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Bankniftytrading

Huge selling in Banknifty. Analysis for 18/01/24.Single day fall of 2k points in banknifty is showing a bearish sentiments. A break out of the consolidaiton box is confirmed. Now the market is standing at 46050 and a clear support of 46k can be seen. If 46k levels is gone another day of selling may be there. Major support :- 46000, 45650 Market closing below the 20 ema and near to day low. Watch market price action for 1 hour as after a huge selling overnight positions will be initiated and in the first 15 minutes there will be profit booking, in case of gap down opening. Avoid bullish trades for tomorrow. The banking sector is down because of the HDFC bank single handed fell 8%, almost 150 points lower. Gap up will create confusion. In this case avoid trading. Wait and watch price action.
NSE:BANKNIFTYShort
by Mambotrade
4
Bank Nifty on Thursday 18/01/2024Bank Nifty shows big fall as per price action, I said before market was pumped for a big fall, Now market have no more liquidity at this place, so market will show again up side momentum for next few days to accumulate liquidity... but still one more big fall is remaining as per price action.. market will not go down until it breaks 45979 (major support) Here is the levels (Marked Red) for day basis, Resistance: 47113 46949 46641 46466 46389 46238 Support: 45979 (This is major support on 5 min,15 min,1 hr., 4 hr. time frame) Note : Market may show false brake down This is my personal view only for educational purpose
NSE:BANKNIFTY
by bornforseain1984
BANKNIFTY prediction for tomorrow 18 JAN 2024As we have been discussing BankNifty in the last few days, it's going to be bearish. Today, it gave a massive bearish momentum with 2000 points to the downside, which is registered as the biggest fall of BN after Corona. If we look at the chart data now, it was in the range of 47000 se 48250, which has been broken to the downside successfully. Now, the next levels of support are 45693 and 44938, which I45693 is achievable easily if it gains momentum. Also, the BN target of range breakdown is still not completed (target 45680). If we look into OI data PCR = 0.65 (weekly), 1.1 (next expiry). Looking at the levels, 46000 has huge PE writing. If it breaks to the downside, there is not much obstacle. We can easily achieve the target marked on the charts. I expect the market to fall tomorrow. It will provide a very nice target if you are able to short the market at a high point after a retracement. Reasons: Price < EMAs, which indicates the weakness of bulls or bearishness. RSI < 40, oversold zone shows bulls are weak at this point. So some retracement and then again fall is expected. Price < VWAP that shows bearishness in the market. OI data shows PCR = 0.65 which is bearish. 46000 still has nice PE writing left, but once it breaks, it will fall smoothly. (Bearish) 46680 and 45000 are potential support zones for now if they behave nicely in Price Action. EMA(50,200) bearish death crossover, which indicates a trend reversal. (Bearish) Verdict: Bearish if breaks 46000 will provide a nice target. Plan of Action: Sell 46000 CE + BUY ~25rs CE (for hedge protection) after a retracement.
NSE:BANKNIFTYShort
by finnova_
3
Bank Nifty - 16/01/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 16/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 48035 – 48060 Important Support and Resistance for the Day... Support - Resistance - Support-1: 48060 Resistance-1: 48320 Support-2: 47940 Resistance-2: 48380 Support-3: 47830 Resistance-3: 48470 Support-4: 47700 Resistance-4: 48600 ____________________________________________ Happy Learning and Trading – TST5121 Rules to fallow... 1) Trade with Strict Stop Loss. 2) Trade with Small Quantity. 3) Take entries based on Support & Resistance Levels. Please take the trade according to the levels marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries after your own analysis. This is for education purpose and a helping hand to learn trading in market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level. 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. SHORT FORM &FULL FORM 0.5 -> 0.5% Swing PDH -> Previous Day High PDL -> Previous Day Low PDC -> Previous Day Close PDO -> Previous Day Open PWH -> Previous Week High PWO -> Previous Week Open PWC -> Previous Week Close PWL -> Previous Week Low D_S -> Day Support D_R -> Day Resistance W_S -> Week Support W_R -> Week Resistance W_O -> Week Open W_C -> Week Close LW_O -> Last Week Open LW_C -> Last Week Close IMP -> Important R@1, R@2, R@3... -> Resistance-Zones S@1, S@2, S@3... -> Support-Zones MS -> Major Support SH -> Swing-High SL -> Swing-Low DT -> Double Top DB -> Double Bottom TT -> Triple Top TB -> Triple Bottom TF -> Time Frame BO -> Break-Out RR -> Risk-Reward SL -> Stop-Loss GAP -> The area b/w Previous Day Close and Today Open Blue Color Text (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals) If market open as a FLAT and moves to UP - SIDE then BUY with the Support of R-1 and SELL with the Rejection of R-1. (Or) If market open as a FLAT and moves to DOWN - Side then BUY with the Support of S-1 and SELL with the Rejection of PDL. Possibility 2: GAP-UP If market open as a GAP - UP and moves to UP - Side then BUY with the Support of PDH and SELL with the Rejection of PDH. (Or) If market open as a GAP - UP and moves to DOWN - Side then BUY with the Support of IMP and SELL with the Rejection of IMP. Possibility 3: GAP-DOWN If market open as a GAP - DOWN and moves to UP - Side then BUY with the Support of IMP and SELL with the Rejection of IMP. (Or) If market open as a GAP - DOWN and moves to DOWN - Side then BUY with the Support of W-R and SELL with the Rejection of W-R.
