BANKNIFTY in formation of a rising wedge on weekly charts.But still looking strong after getting support at the bottom of the trendling. BANKNIFTY looking solid for coming few weeks . Before election can be pushed to 50,000 levels which is near the upper trendline.
Banknifty 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...
BANKINIFTY 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...
BankNifty 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...
Hello 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...
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...
BankNifty 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...
BANKNIFTY 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...
Hello 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...
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,...
Overall nifty has move up from the lows of 21700 ! It had positive divergence in 2hr chart which has played out well, now its creating inverted H&S in 30 mins time frame. which shows a breakout done and awaiting 22500 as its target.
BankNifty 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...
1. Trend Bullish 2. Set up reversal with false break down 3. RR 1:10+
Hello Traders, as we have been discussing the resistance line and bears and bull zone in Banknifty, it has broken the resistance line and entered the bull zone, where I expect the market to be bullish. if we look at the chart now: The market broke to the upside yesterday. It opened at +500 and ended up sideways. That means the market is not consolidating...
Banknifty closing near where it opened. There is no difference compared to the Nifty structure. If the market finds support around the 38 or 50% Fibonacci level, then we can expect a range-bound market to rally continuation. On the other hand, if it breaks the 50% Fibonacci level, it may turn into a correction phase. We can expect that correction to reach a...
BankNifty Analysis - Stance Neutral ➡️ BankNifty gaps up 422pts ~ 0.91% but doesn't go anywhere. We are neither bullish nor bullish again. One thing was quite clear today, the downside was quite absent today. In fact, our lows of 46651 were protected pretty well. The gaps were because of the outperformance by SPX, NDQ yesterday. Yesterday, the US FED decided to...
Hello 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...
BANKNIFTY Intraday Trade Setup For 22 Mar 2024 Bullish-Above 47000 Invalid-Below 46890 T- 47615 Bearish-Below 46550 Invalid-Above 46660 T- 46050 45640 BANKNIFTY has closed on a bullish note with 0.81% gain today. While all this gain was entirely contributed via gap up backed by FED outcome overnight. It has formed a shooting star candle in daily TF. So below...