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Bank Nifty 04-04-2024 AnalysisHello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - with support of PDH Sell - with rejection of PDL See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – SriTrader5121 _______________________________________ Rules to fallow... 1) Wait for conformation. 2) See the price action at our zones. 3) Trade with Strict Stop Loss. 4) Trade with Small Quantity. 5) Take entries based on Support & Resistance Zones. _____________________________________________________ Please take the trade according to the zones marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries based on your own analysis and risk. This is for education purpose and a helping hand to learn trading in live market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels / Zones. So one can book profit / loss based on your risk-reward or considering price action at respective zone how it works near that zone. I hope you all like my analysis. Follow me to get regular updates. Please do share your thoughts in comment section. Please Hit a LIKE, it motivates me to do analysis and do share with your trading friends.
NSE:BANKNIFTY
by SriTrader5121
#Banknifty directions and levels for April 2nd.Banknifty has also consolidated in the last session. If the market opens with a gap-down, then we can expect minor correction initially. After that, if it finds support around 23 or 38%, then we can expect consolidation for a rally continuation. On the other hand, if it breaks the fib level of 38%, then it may turn into a correction phase that will reach a minimum of 50 to 78%. Alternatively, if the gap-down doesn't sustain, then it could take a little bit of consolidation initially. After that, if it breaks the fib level of 78%, then we can expect further rally continuation.
NSE:BANKNIFTY
by Manickamtraders
BankNifty 01 Apr- stance revised to bullish as 47465 brokenBankNifty Analysis - Stance Bullish ⬆️ BankNifty does what was pending for quite a long time i.e break above the 47465 resistance. Despite the sharp correction in the last 45 minutes of the previous working day, BN managed to recoup the losses and close much higher than the swing high. We took out the resistance in the opening candle itself after that there were 2 to 3 attempts to check if the support was strong enough. In the last 55mts we had a smooth surge which gave the impression that the support is here to stay. If we connect the dots from the lows of 12th Feb, it looks like a new higher high in the making. If it does go there, it will be a treat to watch as BankNifty has been lagging behind Nifty for quite a long time now. We wish to change our stance from neutral to bullish as long as 47465 support is held. – Algo Trading Our algo trades ended today with a gain of 41546 as I prematurely closed the trades at 11.22 today.
NSE:BANKNIFTYLong
by viswaram
BANKNIFTY Intraday Trade Setup For 2 Apr 2024BANKNIFTY Intraday Trade Setup For 2 Apr 2024 Bullish-Above 47650 Invalid-Below 47540 T- 48055 Bearish-Below 47370 Invalid-Above 47480 T- 46970 BANKNIFTY has closed on a bullish note with nearly 1% gain today. It opened with a gap up near our buy level and buy triggered above 47450 and gave a move till 47640. After a big gap up 10 o'clock range was to be used as per trade setup but it was not triggered, index traded inside 10 o'clock range. Tomorrow below 47370 it can trigger a pullback move towards 46970 as per half bat pattern same will be intraday support. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 47650 then we will long for the target of 48055. For selling we need a 15 Min candle close below 47370. T- 46970 and 46625. 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 April 1st.Bank Nifty also reflects similar sentiment. Gift Nifty is indicating a gap-up start, suggesting potential consolidation initially. After that, if it breaks the previous high, we can expect the rally to continue. Alternatively, if the gap-up is not sustained, we can anticipate a minor correction initially. If it finds support around the 38% level, it may form a consolidation structure. However, if it breaks the 38% Fibonacci level, we could see a correctional wave ranging from 50% to 78%.
NSE:BANKNIFTY
by Manickamtraders
Bank Nifty 01-04-2024 AnalysisHello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - with support of Important / Support Sell - with rejection of Important / Side-ways-zone See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – SriTrader5121 _______________________________________ Rules to fallow... 1) Wait for conformation. 2) See the price action at our zones. 3) Trade with Strict Stop Loss. 4) Trade with Small Quantity. 5) Take entries based on Support & Resistance Zones. _____________________________________________________ Please take the trade according to the zones marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries based on your own analysis and risk. This is for education purpose and a helping hand to learn trading in live market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels / Zones. So one can book profit / loss based on your risk-reward or considering price action at respective zone how it works near that zone. I hope you all like my analysis. Follow me to get regular updates. Please do share your thoughts in comment section. Please Hit a LIKE, it motivates me to do analysis and do share with your trading friends.