NSE:BANKNIFTY
by SriTrader5121
BANKNIFTY prediction for tomorrow 16 th JAN 24As we discussed, BANKNIFTY yesterday, "If breaks will go bullish", it broke the pattern to the upside, and then it made a good bullish move, but it had quite high volatility. Now, it has broken to the upside; I am expecting it to go HH till 48500. Suppose we see OI data PCR = 1.25, which is bullish. Also, at higher levels, 48200 has minor resistance. If it breaks to the upside, then the direct target will be 48500. I am expecting it to go bullish till level 48500. Reasons: Price ~ EMA(13) means its balanced bullish. It has already given a breakout to the upside target marked on the chart. (Bullish) RSI 68, which is perfect for a bull run. (Bullish) The market already took support at 200 EMA. After that, it showed a bull market run and also broke the pattern with power. According to OI data, PCR = 1.25, which is bullish, with only minor resistance at 48200, but looking at bullish power, it will break easily. (Bullish) Price already took support at VWAP and became bullish. It will now continue till levels of 48500. Verdict: Bullish Plan of action: If the Market opens sideways, go bullish with CE buying. If the Market opens high, let it retrace, then enter.
NSE:BANKNIFTYLong
by finnova_
Banknifty weekly analysis for 15/01/24.Banknifty on the weekly close has given a hammer candle and has retraced from 61.8% levels. It has given a slow progress after testing the ATH and is lagging the other index. There are chances of it giving a nice move this week, if it starts trading above fibonacci level. There is a parallel channel consolidation and if it clears the resistance zone around 48k levels there will be a good move to capture 200-250 points on the spot chart. Major resistance levels :- 47860-900, 48180 Higher targets in a bullish trade can be captured by trailing the SL. Price action and setup should be checked before entering any trade. Support zone :- 47610-650, 47450, 47250 The zone between 47600-47900 is a no trading zone for tomorrow. If there is a flat to slight gap up/down opening and market consolidate in the first half and move on the higher side in the second half, good targets can be captured in the index.
