Get started

Bankniftytrading

FASP levels for Bank Nifty 12/04/2024The FASP for BankNifty is listed for 12-04-2024. 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- Tradeplan for 27Mar24BNF tried to move past 46753, it failed and made a double top before testing 46546. This is a level that had previously pushed price to around 47000, however, with recent movement, it had been respecting a parallel channel formed in 15MTF. If level 46699 is not broken, we can expect a movement down, this will also fill the gap before moving to 46360. Note: Ideas share by me are only for educational purpose. Markets are subjected to risk, please do your due diligence before making investments/ trades.
NSE:BANKNIFTYShort
by svj_ravi
08 Apr 2024 - BankNifty also gets a new HIGH, what a RUNBankNifty Analysis - Stance Bullish ⬆️ BankNifty also takes out the recent swing high and a new ATH is in place ~ 48716 @ 13.23. Over the next 2 candles, it lost 217pts ~ 0.45%. The final close was with a nominal gain of 88pts ~ 0.18%. What a run it has been by BN, we have officially it a new higher-high, but it has not finished yet. Only when we retrace a few points, we can mark the new peak. Hope the analysis of the recent days has benefited you in the right direction. --- Algo Trading Our algo trades ended today with a gain of 29172. Most of the credits go to BankNifty which stayed in a narrow range.
NSE:BANKNIFTYLong
by viswaram
Banknifty Prediction for tomorrow 8 April 24Banknifty has been in an uptrend for the last week. By looking at the chart: BankNIfty is trading at an all-time high right now. The Bulls are weak at this point. In the past two days, there has also been selling pressure. By looking at the OI data: PCR = 1.34 indicates a bullish market nature. 48500 will be acting as the Max-Pain. Above 48500, there is not much resistance. Below 48500, there are minor supports till 48000, and then, at 48000, there is a huge PE writing, which is going to provide a strong support zone. I am expecting the market to get some consolidation in upcoming sessions, which might lead to a high volatility sideways market. All important levels have been marked at chart. Support: 47770, 47410 Resistance: 49000, 49400 Reasons: The market has given a nice bull momentum, which now requires consolidation. The market is trading at the resistance zone 1H-TF. Price > EMAs show a bullish market structure. RSI > 60 is in the bullish zone. Price > VWAP, which indicates that the market price is not balanced. Verdict: Sideways or bullish Plan of action: Sell 48500 CE & 48200 PE (Hedge it with 20/-)
NSE:BANKNIFTY
by finnova_
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- 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
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
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
27 Mar ’24 — BankNifty ends flat, but no directional intent yetBankNifty 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 coming from HDFCBK, AXIS, and KOTAK. For a brief period, it was interesting to see ICICI Bank and HDFC Bank going the opposite way thanks to the year-end rebalancing. 4mts chart On the higher time frame, BN looks flat, I am totally unable to make out the next direction with the current chart pattern. What was really lacking for the last 3 months was consensus in choosing the direction, among Nifty50, BankNifty and NiftyIT. NiftyIT is so beaten that a quick recovery is ruled out. Only if BN aligns with Nifty50 we can have a breakout. 63mts chart – Algo Trading Due to a production key error, I was not able to set up the execution on AlgoTest today - hence no trades.
NSE:BANKNIFTY
by viswaram
26 Mar ’24 — BankNifty appears more bearish than neutralBankNifty 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 recovery was almost not there and secondly because we kept on losing the lows. 4mts chart The chart pattern on BN is not bullish anyway. Even though the numbers look flat & neutral, the chart is screaming bearish. But you know we cannot go bearish until the support is broken or a new lower low is formed - so we might have to be contended with what we have. NiftyIT has made a decent reversal from the interim top, if BN also keeps falling then no way can N50 stay at these levels. Sector rotations do work for a limited period but if we have the financials and IT putting its weight on one side, all the other sectors combined cannot pull N50 back. 63mts chart – Algo Trading Our algo trades ended today with a gain of 27404. Exited the trades @ 10.54 and did not want to test my luck after that.