NSE:BANKNIFTY
by SriTrader5121
BANKNIFTY Intraday Trade Setup For 1 Apr 2024BANKNIFTY Intraday Trade Setup For 1 Apr 2024 Bullish- Above 47450 Invalid-Below 47340 T- 47885 48315 Bearish-Below 46950 Invalid-Above 47060 T- 46500 BANKNIFTY has closed on a slight bullish note with 0.56% gain last week. Index is broadly trading in a rising parallel channel since 25 Jan Bottom. Breakout of this channel pattern will be above last swing high 46200 and below last swing low 46800 in daily TF. Index consolidated within a 500 points range between 21-27 Mar, breakout happened on 28 Mar and is on verge of CIP/Retest. So we will again trade bullish impulse above 47450. Incase index fails the range breakout then we will short below 46950 for initial range low as target. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 47450 then we will long for the target of 47885 and 48315. For selling we need a 15 Min candle close below 46950. T- 46500. 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
28 Mar ’24 — BankNifty has to break 47465 to go bullishBankNifty Analysis - Stance Neutral ➡️ BankNifty made its run today, but nothing as dramatic as Nifty50. We went up 590pts ~ 1.26% and then gave up 443pts ~ 0.93% in the last 45mts. The stance on BN is still neutral. If we had broken the 47465 resistance today and closed above, we would have changed the status to bullish. At one point, breaking 47465 was looking almost certain. 4mts chart If you look at the higher time frame, you would quickly agree with my view. BN has a bullish edge but is still neutral. For a strong bullish move, the resistance has to be broken, and if we do that we might create a new higher high from the bottom made on 24th Jan. When we resume trading on 1st April, we wish to start with a neutral bias, and go long if we breach 47465. 63mts chart - Algo Trading Expecting choppiness today, did not run the Algo trades today. In hindsight, that proved to be the right decision. Otherwise, the entire month’s gain would have been wiped out.
NSE:BANKNIFTY
by viswaram
#Banknifty directions and levels for March 28thBanknifty has a similar sentiment. The 4th subwave has consolidated for a long time. So, if the market opens neutrally, then the 4th may continue further. After that, if it breaks the previous high, then we can expect the 5th wave, which may reach a minimum of the supply zone. If the 5th wave rejects there, then we can expect a correctional wave. On the other hand, if the market sustains around the supply zone, then the 5th may extend further. Notes: >Nifty and Banknifty have both been moving in a range-bound structure. >Giftnifty indicates a neutral start, so the possibility of the moment being the range market might continue further. >How can we trade in this range market? We can try to enter the minor fib level breakout and fix your target at the next fib level. >If you want to take an option trade, then you should know how much premium you will get in the particular range because the range market may not provide as much premium in the options contract. >Tomorrow is a trading holiday."
NSE:BANKNIFTY
by Manickamtraders
BANKINIFTY Intraday Trade Setup For 28 Mar 2024BANKINIFTY Intraday Trade Setup For 28 Mar 2024 Bullish- Above 47000 Invalid- Below 46890 T- 47535 Bearish- Below 46500 Invalid- Above 46610 T- 46050 BANKINIFTY has closed on a bullish note with 0.4% gain today. Since last 4 trading session index has been absolute sideways within a very tight range of 500 points. Non - directional trading has no space in between. In fact I myself have survived with small scalps these last 4 days. Avoid directional trading between 47000 and 46500. Breakout of this range will bring a good directional move and initial move of 500 points can be expected. Our key levels for tomorrow are 47000 and 46500 however 46670 is an internal bearish trigger before 46500. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 47000 then we will long for the target of 47535. For selling we need a 15 Min candle close below 46500. T - 46050 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
27 Mar ’24 — BankNifty ends flat, but no directional intent yetBankNifty Analysis - Stance Neutral ➡️ BankNifty also started the day with a gap up and then an immediate rise to the 46920 levels. This did not sustain as we gradually fell back to 46690 levels between 10.35 and 15.07. Surprisingly we had a 284pts rally in 15 minutes right back to the 46920 zone. The final close at 46785 looked pretty decent with the major gains coming from HDFCBK, AXIS, and KOTAK. For a brief period, it was interesting to see ICICI Bank and HDFC Bank going the opposite way thanks to the year-end rebalancing. 4mts chart On the higher time frame, BN looks flat, I am totally unable to make out the next direction with the current chart pattern. What was really lacking for the last 3 months was consensus in choosing the direction, among Nifty50, BankNifty and NiftyIT. NiftyIT is so beaten that a quick recovery is ruled out. Only if BN aligns with Nifty50 we can have a breakout. 63mts chart – Algo Trading Due to a production key error, I was not able to set up the execution on AlgoTest today - hence no trades.
NSE:BANKNIFTY
by viswaram
Bank Nifty 28-03-2024 AnalysisHello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - Above Side-ways-zone Sell - Below Side-ways-zone See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – SriTrader5121 ______________________________________ Rules to fallow... 1) Wait for conformation. 2) See the price action at our zones. 3) Trade with Strict Stop Loss. 4) Trade with Small Quantity. 5) Take entries based on Support & Resistance Zones. ______________________________________________ Please take the trade according to the zones marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries based on your own analysis and risk. This is for education purpose and a helping hand to learn trading in live market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels / Zones. So one can book profit / loss based on your risk-reward or considering price action at respective zone how it works near that zone. I hope you all like my analysis. Follow me to get regular updates. Please do share your thoughts in comment section. Please Hit a LIKE, it motivates me to do analysis and do share with your trading friends.
