FASP levels for Bank Nifty 10/03/2023The FASP for BankNifty is listed for 10-03-2023. 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: 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.
Bankniftytomorrow
#Banknifty"Trading day, March 9th: The global market indicates a neutral start. The market nature is moderately bullish. It may start slightly negative, and if the market takes a pullback, then we can expect a pullback continuation (sub-wave 5th). On the other hand, if the initial market declines, that is a sign of a range market to correction, and it should break the fib level 38%."
#Banknifty"Trading day, March 8th: The global market is indicating a negative start. Structurally, the market's nature is moderately bullish. It may start with a gap-down, and after that, if the market breaks the 38% Fib level, that's a sign of a correction. The correction will reach a minimum of 50% to 61% Fib levels. On the other hand, if the market rejects around 38%, then we can expect a range-bound market to rally continuation."
#Banknifty"Trading day, March 6th: SGX Nifty indicates a positive start, and the market nature is bullish. It may start with a gap-up. If the market rejects around immediate resistance zones, then we can expect a minor correction that shouldn't break the previous swing high. On the other hand, if the market declines initially, we can expect a correction that would break the previous swing high."
FASP levels for Bank Nifty 06/03/2023The FASP for BankNifty is listed for 06-03-2023 . 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: 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.
#Banknifty"Trading day, March 2nd: The global market is indicating a negative start. Its structure is moderately bullish, but it may open with a gap-down. If the initial market experiences a pullback of around 38%, we can expect a continuation of the pullback with minor consolidation. On the other hand, if the initial market experiences a sharp decline, we can expect a correctional wave that may reach a minimum of 61% to 78%."
FASP levels for Bank Nifty 02/03/2023The FASP for BankNifty is listed for 02-03-2023 . 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: 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.
PostMortem on BankNifty Today & Analysis of 28 FEB 2023Today was relatively flattish trading day except may be the period 13.50 to 14.10 when we had a minor scare !
There are 2 major news, one acting on the bull side & the other bearish for NSE:BANKNIFTY tomorrow !
HDFC & NSE:HDFCBANK merger news
2. India's GDP rises to 4.4% vs 4.6% estimates
India's GDP Growth Slows To 4.4% In Q3; Pegged At 7% For Full Year
So the trade today has set up a perfect stage for tomorrow, i may not know the direction but i seriously think we might be able to get a trend.
Today's open was inline at 40302 and stayed above the support line, infact we had a good range bound trade for 4hr 40mts. This also reflected quite well with the FinNifty as well & the expiry trading would have worked out quite well for the latter.
NSE:BANKNIFTY was not at all looking in the mood to rally or break today - it seemed like there was so strong momentum in either direction. But by 13.26 i almost thought we will have a good fall & posted the same in bank nifty minds in TradingView
"i am ready if NSE:BANKNIFTY is planning to fall"
The fall lasted only 231pts and briefly broke the support line (not a conclusive break still), before recouping the losses & returning to where it started.
During the close i felt there was a huge volume traded on NSE:ICICIBANK NSE:SBIN NSE:AXISBANK NSE:KOTAKBANK . Maybe its related with the month end closing or rebalancing - but the spike in volumes seemed like a positional build up or unwinding
for me.
The volume is one of the reason i feel we could expect a support or resistance break tomorrow.
Regarding the options premium - we had a good decay today & lack of volatility would have killed the spirits of the option buyers & debit spread takers. Straddlers would have enjoyed trading today !
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15mts TF shows a range bound trade (not perfect range, ideally range should be within the support & resistance levels) for 6 days 4hrs now. Those who had positions from 16th feb & went through the fall would be feeling quite uneasy by now.
I was hoping for the retest of 39742 lows in this series itself, since there are 2 more days to go i will keep the hopes alive.
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1hr TF shows a possibility of a double bottom (W pattern), but for this pattern to work the trades breakout. If we have further consolidation then this pattern will not play out well.
