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BANKNIFTY Intraday Trade Setup For 10 Jul 2024BANKNIFTY Intraday Trade Setup For 10 Jul 2024 Bullish-Above 52710 Invalid-Below 52600 T- 53350+ Bearish-Below 52240 Invalid-Above 52350 T- 51680 BANKNIFTY has closed on a slight bullish note with 0.27% gain today. However since 5 Jul EOD, it has been said that 52710 and 52240 is the range to trade on breakout, non-directional approach to be kept inside this range. Since last 3 sessions index has been trading between 52710 and 52240. We need to wait for its breakout to trade directional. Be neutral and wait for market to trigger direction. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 52710 then we will long for the target of 53350+. For selling we need a 15 Min candle close below 52240. T- 51680. 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
4
Banknifty predi tion for tomorrow 10 July As we discussed, BANKNIFTY opened sideways and ended sideways with volatility in the uptrending channel. If we look at the chart now: The market is trading in the range of 52276-52676. The market is continuously taking support at 200 EMA. Also, the 1D time frame market is receiving support at 13 EMA, which might lead the market to go bullish. Support levels: 52276, 52000, and 51610 Resistance levels: 52676, 52816, and 53197 If we look at the OI data: PCR = 0.64, which shows a bearish behavior in the market. The market can be seen as very volatile between 52276 and 52676. There has been good CE writing on higher levels, which indicates that bears are powerful. The market should be sideways in the range, and if it breaks the range, it is going to give good momentum. Reason: RSI is 40-60; shows market sideways structure. Price = EMA(13, 50, 200) shows market is at make and break point. Soon, there will be good momentum on either side. PCR = 0.64 shows that the market is bearish. Price < VWAP shows a bearish market structure. Verdict: Neutral Plan of action: The morning 15-minute direction will determine the market direction. Once the direction is confirmed, make the position according to case 1 or case 2 as provided.
NSE:BANKNIFTY
by finnova_
1
Banknifty prediction for today 9 JulyAs we discussed, BANKNIFTY opened sideways and ended sideways with volatility. If we look at the chart now: The market is trading in the range of 52276-52676. Support levels: 52276, 52000, and 51610 Resistance levels: 52676, 52816, and 53197 200 EMA and 50 EMA is going to provide good suport and resistance. If we look at the OI data: PCR = 0.63, which shows a bearish behavior in the market. The market can be seen as very volatile between 52276 and 52676. There has been good CE writing on higher levels, which indicates that bears are powerful. I expect the market to be sideways in the range, and if it breaks the range, it is going to give good momentum. Reason: RSI < 40-60; shows market sideways structure. EMA(200) < Price < EMA(13,50) shows bearishness. If it breaks, the support trendline can give targets till 200-EMA. PCR = 0.63 shows that the market is bearish. Price < VWAP shows a bearish market structure. Verdict: Neutral Plan of action: The morning 15-minute direction will determine the market direction. Once the direction is confirmed, make the position according to case 1 or case 2 as provided.
