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PostMortem on BankNifty Today & Analysis of 04 JAN 2023Probably you would feel it repetitive when i said the nifty and bank nifty made moves when the US markets were on holidays.  Look what happened today with bank nifty - we have negated the 2 day's of price action ie. 02 Jan and 03 Jan. Which means we have closed today at the same value as of 30th Dec The child was having a nice time when the mom was on leave, now that she is back & has grounded him ! Lets now analyze the 5mts TF - BN opens at 43417 and makes a move up in the opening 10mts - HOD 43578 at 09.25. This would be the poor participants who would have taken a long position based on yesterday's price action. And then the first leg of fall from 09.25 to 12.10 a fall of 670pts ~ 1.54%. The bank nifty's fall happened sooner than my marked SR level of 42888.  There was a brief pull back rally from 12.15 to 14.10 almost a 38.2% retracement Fibonacci - notice i have marked the FIB levels based on the HOD and the low formed at 12.10 because that's where it reversed. The 2nd leg of rally had a higher intent but we ran out of time. Bulls need not be that much worried because the first level of support is still not breached. What may have happened would be the after effect of the 2 day unchecked rally. Today's price move in US & tomorrow's expiry may set the tone for further action. check the image above, 49000 CE was traded for 90.52 lakh qty, 46000 CE 1.48 crores, 45000 CE 3.15 Crores, 43000 CE 11.8 Crores. The option trading participation & volumes picked up when the market started moving. Even there was a spike in the option premiums of PE at 12.07 - see 8 charts below - even the far OTM PEs prices almost went up 150% This sets the stage for a wonderful expiry tomorrow. If US market falls today then we can expect further corrections here due to the domino effect created by the options positioning (mostly expiry related). I am skipping the bank nifty component analysis as today's price action would be broad based!
NSE:BANKNIFTY
by viswaram
Banknifty spot chart Analysis for 02.01.2023Banknifty standing just above a strong support of 42966. if banknifty crosses above 43113 then it may also cross 43266 and may reach to the level of 43418. between 43266 to 43418 is also an extremely strong resistance zone . If Bank Nifty crosses over 43418 then it may also cross 43571 and may reach to the level of 43713. if banknifty crosses down below 42966 then it may also cross 42814 and may reach to the level of 42671. if banknifty crosses below 42671 then it may also cross 42508 and may reach to the level of 42349. If banknifty crosses down 42349 then it take bounce back from bounce back zone. it is highly unlikely that banknifty will cross 43713 tomorrow and reach higher levels.
NSE:BANKNIFTY
by stoxway
FASP Levels for BankNifty 30/12/22The FASP for BankNifty is listed for 30-12-2022 . You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. V alidity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTYShort
by SathishChandrasekaran
Banknifty spot chart Analysis for 29.12.2022Banknifty standing inside a strong resistance zone of 42814 to 42966. if banknifty crosses above 42966 then it may also cross 43313 and may reach to the level of 43266. between 43266 to 43418 is also an extremely strong resistance zone . If Bank Nifty crosses over 43418 then it may also cross 43571 and may reach to the level of 43713. if banknifty crosses down below 42814 then it may also cross 42671 and may reach to the level of 42508. if banknifty crosses below 42508 then it may also cross 42349 and may reach to the level of 42191. If banknifty crosses down 42191 then it take bounce back from bounce back zone. it is highly unlikely that banknifty will cross 43713 tomorrow and reach higher levels.