NSE:BANKNIFTY
by viswaram
Banknifty prediction for today 22 Mar 24Hello 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 at this level now. The market is going to be sideways in the range of 46630-46950. If we look at the OI data: PCR = 0.91 shows the bullish market indication. There is good support at the 46500 level and Resistance at 47000. Intermediate levels have been written equally by both parties. I am expecting the market to be Bullish for this expiry session. All important levels have been marked on the chart. Support: 46627, 46277, 45907 Resistance: 47437, 46900 Verdict: Bullish Plan of action: Sell 46650 PE (Hedge it with 20/- premium )
NSE:BANKNIFTYLong
by finnova_
21 Mar ’24 — BankNifty was never bearish, today is proof.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 keep the rates flat and also indicated there could be up to 3 interest rate cuts this year. Even though it could be an election gimmick, the markets reacted positively and this spillover effect ensured we are also outperforming. But what it really did was abort the bearish flow. BankNifty was never bearish, but Nifty was and that flow got interrupted. 4mts chart On the higher time frame, the bearish setup did not really start but the patterns look promising. What we need to see if we are getting followthrough on the bullish side tomorrow or not. Next week the trading is cut short by 2 days due to Holi & Good Friday, so I am guessing the decision might be taken tomorrow itself. We would prefer to start the day tomorrow with the neutral stance and then take it from there. 63mts chart - Algo Trading Our algo trades ended today with a gain of Rs19360 mostly because BN maintained a small range today.
NSE:BANKNIFTY
by viswaram
Bank Nifty 22-03-2024 AnalysisHello 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 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 Prediction Levels for 21 March 2024The chart indicates 15 min time frame. These Levels act as Support and Resistance according to position of price. These are strictly for Intraday Trading only. Execution only after break out and close above the Resistance zone or break down and close below the Support zone. These levels act as support and resistance. You have to trade according to level breakout or breakdown. To buy or sell you can follow Buy/Sell Indication given by indicator or you can follow cloud also. If you are a new trader then just watch (No Trade) these levels for some days. Happy trading. Disclaimer: I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult with your Financial Advisor before taking any decision or trade.
NSE:BANKNIFTY
by suraranjanganguli
20 Mar ’24 — BankNifty fallen for 9 Days - yet I am not bearishBankNifty Analysis - Stance Neutral ➡️ Once again BN proved to be resilient to the bearish attack. We briefly broke the bearish channel top line, hit a new intraday low of 45828, and then reversed from there. The reversal was a whopping 828pts ~ 1.81% on what we could call a bear market killer. Whatever green candles we had in that recovery were strong and had good depth. The only reason N50 had that dramatic reversal was due to BankNifty. 4mts chart Most of the analysts are bearish on BN, but I am still not convinced. Yes, we had a drop of 2317 points ~ 4.81% overall but the downside moves are not convincing enough. Primarily because the momentum is still not there, compare it with N50 and you will get the variance. All BN has to do is enter the bearish channel and then we can go short with a higher conviction. Meanwhile, I modified the bearish channel bottom line (purple color line), connected the recent price actions and finally, it is looking parallel to the top line (blue) as well. 63mts chart – Algo Trading Our algo trades ended today with a gain of 14970 points. Sensing the situation getting a bit volatile, I manually squared off the positions at 09.38 itself.
NSE:BANKNIFTY
by viswaram
2
19 Mar ’24 — BankNifty has another 300pts to go Bearish 🐻🐻🐻BankNifty Analysis - Stance Neutral ➡️ The level of reluctance BankNifty shows to crack is really intense. Usually, Banks react badly to any situation. We now have a peculiar case wherein Nifty has been downward facing for the last 3 consecutive sessions whereas BankNifty has stayed neutral. BankNifty has been losing points steadily, eg: it lost 191pts today but the bearish intent is not there. And you know pretty well we cannot change the status to bearish unless the “Bears” actually push down the index with momentum. We would need a breach of support or a re-entry to the bearish channel for that. 4mts chart Even though BN lost a few points today, it was nothing comparable to Nifty (-1.08%) and NiftyIT (-2.9%). None of the Nifty subsectors were in Green today. The main sector fighting for the bulls was the Financials. My eyes were totally glued on ICICI Bank and HDFC Bank today, despite N50 falling both these banks held their ground pretty strongly. In many instances, both were trading against the current. On the higher time frame, BN has less than 300pts to enter the bearish channel. Tomorrow being the weekly expiry, we are pinning the hopes for a classic bear attack. We would prefer to start the day neutral and go short only if the conditions are met. A rising VIX would be the 2nd clue we might be watching for. 63mts chart – Algo Trading Our algo trades ended today with a gain of Rs27216. I wound up the trades at 12.48 as almost 95% of the target was done and did not want to lose out to a possible directional trend.
NSE:BANKNIFTY
by viswaram