NSE:BANKNIFTY
by finnova_
BANKNIFTY Intraday Trade Setup For 9 Jul 2024BANKNIFTY Intraday Trade Setup For 9 Jul 2024 Bullish-Above 52710 Invalid-Below 52600 T- 53350+ Bearish-Below 52240 Invalid-Above 52350 T- 51680 BANKNIFTY has closed on bearish note with 0.45% cut today. Although it was bearish, nothing triggered as per trade setup and traded inside plotted support and resistance zone. So we will simply use today's range to trade tomorrow on breakout. 52710 and 52240 are levels to watch out for breakout. Since today's daily candle is a spinning top which is a indecision sign so we need to be neutral and not biased. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 52710 then we will long for the target of 53350+ For selling we need a 15 Min candle close below 52240. T- 51680. 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 July 24As we discussed, BANKNIFTY opened a gap-down and gave a nice bearish momentum to the downside. If we look at the chart now: The market is trading at the support trendline and also took a pullback to the upside in the last hour. The market is also taking resistance at 50-EMA. It might give either side momentum. There can be 2 cases as it's trading at the terminal point. Case 1 : If it opens up, it can continue bullish momentum. Case 2 : if it opens a gap-down to support the trendline, it might continue bearish momentum till 200-EMA. Support levels: 52385, 52081, and 200 EMA Resistance levels: 52827, 53500 If we look at the OI data: PCR = 0.71, which shows a neutral behavior in the market. The market can be seen as very volatile between 52500 and 53000. There is good PE writing at 52500 and 52000, which is going to provide good support. However, 53000, 53100, and 53200 have very good CE writing, which is going to provide a good resistance to the upside. I am expecting the market to be Case 1 : Take support here and again retest the upper resistance trendline. Case 2 : If it breaks to the downside, it can give a bearish target till 200 EMA. Reason: RSI < 40-60; shows market sideways structure. EMA(200) < Price < EMA(13,50) shows bearishness. If it breaks, the support trendline can give targets till 200-EMA. PCR = 0.71 shows that the market is neutral. Price < VWAP shows a bearish market structure. Verdict: Neutral Plan of action: The morning 15-minute direction will determine the market direction. Once the direction is confirmed, make the position according to case 1 or case 2 as provided.
NSE:BANKNIFTY
by finnova_
1
BankNifty Intraday Support & Resistance Levels for 08.07.2024On Friday, BankNifty opened gap-down, found support at the 125m demand zone (51,996 - 52,379) mentioned in the last post, and bounced back but did not fully recover due to a lack of buying pressure, closing 443 points down at 52,660.35. The weekly and daily trends (50 SMA) remain positive. Support Levels: Near Support/Demand Zone (125m): 51,996 - 52,379 Far Support/Demand Zone (75m): 51,510 - 51,784 Major Support/Demand Zone (Daily): 51,138 - 51,934 Resistance Levels: Near Small Supply/Resistance Zone (30m): 53,064 - 53,188
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY Intraday Trade Setup For 9 Jul 2024BANKNIFTY Intraday Trade Setup For 9 Jul 2024 Bullish-Above 52820 Invalid-Below 52710 T- 53400+ Bearish-Below 52250 Invalid-Above 52360 T- 51680 BANKNIFTY has closed with a very small gain of 0.61% gain last week. It has formed a shooting star candle in weekly TF and its low is 51990 , this level is also a hourly swing low. Below its low, shooting star will be active and a bearish grip can be seen in the coming days. 52820 and 52250 will be levels for Monday to watch out for breakout. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 52820 then we will long for the target of 53400+. For selling we need a 15 Min candle close below 52250. T- 51680. 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
2
BankNifty Intraday Support & Resistance Levels for 05.07.2024BankNifty opened gap-up and made a new all-time high of 53,357.70 but stayed within the previous day's range, ending flat with just a 14-point gain. The weekly and daily trends (50 SMA) remain positive. Support Levels: Near 125m Support/Demand Zone: 51,996 - 52,379 Near 75m Support/Demand Zone: 51,510 - 51,784 Major Support/Demand Zone (Daily): 51,138 - 51,934 Resistance Levels: Near Small Supply/Resistance Zone: 53,139 - 53,222 (tested yesterday) Currently, there are no additional supply zones seen on the chart.
