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#Banknifty directions and levels for July 29th.Bank Nifty: Bank Nifty also saw a strong pullback in the last trading session. If the gap-up sustains, then the pullback will likely continue. My expectation is that, as per the structure, we can't expect much of a retrace even if it rejects either of the resistance levels. This means that if the gap-up sustains, it will continue the rally with some little consolidation. This is our first variation. Alternatively, if the gap-up doesn't sustain or if it rejects either of the resistances sharply, we can expect a 61 to 78% correction in the minor swing, but it should break the 38% Fibonacci level. If it doesn't break it, then it will maintain the bullish bias.
NSE:BANKNIFTY
by Manickamtraders
6
BankNifty Intraday Support & Resistance Levels for 29.07.2024On Friday, BankNifty opened gap down but recovered over 950 points from the bottom, closing near the 15m supply zone mentioned in the last post at 51295.95. The weekly trend (50 SMA) remains positive, but the daily trend (50 SMA) is sideways. Support Levels: Near Demand/Support Zone (15m): 51023 - 51082 Near Demand/Support Zone (30m): 50851 - 50951 Major Demand/Support Zone (Weekly): 49530 - 50253 Resistance Levels: Near Supply/Resistance Zone (15m): 51317 - 51462 (already tested on Friday) Major Supply/Resistance Zone (Daily): 51874 - 52587
NSE:BANKNIFTY
by PriteshPal
#Banknifty August 1st week directions and levels.Bank Nifty Bank Nifty's structure is a bit different from Nifty. It hasn’t pulled back as much, but the trend is still positive. Bank Nifty is currently in the 5th wave, indicating a bullish move. However, since the 5th wave is usually slower, we expect a less aggressive rally, possibly at a 40 to 50-degree angle. We’re targeting 52,674 for this rally. This is our main view. Alternatively, if the market faces resistance at the 50 or 61% levels, it may correct further. Initially, the market might move within a range, and a break of this range could lead to more correction.
NSE:BANKNIFTY
by Manickamtraders
7
BANKNIFTY Intraday Trade Setup For 29 Jul 2024BANKNIFTY Intraday Trade Setup For 29 Jul 2024 Bullish-Above 51400 Invalid-Below 51290 T- 51950 Buy-From 50845 Invalid-Below 50735 T- 51300 BANKNIFTY has closed on a slight bearish note with 1.86% cut last week. On Friday there was buying from opening itself, it was Open=Low day. It has taken support from 50 EMA in daily TF. Now above 51400 this bounce can be extended at least towards 52K zone. Below 50350 in daily TF it will be bearish in short term. Best trade will be in bullish side tomorrow if we get a slight pullback before breakout of 51400. 50845 can be intra support. Coming to Monday's trade setup, if index opens opens flat and a 15 Min candle closes above 51400 then we will long for the target of 51950-52k 2nd buying can be done from 50845. T- 51300. 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 Analysis for Monday 15th July 2024BankNifty Analysis for Tomorrow 15th July 2024 As per our analysis for Bank Nifty, we are expecting these lower levels tomorrow, kindly check the charts on 15 min time frame and act accordingly. *Previous Close: 52278.90* Buyers can be active above Zero Line (Previous Closed): 52,278.90 Level = TGT 1 : 52482.30 | TGT 2 : 52719.35 | TGT 3: 52956.35 Sellers can be active below Zero Line (Previous Closed): 52,278.90 Level = TGT 1 : 52069.20 | TGT 2 : 51839.00 | TGT 3 : 51561.35 Few Points Needs to be remembered : - Chart Using "Heikin Ashi" - All the levels are based on 15 min chart only - These Analyzed levels should only be considered as Intraday Levels - The Predicted levels can be contra trade for sellers as well (That's why marked buy in the bottom and sell in the above side) *Disclaimer*: All the provided levels are for educational purpose only, please do your own analysis before doing any trade in the live market or consult your financial advisor before act. Follow Us for More Updates in Future
NSE:BANKNIFTYShort
by MarkitVUE
1
#BankNifty directions and levels for July 26th.**Bank Nifty:** >Bank Nifty has a bearish sentiment, but RSI doesn't support that much due to the huge pullbacks. So, if the gap-up doesn't sustain, we can expect a range market between 23% and the previous low. After that, if it breaks down, we can expect correction continuation. >Alternatively, if the gap-up sustains above the level of 23%, then we can expect a move to the 38% level. >But Even if it takes a pullback, structurally it could be the 4th wave. So, after that pullback, if it rejects around the 38% Fibonacci level, then we can expect a correction.
NSE:BANKNIFTY
by Manickamtraders
5
BankNifty Intraday Support & Resistance Levels for 25.07.2024On Wednesday, BankNifty took support at the 15m demand zone mentioned in the last post (linked in "Related Ideas" below) and bounced to 51512 before closing at 51317, losing 461 points. BankNifty broke the demand zone mentioned previously, and the nearest major support seen on the chart is at 50253, where there is a weekly support zone. The weekly trend (50 SMA) remains positive, but the daily trend (50 SMA) is now sideways. Support Levels: Major Demand/Support Zone (Weekly): 49530 - 50253 Resistance Levels: Near Supply/Resistance Zone (30m): 52559 - 52783 Far Supply/Resistance Zone (30m): 53064 - 53188 Major Supply/Resistance Zone (75m) for weekly trade: 52880 - 53187 Note: While writing this, GIFTNIFTY is showing 220+ points negative, indicating a potential gap down opening.
