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Bankniftytradesetup

11 Mar ’24 — BankNifty breaks 47465, next SR 1000 points lowerBankNifty Analysis - Stance Neutral ➡️ We have a change in stance on BN today, As soon we had a closing below 47465 we changed the stance from bullish to neutral. We fell 693pts ~ 1.45% today and the structure was pretty negative. BN never really tried to retrace the fall today, just had 1 minor rejection at the support at 11.23, but yielded by 11.55. The ease with which the support got broken got me thinking, what was the real bad news today? I remember seeing the Japan Nikkei trading with cuts of -2.3%. But other than that, I really dont remember reading any other bad news. 4mts chart On the higher time frame, notice the depth of the RED candles till the support was broken. The single GREEN candle of 6th Mar 09.15 has been negated. Since we broke the support of 47465, the stance is now neutral. For tomorrow we wish to start with non-directional trades on BankNifty and go long if the 47465 resistance gets broken. To go short, BN will have to re-enter the bearish channel and that is like 1000pts away. If we were to fall that many points in a day, we are quite sure Nifty50 will also fall equivalently and most likely go bearish as well. Honestly, why would markets fall that much, what is the reason? 63mts chart — Algo Trading Our algo trades ended today with a gain of 20165. Manually squared off the trades at 14.21 just when the markets started to get volatile.
NSE:BANKNIFTY
by viswaram
BANKNIFTY Intraday Trade Setup For 12 Mar 2024BANKNIFTY Intraday Trade Setup For 12 Mar 2024 Sell_1- From 47810 Invalid-Above 47920 T- 47500 47200 Sell_2- Below 47200 Invalid-Above 47310 T- 46615 46068 BANKNIFTY has closed on a bearish note with with 1% cut today. Sell triggered as per trade setup below 47730 and gave a good move in favor till 47235. Although a clear move, the momentum was really pathetic which is mainly due to VIX. It has to regain 16 then only there will be good momentum in intraday. Tomorrow above 47500 it will test 47810 zone. 47810 will act as a strong resistance and we will plan a short from there. Below 47200 clear bearish momentum will kick in. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes below 47200 then we will short for the target of 46615 and 46068. 2nd sell can be planned from 47810. T- 47500 and 47200. 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 12-03-2024 Analysis Hello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - with support of PDL / Strong- Resistance Sell - with rejection of PDL / support 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
Bank Nifty 11-03-2024 Analysis Hello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - with support of PDL / Strong-support Sell - with rejection of PDL / Resistance 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 11 Mar 2024BANKNIFTY Intraday Trade Setup For 11 Mar 2024 Bullish-Above 48170 Invalid-Above 48060 T- 48800 49430 Bearish-Below 47730 Invalid-Above 47840 T- 47140 46645 BANKNIFTY has closed on a slight bearish note last week with 1.16% gain last week. Last week we saw a good grip of bulls in the initial 2 days and then some some sideways move. Index will give a bold bullish move once again above 48170 if crossed. Reason behind a bold bullish move is based on current market trend and bulls grip and a compression seen on last day. Trendline breakout will be early indication of impulse trigger. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 48170 then we will long for the target of 48800 and 49430. For selling we need a 15 Min candle close below 47730. T- 47140 and 46645. 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 March 7th.Banknifty has the same sentiment; there is a completed motive structure. So, if the initial market declines sharply, then we can expect a minimum of 23% to 38% Fibonacci correction. If it breaks the 38% Fibonacci level, that's a sign of a trend reversal (bearish trend). On the other hand, if it finds support there (23%), it might consolidate a little bit. Alternatively, if the gap-up sustains and breaks the supply zone, here also the same extension might happen. So, if the market breaks the supply zone, we can expect a rally continuation in the upcoming sessions."
