Get started

Bankniftytrading

Banknifty Analysis & Prediction in DTFThis 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 “STOMACH”. Disclaimer: This is not investment advice. 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 your Financial Advisor before taking any decision or trade. Happy trading.
NSE:BANKNIFTY
by suraranjanganguli
14 May 2024 - BN needs a bit more thrust to go BullishBankNifty Analysis - Stance Neutral ➡️ The definition of a neutral stance was much more suited for BN rather than N50 today. See the short-range in which BN operated today and notice the slow grind. Even then the volatility was very high, take a look at the HDFC Bank price moves today. How does the elephant move like that? BankNifty may not go bullish even if 48115 resistance level is taken out, it may need a bit more thrust for a change in stance. The reason is because the downfall was quite sharp and before changing the stance, we need to make sure that a higher low is not getting formed. Algos ended the day with gains of 8064 INR. Ideally, it should have made more as the chart was stable - but the volatility ensured the premiums were skewed causing unplanned losses earlier in the day.
NSE:BANKNIFTY
by viswaram
13 May 2024– BankNifty rallies 858pts ~ 1.83% intraday - NEUTRALBankNifty Analysis - Stance Neutral ➡️ Just when we thought the 47465 was getting broken for good, we got a pullback. We fell 527pts ~ 1.11% by 10.39 and then the pull back was a whopping 858pts ~ 1.83%. The final close was almost the midpoint of 48115 and 47465 which prompted me to change the stance to neutral for tomorrow. The bulk of the heavy lifting came from HDFC Bank in this dramatic reversal by BN. Just when I thought HDFC may break 1425 for another round of collapse - we get a sharp reversal. It rallied an amazing 29pts ~ 2% to change the entire narrative. On the 63mts TF, BN might try to take out the 48115 resistance tomorrow itself. In case the markets figure out that the reversal was not technical but due to front running, news, or event related - we could see repeat buyers (if news was true) and a sharp fall (if the news was planted and false). Algos forward test is shown as generating 5764 INR, but the day was in loss today - this must be again due to slippage.
NSE:BANKNIFTY
by viswaram
BankNifty Support & Resistance Levels for 13.05.2024BankNifty found support within the first support zone mentioned in the previous post; however, the rebound was not significant, signaling prevailing selling pressure in the market. The immediate support is identified between 47204 and 47345, with a further support zone extending from 46870 to 47015. Additionally, an essential Fibonacci level at 61.8%, situated at 46547 (from the low of 44429 on 25.01.2024), serves as a distant support level. On the resistance front, the closest zone for BankNifty lies between 48051 and 48146, while a more distant resistance zone is observed at 48222 to 48457. Traders are advised to exercise caution and closely monitor these levels amidst the prevailing market conditions.
NSE:BANKNIFTYShort
by PriteshPalan
10 May 2024 — BankNifty has to take out 47465 for super Bearish'BankNifty had a better kind of retracement than Nifty, but it was not able to break away from the 47465 today. More importantly, it was not even able to break down either. That signifies the importance of 47465 as a critical SR level. The behavior from open to 10.07 was quite exactly as we wrote about yesterday. This market is held by weak Bears and they run for cover very fast, unable to persist with their short position. When we connect the last 2 days of price action, the visual impression shows the continuation of bearishness. On Monday we hope the 47465 level gets broken down for the good. The next major support comes only at 46284 and if we get there — it would have to come from ICICI, AXIS & SBI as these remain the only 3 major banks that have not mean reverted. The #Banknifty algos made Rs17120 today. The high implied volatility is helping the option sellers.
NSE:BANKNIFTYShort
by viswaram
09 May 2024 - 47465 is the real laxman rekha, break 2 go full 🐻BankNifty Analysis - Stance Bearish⬇️ The bearish call on the BN was spot on, but we ended the day less bearish than N50, for me that is not good enough. Most importantly, BN did not breach the support of 47465, this was very crucial for the momentum to build. I am not exactly sure if we will start negatively tomorrow or not, a huge gapup or gapdown may work in our favor, but if BN is opening flat at the SR level - it may even move up a bit. 47465 for me was the critical support that we failed to break. The price action on a few of the bank stocks looked pretty scary. HDFC Bank -2.37%, IndusInd -2.85%, RBL Bank -3.07%. The only reason we did not fall that much was because ICICI Bank, Kotak, and SBI were holding good at the other end. The biggest doubt I have these days is Kotak is at multi-year lows, HDFC Bank is almost at the 2020 levels but BankNifty is simply near the ATHs - is ICICI, SBI, and Axis Bank responsible for the stark outperformance??? The stance is still bearish, but the first thing we need to do in the morning session is to take out the 47465 levels failing which we could get a minor pullback or short covering. Algos ended up generating 8253 INR, not bad despite a trending day.
