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Bank Nifty | Tuesday 22 Aug TradingAs today was good move on Nifty and Bank Nifty for tomorrow in simple strategy for bank nifty is 1. Leave first 15 mints 2. if It open or cross up side of yellow box ( which 1 hour of yesterday ) range then be bullish for 44400 - 44500 3. If open in within yellow range then wait to take support at 43900 or 43800 then can be bullish I am just putting my point of view for bank nifty as i am option CE / PE buyer only i do not sell any option. This is not suggestion to anyone. Do analysis, read chart, data and price action and trade on your own risk. If you like my post please do like, comment and share Thank you
NSE:BANKNIFTYLong
by apstockanalysis
1
21 Aug ’23 Post Mortem on BankNifty | Stance is still bearish Looking at the way Nifty performed in the morning session, I was quite worried that the stance on BankNifty might also have to be changed. The level that we were looking for was 44068 which is the first resistance zone. At 13.15 we broke that in the 5mts candle, and then we broke it again at 13.55 - but the momentum was not strong enough. There was a strong fall of 159pts in the last 30mts which would have given some respite for the bears. Basically it was this move that helped me decide to not change the stance. The moves today were as bullish as Nifty, the only reason was the failure of resistance breach. The foundation of my tech analysis is based on support and resistance - so if we do not get a clear break, then I still consider it as a continuation pattern. This is the case even if the price action is strongly opposing it. On the 1hr TF, the pattern is quite similar to Nifty - the only difference is that the price is below the SR line whereas its above for Nifty. As long as we are below the resistance in a falling wedge pattern - its still a bearish signal. Meanwhile the convergence is coming up real soon and an upward thrust could shift the momentum in bullish favor. The reason for faster convergence is because the slope is steeper for banknifty. For tomorrow I would prefer to retain my bearish stance until we have an hourly closing above the 44068 zone.
NSE:BANKNIFTYShort
by viswaram
1
Banknifty TradeSetup for 21-08-2023Banknifty important levels to watch are as follows #Support: 43735 Sell below: 43735 only on 15 minute candle closure below the level. Target 1: 43520 Target 2: 43290 #Resistance: 43925 Buy Above: 43925 only on 15 minute candle closure Above the level. Target 1: 44070 Target 2: 44281 #Demand Zone: 43730-43810 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart. #Supply Zone: 44000-44070 may act as an immediate selling zone, and price may reject from the region marked in red on the chart. #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. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
NSE:BANKNIFTY
by InvestyourAsset
Banknifty future chart analysis for 21.08.2023Do not go long before price crosses over upside standard deviation one, crossing over above 44075, you may again see a beaten down buying situation which may push price further ahead, follow levels. As you can see Banknifty future was closing near Median line from last five trading days , this is the first time it closes below downside standard deviation one (Blue) , after rejecting from upside standard deviation one (Blue) , which is pretty good for nice may be downside move , and you can also see a squeeze in bollinger bands. which may burst tomorrow. If price opens at the same level where it left off and then crosses below the special level (Red Line) then you can enter in PE trade , but keep in mind that 43792 will be a strong support in this situation crossing below 43792, price may go below to the level of 43491.
NSE:BANKNIFTY1!
by stoxway
Banknifty weekly analysis for 21/08/23.Banknifty has been trading around a major support levels and is around weekly 20 ema. It is taking support from the moving average. For last 4 weeks market has given red candles and has formed a confusion candle this week. On the daily charts, market is stuck in a small range which shows that there is a high probability of a trend market in this week. Banknifty is giving close in a small range ans closed almost flat on friday. In the last trading session market has trading inside the first hour candle. The market is in a sideways mode. Watch a trending market in the coming week. On the hourly charts, the market has been taking resistance from the 20 ema and is trading below both the moving averages. Market is also taking resistance from a trend line, forming a descending triangle pattern. Support :- 43750, 43570, 43400 Resistance :- 43920, 44090 Market has tested 44k levels multiple times, making it a weak resistance levels. Watch for a break out or break down of the levels as there can be a trend move in the markets. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
FASP levels for Bank Nifty 21/08/2023The FASP for BankNifty is listed for 21-08-2023. 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.
NSE:BANKNIFTY
by SathishChandrasekaran
Banknifty TradeSetup for 18-08-2023Banknifty important levels to watch are as follows #Support: 43735 Sell below: 43735 only on 15 minute candle closure below the level. Target 1: 43520 Target 2: 43290 #Resistance: 43925 Buy Above: 43925 only on 15 minute candle closure Above the level. Target 1: 44070 Target 2: 44281 #Demand Zone: 43730-43810 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart. #Supply Zone: 44000-44070 may act as an immediate selling zone, and price may reject from the region marked in red on the chart. #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. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
NSE:BANKNIFTY
by InvestyourAsset
Banknifty future chart analysis for 18.08.2023As you can see here that price continously closing near Median line , thatswhy you are not getting proper move in banknifty , this is the fifth time it closed near Median line, but with a squeeze in bollinger band , you may see a nice move today price do not face resistance at 44149 or support at 43919, if it retraces back from 44149 , or bounce back from 43919 , then you may see sideways again. If price goes below 43919, then you can see a good downmove and price may reach to the level of 43646, in between 43839 is a strong support if price takes support here sqaure off your position with small profit, take trade again when it breakdown 43839. In upside if price breaks up above 44149, go long , 44262 strong resistance crossing above it may push price towards 44389.
