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Bankniftytradesetup

Bank Nifty Analysis: Head and Shoulders Pattern in the Making?NSE:BANKNIFTY closed relatively flat today amidst some market volatility. However, the pattern forming on the chart does not look good. We are potentially witnessing the development of a Head and Shoulders pattern, which, if completed, could signal a downward move. If this pattern plays out, we may see the index decline towards the 49,640 level. On the other hand, if Bank Nifty fails to form the pattern and continues its upward trajectory, we can see a significant resistance around the 51,900 level. Important Levels: Support - 49640 Resistance - 51900 Traders, if you liked this analysis or have your own insights, please share your thoughts in the comments. I would be glad to hear from you! 👩‍💻 Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Please conduct your own research or consult a financial advisor before making any trading decisions.
NSE:BANKNIFTY
by Stable_Logic
BAJFINANCE Support and Resistance Hello Everyone 👋 Pivot Points: Classic Pivot Points: Resistance 1 (R1): ₹6,650.37 Resistance 2 (R2): ₹6,684.38 Resistance 3 (R3): ₹6,712.77 Pivot Point: ₹6,621.98 Support 1 (S1): ₹6,587.97 Support 2 (S2): ₹6,559.58 Support 3 (S3): ₹6,525.57 Fibonacci Pivot Points: R1: ₹6,645.82 R2: ₹6,660.55 R3: ₹6,684.38 Pivot Point: ₹6,621.98 S1: ₹6,598.15 S2: ₹6,583.42 S3: ₹6,559.58 Camarilla Pivot Points: R1: ₹6,622.07 R2: ₹6,627.79 R3: ₹6,633.51 Pivot Point: ₹6,621.98 S1: ₹6,610.63 S2: ₹6,604.91 S3: ₹6,599.19 Relative Strength Index (RSI): The RSI (14-day period) helps identify overbought or oversold conditions in the stock. Interpretation: RSI below 25: Oversold RSI between 25 and 45: Bearish RSI between 45 and 55: Neutral RSI between 55 and 75: Bullish RSI above 75: Overbought
NSE:BAJFINANCELong
by SkyTradingZone
#Banknifty directions and levels for August 21st.Current View > That,The market may open with a slight gap-down start, according to the SGX Nifty indication. So, after that gap-down, if the market finds support around the immediate support level, it may consolidate between the previous day's high and the immediate support level. > But, Even if it consolidates, structurally, it will continue the rally once it breaks the previous day's high. In this case, if it breaks the previous high without consolidation (like yesterday’s movement), the same bullish trend may continue further. Alternate View > The alternate scenario suggests that if the gap-down sustains and the market breaks the immediate support level solidly, then the correction could continue, with some minor bounce-backs. These are the two possible scenarios for today's session.
NSE:BANKNIFTY
by Manickamtraders
11
BankNifty Intraday Support & Resistance Levels for 21.08.2024On Tuesday, BankNifty surpassed the 50750 resistance level, reaching a high of 51025 before closing at 50803.15, gaining 434 points. Notably, this is the first time since 2nd August that BankNifty has closed above 50800. The weekly trend (50 SMA) remains positive, and the daily trend (50 SMA) has shifted from negative to sideways. Support Levels: Near Demand/Support Zone (30m): 50283 - 50423 Far Demand/Support Zone (30m): 49806 - 50017 Far Support Level: 49660 (Double bottom on the daily chart) Far Support (FIBO 61.8% Level): 48858 Resistance Levels: Near Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPal
Bank Nifty Analysis: A Critical Juncture for Potential Gains The Bank Nifty is currently at a decisive crossroads, presenting a compelling opportunity for traders. The index has formed a double bottom pattern and appears to be breaking out of its channel, which typically signals a bullish reversal and the potential for significant upward movement. This setup suggests the possibility of substantial gains if the breakout proves strong and sustained. However, caution is warranted. Although the breakout looks promising, it lacks strong confirmation at this stage. There is a risk that the index could fall back into the channel, potentially continuing its previous downtrend. This scenario could offer an opportunity for traders to short the market or adjust their positions accordingly. All critical support and resistance levels have been marked on the chart, providing valuable insights for trading decisions. For those interested in leveraging this volatile period, I will be sharing the important supply and demand levels for tomorrow at market open in the morning. Monitoring these levels closely will be essential for navigating the Bank Nifty’s movements and optimizing trading strategies. Disclaimer: This analysis is provided for informational purposes only and does not constitute financial advice. Trading in financial markets involves risk and may not be suitable for all investors. Please conduct your own research or consult with a financial advisor before making any trading decisions.
