Bank Nifty:
Bank Nifty shares a similar sentiment with Nifty. The structure shows a 5th sub-wave within the 3rd wave (minor swing). Structurally, further long correction is less likely, so once the market faces rejection around the immediate support level, we could see a bounce back of 23% to 38% in the minor swing, potentially marking the 4th wave. This is our...
BankNifty Stance Neutral ➡️
BankNifty has lost only 694pts ~ 1.35% over the last week and interestingly 896pts drop came on Friday, 6th Sep. Our stance has been neutral for quite some time now and prefer to stay neutral until 49728 is not getting taken out.
The daily candle of BN is quite different than Nifty. BN did not even retrace the top that it made on 4th...
Banknifty has been lagging behind and is still 1500-1700 points lower from its all time high.
The market in the final hour has given a nice upside rally and closed above the round number levels and the resistance zone.
An engulfing candle is formed on the daily charts and tomorrow is weekly expiry in the index. If there is a gap up opening there are chances of...
bank nifty have formed hormonic & wedge `pattern `
⨻⩙ can expect the sell at supply ob at 51520 and also there have wedge pattern ad its sell at 51180 if breaks there also we can go for a sell entry
⨻⩙ also we have a harmonic pattern BAT formation
at 52000 we can expect a sell area
⨻⩙ also we have extreme supply area at 52200 to 52300 area if ...
The 5th primary Elliott Wave, which began after the decline following the election results, is continuing its upward movement towards the 26,000 mark. The secondary waves 1 to 4 (within the primary wave 5) have already been completed, and wave 5 is expected to resume its upward trend soon.
This progression can be clearly seen in the chart. I am optimistic about...
bank nifty is near supply area
if :
⁜ bank nifty take entry on supply we will get and BOS and can expect a sell trend
» target will be
T1 - 48000
T2 - 46000
T3 - 45000
if else :
⁜ bank nifty will break the sell side trend line and we will get CHOCH on structure so we can expect the buy side till all time high stop hunt to be taken after that we will get...
NSE:BANKNIFTY closed relatively flat today amidst some market volatility. However, the pattern forming on the chart does not look good. We are potentially witnessing the development of a Head and Shoulders pattern, which, if completed, could signal a downward move. If this pattern plays out, we may see the index decline towards the 49,640 level.
On the other...
The Bank Nifty is currently at a decisive crossroads, presenting a compelling opportunity for traders. The index has formed a double bottom pattern and appears to be breaking out of its channel, which typically signals a bullish reversal and the potential for significant upward movement. This setup suggests the possibility of substantial gains if the breakout...
BN trading anbove 50855 then 51157 , 51455 levels are possible. Trading below 50855 then 50560 , 50272 , 49989 levels are possible.
Storng resistance is 51000
Storng support is 50000
Banknifty Breaks 50,560 it moves to 50,855. 50,855 is storng resistance if breaks this resistance with good volume and good close then BN moves 51,200 /51,753 levels
BN breaks 50272 then BF moves towards 49698 / 49097 levels
Storng Resistance 50500 / 51000
Storng Support 50000 / 49000
#banknifty #nifty #option #trend
Important points are marked.
Bank nifty on Bearish side.
All targets achieved
****Video is for education purpose***
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BankNifty Stance Neutral ➡️
BankNifty gets an upgrade, but not to bullish but to neutral from bearish. We have managed to go up by 27pts ~ 0.05% in the current week, but this after a dramatic fall and then a recovery. 82% of this recovery coming on Friday the 16th, i.e. 698pts out of 851.
BankNifty went down to 49654 a level that we last saw on 6th Aug, and then...
Support Levels:
Major Demand/Support Zone (Weekly): 49530 - 50253 (currently inside the zone)
Far Support: 48858 level (61.8% FIBO Retracement level)
Resistance Levels:
Near Supply/Resistance Zone (30m): 50200 - 50343
Far Resistance Level: 51750
Far Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609
