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Bank nifty Next moveBank Nifty have forming harmonic formation for upside Rally 📌 Please support me with your likes 🤞🏻 and comments 💬 to motivate me to share more analysis with you and share your any opinion about the possible trend of this chart with me ! Best Regards , Davis 🥰 Hit the like 🤞🏻 button to !! Motive some energy !!🥇 📌 Note : ⨻ Check the live market updates and analysis yourself before buy 📈🔺 or sell 📉🔻 ⨺ Am not giving any advisory or signals its just my idea for upgrade my knowledge 📚 in trading ⨹ This is my pre and post market analysis to improve my trading journey 🚀 ⨂ Am Not suggesting anyone to buy or sell ❌ am just giving my views 👀 ⫸ You are responsible for your trading ✅ not me ❌ ⫷ HAPPY TRADING 🥰
NSE:BANKNIFTYLong
by TRADING_MASTER_DAVIS
11th Dec ’23 - BankNifty stalled today after hitting new ATHBankNifty Analysis Banknifty disappointed a bit today. After a shaky start just like Nifty, we hit a new ATH by 10.23 - 47588. From there we cooled off a little bit and then closed flat. From the last post-mortem we hoped that it would be a day of out performance today and sadly the price action today did not live up to that expectation. 4mts chart link - click here BankNifty was staying positive most of the day, but FinNifty was dipping below water intermittently. Was it because the banks wanted some rest today after the chilling performance on Friday? I thought they got the weekend for ample rest. 63mts chart link - click here Conditions are still looking favorable for BankNifty’s breakout-dance. Maybe it could take a day or two to get some breath. Since we have FinNifty expiry tomorrow, the price action may not be purely natural. FinNifty option sellers would prefer to keep it range-bound. I wish to maintain the bullish stance on BankNifty tomorrow also and if we fall or close below 47000 level, I may have to take a pause and change stance to neutral.
NSE:BANKNIFTYLong
by viswaram
4th Dec ’23 - BankNifty has more firepower than Nifty for upmoveBankNifty Analysis The real reason for the outperformance on Nifty50 = BankNifty today. In the last newsletter, we discussed how relevant BankNifty’s next move would turn out to be. Would you believe we took out the ATH today and the new value is 46484.45? 5mts chart link - click here BankNifty went on to take out the 45399 resistance in the gap-up open itself. The momentum was so strong that it was not retested at all. We went flat for a bit but started trending after 12.10. The total gains today was an astonishing 1617pts ~ 3.61%. The options premiums were going crazy today - even the OTM put options. Such was the euphoria today. NiftyIT was not participating at all in the rally today, but I am sure no one would have noticed that as it was overshadowed by BankNifty’s outperformance. 1D chart link - click here BankNifty has just managed to climb back up to the double top pattern set on 21st July & 15th Sep. Since today’s green marubozu looks pretty strong, we can safely assume we are past that threat. Momentum-wise, BN has more firepower than Nifty for the immediate short term. I prefer to stick with my long stance until 45399 support level is taken out.
NSE:BANKNIFTYLong
by viswaram
Banknifty Future chart analysis for 04.12.2023As you can see here after a big burst bollinger bands went to short squeeze if price opens at the same area where it left off and then crosses above 45245 then it can easily cross 45455, and may reach to its final destination of 45654. if price goes below 44923, the price may take strong support at 44742 and may bounce back to the level of 45041, but if price goes below to 44742 then we have to understand it that a broader profit booking and price reach to the level of 44549.
NSE:BANKNIFTY1!
by stoxway
30th Nov ’23 - BankNifty stalled today, not sure of the reasonBankNifty Today Analysis From yesterday’s analysis, I was long into BankNifty and was quite surprised to see the breach of support level 44542 by 09.45. The candle that crossed this SR line took out 154pts, luckily no damage was done and we found a safety net at 44280 levels. 5mts chart link - click here I have not fully subscribed to the idea that the opening fall was due to the over-buying yesterday. Anyway, the bears were not able to overpower the bulls today, if so then we should have retested the 44063 levels. I do not plan to change my stance to neutral until that happens. 1hr chart link - click here The exit polls declared after hours today might show its impact in the forenoon session. I did not carry forward any position for tomorrow and decided to play as it is after the opening. If Banknifty is not able to accelerate to the next resistance of 45399, it could pose some trouble to the current trend. We all know how important the banks are for Nifty’s ATH recoup. -- BankNifty Monthly and Weekly Analysis BankNifty gained an impressive 1023pts ~ 2.36% over the last week, whereas the monthly gains of 1446pts ~ 3.36% were sub-par compared with Nifty. One of the reasons could be attributed to the news event on 17th Nov that took out some bullish momentum on banks.
