SPX & SPF has priced this in. Something is not adding up, either the US FED rates are too high or the Indian RBI rates are not high enough. We have dichotomy in the financial sector - India vs US. 1hr TF BN has 2 islands vs 3 for N50. The new support level is now 44443 below which we can expect some range-bound trade. As it stands situation is very favorable for the bulls to continue the dream run.
NSE:BANKNIFTY
by viswaram
Banknifty trade plan for 30/06/2023Nifty is at ATH but BN yet to close above ATH. It still shows the attempt buy bulls, but struggle here is for real. there is a possibility to open gap up go lower on intraday and then reverse from resistance turning to support and close above ATH. combining it with nifty a pull back for retest is due, so that makes sense. Let bears digest the fact they failed, and then play safely directional. Now buy on dip is confirmed, so if any gap down also it will be a buy.
NSE:BANKNIFTYLong
by KamalKJoshi
BANKNIFTY Intraday Trade Setup For 30 Jun 2023BANKNIFTY Intraday Trade Setup For 30 Jun 2023 Buy-Above 44510 Sl-44400 T- 44716 44932 Sell-Below 44240 Sl-44350 T- 43995 43778 BANKNIFTY has closed on a bullish note last day with 0.47% gain. On 26 Jun EOD we planned our trade as per the symmetrical triangle breakout. Breakout happened in the upside and buy triggered above 43690 and index just exploded for a fresh ATH (43690-44500+). Last week we marked 44500 and 43340 (43400) as the daily range. We are likely to breakout above 44510 for a fresh rally. No aggressive selling till we break 43340 (43400). Last day buy triggered above 44195 and hit our 1st target 44500. 44510 and 44240 are important levels for tomorrow. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 44510 then we will long for the target of 44716 and 44932. For selling we need a 15 Min candle close below 44240. T- 43995 and 43778. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 28 Jun 2023BANKNIFTY Intraday Trade Setup For 28 Jun 2023 Buy-Above 44195 Sl-44085 T- 44510 44715 Sell-Below 43900 Sl-44010 T- 43690 43490 BANKNIFTY has closed on a bullish note with 1.1% gain today. yesterday a symmetrical triangle was plotted in the trade setup. Breakout happened in the upside and explosive move came. Buy triggered as per trade setup above 43690 and hit all our targets. Trade gave almost 500 points gain (43690-44194+). Above 44200 we will test the daily range high 44500+. For selling we need a a sell setup in intraday. However 43900 is important to watch out. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 44195 then we will long for the target of 44510 and 44715. For selling we need a 15 Min candle close below 43900. T- 43690 and 43490. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
#banknifty"Good morning! As of June 27th, The global market is showing a neutral to a slightly positive start with a moderately bearish market sentiment. There is a possibility of a slight gap-up opening. If the market experiences a pullback afterward, we can expect a minor pullback to reach the immediate resistance zone. If the market turns around there, we can anticipate a correction. Alternatively, if it breaks, we can expect a pullback continuation. On the other hand, if the initial market decline is sharp, the correction will likely continue with minor pullbacks."
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY Intraday Trade Setup For 27 Jun 2023BANKNIFTY Intraday Trade Setup For 27 Jun 2023 Buy-Above 43690 Sl-43580 T- 43910 44100 Sell-Below 43540 Sl-43650 T- 43300 43077 BANKNIFTY has closed on a complete flat note today. It traded inside previous day's range the whole day. Nothing triggered as per trade setup today. There was a trend till 10:30 which was 200 points in length, then after it was complete sideways between 43690 and 43540. This was a very narrow range, less than 150 points. We will simply use this range to build our trade tomorrow. VIX is ultra low. Breakout of the daily range will kick in momentum in intraday. Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 43690 then we will long for the target of 43910 and 44100. For selling we need a 15 min candle close below 43540. T- 43300 and 43077. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
PostMortem on BankNifty Today & Analysis of 26 JUN 2023BN opened gap up, but right at the opening itself we all anticipated that we are not going to have an up day today. The options flow gave me a bearish bias and was looking for opportunities to enter. The first swing till 10.50 where we had a drop of 222pts & then a retracement of 113pts looked healthy and almost filling all the checklist for the 2nd leg. Instead of making a lower low - the 2nd leg made an upmove to take out the retracement high. By this time the options premium was dead - indicating no more uncertainty ahead. SBIN & ICICIBANK gave ample support to BN today & prevented it from falling. Again the conviction of the bulls were quite strong. Between 15.00 to 15.05 BN made a quick surge of 105pts and then quickly lost it between 15.10 to 15.15 - might have taken out the stop losses of few option traders today. The way in which PE options reacted made me think the major participants would want BN to go up. 1hr TF The double bottom W pattern that formed with the bottom at 43404 is still intact. The upmove from 20th Jun to 22nd Jun was pretty weak that did not allow it to go past the resistance zone of 44068.
NSE:BANKNIFTY
by viswaram
Bank Nifty - Prediction & Intraday Levels for - 27 Jun 2023Banknifty Tomorrow: Moderately BULLISH Banknifty likely to Open flat or Small Gap up around 43670 where we can look for BUY on the opening for Target 43873. from there BNF might take reversal for lower targets. BNF is pending to revisit 43450 level which might be tested before its rally. 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 Intraday Trade Setup For 26 Jun 2023BANKNIFTY Intraday Trade Setup For 26 Jun 2023 Buy-Above 43825 Sl- 43720 T- 44040 44280 Sell-Below 43515 Sl-43620 T- 43300 43077 BANKNIFTY has closed on a bearish note last week with 0.72% cut. After the breakdown of rising wedge pattern below 43930 in hourly it is in decline mode. To change its phase index has to sustain above 44100 in hourly and daily TF. Daily range is 44500 and 43340 (43400). Breakout of this broad range will give us the next directional move for short- term. VIX will rise on this range shift. Till then zig-zag moves will be common in intraday. 43825 and 43515 are important levels for Monday's intraday. Coming to Monday's trade setup, if index opens flat and a 15 min candle closes above 43825 then we will long for the target of 44040. Above 44050 it will hit 44300 zone. For selling we need a 15 Min candle close below 43515. T- 43300 and 43077. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
Bank Nifty - Prediction & Intraday Levels for - 26 Jun 2023Banknifty Prediction for Tomorrow: BULLISH Reversal BNF likely to open small gap down, and further bearish move can be expected until 43400-43300 level. 43300 is where might expect strong BULLISH reversal towards 44000 & 44500 this week. 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 weekly analysis for last week of June (26/06/23).Banknifty on the weekly charts has been forming doji after doji and has lost 300 points on week to week close. It has been consolidating on the higher levels but nifty is not supporting the up move. As nifty is still to form a new ATH whereas, banknifty has formed a new ATH. On the daily charts, market has formed a perfect doji candle after a gap down opening. Banknifty has closed below the 20 EMA and if it breaks down below 43400 levels it can test the 200 EMA. The moving averages, on the hourly charts, have converged and are close to each other. Market are yet to decide the trend. Bearish moving averages crossover is there, on 15 minutes time frame, and market has been taking rejection from 20 EMA . Support :- 43400, 43120 Resistance :- 43760, 44050 Wait for the price action near the levels before entering the markets.
NSE:BANKNIFTY
by TheMamboMomentum