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY Intraday Trade Setup For 5 Jul 2024BANKNIFTY Intraday Trade Setup For 5 Jul 2024 Bullish-Above 53360 Invalid-Below 53250 T- 53835 Bearish-Below 52800 Invalid-Above 52910 T- 52250 BANKNIFTY has closed on an absolute flat note today. Nothing triggered as per trade setup, however both plotted support and resistance levels were respected. Tomorrow we will keep neutral view between 53360 and 52800. One should wait for breakout in order to trade directional. 52800 is a major intraday support which was validated today, break of which will trigger a profit booking move. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 53360 then we will long for the target of 53835. For selling we need a 15 Min candle close below 52800. T- 52250. 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
6
BANKNIFTY Intraday Trade Setup For 4 Jul 2024BANKNIFTY Intraday Trade Setup For 4 Jul 2024 Bullish-Above 53260 Invalid-Below 53150 T- 53835 Bearish-Below 52800 Invalid-Above 52910 T- 52350 BANKNIFTY has closed on a bullish note with 1.77% gain today. It opened with a big gap up and post 10:30 AM index went in very small range. Since it has closed at ATH level after 6 days. Tomorrow above 53260 there can be a good move 53260. Potential targets can be till 54370, 53835 as midway target. Below 52800 there can be bearish grip however it is less probable. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 53260 then we will long for the target of 53835 and 54370. For selling we need a 15 Min candle close below 52800. T- 52350. 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 today 03 JULYAs we discussed, BANKNIFTY opened in the channel resistance zone. And the market started falling till 52000. If we look at the chart now: the market is trading in the downside channel in a flag pattern. It might complete the Flag and Pole pattern. If the market takes support from 52000, a good bullish momentum can be seen to the upside. The market is getting ready for the upside. Support levels: 52061, 51809, and 200 EMA and 51292 Resistance levels: 50 EMA, 52609, 52850, 53000 If we look at the OI data: PCR = 0.71, which has changed from 0.87, shows that bears are increasing their position while bulls wind off some of their positions. The market can move in either direction, as per the OI data. 52000 is a good support point, whereas 52500 and 53000 are good resistance points as having good CE writing. The morning 15-minute direction will determine the market direction. Reason: RSI ~ 40 indicates a bearish structure in the market; if breaks to the downside, it can give a good bearish momentum. EMA(200) < Price < EMA(13,50) shows bearishness, and the market can retest the 200 EMA. PCR = 0.70 shows that the market is mildly bearish. Price < VWAP shows a bearish market structure. Verdict: Sideways or Bullish Plan of action: The morning 15-minute direction will determine the market direction. Sell 52000 CE and Sell 52000 PE (Hedge it with 20/- premium); once the direction is confirmed, exit in the opposite position.
NSE:BANKNIFTYShort
by finnova_
BANKNIFTY Intraday Trade Setup For 2 Jul 2024BANKNIFTY Intraday Trade Setup For 2 Jul 2024 Bullish-Above 52700 Invalid-Below 52590 T- 53250 Bearish-Below 52150 Invalid-Above 52260 T- 51645 BANKNIFTY has closed on a bullish note with 0.44% gain today. Mothing triggered as per trade setup, traded between buy and sell levels. After 12 PM index went in a tight range. Since we have closed near day high and the previous swing high in 15 Min TF is closer so if we get a pullback breakout of 52700 then we will long for the target of 53250+. Bears will grip the market below 52150. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 52700 then we will long for the target of 53250. For selling we need a 15 Min candle close below 52150. T- 51645. 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 2nd JULYAs we discussed, BANKNIFTY opened a gap-down and took a reversal till EMA(50) and spent sideways in 2nd half. If we look at the chart now: The market has taken resistance again at 50 EMA (30-min TF). Right now, the market is consolidating in the marked channel. I expect the market to consolidate one more day, and as it is forming a FLAG and POLE structure, it is upside going to give momentum till 53500 as a target. Also, the market is in the process of forming HNS at the top, which might lead to a fall. The market is probably going in both directions. Support levels: 52181, 51809, and 200 EMA and 51295 Resistance levels: 53009, 53500 If we look at the OI data: PCR = 0.87, which has changed from 0.64, shows bulls are increasing their position and bears wind off some of their positions. 52500 is Max-pain. 53000 is the strong resistance level, with maximum CE writing, and 52000 has strong PE writing, which is going to provide strong support. The market does not have a clear direction on either side. It breaks will give nice momentum. Reason: RSI ~ 40-60 indicates sideways momentum. Price > EMA(13,50,200) shows bullish structure. PCR = 0.87 shows that the market is mildly bearish. Price > VWAP shows a bullish market structure. Verdict: Sideways or Bullish Plan of action: wait for the market to break on either side. Sell 52500 CE and Sell 52500 PE (Hedge it with 20/- premium); exit a loss-making position once it breaks.