I havent changed my bearish view for the 1hr TF yet, i still need to see close above the resistance levels to change by opinion. And clearly it doesnt pay to have an opinion - its how we react when markets prove us wrong !
to view the 4 charts in today's discussion visit viswaram. com
FASP levels for Bank Nifty 01/03/2023The FASP for Nifty is listed for 01-03-2023. 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: 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.
Banknifty - View & Intraday Levels for - 01 Mar 2023Banknifty View and Support & Resistance Levels for Tomorrow..
Expectation : Bearish with Negative Sentiment (Strong Down trend).
Banknifty is holding good when Nifty was falling today, but it is at crucial support level. If Banknifty closes below current day low we can expect more down side move along with Nifty.
Buyers and Sellers Zones - When price breaks the zone, Buyers zone will become Resistance and Sellers zone will become Support.
Refer the chart for detailed Intraday Support and Resistance levels.
Happy Trading!!
#Banknifty"The global market indicates a neutral start. The market's nature is structurally moderately bearish, so it may start off neutral. After that, if the market experiences a sharp decline, we can expect a correctional wave. On the other hand, if the initial market experiences a pullback, then we can expect pullback continuation with minor consolidation."
PostMortem on BankNifty Today & Analysis of 27 FEB 2023Surprising price action by NSE:BANKNIFTY today, especially the last 40mts when the bounce from the support took it to the HOD.
The preopen rates today was not indicating any hint of green, still NSE:BANKNIFTY hit the resistance in the 4th candle after the gap down open. The first candle it fell to the support level of 39742 & the bounce was good enough!
39742 comes to the rescue again, but today's support is quite something special. NiftyIT and NSE:NIFTY were bleeding today. IT was almost 2.7% down by 10.15, Nifty was down almost 1% - same time NSE:BANKNIFTY was only 0.12% lower.
By 11.15 NSE:BANKNIFTY had hit the resistance again, this time a strong hourly green candle. If we split down in the 5mts TF we had 3 amazing swings today.
The second swing of 1.09% ~ 432pts from 10.15 to 11.50 and then a final 40mts rally of 0.56% ~ 223pts that ensured NSE:BANKNIFTY is closing with an overall gains of 1% whereas NSE:NIFTY was still down 0.42% & CNXIT down 1.95%.
I really dont know what made NSE:BANKNIFTY outperform the other 2 index today - not remembering reading any change in fundamentals or news events for this surge.
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If we look at the 15mts TF we can see a minor breakout from a 5 day 4 hour session. If we need further bullish momentum we should see tomorrow's trading zone to be well above this range depicted.
If we fall back to the range-zone, what just happened today will turn out to be another fake move.
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1hr TF almost showing a W like pattern (double bottom) right at the support zone. For this pattern to play out as per the text book, further trade has to happen above 40400 levels.
Failure to take out the next resistance will look very promising for the bears as they still have the upper hand till 41600 levels.
We had a similar W like pattern on 30th Jan - 02 Feb period - but that did not playout mainly because bank nifty was unable to breakout.
to see all 4 charts in today's report visit viswaram. com
#Banknifty"The global market indicates a neutral to negative start. The market nature is moderately bearish, and it may start with a gap-down. After that, if the market consolidates around the swing low, we expect a harmonic demand zone (HDZ). However, if the market rejects around the swing low, we expect a pullback that will reach a minimum of 23 to 38% fib level. On the other hand, if the initial market take pullback, then we expect a range-bound market as per the structure."
#Banknifty Trading day 24/2/23 "The global market indicates a positive start. The market's nature is moderately bullish, and it may start with a gap-up. After that, if the market is rejected around the major resistance, we can expect a correction. Alternatively, if the market consolidates that zone, it's a sign of pullback continuation. On the other hand, if the initial market declines, we can expect a range-bound to correction."
FASP levels for Bank Nifty 24/02/2023The FASP for Bank Nifty is listed for 24-02-2023. 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: 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.
Banknifty - View & Intraday Levels for - 24 Feb 2023Banknifty shows some strength when comparing with Nifty because it tested the major support zone. However BEARISH move expected again up to 39500 level is where we have Strong support.