NSE:BANKNIFTYShort
by viswaram
Banknifty Intraday Prediction Levels for 8 May 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
Banknifty Intraday Prediction Levels for 7 May 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
07 May 2024 - BankNifty stance changed to Bearish, more cuts ???BankNifty Analysis - Stance Bearish⬇️ BankNifty also fell in a single legged manner right from the open till 11.35. The fall totally unchecked by the Bulls and in a way came as a surprise as the BTFD people usually do not let the markets fall in this fast and furious manner. BN showed more weakness than N50, partly because NiftyIT was in great GREEN shape today. At a specific point, BN was down 1% and NiftyIT was up 0.9% - a stark contrast. BN ended up breaking the 48661 levels we discussed yesterday and hence we changed the stance from neutral to bearish. The next level to watch out for is 48115 and then the critical support comes at 47465. Since global markets are staying green, the FII selling in our markets could be related to political uncertainty due to the ongoing elections. BN algos ended the day with gains of 12741 INR. The bulk of the gains started coming in only after 11.39.
NSE:BANKNIFTYShort
by viswaram
06 May 2024 - BankNifty looking weak, but Bears are yet CHARGEBankNifty Analysis — Stance Neutral ➡️ 48947 is a support/resistance level after this recent run, I have still not drawn the line as the price action was in uncharted waters for some time. If we hang on to these levels, I will get the SR added by tomorrow. BN was quite strange today, Kotak after a good show of quarterly results went up 5%. That was quite expected, but how HDFC, ICICI, and AXIS traded throughout the day was totally surprising. The majority of them gave the impression that we were going up, and then quickly changed direction. At 14.31, HDFC quickly turned the direction again, and went up like 0.56% only to give it back later. I am yet to check the RBI circular on project financing changes on REC and PFC and the spillover effects on other assets. For tomorrow, I wish to maintain the neutral stance. If we stay below 48661 for an extended period, I would even prefer to go short. Algos ended up generating Rs15466 today.
NSE:BANKNIFTY
by viswaram
03 May 2024 - BankNifty stance also changed to neutral, weaknessBankNifty Analysis — Stance Neutral ➡️ BankNifty had an intraday swing of 952pts ~ 1.92% at par with what Nifty had today. There was a brief period of recovery 11.39 to 12.43, but this did not sustain and we hit an intraday low of 48659 by 13.39. BankNifty is actually weaker than Nifty, because we did not pull back even a bit yesterday and then you combine today’s price action. But if you look at the charts side by side — Nifty shows a higher bearishness than BN — but it is not. For Monday, we wish to start with a neutral stance and then go short if 48350 is getting taken out. I might wait out for the ATH to be taken out to go long. The algo made 3901 INR.
NSE:BANKNIFTY
by viswaram
02 May 2024 - BankNifty is not bearish yet, still holding gainsBankNifty Analysis - Stance Bullish⬆️ BankNifty's pattern is quite interesting, unlike N50, it did not even attempt to recoup the losses in the last hour of the previous session. It is too early to comment if it is bearishness as the charts do not say so. But the way a few banks dropped today was quite worrying. Despite that, BN did not cede ground - quite surprising on how the other banks came to stabilize the index after Kotak took the beating. On the 63mts TF, BN looks bullish still - but the obvious thing it had to do was to retrace at least 50% of the RED candle @ 14.30 yesterday. The run up so far has been more than expected, so taking a pause or even giving up some gains is not bad at all. We wish to start the day with a bullish tone and then go neutral if 48934 is getting breached. Algos made only 859 INR today.
NSE:BANKNIFTYLong
by viswaram
30 Apr 2024 - BankNifty's last candle takes out the full dayBankNifty Analysis - Stance Bullish⬆️ Banknifty does a perfect parabola and it really went by the script. Even though my Algos are non-directional - it has a huge hit rate on expiry days as the ATMs usually go to zero and the risk: reward is quite favorable. Despite having a directional move today, the slow grinding worked out in my favor until the 13.59 candle.  We rallied 474pts ~ 0.96% in 12 minutes and then fell 723pts ~ 1.45% in the last 60. I am quite sure, there is absolutely no way you can capture that kind of move via an algo. If you know someone who made money from this move, let me know - I am ready to be his/her student. On the 63mts TF, notice the last candle, after hitting a new ATH - the profit booking brought us down below the previous close. The entire day's gain was wiped out in a single candle. Algos were sailing perfectly till the 13.59 candle, quite happy to have given out only 49233 INR as losses today.
