BANKNIFTY Intraday Trade Setup For 24 Feb 2024 Bullish-Above 48310 Invalid-Below 48200 T- 48755 Bearish-Below 47890 Invalid-Above 48000 T- 47300 BANKNIFTY has closed almost on a flat note today. It opened with a big gap and was sold into immediately like yesterday. 10 o'clock range was to be used as per setup but index did not break out any side. It traded...
BankNifty is still trading within the range of 47900 and 48250 for past two days. It is well know here that 48250 is acting as a major resistance. We can expect a bullish move only if BankNifty sustains above 48250. There is no change in the Support & Resistance levels. If BankNifty sustains above the resistance of 48250 we can expect a upward movement to above...
BankNifty touched the resistance zone of 48250 and reversed from there. Post which we had a sideways market. It also to be noted that VIX has crashed nearly 20% for today. We can expect a sudden fall or raise in market due to this crash in upcoming days. Also, this will be good trade setup for option sellers but still the sudden spike n market will affect their...
Based on HDFC Bank results on 21 st April if we analyze BN, HDFC Bank and All other BN index bank charts, every bank looks bearish to me !!!!!!! Based on 19th april closing data indicating complete bearishness only in all the banks chart. once the support area is broken we can see big fall in BN. on 22nd April if HDFC is bearish as per Q4 results then my...
BNF is trading near the one hour timeframe support of 46600. As mentioned in my previous analysis, BNF took the support of 46600 zone and reversed. If BNF sustains below 46600 we can expect a further fall till its immediate support. If BNF moves upward we will have a immediate resistance of 47750. Below are the resistance levels to watch Resistance 1 47750 ...
BankNifty Analysis - Stance Bearish⬇️ BankNifty was more dramatic versus N50, it went ahead and rallied 1093pts ~ 2.35% and ended up taking out the crucial resistance of 47465. The momentum favors a stance change to neutral, but I would like to wait for one more day for confirmation. The lowest point of the day was hit in the opening candle and the highest point...
This is the analysis of Banknifty in Daily Time Frame. Watch carefully. The chart explains itself. There are some prediction levels. These Levels act as Support and Resistance according to position of price. You have to trade according to level breakout or breakdown. Always maintain your risk management. Book your profit according to your...
As we discussed, Banknifty has been falling for the last four sessions. If we look at the charts: The market is reaching near the support trendline, which is going to provide a potential support zone for Banknifty. if we look at the OI: PCR = 0.67 shows the market is in a bearish phase. 47000 is going to provide a good support zone as it has good PE...
Bank Nifty also witnessed a sharp decline and tested came near Imp prev swing of level 47050 The major resistance for the index is positioned at 48,000/47800 and if the selling pressure persists, the index could test its next major support level at 46,500 * For Education Purpose Practice and Learn price action setups
BankNifty Analysis — Stance Bearish⬇️ “The power of a strong support/resistance zone will help you in your technical analysis” — Anonymous. See what happened today, BN started strong and was keeping its head above the 47465 support for a long time. Between 10.19 to 10.31, there was an attempt to break this SR, but it failed. BN reclaimed the 47700 levels and...
BNF is trading near the 1hr TF support of 474000. Also it to be noted that BNF has fall 1400 points from its ATH. Still BNF is trading near the support zone of 47400 & 47600. If BNF moves upward we will have a immediate resistance of 47800. Below are the resistance level to watch Resistance 1 48100 Resistance 2 48250 If BNF moves downward we...
I am posting banknifty swing zone and levels Currently banknifty is at major supply zone bounce can here is possible with all the upside resistances which I have marked in the chart...
BankNifty Analysis - Stance Bearish⬇️ BN had a unique price action today, unlike N50 we did not see a bounce from the banks. And the lows made during the closing hours were much deeper than the opening lows. Whereas Nifty's opening low was not violated that much. Ideally, that is expected, the subsectors would fall further than the main index. I am revising the...
Bank Nifty is trading at support around 47750 zone. Considering the trading holiday on Wednesday 17/04/2024. BNF expiry will be tomorrow. BNF is now in a support zone of 47750 if broken we can expect a fall till the below two support zones Support 1 47750 Support 2 47400 If BNF moved in a uptrend, considering the globe cues take...
As we discussed, Banknifty's structure opened a gap down and fell. If we look at the chart now: The market is making Hammers at the top. Now, the market is in a very crucial position. It is trading at the support trendline and support zone. The market is making a rising wedge pattern. If the market breaks the pattern to the downside, it will be a good...
BankNifty Analysis - Stance Neutral ➡️️ BankNifty did not fall as much as Nifty50 today, we opened -244pts as gap-down, and the first candle itself was a strong green candle which gave the impression that the Bears may lose control. The follow-up action was good enough and we retested the swing low by 09.47 giving some hope, but again the markets started...
As we discussed Banknifty, Banknifty opened a gap up and then ended sideways. If we look at the chart now: The market is trading at the resistance zone. It has successfully respected the 4H-TH resistance zone, and a significant sale was made in the last 30 minutes. Banknifty gave very nice bull momentum last week. The market needs to consolidate (or...
BankNifty had a solid pullback in the last session. But it may open with a gap down. After that, if it finds support around the Fibonacci level 38% (48465 to 48378), then we can expect a range market that may experience a minimum of 38% to 61% pullback wave. On the other hand, if it doesn't sustain or undergoes minor consolidation around the Fibonacci level 38%,...