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Bankniftyprediction

#banknifty directions and levels for October 10th.Bank Nifty Current View: Similar to Nifty, if the gap-up doesn't sustain or the market rejects near the immediate resistance level of 51,535, the correction may likely continue with a minimum downside of 78%. Again, confirmation is needed: after rejection, the market should break the lower trendline or the previous day's closing candle. This is our first variation. Alternate View: The alternate view suggests that if the gap-up sustains, the market could reach the 51,535 level. After that, if the market consolidates or breaks this level, we can expect the pullback to continue, targeting a minimum upside level of 51,812 to 51,895. This forms our alternate variation.
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY - SHORT TRADE FOR HUGE PROFITSymbol - BANKNIFTY BANKNIFTY is currently trading at 53920 I'm seeing a trading opportunity on sell side. Shorting BANKNIFTY Futures at CMP 53920 I will be adding more position if 54400 comes & will hold with SL 54720 Targets I'm expecting are 52800 - 51800 - 51100 & below. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
NSE:BANKNIFTYShort
by akshit_official
5
#Banknifty directions and levels for October 3rd.Current View: If the market opens with a gap-down, both Nifty and Bank Nifty are expected to continue in a bearish structure, with some minor consolidation. Even if there’s a pullback, this type of correction typically won’t break the 38% Fibonacci level in the minor swing. This is our first scenario. Alternate View: If the market initially rejects around the immediate support level and breaks the 38% Fibonacci level in the minor swing, it could shift into a range-bound market. In this case, targets are expected around the 78% Fibonacci level in the minor swing.
NSE:BANKNIFTY
by Manickamtraders
Banknifty analysis for weekly expiry 01/10/2024.Banknifty weekly expiry can be seen taking market towards another round number figure of 52500 levels. There was a good bearish movement on the daily charts, market closed 850 points lower. Chance of a follow through can be seen as both the index are moving in tandem. Watch banknifty breaching 52780 levels as there will be double support break down. Major levels to look for tomorrow :- 53060, 52780, 52625 Wait for the price action near the levels before entering the markets.
NSE:BANKNIFTY
by TheMamboMomentum
#Banknifty directions and levels for September 30th.Bank Nifty Current View: Bank Nifty reflects the same sentiment as Nifty. If the market finds support around the immediate support level (23%), we can expect a minimum bounce back of 38% to 61%. It looks like a range-bound market. If this occurs, the next movements will be determined by whether it breaks the previous high or the downside Fibonacci level of 23%. This is our first variation. Alternate View: The alternate view suggests that if the gap-down sustains and breaks the immediate support level, then the correction is likely to continue down to the minimum level of Fibonacci 53389 to the 38% Fibonacci level.
NSE:BANKNIFTY
by Manickamtraders
6
27th Sep 2024 - BankNifty ended the week in RED, consolidating?BankNifty Stance Neutral ➡️ Looks can be deceiving, BankNifty ended the week negative, losing 104pts ~ -0.19%. The reason I chose the title "Who is contributing to the gains" is really valid here. NiftyIT only went up 48pts ~ 0.11%. So who really helped Nifty go up 1.38%? The truth is, there was a strong sector rotation, and the laggards caught up this week. The leaders ending the week flat could be a warning sign of consolidation or reversal.  BN has been a true leader and its last bullish leg started on 9th Sep. We are up 3456pts ~ 6.86% since then. For the next week, I would like to change the stance to neutral and go bullish if we are breaking out again.
NSE:BANKNIFTY
by viswaram
BANKNIFTY Intraday Trade Setup For 24 Sep 2024BANKNIFTY Intraday Trade Setup For 24 Sep 2024 Bullish-Above 54200 Invalid-Below 54090 T- 54764 Bearish-Below 53740 Invalid-Above 53850 T- 53200 BANKNIFTY has closed on a bullish note with 0.58% gain today. It was firmly bullish since opening, however free float move came above 54k. There can be continuation of bullish move above 54200 post pullback breakout. Next confluence zone seems to be 54800. Below 53740 profit booking can be triggered. Overall buy on dips with bullish reversal structures in intraday. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 54200 then we will long for the target of 54764. For selling we need a 15 Min candle close below 53740. T- 53200. 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 Directions and Levels for the Last Week of SeptemberCurrent View: The sentiment is similar to Nifty, but structurally, we shouldn’t expect more than a 38% correction in the minor swing. If the market rejects near the immediate resistance, we could complete the 3rd sub-wave at that point, and the rejection would indicate the start of the 4th wave. Typically, the 4th wave doesn’t involve a deep correction, so we can expect a maximum correction of 23% to 38% in the minor swing. Alternate View: The alternate view suggests that if the market consolidates or breaks the immediate resistance, the 3rd wave could extend to levels of 54,840 to 55,141.