NSE:BANKNIFTY1!
by stoxway
Morning Mantra - 18th August 2023Dear All, Just as we had stated in our Previous Morning Mantra update about our expectation on Nifty creating some cautiousness in the Market. Likewise the same was witnessed yesterday itself. As after a flat to negative opening, the Market showed us a further decline in its levels. Moreover, today is the last trading day of the week. Besides, on the weekly chart, we can now observe a Doji formation. Wherein, as per our expectation, it will somehow be better to witness the same flat closing today as well. As it can show us a positive reversal in the upcoming days. While on the other hand, if in case Nifty gives a closing of below 19300, then we will have to work on our Portfolio as thereafter we can get to witness some further panic in the Market. Same in the case of BankNifty, as even here we can observe a Doji formation on the Day chart. Where, on the positive side, the Index didn’t break through its support level of 43800 on closing basis, yesterday. So, the levels of 44444 and 43800 will remain to be the important levels for BankNifty, as of now. Keep Trading! Keep Investing! Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
FASP levels for Bank Nifty 18/08/2023The FASP for BankNifty is listed for 18-08-2023. 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.
NSE:BANKNIFTY
by SathishChandrasekaran
17 Aug ’23 Post Mortem on BankNifty + Weekly Expiry AnalysisBankNifty Weekly Analysis The bears have managed to take out 674pts ~ 1.52% between the last expiry and today. A sign of momentum getting built. We have taken out 1 important support level of 44068 in this week - something to cheer for the bears. Overall sentiment is looking bearish as the EMAs are diverging. BankNifty Today Analysis We had a flat today, but there was some important action today. Banknifty rallied 231pts ~ 0.53% between 09.35 to 11.05 in a show of character. Guess what point we had the reversal then? 44068 which is the marked SR zone. The fall from 11.05 lasted till 12.55 with over 321pts ~ 0.73% shed. The good thing for the bulls was that the selling stopped there. We did not retest the swing low of 43600 nor the next support of 43404. I would say banknifty had so much potential firepower today - visible from the more than usual premiums for OTM. But it did not materialise into actionable swings. Possibly the movements may come tomorrow - let us see how deep the bears can gap us down. The steepness of the bearish trend line may be at the same angle as that of Nifty, but the action looks more intense for BankNifty. Since the support level of 44068 was not defended and the resistance got rejected - the floor is now open for the BEAR DANCE. The next support comes 400pts lower and if we manage to take that out with pace - the further drill downs will be easy. On the contrary if we fall slowly, it will open up a congestion zone and the bears may cede control. I wish to maintain the bearish stance for tomorrow as well. If you have any queries - please drop comments below, I will reply.
NSE:BANKNIFTYShort
by viswaram
Banknifty expiry tradesetup for 17-08-2023Banknifty important levels to watch are as follows #Support: 43860 Sell below: 43860 only on 15 minute candle closure below the level. Target 1: 43730 Target 2: 43600 Target 3: 43455 #Resistance: 43970 Buy Above: 43970 only on 15 minute candle closure Above the level. Target 1: 44180 Target 2: 44410 #Demand Zone: 43700-44800 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart. #Supply Zone: 44160-44180 may act as an immediate selling zone, and price may reject from the region marked in red on the chart. #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. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
NSE:BANKNIFTY
by InvestyourAsset
Morning Mantra - 17th August 2023Dear All, Just as we had stated yesterday about the huge chance of witnessing a bounce back in Nifty, as a result of observing a bullish reversal pattern, named hammer. Likewise the very same was observed yesterday itself. As once again after taking a support at around 19300, i.e., at 19317 Nifty finally gave us a positive closing of 19465. Well for now, we are still in between the 2 important levels of 19550 and 19300. Besides, Today is the day of weekly settlement, so it will altogether be a crucial day. Furthermore, it will somehow be better to wait and watch for a clear cut indication with an either side movement in the Market. Consequently, the Conservative Traders can avoid Trading for Today, in order to be on a safer side. Whereas, the Aggressive Traders can take a chance of Cherry Picking with the stop loss of 19300. On the other hand, even in BankNifty we had got to witness a positive closing of above 43800, i.e., at 43946 yesterday. However, here again we are in between the levels of 44444 and 43800. So, for clarity, it will be better to wait for a clear cut indication with an either movement in the Index. Keep Trading! Keep Investing! Regards, Alok Daiya SEBI Registered Research Analyst
NSE:BANKNIFTY
by alokdaiya
16 Aug ’23 Post Mortem on BankNifty, Bearish stance hanging on🧵From the moment we started today, Banknifty looked and stayed bearish for the entire day today. In the opening minutes we dropped 1.06% ~ 465pts and then there was a decent recovery of 403pts ~ 0.93 by 15.05 Last session we discussed the support/resistance zone of 44068. We have broken that today and the close ensured we have conclusively breached it. HDFCBK made a decent recovery today which was the primary reason banknifty cut its losses to just 0.3% ~ 144pts today. HDCBK was carrying on the bad news that its NII will be impacted after the merger. Banknifty does not require a stance change and we continue to remain bearish. The first support level is 43404 and the first resistance is 44068 (marked on the chart yellow horizontal lines). From an options premium perspective, even after the strong moves today - the OTM premiums were not surging - suggesting no more wild swings for the day. I was really hoping to see some action today, but ended the day on a disappointing note.