NSE:BANKNIFTY
by Mambotrade
BANKNIFTY prediction for tomorrow 15 Jan 24 💰 💸 As we discussed, BANKNIFTY yesterday is "Bearish if it breaks to downside AND sideways in the RANGE." it could not break to the downside. It stayed in the range, resulting in a little bullish but inside the range. There was a minor trendline inside the range, which got a breakout, and then the upper range of the region touched, and some bearishness was seen from there. On the other hand, NIFTY gave a breakout and rallied. Now, if we see OI data, PCR is 1.0, which is bullish. But if we compare it to the NIFTY. Nifty has more bullishness than BANKNIFTY. As of right now, Banknifty is also at the surge of breakout. It broke to the upside, and it will be giving a very nice target till 48500. If it opens Gap-up, wait for it to retrace to EMA 13, and after the candle color changes, you can make a bullish entry. If we see OI data, 48000 is showing very good resistance, but if it clears, then we will have a clean target till 48500. Now, tomorrow, I am expecting it to go bullish if it breaks the descending triangle pattern to the upside. Reasons: Price > EMA(13,50,200) shows bullishness in the market. As it is forming a descending triangle pattern, If it breaks to the upside, it can give a very nice bullish momentum till the 48500 levels. RSI = 54 shows bullish once it crosses 60 to the upside; you can easily go bullish; if it breaks the descending triangle pattern, it will obviously cross 60 to the upside. PCR = 1.0, which is Bullish. Only 48000 is showing significant resistance. If it gets cleared, it will give me a chance to go to HH. 200 EMA will be providing nice support at this point. VWAP ~ Price, which shows market price is volume balanced. If it gives a break to the upside, there are higher chances that it will give nice bullish momentum. Verdict: Bullish if it breaks the descending triangle to the upside. Plan of action: check the 15-minute candle; if it breaks to the upside, you can go bullish as follows. SELL 47900 PE and BUY 46600 PE (for Margin Benefits)
NSE:BANKNIFTYLong
by finnova_
SOUTHBANK- Seizing MomentumChart Analysis: The banking stock in focus has been on a solid uptrend, showcasing consistent strength in recent sessions. After a healthy retracement, the stock has now initiated a new momentum move, providing an enticing entry point for traders seeking short-term opportunities. Technical Indicators: Uptrend Confirmation: The stock's established uptrend is a positive signal, indicating strong investor confidence and potential for further upside. Retracement Pattern: The recent retracement allowed the stock to cool off, providing a healthier foundation for the next leg up. Today's Momentum: The initiation of today's momentum is a key indicator, suggesting a potential continuation of the uptrend. Always conduct your own research and due diligence before making any trading decisions. Short-term trading involves risks, and it's important to have a clear strategy in place.
NSE:SOUTHBANKLong
by TTS007
BANKNIFTY Prediction 12 Jan 24As we discussed, Banknifty has been moving in the range. Yesterday, it tried to break it to the downside, but the bulls came into power and again pushed back into the channel. Today, it opened a gap up and took resistance to the trendline, mostly having a sideways day. Again tried to break it to the downside, but the Bulls again pulled it back. Now, it's in the support zone. If it again breaks to the downside, it might give a nice momentum to the downside with a target of 47000. but if it breaks the trendline to the upside, it will be rejected from 200 EMA and might result in a sideways day again. If we see OI data, PCR = 0.80 weekly, which is neutral. But the monthly expiry PCR is 0.90, which leans towards the bulls side. Now, If it breaks the downside, a fall can be expected of 400 points. Otherwise, It might result in a sideways day in a range of 47450-48000. Reasons: Price < EMAs shows a bearishness in the market. (Bearish) RSI = 50, which is 40-60, mostly ends up a sideways day. If it breaks 60, it is upside bullish, or if it breaks 40, it is downside bearish; otherwise, sideways, 40-60 can be expected. OI shows PCR = 0.8 which is neutral. BN is making a descending triangle pattern that shows demand for an asset is weakening, so there are higher chances of breaking to the downside. Price < VWAP, which shows the bearishness. (Bearish) Verdict: Bearish if it breaks to downside AND sideways in the RANGE. Plan of action: Wait for 15 min to see Price action at opening; then place trades accordingly.