NSE:BANKNIFTY
by stoxway
PostMortem on BankNifty Today & Analysis of 28 DEC 2022When i said i was bearish yesterday, a drop of 32pts was not what i was referring to. Bank nifty held its head high almost the entire day, only the 15.10 candle shows some signs of weakness & a minor break of support. I was literally unable to take any trades today such was the move of bank nifty today. Well it did not move - killing out the premiums of options both CE and PE. Usually i dont miss any day or sizeable opportunity - but today it was quite a different day ! As you all know i am an option seller only when there is anomaly, i can say with 100% guarantee that today there was nothing. Either the total volumes were very low & speculations were near zero. Or the traders were not taking fresh positions for the expiry tomorrow. Finally the only trade i took today was a ratio spread by selling 1 lot of 42500 PE and buying 2 lots of 42400 PE - yes a bearish bet for tomorrow. The options premium are not indicating any direction and this position i took was basically a hunch not backed by any indicator or confirmed signals. Yesterday the US markets SPX closed with losses of 0.4%, Nasdaq with a loss of 1.48%. Prior to all these happening i had written in the article yesterday that if US trades lower there is every possibility that we end the day red on 28th. We did end the day in RED - but i am not at all happy, as i was expecting cuts of more than 1% on Nifty50, 2% on bank nifty and a bigger fall on NiftyIT. --- Of the bank nifty components: HDFC bk and ICICI bank had a similar chart pattern and both ending in red. SBI's chart pattern was looking bullish but the last 30mts brought it below the flat line. AXIS bank has something fishy, the cuts in the last 45mts were brutal with heavy volumes. Kotak had one special candle at 13.45 with high volumes but probably this was sold into in the last 45mts IndusInd held its ground and ended the day in green. --- 15mts vs 1hr could be a lower high formation if i got it right. Monthly expiry coming up tomorrow and much fierce US market trading days ahead. Low volumes may spike the spreads wider creating sharper moves but with little meaning.
NSE:BANKNIFTYShort
by viswaram
Banknifty spot chart Analysis for 26.12.2022Banknifty standing just below a strong resistance zone of 41733 to 41887. if banknifty crosses above 41887 then it may also cross 42041 and may reach to the level of 42191 between 42191 to 42349 is also an extremely strong resistance zone . If Bank Nifty crosses over 42349 then it may reach 42508. if banknifty moves down below 41579 then it may also cross 41416 and may reach to the level of 41256. if banknifty crosses below 41256 then it may reach to the level of 41062. If banknifty crosses down 41062 then it take bounce back from bounce back zone. it is highly unlikely that banknifty will cross 42508 tomorrow and reach higher levels.
NSE:BANKNIFTY
by stoxway
Banknifty spot chart Analysis for 22.12.2022Banknifty standing just below a strong resistance of 42671. if banknifty crosses above 42671 then it may also cross 42814 and may reach to the level of 42966. between 42966 to 43113 is also an extremely strong resistance zone . If Bank Nifty crosses over 43113 then it may also cross 43266 and may reach to the level of 43418. if banknifty moves down below where it left off then it may also cross 42508 and may reach to the level of 42349. if banknifty crosses below 42349 then it may also cross 42191 and may reach to the level of 42041. If banknifty crosses down 42041 then it take bounce back from bounce back zone. it is highly unlikely that banknifty will cross 43418 tomorrow and reach higher levels.
NSE:BANKNIFTY
by stoxway
FASP Levels for BankNifty 21/12/22The FASP for Bank Nifty is listed for 21-12-2022. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement, Fibonacci Extension, Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: Only valid for the intraday mentioned above. How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support, Purple is either strong support or resistance and blue is regular resistance. Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTYLong
by SathishChandrasekaran
Banknifty spot chart Analysis for 19.12.2022Banknifty standing below a strong resistance zone of 43266 to 43418. if banknifty crosses above 43418 then it may also cross 43571 and may reach to the level of 43713. between 43713 to 43876 is also an extremely strong resistance zone . If Bank Nifty crosses over 43876 then it may also cross 44034 and may reach to the level of 44187. if banknifty crosses down below 43113 then it may also cross 42966 and may reach to the level of 42814. if banknifty crosses below 42814 then it may also cross 42671 and may reach to the level of 42508. If banknifty crosses down 42508 then it take bounce back from bounce back zone. it is highly unlikely that banknifty will cross 44034 tomorrow and reach higher levels.