NSE:BANKNIFTYShort
by viswaram
FASP levels for Bank Nifty 17/08/2023The FASP for BankNifty is listed for 17-08-2023. 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.
NSE:BANKNIFTY
by SathishChandrasekaran
Banknifty Tradesetup for 16-08-2023Banknifty important levels to watch are as follows #Support: 44000 Sell below: 44000 only on 15 minute candle closure below the level. Target 1: 43790 Target 2: 43540 #Resistance: 44200 Buy Above: 44200 only on 15 minute candle closure Above the level. Target 1: 44410 Target 2: 44570 #Demand Zone: 43900-43960 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart. #Supply Zone: 44360-44400 may act as an immediate selling zone, and price may reject from the region marked in red on the chart. #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. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
NSE:BANKNIFTY
by InvestyourAsset
BankNifty completes rising wedge pattern next week ?Hi All, Hope all are doing great. Here’s my 1D timeframe analysis. As we can see in the chart from 14-Dec-2022 to 6-Apr-2023 around 113 days there was a good falling channel pattern. It broke and achieved twice the target. The next 113 days from the previous breakout is forming beautiful rising wedge pattern. As per the pattern nature it might break below to the given support level 43659. Always trade carefully with proper SL because it’s your hard earned money. Please note this is just my observation and purely for educational purposes only. Consult with your financial advisor before taking any trade.
NSE:BANKNIFTYShort
by tmvinoth3
#banknifty"Good morning! As of August 16th, the global market sentiment is negative (based on the Dow Jones alone), while the market trend is moderately bullish. The market might start with a gap-down. After that, if the market takes a pullback around the immediate support zone, we can expect a minimum 38% pullback. If it breaks the immediate support zone, then the correction will likely continue. On the other hand, if the decline doesn't break yesterday's low, it might turn into a range-bound market."
NSE:BANKNIFTY
by Manickamtraders
FASP levels for Bank Nifty 16/08/2023The FASP for BankNifty is listed for 16-08-2023. 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.
NSE:BANKNIFTY
by SathishChandrasekaran
Morning Mantra - 16th August 2023Dear All, So once again we had witnessed the significance of 19300 level on Monday itself. As after making a low of around 19257 during the day, the Index ultimately gave us a positive closing of around 19434. Well now we can observe a bullish reversal pattern, named as Hammer, on the Day chart setup of Nifty. So, we are now expecting a bounce back from the current levels. Whereafter, if Nifty takes a support at this level and manages to gives a positive closing of above 19550, then we will be in an aggressive buying mode. Otherwise, until then, we will have to wait and watch for either a breakout of above 19550, or a breakdown below 19300 on closing basis. In the meanwhile, it will be better to keep Rebalancing the Portfolio. Besides, as per the chart of BankNifty, we can now observe the perfect formation of a Doji Pattern. For which, just like we always say - “A Doji Formation on the chart and a Fauji (soldier) on the Border is quite indicative of a safer zone for the Bulls”. So, as of now there’s a symbol of Reversal on the chart of BankNifty as well. However, here again it will be better to wait for an either side movement, i.e., a breakout of above 44444 and a breakdown of below 43800 on closing basis. Keep Trading! Keep Investing! Regards , Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
Banknifty future chart analysis for 16.08.2023As you can see here price took nice rejection from Median Line , so it must go down but here a little twist remains as you can see that bollinger bands are pretty broad, so if price opens near same place where it left off then there is a high chance that it will take support on bollinger bands standard deviation one and may go in a sideways. if price again goes below 44065, then you can again witness a burst and price will achieve all targets downside. in between 43862 is a strong support. If price goes above 44356, then it may easily reach to the level of 44546, 44546 is a super strong resistance price may again go down to the level of 44205, crossing above 44546 may push it towards 44725.
NSE:BANKNIFTY1!
by stoxway