NSE:BANKNIFTYLong
by viswaram
BANKNIFTY | Investment opportunity in BANKBEESDisclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst. If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you. 🔍 More Analysis & Trade Setups 🔍 For more technical analysis and trade setups, make sure to follow me on TradingView: www.tradingview.com
NSE:BANKNIFTYLong
by Munish_Jain
Banknifty analysis for tomorrow 30 Apr 24As we discussed, Banknifty, if it takes support at 200 EMA, will make a higher high, but we didn't expect that heavy bullishness. If we look at the chart: The market is trading in the 4H-TF resistance zone; it has also broken an all-time high. That indicates bulls are very powerful, and today's moment reflects that. The price is very far from the EMAs(50, 200). there is a chance the market might consolidate here for 1 or 2 days. All important levels have been marked at the chart. If we look at the OI data: PCR = 1.65, which has risen from 0.76. it's a very strong change in OI that shows there is something very big event coming up. 49500 and 50000 are showing significant resistance levels. Other than that, not much of the CE is written on higher levels. On lower levels, there is heavy PE writing that shows that the Bulls are in full control of the market. FII and DII data do not give much information today. I expect the market to consolidate here for 1 or 2 days. After that, we will plan our trade according to the price action. Verdict: Sideways at Resistance Plan of action : Wait for the market to make some price action here.
NSE:BANKNIFTY
by finnova_
1
Banknifty Analysis for tomorrow 29 Apr 24As we discussed the live market Banknifty analysis, after that, it showed a huge fall. If we look at the chart now: The market is trading at the 200 EMA, which is likely a very good support point. Also, it gave a nice pullback with good volume in the last 15 min. Also, the market is trading at the 0.23 fib level, which is not likely to provide support after such a sharp fall. I expect the market to give the 0.38 fib retracement. ALL IMPORTANT LEVELS HAVE BEEN MARKED ON THE CHART. If we look at the OI data: PCR = 0.82, which has fallen from 0.98, which shows bears are increasing their positions in the market continuously. On the last trading day, there was a huge call writing on upper levels at 48300, 48400, and 48500. on the lower side, 48200 and 48000 are the only PE writing left. If 48000 breaks to the downside, there is not much PE writing on the lower side. If we look at the FII & DII data, FII and Pro are strong, bearish clients while clients are bullish, which shows that the market is going to open a gap-down. The market is at a crucial level right now. There are two cases: Case 1 : If it takes support at 200 EMA, it might come back strong and touch 48600 again. Case 2: If it breaks to the downside, it's going to test the 0.5 fib level at 47800. Reasons: price < EMA(13) shows the market is in a bearish phase. And bears are strong. While the price is taking support at 200, EMA might force the market to take support at this point. RSI < 50 shows strong bears' power. Bulls are weak at this point. (Bearish) PCR = 0.82, which has been falling rapidly from 0.98. shows bears are actively increasing their position size. (Bearish) price < VWAP shows a bearish market structure. (Bearish) Verdict: Mild Bearish Plan of action: Case 1: Sell 48000 PE (Hedge with 15/- PE premium) Case 2: Sell 48100 CE (Hedge with 15/- CE premium)
NSE:BANKNIFTYShort
by finnova_
25 Apr 2024– BankNifty goes bullish, ATH a swing away 🐂🐂🐂BankNifty Analysis - Stance Bullish ⬆️ BN also gets a stance upgrade to bullish, the momentum that was lacking till now came from sources we never knew existed. Kotakbank has a stunning 9.11% weightage on BN index and despite it being 10% down, BN managed to rally 886pts ~ 1.86% intraday today. BN managed to surpass the 48103 resistance which gave it the bullish tinge. The ATH of 49057 is surely a swing away, but let me take a moment and think rationally - can BN take out that level when Kotak has taken so much of a beating? Was what we saw today another round of short-covering, just because the weak hands who held the shorts were not convinced to push down the prices further? Looking at the intraday rally, I was sure the algos would get messed up. BN algos went into error @ 10.55 and auto-squared off. At the moment the losses were approx. -12341. I managed to re-activate the same to end the day with losses of -38795, in hindsight not activating again would have been the better choice 😢.
NSE:BANKNIFTYLong
by viswaram
Bank Nifty Analysis for 25-04-2024BankNifty 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 resistance levels Below are the resistance levels to watch Resistance 1 48550 Resistance 2 49000 If BNF moves downward and breaks the major support at 47900. We can expect a next support at 47700. Below are the support levels to watch Support 1 47700 Support 2 46600
NSE:BANKNIFTY
by Shree_Traders
Bank Nifty Analysis for 24-04-2024 expiry.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 setup as well. Below are the BankNifty levels for 24/4/2024 expiry. If BankNifty sustains above the resistance of 48250 we can expect a upward movement to above resistance levels Below are the resistance levels to watch Resistance 1 48550 Resistance 2 49000 If BNF moves downward and breaks the major support at 47900. We can expect a next support at 47700. Below are the support levels to watch Support 1 47700 Support 2 46600
NSE:BANKNIFTY
by Shree_Traders