NSE:BANKNIFTY
by stoxway
Banknifty spot chart Analysis for 13.12.2022Banknifty standing just below a strong resistance zone of 43713 to 43876. if banknifty crosses above 43876 then it may also cross 44034 and may reach to the level of 44187. between 44187 to 44323 is also an extremely strong resistance zone . If Bank Nifty crosses over 44323 then it may also cross 44481 and may reach to the level of 44644. if banknifty moves down below where it left off then it may also cross 43571 and may reach to the level of 43418. if banknifty crosses below 43418 then it may also cross 43226 and may reach to the level of 43113. If banknifty crosses down 43113 then it take bounce back from bounce back zone. it is highly unlikely that banknifty will cross 44481 tomorrow and reach higher levels.
NSE:BANKNIFTY
by stoxway
Banknifty spot chart Analysis for 01.12.2022Banknifty standing below a strong resistance zone of 43266 to 43418. if banknifty crosses above 43418 then it may also cross 43571 and may reach to the level of 43713. between 43713 to 43876 is also an extremely strong resistance zone . If Bank Nifty crosses over 43876 then it may also cross 44034 and may reach to the level of 44187. if banknifty crosses down below 43113 then it may also cross 42966 and may reach to the level of 42814. if banknifty crosses below 42814 then it may also cross 42671 and may reach to the level of 42508. If banknifty crosses down 42508 then it take bounce back from bounce back zone. it is highly unlikely that banknifty will cross 44034 tomorrow and reach higher levels.
NSE:BANKNIFTY
by stoxway
PostMortem on BankNifty Today & Analysis of 29 NOV 2022 Looking at the price action i had given a sell short call yesterday - read here I had to literally change the view looking at just the first candle. A mega green 5mts candle that took bank nifty 172+ points & above the swing high of yesterday. The rally did not stop until 11.05 creating a steady buying momentum. From 11.05 to close of day it was a slow fall back to where it all started. Final close just 0.08% above yesterday's close. In the gradual decline there are 2 candles that stands out, one at 14.20 and 14.35 which led bank nifty to fall below the swing high of yesterday. Now we have 2 contradicting signals - a breakout bullish signal in the forenoon session and a gradual bearish signal in the afternoon session. Which do we consider - not quite sure. Remember yesterday we had discussed the massive amounts of call writing especially for 43000, 44000, 45000 & 48000 CE. The pattern is quite similar today also. Approx 25 to 30% of options trading volume came after 15.00 today. Such intensity of call writings happens only when the call writers are confident that the markets will not move higher. I am a strong believer of this leading indicator and continue to be cautiously bearish till we see the call writing vs put writing ratio normalizes. --- Of the bank nifty components HDFC bank started the day strongly, made a peak and then started falling in the afternoon session. Final close was flattish but the pattern showed bearishness ICICI Bank showed intense strength, kept climbing and then showed no signs of reversing even when other banks started falling afternoon. Today's chart pattern looks flattish SBI had a gradual rise and then a regular fall in afternoon - final close flattish AXIS started the day strong, but the fall after 10.25 showed negativity. Although it went underwater only after 15.15 - the chart pattern shows negativity Kotak bank also closed flat but the chart pattern was quite confusing. A gradual fall to start the day, the a quick rise to swing high and then a quick fall to go back to flat line. IndusInd bank showed gradual bearishness. --- 15mts TF shows a top formation in place. If we have a down day tomorrow we can confirm it. 1hr TF shows either an interim double top or a consolidation move - will need to wait for more clarity. ---
NSE:BANKNIFTYShort
by viswaram
Banknifty spot chart Analysis for 28.11.2022Banknifty standing just above a strong support of 42966. if banknifty crosses above 43113 then it may also cross 43266 and may reach to the level of 43418. between 43266 to 43418 is also an extremely strong resistance zone . If Bank Nifty crosses over 43418 then it may also cross 43571 and may reach to the level of 43713. if banknifty crosses down below 42966 then it may also cross 42814 and may reach to the level of 42671. if banknifty crosses below 42671 then it may also cross 42508 and may reach to the level of 42349. If banknifty crosses down 42349 then it take bounce back from bounce back zone. it is highly unlikely that banknifty will cross 43713 tomorrow and reach higher levels.