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY Intraday Trade Setup For 7 Mar 2024BANKNIFTY Intraday Trade Setup For 7 Mar 2024 Bullish- Above 48180 Invalid-Below 48070 T- 48800 49430 Bearish-Below 47720 Invalid-Above 47830 T- 47140 46645 BANKNIFTY has closed on a bullish note with 0.81% gain today. Index has filled a major gap area today. This gap area/zone can act as a resistance now. After a rejection from this zone if index sustains above 48180-200 then the bullish move will continue. But first outlook seems to be a resistance zone. Below 47720 if index sustains then intraday sell off can be seen and gap area resistance will be validated by a bearish price structure. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 48180 then we will long for the target of 48800 and 49430. For selling we need a 15 Min candle close below 47730. T- 47140 and 46645. 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 prediction for tomorrow 07 Mar 24As we discussed, the Banknifty breakout gave quite a nice target today. As it was expiry today, the market turned sideways in the afternoon. If we look at the chart now: The market is trading at the resistance zone right now. Today, it has been sideways at resistance. After that, some selling came with good volume, which may be because of expiry today. The RSI trendline has also broken down to the downside. If we look at the OI data: PCR = 0.9 shows bullish market sentiments. But as it is just the start of the week, this does not contribute much for now. There can be 2 cases, as marked on the chart. Case 1: if it takes support at 47850, then it can move till 48600(ATH). Case 2: Might consolidate in the range 47500-48000. Reasons: BN is trading at the resistance Zone. 4H-TF resistance trendline. All-time high resistance Zone The RSI trendline has broken down to the downside. There might be some correction or consolidation. PCR = 0.9 shows bullish sentiments. 48000 is maxPain while 47500 is a good resistance according to the OI data. The above side is not much CE writing that shows the market is going to be HIGHER HIGH in upcoming sessions. VWAP = Price shows price is balanced. Verdict: Sideways or Bullish Plan of action: Case1: Sell 47800 PE (Hedge it with 20 rs PE) Case 2: Iron condor in range 47500-48000.
NSE:BANKNIFTY
by finnova_
#Banknifty directions and levels for March 6th.The Banknifty structure is a little different; as per the wave structure, there is a pullback wave bending (minor sub-wave 5th). So, if the market breaks yesterday's high, then we can expect a range between 47821 to 47957. Since this is the 5th wave, once it rejects there, we can anticipate a correctional wave that may take a 23 to 38% Fibonacci correction to the minor swing. however, if it sustains there(47957) then we can expect further extension. Alternatively, if it declines initially, the 47427 level will act as a crucial support. If it finds support there, then we can initially expect a range market for rally continuation. However, if it breaks, it might turn into an overall correction phase."
NSE:BANKNIFTY
by Manickamtraders
05 Mar ’24 — BankNifty Algos gave 50% profit in opening hour!BankNifty Analysis - Stance Bullish ⬆️ BankNifty gets a status change today to bullish. Look at the 12.47 candle that took out the resistance of 47465. Even the next candle formed was strongly bullish. We are now at a stage where BankNifty is strongly bullish and Nifty is showing some weakness due to the tech sector. If Nifty starts falling, there is no way BankNifty can remain in green, although it has happened many times in the past. Over the last many months, the IT sector has gained more weightage on Nifty50, I started noticing this after the inclusion of LTIM in the index. 4mts chart On the higher timeframe, BankNifty managed to get 2 63mts candles above the resistance line. Our stance change came right after the 12.24 candle as the signs were pretty clear. On a normal day, a resistance break usually signifies a much more powerful breakout rally. We are quite not sure whether we will get that tomorrow as US markets are trading in deep RED. If BN falls below 47465 or opens gap-down below this support level we will revert to a neutral stance. And since it is the weekly expiry tomorrow - we expect the premiums to pick up if that happens. As it stands the premiums of the OTM are not good enough for some serious speculation. 63mts chart – Algo Trading Our algo trades ended today with a gain of 17997 rupees. Again pulled the plug early today i.e. at 10.24. As per my backtests the max possible gain intraday is Rs36000 and since we hit 50% of that in the opening hour - decided to exit prematurely.
NSE:BANKNIFTYLong
by viswaram
Levels and zones for Banknifty remains same NSE:BANKNIFTY 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between zones. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:BANKNIFTY
by Trading_hawk
FASP levels for Bank Nifty 06/03/2024The FASP for BankNifty is listed for 06-03-2024. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTY
by SathishChandrasekaran
#Banknifty directions and levels for March 5thBanknifty is following a 5th ending diagonal pattern. So if the market breaks yesterday's high, it will reach the fib level 78% with minor consolidation. After that, if it rejects there, we can expect a minimum of a 23 to 38% correctional wave. However, if it sustains there (consolidates), then it might turn into an extension variation. On the other hand, if the initial market declines, then we can consider that as an expanding flat variation, meaning the 4th wave continuation. If it finds support around the demand zone, then we can expect consolidation for the 5th impulse wave. However, if it breaks the demand zone, then the correction will continue.
NSE:BANKNIFTY
by Manickamtraders
FASP levels for Bank Nifty 05/03/2024The FASP for BankNifty is listed for 05-03-2024. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTY
by SathishChandrasekaran