NSE:BANKNIFTY
by Stable_Logic
BANKNIFTY Intraday Trade Setup For 21 Aug 2024BANKNIFTY Intraday Trade Setup For 21 Aug 2024 Bullish-Above 51050 Invalid-Below 50940 T- 51650 Bearish-Below 50670 Invalid-Above 50780 T- 50100 BANKNIFTY has closed on a bullish note with 0.86% gain today. It has closed exactly at tip of the daily TF range of 51800 and 49700. Now above today's high - 51050 a range shift will happen and move of atleast 1200 points can be triggered. Below 50670 index may result in false breakout of daily TF bullish breakout. In the weekend we have already discussed there index recent trend was bearish so we have to be alert for any of fakeout and trade that. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 51050 then we will long for the target of 51650. For selling we need a 15 Min candle close below 50670. T- 50100. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
#Banknifty directions and levels for August 20th.In the previous session, Banknifty closed with consolidation, so the previous sentiment may continue today as well. However, I will explain it simply. First, let's look at an alternate variation. Alternate Variation: The previous pullback was strong, that indicating a bullish trend. So, if the market breaks the previous high solidly or after some consolidation, we can expect the rally to continue. This is our alternate view. In this case, if the breakout has a solid structure, then the upcoming rally could be a long one, structurally forming a "flag pattern." On the other hand, if the breakout occurs with low volume, meaning if it breaks with some grinding, the upcoming rally could be smaller. Current View: The current view is similar to what we saw in the last session. If the market finds support at the immediate support level, it may continue to consolidate, and if this happens, it could break upward. But if it breaks the immediate support level strongly, then we can expect the correction to continue.
NSE:BANKNIFTY
by Manickamtraders
5
BankNifty Intraday Support & Resistance Levels for 20.08.2024On Friday, BankNifty opened with a gap up but failed to cross the near resistance at 50750, dropping over 440 points from the day’s high before closing at 50368.35, losing 148 points from the previous close. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is negative. Support and resistance zones remain unchanged from the last post. Support Levels: Near Demand/Support Zone (30m): 49806 - 50017 Far Support Level: 49660 (Double bottom on Daily Chart) Far Support: 48858 (61.8% FIBO Retracement of the rally from 46078) Resistance Levels: Near Resistance Level: 50750 Far Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609
NSE:BANKNIFTY
by PriteshPal
#Banknifty directions and levels for August 19th.if the initial market declines or faces rejection around the immediate resistance level (minor supply zone), it may take a retracement of 23% to 38%. After that, if it finds support, the bullish bias is likely to continue. However, if it breaks the 38% level, it may fall further to the 61% level on the downside. Alternatively, if the market sustains or breaks the minor supply zone, then the rally will likely continue to the 50,830 to 50,984 level,
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 19.08.2024On Friday, BankNifty opened with a gap up and sustained its bullish momentum throughout the day, closing at 50516.90 with a gain of 789 points. The nearest resistance is at 50750; a breakout with volume above this level could potentially lead to a rally towards the 125m Supply zone at 51310, which also aligns with the 61.8% Fibonacci retracement level. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is negative. Support Levels: Near Demand/Support Zone (30m): 49806 - 50017 Far Support Level: 49660 (Double bottom on Daily Chart) Far Support Level: 48858 (61.8% FIBO Retracement level of the rally from 46078) Resistance Levels: Near Resistance Level: 50750 Far Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609
NSE:BANKNIFTY
by PriteshPal
Short Term Trading Opportunity in SPIC for > 10% upsideHi, NSE:SPIC has given a Bullish Flag Breakout on Daily charts with very good volume. MACD is also on the bullish side on Daily and Monthly time frames. RSI is also on the bullish side on daily, weekly and monthly time frames. In the current market scenario, I am expecting that the bullish momentum will continue. Complete price projection like entry, stop loss and targets mentioned on the charts for educational purpose. Don't Forget to Follow me to get all the updates. Please share your feedback or any queries on the study. Disclaimer: Please consult your financial advisor before making any investment decision.
NSE:SPICLong
by raigvivek
1