NSE:BANKNIFTYShort
by finnova_
3
FASP levels for Bank Nifty 10/01/2024The FASP for BankNifty is listed for 10-01-2024. 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 prediction for tomorrow 10 Jan 24As we discussed Banknifty bearishness yesterday, it opened a Gap-up and then took resistance at 200 EMA, then it fell with quite a nice volume. Also, it did break the pattern to the downside. Also, 47400 was acting as a very nice support but has been broken with good volume and selling pressure. The volume of those candles was very demanding. If we look at the OI data, it also suggests that PCR = 0.48, which is super bearish. And this much fall in OI has not been seen in the past 2-3 months. I am expecting a fall till 47000 as the first target and 46600 as 2nd target is achievable. All important levels have been marked on the chart. I am expecting a bearishness in tomorrow’s session. Reason: The chart has broken to the downside, which shows a super bearish structure. (Bearish) OI data shows PCR = 0.48, which is assumed to be the bearish market condition. Today, a large quantity of PE is being exited, which can be seen in the daily OI change. (Bearish) RSI has dropped to the bearish zone (<40), which shows very weak bulls in the market. (Bearish) Price < EMAs that shows price is weaker; Supply > Demand (Bearish). according to GIFTNIFTY, the market might open a Gap-up and then fall from the price action level marked in the chart. Price < VWAP shows bearishness, which might lead to a good fall. (Bearishness) It is making HNS, which is at the top of the Bull trend that might lead to a very bearish structure. (Bearish) Verdict: Super Bearish Plan of action: Bearish if it rejects the 47400 level; otherwise, wait for PA at 47400. Note: PA = Price Action
NSE:BANKNIFTYShort
by finnova_
BANKNIFTY prediction for tomorrow 9 Jan 24As we discussed yesterday, Banknifty could not break to the upside. it stayed inside and fell heavily. As looking at the chart structure has broken outside the pattern to the downside. I am expecting it to fall more till level 46950. also, OI data PCR = 0.60 shows super Bearishness in the market. You can see the OI chart, which shows the MAXPAIN 47500. If it breaks to the downside, then a big fall directly to level 47950 is achievable. My View will be Bearish for tomorrow. Reasons: The chart has broken to the downside, which shows a super bearish structure. (Bearish) OI data shows PCR = 0.6, which is assumed to be the bearish market condition. Today, CE was added in large quantities, which can be seen in the daily OI change. (Bearish) RSI has dropped to the bearish zone (<40), which shows very weak bulls in the market. Price < EMAs that shows price is weaker; Supply > Demand (Bearish). 47450 might be acting as price action support, but as the selling pressure for today was quite high, it's less probable that the market will hold that level. Bears activate your trade once the 47500 level is clear. Try to avoid making an early entry. Verdict: Bearish Plan of action: Bearish if it Breaks the 47500 level to the downside; otherwise, wait for PA at 47500. Note: PA = Price Action
NSE:BANKNIFTYShort
by finnova_
Bank Nifty - 09/01/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 09/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 47730 – 47760 Important Support and Resistance for the Day... Support - Resistance - Support-1: 47380 Resistance-1: 47730 Support-2: 47200 Resistance-2: 47890 Support-3: 46950 Resistance-3: 48150 Big-Support: 46750 Big- Resistance: 48300 ____________________________________________ Happy Learning and Trading – TST5121 Rules to fallow... 1) Trade with Strict Stop Loss. 2) Trade with Small Quantity. 3) Take entries based on Support & Resistance Levels. Please take the trade according to the levels marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries after your own analysis. This is for education purpose and a helping hand to learn trading in market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level. 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. SHORT FORM &FULL FORM 0.5 -> 0.5% Swing PDH -> Previous Day High PDL -> Previous Day Low PDC -> Previous Day Close PDO -> Previous Day Open PWH -> Previous Week High PWO -> Previous Week Open PWC -> Previous Week Close PWL -> Previous Week Low D_S -> Day Support D_R -> Day Resistance W_S -> Week Support W_R -> Week Resistance W_O -> Week Open W_C -> Week Close LW_O -> Last Week Open LW_C -> Last Week Close IMP -> Important R@1, R@2, R@3... -> Resistance-Zones S@1, S@2, S@3... -> Support-Zones MS -> Major Support SH -> Swing-High SL -> Swing-Low DT -> Double Top DB -> Double Bottom TT -> Triple Top TB -> Triple Bottom TF -> Time Frame BO -> Break-Out RR -> Risk-Reward SL -> Stop-Loss GAP -> The area b/w Previous Day Close and Today Open Blue Color Text (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals) If market open as a FLAT and moves to UP - SIDE then BUY with the Support of R-1 and SELL with the Rejection of R-1. (Or) If market open as a FLAT and moves to DOWN - Side then BUY with the Support of S-1 and SELL with the Rejection of PDL. Possibility 2: GAP-UP If market open as a GAP - UP and moves to UP - Side then BUY with the Support of PDH and SELL with the Rejection of PDH. (Or) If market open as a GAP - UP and moves to DOWN - Side then BUY with the Support of IMP and SELL with the Rejection of IMP. Possibility 3: GAP-DOWN If market open as a GAP - DOWN and moves to UP - Side then BUY with the Support of IMP and SELL with the Rejection of IMP. (Or) If market open as a GAP - DOWN and moves to DOWN - Side then BUY with the Support of W-R and SELL with the Rejection of W-R.
