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Bankniftytradeidea

BANKNIFTY AT NO TRADING ZONEBanknifty currently trading at NO TRADING ZONE, the levels being 34900-35150, it has been an area of confusion since last month ! Break on either side with proper candle close candle would define the next upcoming trade which could be potentially be breaking above! Even If breaks below don’t short aggressively as MAIN TREND being bullish and every dip now is a buying opportunity On break of 35150 with proper candle close can give rise to 35400, 35600 respectively If any chance breaks below ! Wait for retests for confirmation of breakdown else it might result to many fake breakdowns today MUST WATCH
NSE:BANKNIFTY
by Wealthcam
BANKNIFTY CHART ANALYSED FOR UPCOMING TRADING SESSIONS Banknifty under perfect INVERTED HEAD AND SHOULDERS pattern identified which shows bullish continuation but not at one go! , Since the momentum done was huge on Friday, there is probable chances of market being sideways for upcoming couple of days and continue its bullishness For better confirmation make sure BANKNIFTY sustains itself above 35600 which had been an area of confusion As per last discussion we already have BULLISH POSITION running as of now! Keep trailing your stoplosses on the higher lows that are being made
NSE:BANKNIFTY
by Wealthcam
BANKNIFTY ABSORBED THE WORLD MARKET PRESSURE! NOW WHAT?? Beautiful REVERSAL was seen yesterday from 34000 levels which was pretty much expected as yesterday’s low was well respected and not broken, the reason behind the reversal was that as you go back around 21st of May you can see 34000 level has been acting a good RESISTANCE, and it’s very break gave spontaneous 400-600 point move in one go ! Now what ? It is expected that BANKNIFTY will take a halt after this huge move which will also make today as PREMIUM EATING DAY so be cautious trading on index options On the other hand if given RESISTANCES are broken it is again expected to carry on its bull run but wait for the candle close confirmation
NSE:BANKNIFTY
by Wealthcam
BANKNIFTY WILL CONTINUE ITS DOWNTREND ??As of now BANKNIFTY seems to be under international pressure wherein in these scenario not much of technicals work but in a long run BANKNIFTY and NIFTY is still bullish! The reason being me saying BULLISH because every time the market tries making new lows, BULLS comes up and closes strong and the closing price of market is what decides the sentiments of market ! Level to look at for tomorrow at are SUPPORT 1 - 32300 which acted as a NECKLINE for W pattern and reversed from that very level SUPPORT 2 - the multiple rejections and a psychological level makes it very important Could be a volatile day driven by world market pressure, trade cautiously
NSE:BANKNIFTY
by Wealthcam
Bank Nifty Trade Plan for 11 June 2021Bank Nifty Trade Plan for 11 June 2021 How chart looks on HTF : Bank Nifty formed a good bullish candle on daily time frame and managed to close above 35100 levels Expected Opening : Expecting a flattish to small gap up opening in Bank Nifty. Today's Trade Setup : Bank Nifty looks bullish and managed to close above next day CPR. If flat or gap up opening, Watch out for break out above 35163 and if support confirmed do go long with 35050 as stop loss and sit for target of 35400 levels. If gap down or markets finds 35000 as resistance then we can expect it to test 35800 again. But would prefer going short if 35900 is taken on the lower side below the weekly support.
NSE:BANKNIFTY
by RaviChandran_Rajkumar