NSE:BANKNIFTY
by Manickamtraders
13 Sep 2024 - 51400 levels very important for BankNifty tradersBankNifty Stance Bullish ️⬆️ Everything was looking very bearish last week, but the price action on the 9th came as a surprise. By the 10th of September, the bears had given up its hold and the next target was to take out the 51400 so that the bulls could show their dominance. The breakout from the 51400 level happened on the 12th wherein BN rallied an impressive 692pts ~ 1.35%. If you remember our 23 Aug technical analysis report, you may be able to understand why the 51400 level was so important. The breakout just cemented the position of the bulls. Our stance for the next week has been changed to bullish. Again 51400 levels become the new support level below which we will go neutral.
NSE:BANKNIFTYLong
by viswaram
#Banknifty directions and levels for September 13th.Current View: If the market opens with a gap-up, it may face rejection around the previous high. If this happens, it may enter some consolidation between the previous high and the 38% Fibonacci level to the downside. This is our first variation. Alternate View: The alternate view suggests that if the gap-up doesn’t sustain, it may find support around the 38% Fibonacci level. If this occurs, it typically consolidates between the 38% and the previous high. In this case, if it breaks below the 38%, we can expect the next target at the 50% level; however, the correction will continue only if it breaks the 50% Fibonacci level solidly.
NSE:BANKNIFTY
by Manickamtraders
Banknifty weekly analysis for 09/09/2024.Banknifty is trading below the 50k levels and the weekly bearish engulfing candle signifies some bearishness coming. The market has reversed from 50% fib levels and the pattern formation is also negative. Index seems to give a follow through candle in the same direction as it has been trading silently for past few days. Major levels :-50400, 49940, 49670 If market starts trading below 49700 levels, a bearish trend will be confirmed and sell on rise will be the market cycle. Resistance levels :- 51000, 51320 Banknifty is trading below all the moving averages on the hourly charts and has also breached 20 & 50 DEMA. Trade only the setup market create. Use trailing SL and profit booking on the targets. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
06 Sep 2024 BankNifty has fallen only 694pts, calling the bearsBankNifty Stance Neutral ➡️ BankNifty has lost only 694pts ~ 1.35% over the last week and interestingly 896pts drop came on Friday, 6th Sep. Our stance has been neutral for quite some time now and prefer to stay neutral until 49728 is not getting taken out. The daily candle of BN is quite different than Nifty. BN did not even retrace the top that it made on 4th July, whereas Nifty had gone past that level. Honestly, there is something that is bothering the banks. The news that the deposit growth is slowing could be one reason. My opinion is that our deposit rates are much higher and were raised much lower proportionately than in the US. At 6.5%, the repo rate is no longer attractive and is seducing the depositors to withdraw and park in riskier asset classes like Mutual funds. Then there is the news from what is happening in SEBI. The employees are protesting demanding better working conditions and obviously, the highlight is the corruption allegations of the SEBI Chief. The problem is that such allegations even if not true will impact the credibility of the Indian equity ecosystem, especially from a foreign investor point of view. If the allegations are true, then many companies will face the heat and among that, the biggest losers will be banks. Any company that has pledged its shares with the banks and if it is taken down, will drag the banks along with it. With dropping prices, the companies may face margin calls and banks will bear the heat. The main reason banks are reluctant to go up could be due to this reason. The first main support comes at 48947 and I hope we do not go there this week itself.
NSE:BANKNIFTY
by viswaram
#Banknifty directions and levels for September 4th.Bank Nifty Current View: The sentiment is similar to Nifty; however, for Bank Nifty, it’s uncertain where it will open exactly, so I’m making an assumption. If the market opens with a long gap-down, it may find support around the 61% to 78% Fibonacci level. If this happens, we can expect a 23% to 38% minor bounce back. This bounce back could be part of a sub-wave 4, which is a consolidation wave. Once this consolidation breaks to the downside, we can expect the 5th correctional wave. This is our basic structure. Alternate View: The alternate view suggests that the market is currently in a range-bound phase, so it may try to maintain its range even if it opens with a long gap-down. If the market takes a solid pullback and breaks the 38% Fibonacci level in the minor swing, it will likely continue in the range-bound structure. This is our alternate variation.
NSE:BANKNIFTY
by Manickamtraders
3
Banknifty weekly expiry analysis for 04/09/2024.Banknifty has been lagging behind and is still 1500-1700 points lower from its all time high. The market in the final hour has given a nice upside rally and closed above the round number levels and the resistance zone. An engulfing candle is formed on the daily charts and tomorrow is weekly expiry in the index. If there is a gap up opening there are chances of it giving a nice upside rally. In case of a flat to slight gap down opening, a slaggishness can be seen as the makret is behaving now a days. Major support levels :- 51550, 51310 Resistance zone :- 51880, 52000, 52150 Banknifty has taken a good support from the Hourly 20 ema and given good upside move. If the move continues a trade can be initiated above the resistance zones. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum