Bankniftytrading
[INTRADAY] #BANKNIFTY PE & CE Levels(20/09/2023) Today will be gap Down opening in BANKNIFTY . After opening if banknifty start trading below 45950 level then possible downside rally of 400-500 points upto 45550 Level. And this rally can extend for another 400 points if it gives breakdown of 45450 level. Any Major upside only expected in case banknifty starts trading above 46050 level.
Bank Nifty future chart analysis for 20.09.2023As you can see here that bollinger bands already burst in 30 minutes time frame
near next strong support at 45895, if this support breaks down there is a high
chance that banknifty future will take support at 0.5% fibonacci support.
and may may take good upmove from there.
if price takes support on 45895 , the you may see a sideways again
crossing above 46165 , may put price again above long trend for new moves.
and price may reach its full target, in between 46308, strong resistance.
18 Sep ’23 Post Mortem on BankNifty - Go short below 45855BankNifty Analysis
Banknifty showed more negative sentiment than Nifty. In Fact it is hard to digest that Nifty was staying strong when BankNifty, NiftyIT and Reliance were down. Quite a rare day.
Recap from Friday: “For monday I wish to maintain the bullish stance and would like to reverse and go short only if the 45910 levels are getting taken out.” . Not only this prediction went wrong, but the reversal level of 45910 was not taken out conclusively. So from a trading standpoint - had a non-performing day today.
BankNifty has made a smooth curved top like formation on the 1hr chart. If the next day’s trades are getting punched below 45900 levels - then the interim top can be confirmed for sure. I wish to go short below 45855 on Wednesday - and it is going to be the expiry day, so expect turbulence. Till the short level is not taken out - I wish to stay neutral.
Bank Nifty Rounding Bottom or Cup & Handle Pattern?? let's see…Bank Nifty making Rounding Bottom Pattern on Daily time frame or will make cup & handle pattern let's wait & watch… breakout level for Bank nifty will be 46444. Some important news will be there from government side & world market are also at some crucials levels watch carefully. Trade with stoploss & proper risk management. Happy trading
Banknifty TradeSetup for 18-09-2023Banknifty important levels to watch are as follows
#Support: 46140
Sell below: 46140 only on 15 minute candle closure below the level.
Target 1: 46020-46000
Target 2: 46850
#Resistance: 46315
Buy Above: 46315 only on 15 minute candle closure Above the level.
Target 1: 46420
Target 2: 46600
#Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital.
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Banknifty future chart analysis for 18.09.2023As you can see , whenever it is making diagonal down sideways breaking upside, price
is standing just below standard deviation one if it crosses above standard deviation two
you may see an another burst in bollinger bands and price may go till 46799 after
crossing 46410.
If price goes down from current area then it may take support on 46100 and bounce back,
but if it crosses down below 46100 then you may see a weakness in price and it may reach
to the level of 45812.
15 Sep ’23 Post Mortem on BankNifty - new ATH for monday?BankNifty Analysis
Banknifty also had a similar chart pattern like Nifty50. The good thing is that it has caught up near the all time highs. We just have 98pts to be taken out for a new lifetime high.
Today’s price action and the far OTM premiums were totally out of sync. The volatility was falling still there were adequate price swings - which is not the case usually. I waited and waited for the prices to hit the limit price and ended up not getting filled. Today’s message being - Dont be too greedy, especially in low VIX environment.
On the 1hr TF banknifty is still looking strong. The main question is what was the freak behaviour of HDFCBK in the last 30mts of trade today. If its a positive news flow we will end up hitting a new ATH on monday. If its negative - it could end up crashing the markets as well - such is the power of this elephant.
For monday I wish to maintain the bullish stance and would like to reverse and go short only if the 45910 levels are getting taken out.
BANKNIFTY: Second Cup CompleteBANKNIFTY has completed a second 2 month long cup and is poised for higher breakout if it crosses the cup effectively. RSI high, volumes high.
BankniftyNSE:BANKNIFTY Here, is the chart, Trade the levels accordingly...
and Yes, Trade only after closing of the candle either side
[INTRADAY] #BANKNIFTY PE & CE Levels(15/09/2023) Today will be gap up opening in BANKNIFTY . After opening if banknifty sustain above 46050 level then possible upside rally of 400-500 points upto 46450 Level. And this rally can extend for another 400 points if it gives breakout of 46550 level. Any Major downside only expected in case banknifty starts trading below 45950 level.
Triangle Pattern breakout seen in lower time frame in bankniftyGood Morning Guy's.
Banknifty have formed a dogi kind of candlestick pattern on the daily time frame after the rangebound trade, as the closing was near opening levels, indicating the thug of war between sellers and buyers for the future trend, but anyway index has successfully given a closing above 46000 levels, which is a positive sign in near term, Today global market also looking good, Seems we can see some fireworks in banknifty for upside levels. Well strategy for now is same like earlier, Buy on Dips. Guy's if you see the levels in lower range some where around (45700-45850), then see those levels as an opportunity, and accumulate there. Well according to me, (45700-45850) levels gonna to be act as strong support zone in near term.
Today if market able to hold their breadth above 46000 till first half, then i feel, we can see banknifty towards 46250+ levels, even i am sure, may be we can cross all time high in banknifty which was (45369). Well let's see, we are gonna to act according to the levels and price action.
Most of the levels i already have marked on chart but still i am gonna to write here as a support.
Important levels for Bank nifty:-
Strong Support zone 45700-45850
Strong Resistance zone 46150-46350
Buy above 46019, if levels sustains at least for 15 mints.
Targets we can see in upside 46144/46369/44493+
Keep stop loss at 45857
Guy's as market is highly bullish don't try to sale and wait until you won't see proper breakdown of (45700) levels. Intraday selling moods works according to price action, with strict stop loss.
Note: - Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
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#banknifty"Good morning! As of September 15th, there is no significant difference compared to the last session. Global market sentiment remains neutral, primarily based on the performance of the Dow Jones. The market trend is moderately bullish, with a possibility that it may open with a neutral to slightly bullish gap. If the market subsequently breaks the previous high, we can anticipate a rally continuation with minor consolidation. On the other hand, if the gap-up doesn't sustain, we can expect the market to enter a correction phase."
14 Sep ’23 Post Mortem on BankNifty - just 0.8% to take out ATHBankNifty Analysis
Banknifty had a decent range bound day today, but the options premium had some unusual jumps. I wasn't prepared to take advantage of those - especially during the open period as I was scanning for Nifty strikes to sell. After a few minutes I still saw the exorbitantly high OTM premiums both for PE and CE - but still couldn't capitalise as my margins were totally blocked.
This scenario has occurred due to the shifting of banknifty expiry to wednesdays. The lack of liquidity is shooting up options prices and I assume most credit spread writers may be dearly paying for this.
From a price action perspective, the sudden drop from 09.40 to 10.20 is still a mystery. Was it because we had a gap up opening and then the big-boys wanted a flattish closing so they had to sell a few heavyweights?
We are just 389pts ~ 0.84% below the ATH. With the momentum gained - it's quite possible that we take this out over the next 2 sessions. I won't even be surprised if we hit it tomorrow. I wish to go with a bullish bias for tomorrow with stop loss being 45725.
13 Sep ’23 Post Mortem on BankNifty - weekly expiry special BankNifty Weekly Analysis
Between the last expiry and today BankNifty has gone up an impressive 3.2% ~ 1422pts. Quite a remarkable feat and the major reason why we had a breakout rally. The weekly chart looks pretty loaded up for further gains.
BankNifty Today’s Analysis
Yesterday I remember saying the “rally is still not dead in banknifty” although my view was only moderately bullish. But what we witnessed today was strong bullishness proving me wrong. Today’s intraday swing saw a move of 692pts ~ 1.53% and outperforming the NiftyIT index by a huge margin.
Since we had the weekly expiry today, the options premium started on the lower side. Even though the upward possibility was there, it did not show itself till 11.00. Right after that the option prices started to jump pricing in the mega move that followed. The advantage of using the options flow to guess direction is that it helps you guess the direction with a higher probability. If you club that with the chart patterns - the combination becomes unbeatable.
On the 1hr chart the next resistance should be around the 46302 levels whereas the next support will be 45615. I wish to stay moderately bullish ie. 50% bullish & 50% neutral until the resistance is not taken out. In case we have a beach in support - I wish to go short.
12 Sep ’23 Post Mortem on BankNifty - Rally is still not deadBankNifty Analysis
Yesterday I had a long call on BankNifty - just because there was some room to catch up. In fact the banks did really well today not to concede the gains. Opening was a gapup like Nifty and we fell 424pts ~ 0.93% by 09.55. From there we had a minor reversal and went uptil 45620 (yesterday’s close levels) and then started falling from there.
The leg 2 had a fall of 297pts ~ 0.65% and we hit the lows for the day by 12.55. The recovery from the leg2 was not that strong. ICICI, HDFC bank did well today and did not succumb to the broad based selling.
The real reason Nifty50 had a flat close today was due to NiftyIT that rallied 2.1% between 09.55 to 12.00. 09.55 is the exact time stamp from where Nifty50 and BankNifty started its pullback.
BankNifty is yet to play out the breakout pattern. Agreed that we had a good surge from the 44068 levels - but its not enough. Whether it will go up from here really depends on many factors. Globally things are not looking that great because the OIL prices are hovering around 92 USD.
I wish to change the stance from bullish to 50% bullish & 50% neutral. My stop loss will be the 45275 levels below which I wish to reverse and go short.
FASP levels for Bank Nifty 12/09/2023The FASP for BankNifty is listed for 12-09-2023. 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.
11 Sep ’23 Post Mortem on BankNifty - some more ground to cover BankNifty Analysis
Banknifty had a long call for today even though the I-CRR news would have impacted it more than Nifty50. One of the reasons is the distance left to ATH vs Nifty50. BankNifty had more distance to cover the ATH and for this reason I had the continuation of bullish stance from Friday.
The strength in BankNifty was obvious when NiftyIT started giving up some gains. It was BankNifty’s persistence that kept Nifty surging ahead and finally helped it take out the all time highs. Once Nifty got its boost, even NiftyIT started contributing.
During the last 1hr the boost Nifty50 got from all the sub sectors was humongous. For this same reason there could be some shaving off tomorrow unless BankNifty keeps firing.
BankNifty has to catch up 691pts ~ 1.52% to take out its personal ATH. If this comes by tomorrow - then Nifty50 will also remain in green. Ideally it should. I wish to continue my bullish stance in BankNifty for tomorrow and expect a turbulent FinNifty especially for the near ATM calls.
FASP levels for Bank Nifty 11/09/2023The FASP for BankNifty is listed for 11-09-2023. 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.
08 Sep ’23 Post Mortem on BankNifty - Stance is still bullishBanknifty was also continuing from the momentum it got from the last hours of 6th Sep. We had an intraday rally of 563pts ~ 1.26% to hit a new swing high of 45383. Again the bulk of the contribution came from HDFCBK.
The candles at 14.30 & 14.35 took out some steam or else the 45400 levels may have been breached today. Those 2 candles are the reason why I am a bit cautious for Monday - as I said in the Nifty analysis above, I need to wait and watch how the market reacts to the I-CRR partial withdrawal news.
The important levels have been highlighted in orange horizontal lines. 44967 is already taken out today, the next resistance is 45398 and then 45719. BankNifty has a bit more ground to gain with respect to Nifty to take out the ATHs. Any positive news on the I-CRR will give it more wings, whereas negative news might create a huge fall. Since we are dependent on fundamentals on Monday - it is best advised to stay out.
Technically I wish to maintain the bullish bias and hoping for a close between 45398 and 45719 on Monday.
Banknifty daily analysis for 08/09/23.Banknifty has given a nice marubozu candle on the daily charts and there is a bullish mat hold pattern.
It broke the resistance zone of 44650 levels and has travelled to touch the resistance of 44900. Banknifty has given a nice up ward move from the first hour after retesting 44350 levels.
On the hourly charts, there is a bullish moving averages cross over and market held onto take support from the moving averages.
A nice 1% move is there in banknifty and it was stronger than nifty.
Now the major resistance area is around 45000-45100 levels and if it is cleared than the bullish trend will be confirmed.
Support :- 44650, 44500
Resistance :- 44910, 45080, 45350
Watch banknifty moving above 45000 levels, once the levels are cleared and market sustain above it, there are chance of a nice upside targets.
Wait for the price action near the levels before entering the market.
07 Sep ’23 Post Mortem on BankNifty, change in stance to bullishBankNifty Analysis
The real reason Nifty50 outperformed in the last 90 minutes was BankNifty. Even NiftyIT contributed, but since the weightage of banking stocks are higher - that made a real difference. BN rallied an impressive 512pts ~ 1.16% from the lows to the highs today.
You might remember the 1hr chart we discussed yesterday, as long as banknifty was staying beneath it - the sentiment would have been bearish. And the moment it broke-out from that trap - it got additional wings.
The reason 14.15 candle went up 221pts could be because of that. It is like the whistle from the pressure cooker - when the steam builds up ample pressure, it lifts the whistle and oozes out. The next resistance points are at 45353, 45727 & 46069. We will get to know tomorrow if the build of steam is good enough to cruise through. I wish to change my stance from neutral to bullish for tomorrow.