NSE:BANKNIFTY
by stoxway
PostMortem on BankNifty Today & Analysis of 25 NOV 2022We opened today without a handover from US as it was Thanks giving holiday for them on 24th Nov. Bank nifty opened at 43192 just in line with the last hour trend that started yesterday. And went to a new all time high of 43339 at 09.30. This 5mts candle had a long top wick just hinting of a possible short term top formation. What followed was exactly that - we had a first leg of drop from 09.30 to 11.55 and a 2nd leg of drop from 13.55 to 14.15. But the final closing was a decent one. So from a day's perspective we only had a drop of 0.21% but the intraday chart pattern showed a bit negativity. The moves on monday and tuesday will be crucial as December is usually the month wherein the FIIs book profits for the year. Volumes may drop on Dec that will increase the fluctuation in prices. --- Of the bank nifty components HDFC had a classic bearish pattern today - a sudden morning dip and then a narrow fall ICICI tried to hold on to the flat line till 10.30 but it broke down and then flattened by close SBI was in positive territory till 11.10 after that it too fell underwater, final closing did not see recovery AXIS stayed positive today and was the leading contributor to the index - never fell below the flat line today Kotak had the most bearish pattern for the day, 2 legs of drop today. IndusInd also stayed positive today and ended with gains of 0.98% --- 15mts vs 1hr - the intraday bearishness was not visible on the 15mts or 1hr chart as such. 15mts may create a top formation pattern if we have a fall on monday. 1hr is continuing to show bullish pattern. 1D TF shows bullishness, but today's red candle may indicate a warning for the days to come. 1W timeframe does not really show today's price action that much - as it stands the candle is strong green and we have 3 consistent green weekly candles. The low of this week's candle is the first support level for bank nifty. Also note that we are nearing the top of the decade channel. --- US markets were underperforming Indian markets for this year - there are 2 possibilities that could happen and both of them may not be good for Indian indices FIIs could start selling now, take back money to their mother market as they are starting to move higher Further worsening of global macros or war could force FIIs to sell off and move to cash FII selling will definitely weaken the rupee, further devaluing their returns. Indian indices will not fall if the domestic mutual funds and retail investors keep accumulating shares. But i am starting to think - arent the valuations of these companies simply unexplainably high??? ---
NSE:BANKNIFTYShort
by viswaram
PostMortem on BankNifty Today & Analysis of 24 NOV 2022 - ExpiryBank nifty broke out and made an all time high of 43163 today. The opening was at 42838 negating yesterday's fake price move from 15.00 to close. Notice how yesterday's rally continued with the yellow encircled region. Today's open and forenoon trade was in perfect alignment with the rally that started yesterday.  Since its a breakout rally - the momentum was gaining strength and the final 45mts of today's trade is proof of that. Before that BN was in a range a narrow one and the monthly expiry was nothing unusual. But the last 45mts gave some wings to the premium eventhough it was the closing minutes. 43000 CE went from 9.35 to 89.75 between 14.47 and close today, closed in the money with a final value of 76. The reverse is also true, 43000 PE went from 111.9 to 0.05 between 14.47 to close. When the VIX is near the lows ~ 13.47, implied volatility is low - the best option is to go with option buying (obviously we need a trend to make a killing). Personally i wish to stay away from directional trades right now, prefer to execute arbitrage trades. The Euphoria in the market is now at all time highs - just as the markets are. So there could be fake moves or wild swings with no accompanying fundamental reasons. All time highs are not good levels to enter with a purchase intent, because if the market reverses direction - you may end up holding something for years to come. --- Of the Bank nifty components, a common pattern is the last 45mts rally among HDFCBank, SBI, Axis and Kotak. HDFC Bk had a nice start and then it built on the gains, strong buying momentum towards the end ICICI had a relatively smoother slope, no pullback or consolidation intraday - just buying SBI started strong, went underwater and then the last 45mts ensured it ended the day with gains. AXIS had a similar chart like SBI, but the last 45mts gave it extra wings - the slope was approx. 80 to 85 degree Kotak was gradually fading underwater - but the last 45mts ensured it closes in the flattish territory. Indus Ind had a falling graph after a positive open. Took support at the Prev. close and final close was in positive territory. The final 45mts rally did have no effect on IndusInd. --- SPX vs Bank nifty - the spread is now at +6.32% vs 26.99%. US market will be closed today so we will not have any special macro related moves today. --- 15mts vs 1hr - Notice the clear breakout in the 15mts TF. Whereas its depicted as strong momentum in 1hr TF.