NSE:BANKNIFTY
by SriTrader5121
Banknifty Prediction for tomorrow 8th Jan 24Last, we discussed Bank Nifty on the 3rd of January. It took very nice support from there and gave a very nice target, as expected. For tomorrow, as we can see from the charts, it has prepared an inverted HNS pattern. If that breaks to the upside, it's going to give us a very good target of 49000. But on the other hand, it might also take resistance from here and again test the 200 EMA to the downside. But by looking at the trend strength, there are more chances to break to the upside. If it breaks to the upside, we can go bullish; else, play neutral unless some sign of bearishness is there. Key Points: It's making an Inverted HNS pattern. If it breaks to the upside, it will give a nice target of 49000. (Bullish) Price > EMA(13,50,200) which shows price have strength. The bulls are in control. (Bullish) EMA(13,50) crossover shows bullishness in the Market. RSI ~ 50 increasing continuously; if it breaks 60 to the upside, it will enter into the bullish zone, and good momentum can be expected. OI data PCR = 0.7 raises some concerns about the bullish momentum; wait for it to go more than 0.85. Then you can enter the bull side. upper trendline can provide rejection as it activated sellers in the last 30 min. It may provide resistance. Verdict: If it Breaks the HNS neckline (Trendline) to the upside, go Bullish. Plan of Action: If break successful Sell 48200 PE + Buy 46900 PE (For protection + Hedge in worst case) + Buy 48100 CE (To capture Bull momentum)
NSE:BANKNIFTYLong
by finnova_
BankNifty Intraday Trade Setup | 5th Jan '24Today BankNifty opened with a gap-up above our buy level of 47800 and gave rally towards 48280 hitting all our targets on the buy side. BankNifty is looking bullish for tomorrow and positional basis until trading above 48250. For tomorrow, if BankNifty breaks 48250 on the upside, we expect to see 48370 and upper marked levels. On the other side, if BankNifty breaks 47950 on downside, we expect to see more selling towards 47830 and below marked levels on the chart. Expectations: Trending day. Intraday Levels: Buy Above - 48250 Sell Below - 47950 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
1
Banknifty weekly expiry levels for 03/01/24.Banknifty has given a fall in daily charts, closing below the round number figure of 48k. It is sitting around 50% fibonacci levels. Either it will retest 38.2% level or come to test 61.8% levels. Major Support levels :- 47675, 47460 Tomorrow is weekly expiry and today itself has given a 470 points fall. If the market remain bearish the lower levels can be tested. Resistance:- 48070-150, 48460 Market has given a retracement. There can be a chance of market reversing but will take a halt candle before reversing. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
BankNifty Intraday Trade Setup | 4th Jan '24BankNifty opened flat today and after making a low around 47480 in first 30 mins it remained in a range to eat premium as today it was a weekly expiry for BankNifty. For tomorrow, if BankNifty breaks 47450 on the downside, we expect to see 47320 and below levels marked. On the other side, if BankNifty sustains above 47800 we expect to see an upmove towards 47900 and upper marked levels on the chart. Expectations: Volatile Day Intraday Levels: Buy Above - 47800 Sell Below - 47450 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
Banknifty live prediction for today 3 Jan 24As we discussed Banknifty, Banknifty gave a nice momentum yesterday and continues to go bearish today. But as we see the chart structure, it has been preparing for the rising wedge pattern. And right now, it is on the verge of breaking down to the downside. But it can also support 200 EMA and support zones. Here right now, two possible decisions can totally depend on how it reacts to the support zone. Looking at the pressure, it might break to the downside. Reasons: Price < EMAs that means bears are in control. 200 EMA might provide a good support. Also, it coincides with the Trend Support Zone, which might provide the support. The RSI value is very low, which shows that bulls are weak at this point. But at the same time, the market is oversold. if we see the OI data PCR = 0.71 which is bearish side. the market has more chances to go down. it has given EMA(13,50) crossover that means market is having bearish tendency. Verdict: Bearish unless you take support at zone. Plan of action: wait for the market to act to this level.
NSE:BANKNIFTYShort
by finnova_