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Bankniftytradesetup

04 Apr - BN - The opening RED candle, RBI MPC meet will decode..BankNifty Analysis - Stance Bullish ⬆️ The beauty of BankNifty today was that its fall did not go below yesterday’s close. Yes, the fall was intense, but the recovery was more elegant - a steady rise showing immense Bull strength. And if you read today’s report along with what we wrote yesterday, you might have become a true fan of the Bulls. A true jump above the 47465 support shows the index is really gearing up for its breakout. Just take a look at HDFC Bank’s chart, the recovery from the recent lows has been really amazing. And when the Elephant is in the mood to run, there is nothing the smaller animals can really do. We wish to start the day tomorrow on the bullish side. The RBI MPC meeting will be closely watched and I would really like to know why we had a strong opening RED hourly candle. There might be something that they know that we dont, let us find that out tomorrow. – Algo Trading Our algo trades ended today with losses of Rs9757. I had to manually override and square off the trades to limit the losses. In Hindsight, that proved like a good decision.
NSE:BANKNIFTYLong
by viswaram
BANKNIFTY Intraday Trade Setup For 5 Apr 2024BANKNIFTY Intraday Trade Setup For 5 Apr 2024 Bullish-Above 48260 Invalid- Below 48150 T- 48800 49150 Bearish-Below 47700 Invalid-Above 47810 T- 47350 46970 BANKNIFTY has closed on a positive note with 0.92% gain today. Both side moves were seen in today's session after a long time. We saw an increase in candle's size and which is due to Expiry and RBI Credit Policy tomorrow. Tomorrow there will be both side moves due to event. I will personally not trade tomorrow. 48800 and 47700 are major levels for tomorrow's session. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 48260 then we will long for the target of 48800 and 49150. For selling we need a 15 Min candle close below 47700. T- 47350 and 46970. 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 4th.Banknifty maintains the range market structure, so if the gap-up sustains and breaks the fib level 78% on the upside, then we can expect the rally to continue. That may reach the supply zone. After that, if it consolidates or breaks that level(SZ) then we can expect further rally continuation. However, if it sharply rejects(around the SZ), then it may retrace a minimum of 38 to 61% in the minor swing. Alternatively, if the gap-up doesn't sustain, then it may turn into a minor correction. But that should break the fib level 38% in the minor swing. If it happens, then we can expect a minimum of 78% to 47149 level of correction
NSE:BANKNIFTY
by Manickamtraders
BN 03 Apr - The bulls are ready to charge, will N50 spoil it?BankNifty Analysis - Stance Bullish ⬆️ BankNifty also defended its current levels very beautifully today. The open was pretty bad as we dropped to 47278 levels by 09.27. If you observe the charts you can quickly understand that it was well below the support and that should have triggered a further fall if the Bears had an upper hand. Unfortunately, the trend is still in favor of the Bulls as the recovery was intense. A look at the 10.11 candle that cut through the 47465 resistance will give all the proof you require. BN ended up recovering 398 points from the lows and unlike Nifty we closed near the highs of the day. If you ask me, the trend is still favoring the bulls 5 out of the 6 candles today are in GREEN with the odd RED candle being a doji. It might be very unfortunate if Nifty50 has plans to reverse now as BN looks quite ready to break out. We all know how much energy will unwind when N50 and BN are aligned in the same direction. For the last 3 sessions, we have both of the indices upward looking but with no followthrough action. Let us hope tomorrow is that day wherein we expect a directional move. – Algo Trading Our algo trades ended today with a gain of Rs44262, this is the 3rd consecutive day where I had to exit the trades prematurely as the hourly profit targets were hit.
NSE:BANKNIFTYLong
by viswaram
BANKNIFTY Intraday Trade Setup For 4 Apr 2024BANKNIFTY Intraday Trade Setup For 4 Apr 2024 Bullish-Above 47720 Invalid-Below 47610 T- 48210-50 Bearish-Below 47350 Invalid-Above 47460 T- 46970 BANKNIFTY has closed on a slight bullish note with 0.17% gain today. It seems to be a strong bulls presence as it opened gap down due to global cues and then recovered and closed near day high. Above 47720 we can expect a strong bullish impulse towards 48250 zone. Best case bullish trade will be if index opens below 47700 and breaks 47720. It is a high probability trade. Below 47350 we will plan a short trade towards 47k zone, 47370 being intra support. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 47720 then we will long for the target of 48250. For selling we need a 15 min candle close below 47350. T- 46970. 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- 02 Apr - 47465 support defense crucial for UP moveBankNifty Analysis - Stance Bullish ⬆️ BankNifty defends the support of 47465 today also, much-needed confirmation to hold on to our bullish stance. The next leg of the rally should ideally come from the banking sector. But the biggest concern I have is that the actual torch bearer of the directional trend has shifted to NiftyIT from BankNifty. From Jan 2024, BN has been a laggard whereas NiftyIT did drive the Nifty50’s directions. The power struggle was quite obvious as Jan to March was pretty bad for most option traders. Neither the trend following nor the option selling strategies worked out. NiftyIT is currently in a reversing trend. If BankNifty starts to move up and IT moves down and if Nifty sides with IT rather than the banks then we are in for a big disappointment. Let us hope the Banks take back the control from IT, the rationale being it is the sector with the highest weightage. The trend is safer if the highest weighted sector drives the show. The first thing BN has to do is take out the ATH. We wish to start the day tomorrow with a bullish tone and then switch to a cautious mode if 47465 support is getting broken. Tomorrow being expiry, a 100+ quick points move could surge the options premium. As it stands the premiums are not suggesting any directional move. Algo Trading Our algo trades ended today with a gain of Rs31517, again I pulled the plug early to save the transaction costs and book 2/3rd of theoretical profits.
NSE:BANKNIFTYLong
by viswaram
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