NSE:BANKNIFTYLong
by viswaram
Banknifty future chart analysis for 29.11.2023as you can see here that all bollinger bands are in narrow upside trajectory and price closed above standard deviation one,if price takes resistance around 44110 then there will a high chance that price may go in sideways. if price crosses above 44110 then you may see a strong current to the upside and price may easily reach to the level of 44265 and then its full target of 44435. if price moves downward after opening near same place where it left off then you can go short below 43906, 43851 is a strong support if price breaks down it then you may see weakness in price,and price may easily reach to the level of 43692 and then 43542.
NSE:BANKNIFTY1!
by stoxway
Banknifty future chart analysis for 23.11.2023As you can see here banknifty taking resistance at standard deviation one, if price crosses above 43767, which is a strong resistance , then it may easily reach 43934 and then 44098. If banknifty crosses below 43490 then it may reach 43326, 43326 is a strong support , if banknifty takes support then it may bounce back to the level of 43623, if breaks down it then it may reach to the level of 43165. Sideways -if takes resistance at 43767, if takes support at 43490.
NSE:BANKNIFTY1!
by stoxway
Banknifty Future chart analysis for 22.11.2023if price goes above 43918 then it will reach 44091, 44091 strong resistance price may again retrace down to the level of 43800, but if price goes above 44091, you may see a strong upside current and price may achieve its full target. As you can see here, that bollinger bands made a short squeeze , there is a high chance that it will burst tomorrow, if it goes below 43648, it mat take support at 43564, but if it crosses down 43564 , you may see weakness in price and it masy reach 43294. Sideways situations- if price rejects from or near the level of 43918, if price takes support near or at 43648,
NSE:BANKNIFTY1!
by stoxway
21st Nov ’23 BankNifty PostMortem - Stance changed to Neutral !BankNifty Analysis BankNifty was perfectly neutral in trade today. I had a bearish call from yesterday but seeing the moves today it makes sense to switch back to the neutral mode. One reason why its not picking up direction would be attributed to the unavailability of information on the recent announcement by RBI. When the risk weights of consumer loans and credit cards were increased by 25% - maybe the market is still gauging the impact of this news. 5mts chart link - click here Few major banks had reported the decision would be similar to a 55bps to 60bps rate in interest. Note, the interest rates are not getting raised, the sucking of liquidity will give such a perception. According to me, a 55bps rate hike kind of feeling is not something that should be taken lightly. Meanwhile as a trader, I would prefer to wait for the markets to decide on where it goes next. 1hr chart link - click here On the 1hr TF, BankNifty has fallen from the recent swing high of 44420, it had amassed gains of 2321pts ~ 5.51% between 26th Oct to 16th Nov (A short span), so it looks like the bulls have not given up yet, and the bears are still not able to make inroads. The support of 43566 has proven quite strong in the last 3 sessions and the next resistance of 44063 is quite far away. Since we are in an indecision zone, I would like to revise my stance from bearish to neutral and go short only if the 43404 support is also getting knocked out.
NSE:BANKNIFTY
by viswaram
Bank Nifty Future chart analysis for 20.11.2023if price goes above 43849 then it may reach 43982 easily, 43982 is a strong resistance and may again go down to the level of 43688, if it crosses above 43982 the it will easily reach to the level of 44124. If price goes below 43563, then it may take support at 43386, 43386 is a super strong support price may bounce back from this area and may reach to the level of 43688, if price crosses below 43386 they you may see weakness in price and it may go pass below final target.
NSE:BANKNIFTY1!
by stoxway
Bank Nifty Future chart analysis for 17.11.2023If price takes resistance at 44395 then it may again retrace back to its yesterday's low. if price crosses over 44395 then you can witness a new upside move and price may reach 44526 pretty easily.44526 again a strong resistance, if price crosses over it then it will reach its final target, but if it retraces from here then it can give you 200 points downside. As you can see here that bollinger bands bursted at the last moment may be much downside moves still waiting, if price goes below 44129, then it may reach to the level of 43950 , 43950 is a strong support price may bounce from here to the level of 44317. if price crosses below 43950 then it may reach to the level of 43797.
NSE:BANKNIFTY1!
by stoxway
Banknifty Future chart analysis for 16.11.2023if price burst upside and goes above 44486, then it may reach 44604, 44604 is strong resistance price may go down to the level of 44429, but if crosses above 44604 then it may reach to final target. As you can see here , that price closed taking support at median line , this situation indicates another sideways, but here situation is little different . as you can see short squeeze in bollinger bands , so tomorrow it may burst. if price burst downside and goes below 44315, then it may reach 44219, 44219 is strong support price may bounce back to the level of 44219, but if crosses below 44219 then it may reach to final target.
NSE:BANKNIFTY1!
by stoxway