NSE:BANKNIFTY
by PriteshPal
Bank Nifty Short Trade with small SLWhy Shorting Bank Nifty? Initially we expected Bank Nifty to touch 53500 but wave 5th failed by 150 points. High made 53357. Bank Nifty is entered downtrend by breaking IChimoku TS KS in 1hour and price action levels. CMP: 52641 Entry: 52600 Stop Loss: 52985 Target: 51675 Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Please conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:BANKNIFTYShort
by WaveMoku
2
#Banknifty directions and levels for July 24th.Bank Nifty: Bank Nifty also has a range-bound structure, so the next movement is expected only if it breaks out of the range. Until then, it may continue within the current range. Due to the market closing within the range, precise levels are difficult to determine. However, if it breaks 52,502, it may continue the correction to a minimum of 51,325 to 51,186. Alternatively, if the gap-down doesn’t sustain and finds support around 51,502, then structurally it may continue within the range, with an expected upside to a minimum of 52,086 and up to the 61% Fibonacci level. Note: If the market opens with a gap-up and breaks the minor swing high, the rally will continue. The upside levels remain the same
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 24.07.2024On Tuesday, during a highly volatile budget session trading day, BankNifty opened gap up inside the 15m supply zone mentioned in the last post and fell 1200 points, making a day low of 51342.65. It re-entered the Daily Demand zone but did not break the bottom of the zone, closing inside with a 502-point drop at 51178.30. The weekly trend (50 SMA) remains positive, but the daily trend (50 SMA) is now sideways. Support Levels: Near Demand/Support Zone (Daily): 51138 - 51934 Minor Demand/Support Zone (15m): 50597 - 50825 Major Demand/Support Zone (Weekly): 49530 - 50253 Resistance Levels: Near Supply/Resistance Zone (30m): 52559 - 52783 Far Supply/Resistance Zone (30m): 53064 - 53188 Major Supply/Resistance Zone (75m) for weekly trade: 52880 - 53187
NSE:BANKNIFTY
by PriteshPal
#BUDGET2024 POV ON BANKNIFTY RECOVERY 24/07/2024BANKNIFTY Today will be opening with GUP-UP as I told if the market shows some unsustainability or opens with the GUP-UP market going downside. let's forget to get this talk the main point is that after the BUDGET2024 was published we had some short moves in the downside direction usually I tell you to take the trade with some patience but now today's market I think there is a trap for retail buyers by FII/DII the big players making short whereas retailers have bullish POV. After the recovery have a chance of some sort of sideways but if the market shows some interest in the Indian market credibility there a chance the market not be crash or any type of correction. But we can see some short directions because of some BIGPLAYERS interruptions (FII/DII). L E V E L S:- SUPPORT:-51300 51000 RESISTANCE:-52500
NSE:BANKNIFTY
by TheGoldenRatio-6
BankNifty Intraday Support & Resistance Levels for 23.07.2024On Monday, BankNifty entered the 75m and daily demand zones, bouncing 500 points from the day's low before closing at 52880.40. A decisive crossover above 52750 with volume might lead to a new all-time high. The weekly and daily trends (50 SMA) are still positive. As mentioned in the last post, the support and resistance levels remain the same. Support Levels: Near support/demand zone (75m) for weekly trade: 51749 - 51966 Major support/demand zone (Daily): 51138 - 51934 Resistance Levels: Near small supply/resistance zone (15m): 52482 - 52563 Far supply/resistance zone (30m): 53064 - 53188
NSE:BANKNIFTY
by PriteshPal
Banknifty Budget day prediction for tomorrow 23 Jun Tomorrow is Budget Day; all of you must be very excited to trade it. Usually, there is not very good price action for such events. The market might take turns from pivotal points marked on the chart. If we look at the chart now: The market is trading near the support zone and support trendline. The market has been consolidating for the last 15 days. If the range breaks to the upside, the market can give very nice momentum. Support levels: 52210, 52086, 51778, 51318 Resistance levels: 52657, 53178 If we look at the OI data: PCR = 0.59 shows bearish market behavior. There is good CE writing on the 52300 and 52500 levels, which shows a good resistance point. On the other hand, 52000 and 51500 is having good PE writing that might give good support points. Reason: RSI is 40 - 60, showing the market is going to be a sideways structure. Price trading at 200 EMA can go either way. PCR = 0.59 shows that the market is Bearish. Price > VWAP shows a Bullish market structure. Verdict: Neutral Plan of action: Wait for 15 min candle. Wait for good price action on the 52000 levels, and make your positions accordingly.
NSE:BANKNIFTY
by finnova_
BankNifty Intraday Support & Resistance Levels for 22.07.2024On Friday, BankNifty remained within its range and did not cross the major resistance level of 52750, closing 355 points down at 52265.60. A decisive crossover above 52750 with volume might lead to a new all-time high. The weekly and daily trends (50 SMA) are still positive. Banknifty might be highly volatile today due to the Budget session scheduled today. Support Levels: Near Support/Demand Zone (75m) for weekly trade: 51749 - 51966 Major Support/Demand Zone (Daily): 51138 - 51934 Resistance Levels: Near small supply/resistance zone (15m): 52482 - 52563 Far Supply/Resistance Zone (30m): 53064 - 53188
NSE:BANKNIFTY
by PriteshPal