NSE:BANKNIFTY
by SriTrader5121
#Banknifty directions and levels for March 27th.Bank Nifty also has the same sentiment. If the gap-down sustains and breaks the Fibonacci level of 50%, then we can expect a minimum of 61 to 78% correctional wave. After that, if it finds support there, it may undergo a minor pullback wave of the Fibonacci level of 38%. On the other hand, if it breaks or consolidates around the Fibonacci level of 78%, then the correction will likely continue. Alternatively, if the gap-down doesn't sustain and if the initial market experiences a sharp pullback, it might enter a range market between the previous high.
NSE:BANKNIFTY
by Manickamtraders
26 Mar ’24 — BankNifty appears more bearish than neutralBankNifty Analysis - Stance Neutral ➡️ BankNifty started the day weak and continued to stay weak. The rebound from the opening low was not as dramatic as N50, we broke the low at 10.03 indicating further weakness. Technically BN only closed 0.56% lower vs Nifty which closed -0.42%, but the visual impact shows more negativity on BN than N50. Firstly because the recovery was almost not there and secondly because we kept on losing the lows. 4mts chart The chart pattern on BN is not bullish anyway. Even though the numbers look flat & neutral, the chart is screaming bearish. But you know we cannot go bearish until the support is broken or a new lower low is formed - so we might have to be contended with what we have. NiftyIT has made a decent reversal from the interim top, if BN also keeps falling then no way can N50 stay at these levels. Sector rotations do work for a limited period but if we have the financials and IT putting its weight on one side, all the other sectors combined cannot pull N50 back. 63mts chart – Algo Trading Our algo trades ended today with a gain of 27404. Exited the trades @ 10.54 and did not want to test my luck after that.
NSE:BANKNIFTY
by viswaram
BANKNIFTY Intraday Trade Setup For 27 Mar 2024BANKNIFTY Intraday Trade Setup For 27 Mar 2024 Bullish-Above 46800 Invalid-Below 46690 T- 47250 Bearish-Below 46500 Invalid-Above 46610 T- 46050 BANKNIFTY has closed on a bearish note with 0.56% cut today. All this cut was contributed due to sustained gap down opening. It was a complete option seller's day as it traded within 250 points the whole day. Tomorrow above 46800 there can a short covering move as it has formed a long wick rejection candle in daily TF, only place where it can stuck is previous day closing price. Below 46500 we will plan a short trade and it will activate move towards 46050. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 46800 then we will long for the target of 47250. For selling we need a 15 Min candle close below 46500. T- 46050. 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
Bank Nifty 27-03-2024 AnalysisHello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - Above Side-ways-zone Sell - Below Side-ways-zone See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – SriTrader5121 ______________________________________ Rules to fallow... 1) Wait for conformation. 2) See the price action at our zones. 3) Trade with Strict Stop Loss. 4) Trade with Small Quantity. 5) Take entries based on Support & Resistance Zones. ______________________________________________ Please take the trade according to the zones marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries based on your own analysis and risk. This is for education purpose and a helping hand to learn trading in live market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels / Zones. So one can book profit / loss based on your risk-reward or considering price action at respective zone how it works near that zone. I hope you all like my analysis. Follow me to get regular updates. Please do share your thoughts in comment section. Please Hit a LIKE, it motivates me to do analysis and do share with your trading friends.
NSE:BANKNIFTY
by SriTrader5121
#Banknifty directions and levels for March 26th.Banknifty also has the same sentiment. If the market opens with a gap-down, then the 38% to 50% zone will act as support. If it finds support there, we can expect a range-bound market. However, if it consolidates or breaks that level, then the correction will continue further. Alternatively, if the market opens with a gap-up and breaks the previous day's high, then first we should watch the breakout structure. If it has a solid structure, then we can expect sharp moves. If it breaks with less volume, then it may form a diagonal pattern, because if it breaks the previous high, then the 5th wave may continue. The 5th wave is a distribution wave.
NSE:BANKNIFTY
by Manickamtraders
22 Mar ’24 — BankNifty holds ground, when NiftyIT was crashingBankNifty Analysis - Stance Neutral ➡️ BankNifty stays in the neutral zone for yet another day. Even when N50 made its 1.36%, BN went up only by 0.9%. NiftyIT was tanking on one side, but BN was holding its ground from falling. I am seriously confused about whether Nifty or BankNifty has the lower beta. Even the profit booking in the last 40mts did not have a wild impact on BN but it might have taken the profits out of N50 straddlers. 4mts chart We are almost midway between the nearest support & resistance. The slope of the 200 EMA will prove the point that we are neutral, just check its slope - it's almost parallel to the X-axis. This was the major reason why I never went bearish even though we fell 2000+ points from the ATH. We continue to maintain our neutral stance for Tuesday and would like to build fresh positions based on the price action. 63mts chart — Algo Trading Our algo trades ended today with a loss of 7029 rupees, thanks to the swing from Nifty50. So for my current month, the Nifty Algos are in loss whereas BN is in good profits. This takes me back to the earlier question, which one has the lower beta?
NSE:BANKNIFTY
by viswaram