NSE:BANKNIFTY
by finnova_
BANKNIFTY predeiction for today 01 JULYAs we discussed, BANKNIFTY opened sideways and retested 53000 levels, which started to fall and gave a nice bearish momentum. If we look at the chart now: The market has broken the resistance to the downside with a good bearish momentum. Support levels: 52023, 51830, and 200 EMA Resistance levels: 50 EMA, 52403, 52689 If we look at the OI data: PCR = 0.64, which has changed from 1.32, shows bears are making their position and selling high points. So, some correction can be expected here. 53500 is Max-Pain. I am expecting a correction in the market till 200 EMA. Reason: RSI < 40 falling and also having divergence, which might lead the market to some correction. EMA(200) < Price < EMA(13, 50), which indicates the market can take some correction till 200 EMA. PCR = 0.64, which shows that the market is strongly Bearish. Price < VWAP shows a Bearish market structure. Verdict: Sideways or Bearish Plan of action: wait for 15 min candle. Let the market take resistance at 13 EMA or 50 EMA. Once you see the direction bearish. Sell 52400 CE (Hedge it with 20/- premium)
NSE:BANKNIFTYShort
by finnova_
BANKNIFTY Intraday Trade Setup For 1 Jul 2024BANKNIFTY Intraday Trade Setup For 1 Jul 2024 Bullish-Above 52750 Invalid-Below 52640 T- 53250 Bearish-Below 52240 Invalid-Above 52350 T- 51645 BANKNIFTY has closed on a bullish note with 1.32% gain last week. In the last two days out of 5 sessions it turned slight bearish or can call this a profit booking. Also I alerted 27 Jun EOD that there is a possibility of reversal in case it trades below 52600. It got triggered and now this downside move will be neglected only when it make a bullish price structure in 15 Min TF. 52750 and 52240 will be trigger levels for tomorrow's session. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 52750 then we will long for the target of 53250. For selling we need a 15 Min candle close below 52240. T- 51645. 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
3
Banknifty weekly analysis for 24/06/24.Banknifty on the weekly charts has given a good bullish candle and created a new life time high. It is holding the higher levels and on the monthly candle it has already given a 5% move. Nifty is taking a halt while banknifty is trading on the higher levels. The index has been trading around the same levels for the last 2 trading sessions. In case of a break down, it can test the lower levels around 50k. While the market has travelled to higher levels, there must be a retracement before another bullish leg. Support levels :- 51200, 50730, 50200 Resistance levels :- 51860, 51930-50 Bullish trades are risky as the market is trading in an uncharts zone and can reverse from any level (even the ATH is around 52k level). Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
BANKNIFTY Intraday Trade Setup For 28 Jun 2024BANKNIFTY Intraday Trade Setup For 28 Jun 2024 Bullish-Above 53200 Invalid-Below 53090 T- 53700 Bearish-Below 52600 Invalid-Above 52490 T- 52087 BANKNIFTY has closed on neutral note, formed a spinning candle in daily TF which is halt/reversal sign. In case its low 52600 is broken then it will act as a reversal sign of the uptrend. We can expect a good downside move below 52600. In case 53200 is broken in the higher side then it will be once again solid bullish move. 53700 is will be direct target in the higher side. We will maintain non-directional approach between 53200 and 52600. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 53200 then we will long for the target of 53700. For selling we need a 15 Min candle close below 52600. T- 52085. 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