Bankniftystrategy
A Breakout in HDFC can take Bank Nifty to one more High? July 243rd July, 2024: Bank Nifty Elliott Wave Analysis
The impulse that started on June 4th after the election day crash is still ongoing and progressing through waves 1, 2, 3, 4, and 5.
Bank Nifty has completed waves 1, 2, and 3, and currently, we are in wave 4 (at present, we're not considering further extension scenarios of wave 3).
HDFC Bank & Bank Nifty:
HDFC Bank has a 28.38% weightage in the Bank Nifty index, and currently, HDFC is standing at a multi-year breakout level.
We shared the HDFC Bank analysis a few weeks ago; please check the link below.
[ Link to HDFC Bank Analysis ]
Buy Entry Points:
Wait for a good dip near the 51600-51800 range and check if the price forms a W pattern and gives a breakout above the TS, KS & Cloud in Ichimoku.
Exit Points:
We have to wait for the wave 4 low point to determine the wave 5 target. We will update the status here and in our Telegram group: t.me
Stop Loss:
100-150 points below the wave 4 low point. We will update once we get confirmation.
The risk-to-reward ratio will be great because wave 5 is expected to cross 53K.
Note: This trade is not active yet. Confirmation is always good for entry and exit.
Disclaimer: We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Banknifty and nifty option tradesPlease follow levels and try to learn there is nothing like holy grail in this market , your skill will make you profitable so work on your skill , money will automatically follow.
#BANKNIFTY - 20/03/23 MARKET VIEWAfter analyzing the BANKNIFTY chart on the 15-minute time frame, it appears that there is a noticeable bearish sentiment in the market. This is indicated by the current dominance of sellers, which suggests a potential downtrend in the short term.
As such, it may be wise to consider a short entry position at 39190. This would involve selling BANKNIFTY at the current price with the expectation that it will decrease in value, resulting in a profit.
To manage risk, a stop loss order can be placed at 39460. This will automatically trigger a sell order if BANKNIFTY rises above this level, helping to limit potential losses.
The target for this short position is set at 38760, which represents the expected price level for BANKNIFTY to reach as it moves lower. Once this target is reached, the short position can be closed out to realize a profit.
Overall, based on the current market conditions, taking a short position in BANKNIFTY at 39190 with a target of 38760 and a stop loss at 39460 may present a potential trading opportunity. However, as with all investments, it is important to carefully consider the risks and conduct thorough research before making any trading decisions.
#BANKNIFTY - 20/03/23 MARKET VIEWOn Friday, the 17th of March 2023, the BANKNIFTY showed a strong close, indicating positive market sentiment and bullish momentum.
To capitalize on this momentum, traders can consider taking a long position with a target of 40800 and a stoploss at 38900. The support levels for the index are currently at 39500-39700 range, which suggests that the index has strong footing and is likely to move higher.
To reduce risk while maximizing returns, traders may consider purchasing a monthly expiry Call Option, such as the BANKNIFTY 29 MAR 40000CE. This option will allow traders to take a long position on the index at a predetermined strike price of 40000. By adhering to the given targets and stoploss, traders can minimize potential losses while capturing potential gains from the upward momentum.
Disclaimer: It is important to note that trading in the stock market involves risk and requires a thorough understanding of market dynamics, technical analysis, and risk management. As such, traders should always exercise caution and conduct their own research before making any investment decisions.
BANK NIFTY ANALYSIS FOR 23 JANUARY 2023Bank Nifty is trading in the range of 43600 to 41600 since 28 days and wil remain volatile till it remains here, it is trading in a triangle & range is getting compressed continuously, breaking of which will give a strong move in either direction
Zones Above - 42637-695, 43019-43017, 43510-614
Zones Below - 42234-286, 41861-964, 41569-697, 41320-363, 41051-123
BANKNIFTY 29 AUGUST 2022Guys today onwards i will be posting charts of SPOT instead of FUTURES. As maximum of my followers are demanding it to plot the zones and levels on SPOT, which makes them easy to trade all instruments, as due to Cost of Carry difference between SPOT & FUTURES, they are unable to follow the level on charts.
BANKNIFTY FUTURES 15 JULY 2022BANK NIFTY TODAY 14-07-22
BANK NIFTY opened and got rejected just at mid channel at 34843, went up to zone 35096-35168, made a U turn came down directly to zone 34683-34744, consolidated and reversed from level 34620 precisely.
Power of Tech Analysis. Power of Zones.
NIFTY TOMORROW 15-07-22
You are continuously witnessing the power of my zones and levels.
I dont belive in prediction but reaction to the zones and leves.
Best of Luck Folks.
BANKNIFTY FUTURES 06 JULY 2022BANK NIFTY TODAY 05-07-22
Did you see mates how Bank Nifty reacted to my levels even in highly volatile panic situation.
Started Gap up, broke the trendline of 34180 with high momentum, but could not even dare to cross my zone of 34401-34467.
Took Reversal from there after distribution of contracts to novice bulls who don't follow the levels and trapping them.
Fell ferociously and ended around my zone of 33878-33810
BANK NIFTY TOMORROW 06-07-22
More and more Bank Nifty is getting volatile, the more zones are coming closer, which will make it move in range and increase volatility.
Best of Luck for Tomorrow, kindly trade around zones and levels with price action confirmation.
NOTE - Don't miss the Up trending channel confluence with zone of 33426-33480, I have marked it on chart.
BANKNIFTY FUTURES 22 JUNE 2022BANK NIFTY TODAY 21-JUNE-2022
Started at 32956, took a pause at 33125-33166 zone gave a good entry with small SL of 41 points and reward of 475 points i.e. 11X of SL.
It reversed exactly from below my zone of 33669-33798 and stopped again near my previous zone of 33125-33166 at 33238
BANK NIFTY TOMORROW 22-JUNE-2022
Has got many resistances to move up, hence i feel it a sell on rise for sure, keep watch in all trend lines above.
BANK NIFTY FUTURES 20 JUNE 2022BANK NIFTY TODAY 17-06-22
Whole day Bank Nifty was stuck between my zone 32772-32662, it tried breaking it multiple times, but was in vain.
#POWER OF TECHNICAL ANALYSIS
BANK NIFTY ON MONDAY 20-06-22
This consolidation may break and bring it down towards 32000 very soon, after breaking the 32499-32335 zone, with a strong momentum candle.
Bank Nifty Fut Levels for 17 JUNE 2022BANK NIFTY TODAY 16-06-22
Started with gap up above my zone 33580-33499, Gave good oppurtunity to short with tiny SL.
Then went directly to 33222-33160 zone took a pause for 1.15 hours gave a good short entry again, broke support line of 33025 with momentum candle.
Reached the last zone of 32739-32630, which was in confluence with my down trending channel and finally ended just below the zone at 32573.
#POWER OF TECH ANALYSIS
BANK NIFTY TOMORROW 17-06-22
Kindly observe the price is now in a new down trending channel, trade only around the zones and channels at confirmation of price action.
Bank Nifty Fut Levels for 14th June 2022Hi Good Evening,
Today on 13th June 2022, Bank Nifty had to give a gap down to breach our down trending channel and 2 demand zones.
Then it formed a high momentum first candle to break the demand zone of 33600-33522.
Further went down got demand from the next demand zone at 33210, came up and ended near the previous demand zone 33464.
This is the power of strong zones.
Best of Luck for tomorrow, Kindly enter only around zones at candle confirmations to get best R:R.