Tomorrow we can take SELL entry @ 40150 Supply zone for lower targets. If any gap down open SELL can be initiated at 39917 or if sustains below 39700.
BULLISH only if sustains above 40175.
Banknifty - View & Intraday Levels for - 23 Feb 2023 (Expiry)Banknifty - BEARISH Bias but Panic selling happened - Mostly Long unwinding move due to Monthly expiry
Tomorrow being expiry day sideways/volatile move is expected, if sustains above 40141 - 40343 will be tested and if breaks 40500 could be possible.
Incase of weakness and trades below 39900 - 39700 and lower targets are possible
FASP levels for Bank Nifty 21/02/2023The FASP for Bank Nifty is listed for 21-02-2023. 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: 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.
Banknifty spot chart Analysis for 20.02.2023Banknifty standing just below a strong resistance zone of 41062 to 41256.
if banknifty crosses above 41256 then it may also cross above 41421 and may reach to the level of 41579.
between 41579 to 41733 is also an extremely strong resistance zone .
If Bank Nifty crosses over 41733 then it may reach to the level of 41887.
if banknifty crosses down below 41062 then it may also cross 40878 and may reach to the level of 40717.
if banknifty crosses down below 40717 then it may also cross 40564 and will reach to the level of 40442.
If banknifty crosses down 40442 then it take bounce back from bounce back zone.
it is highly unlikely that banknifty will cross 42041 tomorrow and reach higher levels.
BANKNIFTY CHART ANALYSISBank Nifty Chart Analysis at 1hr Time Frame where banknifty Stuck in Upper side of rectangle chart Patter.. and try to go up and got Rejected Soo Many Times…
Heavy Fall From Upside Which is Happens Two Times Whenever it try to Go Up… and also make small Support which also got broken after HeavyFall From Major Resistance.
We can see tommorow at levels to BankNifty
#BankNifty #BankNftyTommorow
PostMortem on BankNifty Today & Analysis of 17 FEB 2023So today's price action confirms the move that we had yesterday was not fake. How many traders & investors would have been trapped on the long side when the 41629 resistance broke out?
The prevailing trend was bearish, but when an important resistance gave away, it would have prompted lot of buyers into action. And once they deployed their funds we got the reversal. The dip could even be short term, may be it will negate in the coming week itself - but imagine the amount of money you would have lost over the last 2 days?
Today's move in NSE:BANKNIFTY was nothing dramatic, agree that many would call it unexpected. But for analysts who have been following the series of events after the meltdown in Adani stocks - this should have been a not so difficult picking.
Open was gap down at 41514 and the first 2 candles were in red - already doing the damage in opening 10mts. This set the trend rolling, we had a single leg of consistent fall of 1.57% ~ 652pts till 13.40.
The selling stopped near the 1st support level of 40868 and we also had a brief pull back of 0.65% ~ 267pts from 13.45 to 15.10.
This pull back ensured that the total fall of NSE:BANKNIFTY was only 1.2% ~ 499pts which is not so bad either. But there are some interesting things that happened
The spike in volume of CE options traded, showing intense writing. The volumes spiked just after NSE:BANKNIFTY made the pull back ensuring the option sellers got good premiums too.
The drop in options premium on the PE side after 14.50 aiding the view that the dip may not have further deep legs. If today's fall was that dramatic then the PE options should have retained their higher premiums.
It can also be true that the premiums could spike on monday or tuesday if we have continuation pattern. And most of you would have seen the % spikes PE premiums hit.
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15mts TF has negated the small bullish view that it had on 15th. From there we had 1 support break & retest of the 2nd support level.
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1hr TF may be showing the range widening possibilities in the coming weeks. This could be because the selling came in only when NSE:BANKNIFTY went over the resistance - a common phenomenon associated when sellers are in control.
#Banknifty"The global market indicates a negative start, with a moderately bearish trend. It may start with a gap down. After that, we expect a correction that may reach HDZ. If the market experiences a pullback around HDZ, we expect a minimum pullback of 23 to 38%. On the other hand, if the initial market rejects the immediate support zone, we will expect the previous day's high."