NSE:BANKNIFTY
by viswaram
1
Banknifty Analysis Intraday or Swing TradingBanknifty Is not moving as much beacuse of India Vix - below 15 were option selling is highy recomended. there will no move in market after 2:30. might be some move. taking small target for today and needs to be strict with stoploss. hence there will be stoploss hunting as on Spot Price chart there are movement, but not in Banknifty Chart. So highly Recommended option selling is best for today. Slow Market. Entry taken if 5 min candle close above in our Entry point direction.
NSE:BANKNIFTYShort
by ashray1
Banknifty spot chart Analysis for 22.11.2022Banknifty standing just below a strong resistance of 42349. if banknifty crosses above 42349 then it may reach 42508 . between 42508 to 42671 is also an extremely strong resistance zone . If Bank Nifty crosses over 42671 then it may also cross 42814 and may reach to the level of 42966. if banknifty moves down below where it left off then it may also cross 42191 and may reach to the level of 42041. if banknifty crosses below 42041 then it may also cross 41887 and may reach to the level of 41733. If banknifty crosses down 41733 then it take bounce back from bounce back zone. it is highly unlikely that banknifty will cross 43113 tomorrow and reach higher levels.
NSE:BANKNIFTY
by stoxway
Banknifty spot chart Analysis for 21.11.2022Banknifty standing just below a strong resistance zone of 42508 to 42671. if banknifty crosses above 42671 then it may also cross 42814 and may reach to the level of 42966. between 42966 to 43113 is also an extremely strong resistance zone . If Bank Nifty crosses over 43113 then it may reach 43266. if banknifty moves down below 42349 then it may take support on 42191. if banknifty crosses below 42199 then it may also cross 42041 and may reach to the level of 41887. If banknifty crosses down 41887 then it take bounce back from bounce back zone. it is highly unlikely that banknifty will cross 42966 tomorrow and reach higher levels.
NSE:BANKNIFTY
by stoxway
Banknifty spot chart Analysis for 15.11.2022Banknifty standing just below a strong resistance zone of 42191 to 42349. if banknifty crosses above 42349 then it may also cross 42508 and may reach to the level of 42671. between 42671 to 42814 is also an extremely strong resistance zone . If Bank Nifty crosses over 42814 then it may reach 42966. if banknifty moves down below 42041 then it may take support on 41887. if banknifty crosses below 41887 then it may also cross 41733 and may reach to the level of 41579. If banknifty crosses down 41579 then it take bounce back from bounce back zone. it is highly unlikely that banknifty will cross 42966 tomorrow and reach higher levels.
NSE:BANKNIFTY
by stoxway
Banknifty spot chart Analysis for 14.11.2022Banknifty standing just below a strong resistance zone of 42191 to 42349. if banknifty crosses above 42349 then it may also cross 42508 and may reach to the level of 42671. between 42671 to 42814 is also an extremely strong resistance zone . If Bank Nifty crosses over 42814 then it may reach 42966. if banknifty moves down below 42041 then it may take support on 41887. if banknifty crosses below 41887 then it may also cross 41733 and may reach to the level of 41579. If banknifty crosses down 41579 then it take bounce back from bounce back zone. it is highly unlikely that banknifty will cross 42966 tomorrow and reach higher levels.
NSE:BANKNIFTY
by stoxway
3
Banknifty support and resistance levels for the month of Nov2022Resistance level: 42403 Support level: 36572 Neutral Zone: 38516-40459 If candles are consolidating in neutral zone, wait for the breakout either one side. If candles are break or sustaining above Neutral zone, we can expect upside move and the targets will be resistance level , Target1 and target2 as mentioned in chart If candles are break or sustaining below Neutral zone, we can expect downside move and the targets will be support level , Target1 and target2 as mentioned in chart Please let me know in comment section if you have any queries and like the idea If you agree with the analysis. Disclaimer: Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research
NSE:BANKNIFTY
by AATHIE